Retire Ready With Kyle Hammerschmidt podcast

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محتوای ارائه شده توسط Kyle Hammerschmidt. تمام محتوای پادکست شامل قسمت‌ها، گرافیک‌ها و توضیحات پادکست مستقیماً توسط Kyle Hammerschmidt یا شریک پلتفرم پادکست آن‌ها آپلود و ارائه می‌شوند. اگر فکر می‌کنید شخصی بدون اجازه شما از اثر دارای حق نسخه‌برداری شما استفاده می‌کند، می‌توانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal

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American Criminal

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From Airship, the studio behind American Scandal, American History Tellers, and History Daily, comes a true crime history podcast that takes you inside the minds of some of our most notorious felons and outlaws, exploring the dark side to the American dream. Host Jeremy Schwartz will introduce you to the picture-perfect brothers who teamed up to kill their parents; the thief who stole babies and ruined countless lives; the crypto king who siphoned off billions in the name of saving the world—and plenty more. From assassins and gangsters, to killers and con artists, whatever the case, whoever the criminal, you don’t know the full story—until now. Listen wherever you get your podcasts, or to get early, ad-free access to the entire season first, plus hundreds of other ad-free history podcast episodes, subscribe at IntoHistory.com.

Retire Ready with Kyle Hammerschmidt

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Make sure you can Retire Ready with Kyle Hammerschmidt, the President of MOKAN Financial in Overland Park, KS. Kyle will teach you on each episode how to properly plan for retirement and your financial future. Learn about IRAs, 401ks, pensions, Social Security, and much more. Contact Kyle with any questions at https://mokanwealth.com or by calling 913-257-3991.

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#Trading #Business News #Business #News #Kyle Hammerschmidt #Retirement #MOKAN #Financial Planning #Retirement Planning #Retire Ready #Kansas #IRA #401k #Roth

Retire Ready with Kyle Hammerschmidt

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#Trading #Business News #Business #News #Kyle Hammerschmidt #Retirement #MOKAN #Financial Planning #Retirement Planning #Retire Ready #Kansas #IRA #401k #Roth

Tutti gli episodi

Retire Ready with Kyle Hammerschmidt

1
Maximize Your Retirement Savings: New 2025 Contribution Limits and Strategies 8:21

10 weeks پیش8:21

پخش در آینده

لیست ها

پسندیدن

دوست داشته شد

8:21

Send us a text This week on Retire Ready , host Kyle Hammerschmidt breaks down the latest updates and strategies to help you maximize your retirement savings. With big changes to contribution limits thanks to the Secure Act 2.0, it’s more important than ever to stay informed and plan ahead. 🎧 Highlights from the Episode: 🚀 2025 Contribution Limit Updates : Learn about the new limits for 401(k), 403(b), 457 plans, and the federal Thrift Savings Plan—now up to $23,500 (with even bigger boosts for those 60–63). 💼 Catch-Up Contributions : Why these changes are a game-changer for pre-retirement savers and how you can take full advantage. 🏦 IRA Contribution Insights : Uncover the key differences in IRA and Roth IRA limits for 2025, including strategies like the Backdoor Roth IRA for high-income earners. 💡 The Power of Compounding : Why investing consistently, no matter the market, is the key to long-term growth. Kyle's expert tips will empower you to make informed decisions and build a comfortable retirement nest egg. Whether you’re decades away or Connect With Us: Website: https://mokanwealth.com/ Tik Tok: https://www.tiktok.com/@retirewithkyle Instagram: https://www.instagram.com/retirewithkyle/ Facebook: https://www.facebook.com/mokanwealth Retire Ready Academy: https://retirereadyacademy.org/ nearing retirement, this episode is packed with actionable insights. #RetireReady #RetirementPlanning #SecureAct2 #401k #RothIRA #FinancialFreedom Sources: 1. 401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000 | Internal Revenue Service 2. Older Workers to Get ‘Super’ 401(k) Catch-Up Contributions in 2025 - The New York Times 3. Backdoor Roth IRA: Advantages and Tax Implications Explained 4. What the new 401(k) limits and other changes mean for your retirement Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Top 5 Reasons to Do Roth Conversions Before Retirement With $1M+ In Retirement Savings 10:14

