The Savvy Investor Podcast

Having a 401k does not automatically mean you have a substantial retirement fund. While a 401k is a tool to save money for retirement, it doesn't guarantee a successful income plan. In this episode, Mike and Ryan explain why people may lack the necessary knowledge and guidance to make informed decisions about their 401k, and discuss the important things to look out for when developing a retirement plan. Want to learn more about where your 401k stands? Schedule a call with us here: 📅 https://bit.ly/3Rq2d9i Follow us for more helpful insights: 🖱️ Facebook- https://bit.ly/3PmJcSt 🖱️ LinkedIn- https://bit.ly/44T88a9 🖱️ Twitter- https://bit.ly/3PHxqDJ See omnystudio.com/listener for privacy information.

Tax planning is a crucial aspect of financial planning, as taxes may significantly impact retirement savings. In this episode, Ryan Herbert tells us where Maryland stands compared to other states regarding tax rates. Learn about how where you live can affect your overall retirement plan and the importance of properly preparing a tax strategy. Want to learn more about your tax situation? Schedule a call with us here: 📅 https://bit.ly/3Rq2d9i Follow us for more helpful insights: 🖱️ Facebook- https://bit.ly/3PmJcSt 🖱️ LinkedIn- https://bit.ly/44T88a9 🖱️ Twitter- https://bit.ly/3PHxqDJSee omnystudio.com/listener for privacy information.

Diversifying tax buckets is important when minimizing tax implications. A plan that considers the lowest tax bracket today and throughout retirement is essential to understand when aiming for tax efficiency. In this episode, Mike and Ryan break down how different investments such as annuities have varying tax implications, and why preserving and protecting wealth in retirement should be a goal when building out a plan. Want to learn more about your tax situation? Schedule a call with us here: 📅 https://bit.ly/3Rq2d9i Follow us for more helpful insights: 🖱️ Facebook- https://bit.ly/3PmJcSt 🖱️ LinkedIn- https://bit.ly/44T88a9 🖱️ Twitter- https://bit.ly/3PHxqDJSee omnystudio.com/listener for privacy information.

Taxes are unfair. That’s what Ron Swanson of “Parks and Rec” taught a young student by eating most of her lunch. On this episode, Mike expresses the frustrations he has with lazy CPAs that are costing the taxpayer money they legally aren’t obligated to pay. Plus, hear about how proper tax planning may result in a lower tax bill and how those savings can be utilized in a financial plan. Want to learn more about your tax situation? Schedule a call with us here: 📅 https://bit.ly/3Rq2d9i Follow us for more helpful insights: 🖱️ Facebook- https://bit.ly/3PmJcSt 🖱️ LinkedIn- https://bit.ly/44T88a9 🖱️ Twitter- https://bit.ly/3PHxqDJSee omnystudio.com/listener for privacy information.

Market corrections have a bigger impact on your 401k than you may think. That impact is more significant when you're planning for retirement. On this episode, Ryan Herbert discusses the importance of positioning yourself properly to make your life savings last regardless of a stock market crash. Plus, pensions used to be the consistent source of income that retirees relied on. Now it's the 401k. But 90% of Americans are worried that their 401k won't provide a reliable stream of income. Ryan and Lawrence Kiely suggest how annuities and other strategies could be utilized in a retirement plan. Learn how to protect your 401k today- schedule a call with us here: 📅 https://bit.ly/3Rq2d9i Follow us for more helpful insights: 🖱️ Facebook- https://bit.ly/3PmJcSt 🖱️ LinkedIn- https://bit.ly/44T88a9 🖱️ Twitter- https://bit.ly/3PHxqDJSee omnystudio.com/listener for privacy information.

How much can you withdraw from your retirement and make it last? Ryan Herbert and Lawrence Kiely discuss recent reports from talking heads saying rates range from 4% to 8% annually and why that might not be right for you. They also talk about the age-old question of how much you need for retirement and if there is a set number, See omnystudio.com/listener for privacy information.

What are the advantages to Roth conversions and when is the right time to begin? Ryan Herbert discusses how to take advantage of taxes when moving money in your retirement accounts. He also talks about how to create a personal pension and ways to retire as a federal employee. Start your tax savings today- schedule a call with us here: 📅 https://bit.ly/3Rq2d9i Follow us for more helpful insights: 🖱️ Facebook- https://bit.ly/3PmJcSt 🖱️ LinkedIn- https://bit.ly/44T88a9 🖱️ Twitter- https://bit.ly/3PHxqDJSee omnystudio.com/listener for privacy information.