11 weeks پیش10:14

10:14

Send us a text In this episode, Kyle, dives into one of his favorite tax planning tools: Roth conversions. If you’ve got over a million dollars saved in your retirement accounts, this could be the most impactful eight minutes of your week. Learn how Roth conversions can transform your retirement savings, offering benefits like tax-free withdrawals, freedom from Required Minimum Distributions, and protection against future tax hikes. Discover how they can help diversify your income, optimize your estate plan, and even lower your future Medicare premiums. Kyle breaks it all down with real-life examples, clear explanations, and actionable insights tailored for those in their 50s or 60s aiming for a work-optional lifestyle. Whether you’re planning for the future or refining your strategy, this episode equips you with the knowledge to decide if Roth conversions are right for you. Subscribe for more tips on navigating your financial journey and unlocking the retirement of your dreams! Connect With Us: Website: https://mokanwealth.com/ Tik Tok: https://www.tiktok.com/@retirewithkyle Instagram: https://www.instagram.com/retirewithkyle/ Facebook: https://www.facebook.com/mokanwealth Retire Ready Academy: https://retirereadyacademy.org/ Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Social Security Secrets: What Every Soon-to-Be Retiree Should Know 13:00

12 weeks پیش13:00

13:00

Send us a text Welcome to Retire Ready, the podcast that simplifies the complexities of retirement planning so you can confidently prepare for your golden years. Hosted by Kyle Hammerschmidt, this show dives into crucial topics like Social Security, retirement income strategies, and the decisions that can make or break your financial future. In this episode, we cover: The basics of Social Security: how it works and how to qualify. The impact of claiming Social Security early vs. delaying benefits. Spousal and ex-spousal benefits: what they are and how to maximize them. The current state of Social Security and the projected 2035 trust fund depletion. Taxes on Social Security benefits and strategies to minimize them. Cost of Living Adjustments (COLA) and how inflation affects your benefits. Tips for maximizing your retirement income with smart Social Security planning. Whether you're just starting to think about retirement or you're nearing the finish line, Retire Ready equips you with the knowledge to make informed decisions and achieve financial peace of mind. Planning your retirement starts now—tune in and take charge of your future! Connect With Us: Website: https://mokanwealth.com/ Tik Tok: https://www.tiktok.com/@retirewithkyle Instagram: https://www.instagram.com/retirewithkyle/ Facebook: https://www.facebook.com/mokanwealth Retire Ready Academy: https://retirereadyacademy.org/ Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Understanding the Taxation of Social Security Benefits: What You Need to Know 10:27

13 weeks پیش10:27

10:27

Send us a text In this episode, Kyle dives into a critical yet often misunderstood aspect of retirement planning: the taxation of Social Security benefits. Many assume these benefits are tax-free, but the reality can be a costly surprise for retirees. Kyle breaks down the basics of Social Security taxation, explains how your income impacts tax thresholds, and shares actionable strategies to reduce your tax burden. You'll learn how to calculate your "combined income," why up to 85% of your benefits might be taxable, and how federal and state rules can differ. Kyle also explores practical approaches like strategic withdrawals, Roth conversions, and the timing of benefits to help you keep more of your hard-earned income. Whether you're nearing retirement, already retired, or planning ahead, this episode is packed with insights to help you make smarter financial decisions and safeguard your golden years. Tune in to gain the knowledge and confidence to maximize your Social Security benefits and minimize your tax liabilities. Ready to take the confusion out retirement? Let’s dive in! Connect With Us: Website: https://mokanwealth.com/ Tik Tok: https://www.tiktok.com/@retirewithkyle Instagram: https://www.instagram.com/retirewithkyle/ Facebook: https://www.facebook.com/mokanwealth Retire Ready Academy: https://retirereadyacademy.org/ Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Navigating the Social Security Benefits Application Process 13:06

14 weeks پیش13:06

13:06

Send us a text Podcast Description: In this episode of Retire Ready with Kyle Hammerschmidt , we’re tackling one of the most critical steps in your retirement journey: applying for Social Security benefits. Whether you're planning to claim at 62, hold out until 70, or fall somewhere in between, this episode has you covered with actionable advice. Kyle breaks down the application process step-by-step, including how to gather the right documents, decide whether to apply online or in person, and track your application once it’s submitted. You’ll also learn how to time your first benefit payment, weigh the pros and cons of withholding taxes, and navigate key decisions that could maximize your benefits. With relatable stories, helpful examples, and Kyle’s signature straightforward style, this episode demystifies Social Security and helps you make informed choices that align with your unique retirement goals. Ready to take the confusion out of Social Security? Let’s dive in! Connect With Us: Website: https://mokanwealth.com/ Tik Tok: https://www.tiktok.com/@retirewithkyle Instagram: https://www.instagram.com/retirewithkyle/ Facebook: https://www.facebook.com/mokanwealth Retire Ready Academy: https://retirereadyacademy.org/ Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Married 59: The Road to Retirement in 5 Years | Case Study 20:08

15 weeks پیش20:08

20:08

Send us a text In this week’s episode, host Kyle Hammerschmidt dives into a detailed case study of "John and Mary," a married couple from Kansas, both aged 59, preparing to retire in five years. Kyle breaks down their financial landscape, including $1.7 million in tax-advantaged retirement accounts, Social Security strategies, and their goals of maintaining their current lifestyle while minimizing lifetime tax burdens. From restructuring investments to navigating Roth conversions, this episode offers valuable insights for pre-retirees aiming to secure their financial future. If you're curious about balancing growth, income, and market volatility in your retirement portfolio, or wondering how to make Social Security decisions that fit your plan, this episode is packed with actionable advice. Connect With Us: Website: https://mokanwealth.com/ Tik Tok: https://www.tiktok.com/@retirewithkyle Instagram: https://www.instagram.com/retirewithkyle/ Facebook: https://www.facebook.com/mokanwealth Retire Ready Academy: https://retirereadyacademy.org/ Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Six Point Checklist: Hiring a Financial Advisor for Retirement 10:53

16 weeks پیش10:53

10:53

Send us a text Planning for retirement is a journey, and choosing the right financial advisor is one of the most critical decisions you'll make. In this episode of Retire Ready, host Kyle Hammerschmidt unpacks the essentials for finding the perfect advisor to guide you through the complexities of retirement planning. 🔑 What You'll Learn: - The Six-Point Checklist: - Fee-only financial advisors and why their transparency matters. - The importance of independence for unbiased advice. - Fiduciary duty and its impact on your financial future. - Tax-focused planning to minimize your retirement tax burden. - Tailored strategies designed for your unique financial goals. - Why your advisor's age and specialization make a difference. - Actionable Tips: How to evaluate potential advisors and align their expertise with your retirement needs. - Real Insights: Examples and explanations to help you navigate the "decumulation phase" with confidence. Whether you're within 10 years of retirement or on the cusp, this episode equips you with the knowledge to secure your financial future. Connect With Us: Website: https://mokanwealth.com/ Tik Tok: https://www.tiktok.com/@retirewithkyle Instagram: https://www.instagram.com/retirewithkyle/ Facebook: https://www.facebook.com/mokanwealth Retire Ready Academy: https://retirereadyacademy.org/ Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Never Too Late for a Roth Conversion? The Retiree's Tax-Slashing Secret 11:59