The tax laws continue to shift and can create a problem when it comes time to file, but what can you do today to get ahead of the issue? Mike Canet and Lawrence Kiely discuss the proper way to implement a tax plan for your financial future. They also talk about how much money you need to save to cover medical expenses in retirement and why that number keeps going up. We invite you to get your own Savvy Investor Retirement Summary. In just five easy steps, you can get prepared for the rest of your life 👉 https://bit.ly/3roZmmk Follow us for more helpful insights: 🖱️ Facebook- https://bit.ly/3PmJcSt 🖱️ LinkedIn- https://bit.ly/44T88a9 🖱️ Twitter- https://bit.ly/3PHxqDJSee omnystudio.com/listener for privacy information.

They are calling it "Peak 65" but what does that mean? Mike Canet and Lawrence Kiely discuss the recent influx in retirees leaving the workforce. They also talk about the tax options that become available to you when you sell off real estate before or during retirement. See omnystudio.com/listener for privacy information.

Will retirement cause you to go up into a higher tax bracket? Ryan Herbert and Lawrence Kiely discuss the tax options that are available to you when you are going into and through retirement. They also talk about the impact of a Presidential Election on your financial future. See omnystudio.com/listener for privacy information.

Are you delaying your retirement? Did you know that you could be losing money because you're continuing to work? Ryan Herbert discusses the importance of retiring at the right time and how to evaluate your situation to know when to begin transitioning into retirement. See omnystudio.com/listener for privacy information.

Getting you to retirement is different than getting you through retirement. How does the role of your financial advisor change when you decide to stop working? Ryan Herbert discusses why you should shift your financial focus and the importance of a retirement plan. He also talks about Tiger Woods recent decision to leave Nike Golf and ways to keep Uncle Sam out of your wallet. See omnystudio.com/listener for privacy information.

Media Mogul and Billionaire Tyler Perry shares his vision for retirement, and whether you're a federal employee or not, you might be surprised to know how similar his goals are to yours. Ryan Herbert explains the importance of having a complete financial plan and the relationship you and your family should have with the person managing your money. See omnystudio.com/listener for privacy information.

Are you a Federal Government employee thinking about retiring in 2024? Mike Canet and Ryan Herbert breakdown the tools available to you and the ways you can reach your financial goals in the next calendar year. See omnystudio.com/listener for privacy information.

Have you begun planning your child's financial future yet? Do you even know what options are available to you? Mike Canet breaks down some of the best ways to get started and explains how each option works. He also discusses the difference between a 529 plan and a Roth and the new tax brackets you will see in 2024! See omnystudio.com/listener for privacy information.

This holiday special is a compilation of Mike Canet's celebrity interviews which includes Jason Aldean, Tom Glavine, Warren Moon, Andrea Bocelli, Marshal Faulk, Bill Murray and more! They discuss Mike's favorite topic, their favorite meal from mom. See omnystudio.com/listener for privacy information.

Former NFL Quarterback Tom Brady says he is struggling to adjust in retirement, but is it really that difficult? Mike Canet talks about the phase of transitioning from the workforce and gives tips on how to create a successful retirement plan for your life goals. He also discusses what you should be doing with dead money and why paying less taxes in retirement is a false statement. See omnystudio.com/listener for privacy information.

What is "Fun-flation" and how can you make it a part of your retirement? Ryan Herbert discusses the importance of building experiences into your retirement plan that won't affect your overall plan. He also talks about the importance of tax planning for the future and what you should be doing with your 401(K) in today's market. Don't miss an episode! Subscribe or follow today! Learn more about the team at Prostatis Financial Advisors Group on their website or on social: Facebook, LinkedIn, Twitter and their NEW YouTube channel and video podcast.See omnystudio.com/listener for privacy information.

How have annuities changed for retirees? Mike Canet discusses one of the most important aspects of a financial plan in retirement and that is having the right tool for the right job. He breaks down how annuities have evolved over the years. He also thanks everyone who has been a part of the Prostatis team as they celebrate 20-years of service in the community. See omnystudio.com/listener for privacy information.

How can a war affect your retirement and the market? Ryan Herbert discusses current geopolitical events and talks about how they could affect your portfolio. He also talks about the difference of a partial retirement and staying busy in retirement. See omnystudio.com/listener for privacy information.