17 weeks پیش11:59

11:59

Send us a text In this episode, Kyle dives into a real-world retirement planning case study featuring a pre-retiree couple in their early 60s with diverse income streams, including Social Security, pensions, rental income, and investments. This discussion addresses three main concerns: maximizing Social Security, implementing a strategic Roth conversion plan, and developing an efficient withdrawal strategy. Kyle highlights how the couple’s financial choices—such as delaying Social Security, leveraging Roth conversions, and adjusting spending based on market performance—will impact their financial security over time. Tune in to learn how these strategies are customized to balance income needs, manage taxes, and build flexibility for future adjustments. This episode is packed with insights on how to prepare for early retirement, navigate market fluctuations, and support long-term goals, making it a must-listen for anyone approaching retirement. Connect With Us: Website: https://mokanwealth.com/ Tik Tok: https://www.tiktok.com/@retirewithkyle Instagram: https://www.instagram.com/retirewithkyle/ Facebook: https://www.facebook.com/mokanwealth Retire Ready Academy: https://retirereadyacademy.org/ Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Navigating 2025 Tax Brackets and Beyond: Essential Tips for Tax Planning 11:29

18 weeks پیش11:29

11:29

Send us a text In this episode, we’re diving into a topic that’s going to impact everyone’s finances in the coming year: the new 2025 federal income tax brackets. The IRS recently announced adjustments to the tax bracket ranges to keep up with inflation, helping taxpayers avoid "bracket creep" — the phenomenon where inflation alone pushes you into a higher tax bracket without any real gain in purchasing power. We’ll break down what these changes mean for different income levels and compare them to 2024’s brackets. Plus, we’ll explore updates to the standard deduction, which could significantly affect your taxable income. And looking ahead, we’ll discuss the upcoming sunset of the Tax Cuts and Jobs Act and its potential effects on tax rates. By the end of this episode, you’ll have a clear understanding of how these adjustments could affect your take-home pay, retirement planning, and overall tax strategy. Tune in to get informed and empowered to make smart decisions in the evolving tax landscape. Sources: https://www.thetaxadviser.com/issues/2023/dec/tax-planning-for-the-tcjas-sunset.html https://www.kiplinger.com/taxes/new-income-tax-brackets-are-set Connect With Us: Website: https://mokanwealth.com/ Tik Tok: https://www.tiktok.com/@retirewithkyle Instagram: https://www.instagram.com/retirewithkyle/ Facebook: https://www.facebook.com/mokanwealth Retire Ready Academy: https://retirereadyacademy.org/ Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Married Couple with $2.2M: When Can We Retire? 22:00

19 weeks پیش22:00

22:00

Send us a text In this episode, we explore essential retirement strategies through a real-life case study. Topics include: Crafting a sustainable retirement income plan Roth conversion strategies and how they can benefit retirees Maximizing Social Security to enhance income Tax-efficient withdrawal strategies for lasting savings Navigating retirement income guardrails to minimize risk Aligning financial goals with a tailored retirement plan Whether you're preparing for retirement or already retired, this episode is filled with insights to help secure your financial future and achieve peace of mind. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
2025 Social Security Changes: COLA Update and New Rules for Working Retirees 10:25

20 weeks پیش10:25

10:25

Send us a text In today’s episode, we’re diving deep into the 2025 Social Security changes that will impact your retirement plans. We’ll cover the essential updates, including: 2025 COLA Increase Earnings Limits for Working Retirees Impact on Your Benefits Holistic Retirement Planning Whether you're already retired or planning your retirement, this episode is packed with valuable insights to help you make the most of your Social Security benefits. Be sure to subscribe, rate, and review to stay updated with more retirement planning tips and strategies! Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Roth Conversion Mastery: 5 Golden Windows to Unlock Tax-Free Retirement Wealth 18:27

21 weeks پیش18:27

18:27

Send us a text In this episode, Kyle covers Roth conversions and how they can revolutionize your retirement strategy. Key topics include: The "five golden windows" for optimal Roth conversions How Roth IRAs and conversions work, including income limits and tax benefits Understanding backdoor Roth IRAs for high-income earners Strategies to minimize taxes and maximize tax-free retirement income Long-term planning tips for legacy building and Social Security optimization Whether you're looking to cut down taxes or secure your financial future, this episode is packed with actionable tips to help you retire smarter. Subscribe, rate, and review for more retirement insights! Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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5 Reasons Risk Tolerance Shouldn't Drive Your Investment Portfolio: A Holistic Approach to Retirement Planning 13:43