WCBM host Bruce Elliott sits down with Mike Canet to discuss the future of retirement. They talk about the current tax rates and what changes are coming, how the outcome of the 2024 election could affect you financially, and the rising interest rates of the housing market. See omnystudio.com/listener for privacy information.

What can you do with your 401(K) now that you couldn't a decade ago? Ryan Herbert breaks down what changes you can make for retirement and how to do so in the most tax efficient manner possible. He also discusses famous magician David Copperfield and the option of continuing to work in retirement. See omnystudio.com/listener for privacy information.

Ryan Herbert discusses how much money you need when you stop working. He also talks about figuring out what you want to do in retirement and how you're going to afford it, because after all, we'd all love, "The Jimmy Buffet" retirement plan. Find us now on YouTube! Subscribe to be notified of Shorts, our Video Podcast and more insights from the team at Prostatis Financial Advisors Group! Visit us online today and let's get the conversation started. See omnystudio.com/listener for privacy information.

It's not always easy to talk to a family member about retirement, but what are the most important topics to discuss? Mike Canet and Ryan Herbert break these down to help start the process. They also talk about the Tax cuts and Jobs Act, a.k.a. the Trump Tax cuts, which will be sunsetting in 2025. What actions should you be making right now? See omnystudio.com/listener for privacy information.

How do wealthy people stay wealthy? Mike Canet and Ryan Herbert discuss the 4-step method that most wealthy individuals use to maintain their wealth. They also discuss how to reduce your taxes in retirement and Jay Leno talks about the financial plan he created years ago to set himself up for the future. See omnystudio.com/listener for privacy information.

Will you outlive your life savings in retirement? Mike Canet discusses one of the greatest fears most retirees have, do I have enough money? He talks about the best ways to structure a your portfolio and how to withdraw your money in the most tax efficient manner possible. See omnystudio.com/listener for privacy information.

Risk, taxes, and fees…which one is growing in your 401(k)? Is it all three? Do you know how can you get rid the problem? Mike Canet and Ryan Herbert discuss the tools you need to be using today to find out what is in your portfolio so you can avoid disaster. See omnystudio.com/listener for privacy information.

When is the right time to access your 401(k)? Mike Canet and Ryan Herbert breakdown some of the most common mistakes people make when tapping into their 401(k). They also discuss how to sell a business in the most tax efficient manner possible, as well as what steps you should take before the sale. See omnystudio.com/listener for privacy information.

A new survey shows that more than half of stay-at-home moms don’t have a retirement strategy. Are you creating a plan or leaving it in the hands of your spouse? Katherine Groce breaks down what she most commonly see's when a woman steps into her office looking to discuss their financial future. She also discusses the different thought processes between men and women when it comes to retirement.See omnystudio.com/listener for privacy information.

The MLB All-Star break is underway, we look at how teams are doing as they head towards the second half of the season, but when should you stop and look at your portfolio to make sure it’s heading in the right direction for a successful retirement? Ryan Herbert suggests the best time of the year to run an x-ray on your 401(k) and when should you start converting your funds into a Roth IRA.See omnystudio.com/listener for privacy information.

You've received your last paycheck, so what now? Ryan Herbert discusses the transition from being in the workforce to finally saying you've retired. He also talks about working towards the freedom to retire on your own terms and how you should use your financial advisor as a tool for your portfolio. See omnystudio.com/listener for privacy information.

What is financial independence? Mike Canet celebrates the 4th of July by sharing tips and stories about some of his clients who have achieved financial independence in retirement. He also discusses what you should be doing right now to make sure you're not being over taxed. See omnystudio.com/listener for privacy information.

What do you need a financial advisor for? Mike Canet discusses the five reasons to hire an advisor and shares stories about how he’s been able to help his clients save on taxes. He also talks about how to utilize a deferred sales trust, where you should keep your money from a tax standpoint, and how to achieve the retirement you deserve. See omnystudio.com/listener for privacy information.

How much money do you need to retire? Is there a magic number? Ryan Herbert discusses how to set up a budget to show you if you’re on track. He also talks about the financial tips he received from his father and what role artificial intelligence plays in the Prostatis office. See omnystudio.com/listener for privacy information.