22 weeks پیش13:43

13:43

Send us a text Join Kyle as he dives deep into the critical distinction between risk tolerance and risk capacity, two essential components for building a successful retirement strategy. In this episode, Kolin explains the emotional and rational sides of risk and how they influence investment decisions. Discover real-world examples and learn why understanding your true financial situation is more important than relying solely on your gut feeling. Key Highlights: Risk Tolerance vs. Risk Capacity Real-Life Examples Time Horizon Importance Holistic Approach Limitations of Risk Questionnaires Education Matters Tune in to learn how to craft a retirement strategy that aligns with both your emotional comfort and rational financial goals. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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A Comprehensive Guide to Retirement: Social Security, Taxes, and Investment Returns 19:54

23 weeks پیش19:54

19:54

Send us a text In this episode, we dive into the top concerns for individuals nearing retirement, such as how to maximize Social Security benefits, implement tax-efficient strategies, and develop a comprehensive retirement plan that goes beyond just investments. Discover overlooked strategies that can help you keep more of your income and minimize risks as you plan for a secure retirement. Tune in to learn actionable tips and insights on: Maximizing Social Security benefits beyond the typical advice of "waiting until 70." Implementing tax-efficient strategies to reduce lifetime tax bills by six to seven figures. Navigating employer retirement benefits for a smooth transition into retirement. Developing investment strategies to maximize returns and minimize risk before and after retirement. Utilizing Roth conversions and optimizing the timing for long-term tax savings. Structuring effective withdrawal strategies to maximize income and reduce tax burdens. Avoiding common pitfalls such as Social Security taxation and sequence of returns risk . Creating a comprehensive financial plan that aligns all the moving parts of your financial life. Whether you’re 10 years away from retirement or just beginning to plan, this episode will guide you through the most important yet often overlooked aspects of retirement planning! Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Mastering Medicare: 9 Essential Tips for Understanding Your Healthcare Coverage 10:12

24 weeks پیش10:12

10:12

Send us a text Are you feeling overwhelmed by Medicare and healthcare coverage? Join Kyle Hammersmith, where he breaks down the essentials of Medicare into nine easy-to-understand tips. From the basics of Medicare parts A, B, C, and D to crucial enrollment periods and cost considerations, this episode empowers you to navigate your healthcare benefits confidently. Episode Highlights: Understanding Medicare Medicare Parts Explained Enrollment Periods Cost Breakdown Medigap and Medicare Advantage Income Considerations Working Past 65 Whether you’re approaching retirement or just want to better understand your healthcare options, this episode equips you with the knowledge you need. Tune in and take control of your healthcare coverage today! Don’t forget to like, rate, and review for more retirement planning tips. Your retirement starts now! Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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5 Critical Tax Planning Strategies for Your Retirement: Roth Conversions and Beyond 12:19

25 weeks پیش12:19

12:19

Send us a text Today, Kyle Hammerschmidt dives deep into the crucial topic of tax planning for retirement, focusing on Roth conversions, tax diversification, and essential strategies for those within 10 years of retirement. Tax planning is a vital, yet often overlooked, part of retirement preparation. By understanding how to manage your taxes effectively, you can save thousands and ensure you’re not leaving money on the table. In this video, we’ll explore: - Tax Diversification - Roth Conversions - Timing Roth Conversions - Integrating Roth Conversions into Your Overall Strategy - Potential Pitfalls to Avoid - Bonus Section By the end of this podcast, you’ll have a clear understanding of the five key aspects of tax planning that could significantly impact your retirement. Don’t let tax inefficiencies eat into your hard-earned savings—learn how to optimize your tax strategy today! 👉 Subscribe to Retire Ready for more valuable insights and tips to make your retirement years as fulfilling as possible. 👍 Like, Rate, and Review if you find this video helpful, and leave your questions or thoughts in the comments below! Time Stamps: 00:43 - Introduction to Tax Planning and Its Importance 02:19 - Understanding Roth Conversions 04:32 - Timing Your Roth Conversions 06:49 - Integrating Roth Conversions into Your Tax Strategy 09:14 - Pitfalls to Avoid in Tax Planning 11:39 - Bonus Section: Roth Conversions After Age 73 Connect with Us: Website: https://mokanwealth.com/ Tik Tok: https://www.tiktok.com/@retirewithkyle Instagram: https://www.instagram.com/retirewithkyle/ Facebook: https://www.facebook.com/mokanwealth #taxplanning #RothConversions #RetirementPlanning #FinancialFreedom #retireready Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Maximizing Social Security for Couples: The Ultimate Guide to Dual Benefits 7:16

26 weeks پیش7:16

7:16

Send us a text This episode of Retire Ready with Kyle Hammerschmidt is your ultimate guide to maximizing Social Security benefits for married couples. Whether you’re approaching retirement or just starting to plan, you won’t want to miss these crucial strategies that could put thousands of extra dollars in your pocket. In this episode, you’ll learn: Understanding Social Security Basics: How benefits are calculated based on your earnings record and what options are available for married couples. Spousal Benefits Explained: The ins and outs of claiming spousal benefits and how to potentially receive up to 50% of your spouse’s benefit. Effective Strategies: Key strategies like the "split strategy" and the benefits of having the lower-earning spouse claim first. Survivor Benefits: How to plan for survivor benefits and ensure financial security for the surviving spouse. Advanced Claiming Strategies: The "restricted application" for those who turned 62 by the end of 2015 and how it can benefit your long-term financial plan. Important Considerations: How to evaluate your full retirement age, health, and overall financial situation when planning your benefits. Common Pitfalls to Avoid: Mistakes to watch out for, such as not coordinating claiming strategies and the impact of continuing to work while receiving benefits. Action Steps: Practical steps to get estimates of your benefits and the value of consulting a financial advisor. Real-Life Example: A case study of John and Jane, showcasing how different claiming strategies can maximize lifetime benefits. Listen now to discover how careful planning and strategic claiming can enhance your retirement security and ensure you and your spouse get the most out of Social Security! Don’t forget to subscribe and leave us a review if you found this episode helpful. For personalized advice, consult with a financial advisor to tailor these strategies to your specific situation. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Mastering Retirement: Key Mistakes and How to Avoid Them 11:43

27 weeks پیش11:43

11:43

Send us a text Welcome to the Retire Ready Podcast! In this episode, hosts Kolin and Kyle explore essential tips to avoid common retirement planning mistakes. Key topics include: Emotional Investing: How letting emotions drive your investment decisions can impact your long-term financial health. Social Security Timing: The consequences of claiming Social Security at the wrong time and how to make strategic decisions based on your overall plan. Estate Planning Essentials: Why having a comprehensive estate plan is crucial, regardless of your wealth level, and the key elements you need to include. Income Planning: The importance of having a detailed income strategy, understanding cash flow, and preparing for market fluctuations. Tune in to gain practical insights and strategies for a secure and successful retirement. Don’t let common mistakes derail your plans—learn how to navigate your retirement journey with confidence! Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Retirement Planning for What You Can and Cannot Control 15:08

28 weeks پیش15:08

15:08

Send us a text In this episode, Kyle and Kolin dive into the crucial topic of control in retirement planning. They discuss three aspects you can’t control, such as tax rates, inflation, and market volatility, and how to navigate these challenges effectively. They also explore three critical elements you can control, including withdrawal rates, risk management, and lifetime taxes. Join us as we cover: Uncontrollable Factors : How future tax laws, inflation, and market volatility impact your retirement plan. Controllable Factors : Strategies for managing withdrawal rates, investment risk, and lifetime taxes to optimize your financial future. Proactive Planning : Why taking control now can significantly benefit your retirement and tax strategies. Whether you’re preparing for retirement or already in it, understanding what you can and cannot control will equip you with the tools to build a resilient and rewarding retirement plan. Don’t let uncertainty hold you back—tune in and start planning your retirement with confidence. Catch us every week for more insights and practical advice. If you enjoy the show, please like, rate, and review. For more resources and to start your retirement planning journey, visit retirereadyacademy.org and mocanwealth.com . Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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7 Investment Mistakes to Avoid for a Smoother Retirement Journey 16:16