Do you have enough money to retire? Ryan Herbert breaks down the 5 most common mistakes made when it comes to finances in retirement. He also talks about the role both spouses should play when creating a plan and what to do if you outlive your significant other. See omnystudio.com/listener for privacy information.

Is there a successfully proven system when it comes to playing the market? Can you plan your retirement solely off stocks? Mike Canet discusses ways to look at investing for the future and how to avoid the vicious cycle of paying unnecessary taxes in retirement. See omnystudio.com/listener for privacy information.

What questions do you need to ask a financial advisor before giving them your life savings? Mike Canet breaks down what you need to know as a consumer to separate an average financial firm from a run of the mill box shop. He also discusses a new statistic regarding investing and your horoscope. See omnystudio.com/listener for privacy information.

A new study shows that over 50% of stay-at-home moms don't have a retirement strategy. Ryan Herbert discusses how you can build a plan as a couple to take care of one another in the occasion that one person passes away. He also talks about a professional golfer who had to give up over half of his winnings, thanks to taxes. Are you living in the most tax efficient manner possible? See omnystudio.com/listener for privacy information.

What is the first thing you should do when creating a retirement plan? Ryan Herbert discusses why creating an income plan that includes taxes is crucial to a successful retirement. He also talks about the significance as to why 59-and-a-half is such an important age and an NFL Quarterback shares some tips on how to save. See omnystudio.com/listener for privacy information.

What is a deferred sales trust and how can you utilize one to reduce your taxes? Mike Canet and Ryan Herbert break down how you can properly set yourself up if you are a small business owner or preparing for the sale of a large amount of real estate. See omnystudio.com/listener for privacy information.

Can a structured note provide a solution to your retirement portfolio? Mike Canet and Ryan Herbert discuss protecting your money as a new report states that 70% of people making 6-figures or more are stressed about their finances. They also talk about figuring out what your retirement income gap is and how you can use an annuity to your advantage. See omnystudio.com/listener for privacy information.

How much money should you be paying the government each year when you file your taxes? Mike Canet explains why a tax refund is not a good thing. He also discusses what you should be doing right now if you are filing an extension, how to take advantage of Roth IRA rules, and a former TV star talks about how an annuity changed his retirement plan.See omnystudio.com/listener for privacy information.

How much of your portfolio are you willing to lose? Mike Canet discusses the roller coaster of the stock market and the affects it can have on your retirement plan. He also talks about the saying, "don't worry the stock market always comes back," but is that true? See omnystudio.com/listener for privacy information.

Mike Canet is joined with Bill Murray and the Murray Brothers to discuss tips for cooking bacon, the best drink Bill's ever had, and much more. He also discusses the rules for the patrons of Augusta National Golf Club for this weekend's Masters tournament and compares them to obsolete items in a retirement plan. See omnystudio.com/listener for privacy information.

Are you paying more than you should when it comes to taxes? Mike Canet discusses what is the right age to start tax planning for the future. He also shares his "3 bad day rule" and which bucket should be the first one you withdraw money from in retirement. See omnystudio.com/listener for privacy information.

How safe is your safe money? Mike Canet breaks down the recent SVB bank collapse and discusses why it’s important to remove risk from your portfolio. He also discusses how to create safe retirement buckets with your spouse and the advantages of working with a team that’s all under one roof.See omnystudio.com/listener for privacy information.

The recent collapse of the Silicon Valley Bank has people asking how safe is my money? Mike Canet and Ryan Herbert discuss what caused the situation at SVB and why it's important to create protection in your portfolio. They also talk about how you can assess your current financial situation to see if you are susceptible to risk in the market. See omnystudio.com/listener for privacy information.

Imagine everything you would have seen and experienced if you turned 100-years-old. Today we celebrate Laverne reaching the century milestone in life. Hear the stories and changes she's seen first hand. Happy Birthday Laverne! See omnystudio.com/listener for privacy information.

Do you know the difference between a CPA and a tax attorney? Mike Canet and Ryan Herbert explain why it's important to restructure your tax buckets for the future. They also talk about a stat that says 90% of financial advisors don't last longer than 3 years in the industry and a famous actor is going back to work so he can build up his inheritance for his kids. See omnystudio.com/listener for privacy information.

Which retirement savings account should you pull from first to prevent paying the most taxes? Mike Canet also discusses turning what you think a retirement should look like into a reality and Slyvester Stallone plans for staying active. See omnystudio.com/listener for privacy information.