29 weeks پیش16:16

16:16

Send us a text In this episode of the Retire Ready Podcast, Kyle and Kolin dive into the common investment pitfalls that can derail your retirement planning. From the risks of confusing short-term and long-term investments to the dangers of letting emotions and media hype dictate your decisions, they cover essential strategies to help you stay on track. Tune in for practical advice and insights to keep your retirement plan robust and resilient. In this episode, you’ll learn: Understanding Short-Term vs. Long-Term Money: Why distinguishing between these types of investments is crucial for managing risk and returns. Avoiding Election-Driven Investment Decisions: How political events and media fear-mongering can impact your investment choices and why staying informed is key. The Perils of Blindly Picking Stocks: Why random stock selection and following unverified tips can undermine your long-term investment success. The Mistake of Relying on Hope: How hoping for favorable market conditions isn’t a strategy and why a solid financial plan is essential. The Risks of Media Influence: Why relying on TV personalities or social media for stock advice can lead to poor investment outcomes. Emotions in Investing: The impact of emotional decisions on your investment strategy and how education can help mitigate these effects. Timing the Market vs. Staying Invested: Why trying to time the market can be detrimental and the benefits of long-term investment strategies. Join us for actionable insights that will help you navigate the complexities of investment planning and move confidently towards a secure retirement. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Seven Questions to Ask Yourself Before Retirement 15:12

30 weeks پیش15:12

15:12

Send us a text In this episode of the Retire Ready Podcast, hosts Kyle and Kolin delve into the crucial questions you need to consider before entering retirement. Whether you're planning to retire soon or just starting to think about it, this episode is packed with practical insights and advice to help you prepare. The hosts cover seven essential questions, including: When to Claim Social Security? Planning for Healthcare and Unexpected Costs? Managing Inflation and Economic Changes ? Tax Planning? Generating Income in Retirement? Assessing Your Savings Needs? Creating a Legacy ? Join Kyle and Kolin as they break down these topics and provide actionable advice to help you navigate the complexities of retirement planning. Tune in to gain clarity on your retirement journey and ensure you're well-prepared for the future. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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The Secret to Social Security Success: Timing and Tips That Could Change Your Retirement 11:49

31 weeks پیش11:49

11:49

Send us a text Are you nearing retirement and wondering when to start claiming Social Security? In this episode, Kyle and Kolin dive deep into one of the most crucial financial decisions you'll make in retirement. They discuss: Timing Your Claim: When is the best time to start claiming Social Security benefits? Should you take it early, at full retirement age, or delay for maximum benefits? Impact of Other Factors: How do your cash needs, life expectancy, marital status, and employment status affect your decision? Tax Implications: Understand how Social Security benefits are taxed and strategies to minimize your tax burden. Strategic Planning: Learn about integrating Social Security with other retirement income sources, including IRAs, 401(k)s, and pensions, to optimize your overall financial plan. Whether you're just two years out from retirement or planning for the future, this episode will provide valuable insights to help you make an informed decision about your Social Security benefits. Don’t miss out on these essential strategies to ensure you maximize your retirement income! Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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The Importance Of Tax Diversification 17:38

32 weeks پیش17:38

17:38

Send us a text Summary The conversation discusses the importance of tax diversification in retirement planning. It explains the concept of tax diversification and how it can help individuals control their taxes over their lifetime. The conversation also explores the three tax buckets: non-qualified taxable money, tax-deferred money, and tax-exempt money. It emphasizes the need to spread out money across these buckets to optimize tax planning. The conversation further delves into strategies such as Roth conversions and tax gain/loss harvesting to maximize tax efficiency. It concludes by highlighting the benefits of tax diversification in reducing tax bills, maximizing Social Security benefits, and leaving a tax-friendly legacy. Takeaways Tax diversification is an important aspect of retirement planning to control taxes over a lifetime. Spreading out money across different tax buckets, such as non-qualified taxable money, tax-deferred money, and tax-exempt money, can optimize tax planning. Strategies like Roth conversions and tax gain/loss harvesting can help maximize tax efficiency. Tax diversification can reduce tax bills, maximize Social Security benefits, and leave a tax-friendly legacy. Understanding the impact of tax rates, RMDs, and Social Security claiming strategies is crucial in tax diversification. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Planning For Sequence Of Returns Risk | Case Study 28:31

33 weeks پیش28:31

28:31

Send us a text In this episode, Kolin and Kyle discuss a case study of a married couple who retired with $1.5 million in tax-deferred accounts. The couple had several concerns, including when and how to claim Social Security, the need for more comprehensive financial planning, uncertainty about how much they could spend in retirement, adjustments needed in a down market, and how to distribute their pre-tax money in a tax-efficient manner. The hosts also highlight common tax mistakes that can impact retirement and the importance of considering sequence of returns risk. They provide suggestions for tax planning, including early Social Security claiming, Roth conversions, and creating a comprehensive retirement plan. Takeaways Consider the best strategy for claiming Social Security based on your individual circumstances and goals. Seek comprehensive financial planning that goes beyond pie charts and includes tax planning. Determine your desired spending capacity in retirement and make adjustments as needed. Be aware of the potential impact of market downturns and have a plan in place to adjust spending if necessary. Consider the tax implications of your retirement accounts and explore strategies like Roth conversions. Avoid common tax mistakes in retirement, such as assuming you will pay less taxes, not planning for Social Security taxation, ignoring taxes altogether, and withdrawing from accounts in the wrong order. Understand the concept of sequence of returns risk and its potential impact on your retirement. Create a comprehensive retirement plan that addresses your specific concerns and goals. Consider whether you are better off managing your retirement planning yourself or seeking professional help. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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$2 Million Household Retirement Plan 18:05

34 weeks پیش18:05

18:05

Send us a text In this episode, Kolin and Kyle continue their case study of a married couple with $2 million in assets who are close to retirement. They discuss the income plan, tax planning, and investment strategies for the couple. The income plan includes exploring spending options, maximizing Social Security benefits, and choosing a withdrawal strategy. The tax planning focuses on proactive Roth conversions to lower long-term tax bills. The investment strategy involves setting aside three years of portfolio income in stable assets and adjusting spending based on portfolio values. The key takeaways include the importance of comprehensive planning, the need for proactive tax strategies, and the benefits of aligning all financial aspects of retirement. Takeaways Comprehensive retirement planning involves considering income, tax, and investment strategies. Proactive tax planning, such as Roth conversions, can save significant money in the long term. Setting aside three years of portfolio income in stable assets can help mitigate sequence of returns risk. Regular monitoring and adjustment of the retirement plan is necessary to adapt to changing circumstances. Aligning all financial aspects of retirement, including investments and advisors, is crucial for a successful retirement plan. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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$4 Million Household Retirement Plan 23:37

35 weeks پیش23:37

23:37

Send us a text In this episode, Kolin and Kyle discuss a case study of a married couple in their mid-50s who are planning for retirement. The couple has a desired retirement age of 61 for the husband and 62 for the wife. They currently have an income of $270,000 and a desired retirement income of $144,000 per year. Their assets include $3.1 million, with the majority in tax-deferred accounts. At retirement, they are expected to have roughly $4 million. The couple's primary goals are to focus on tax diversification, create a comprehensive retirement plan, and optimize their income and tax strategies. They also discuss the importance of tax efficiency and investment management in retirement planning. Takeaways It is important to have a comprehensive retirement plan that includes tax diversification and tax planning. Consider your desired retirement age and income when creating a retirement plan. Focus on tax efficiency and minimize your tax bill in retirement. Investment management is crucial in retirement planning to ensure the required rate of return and manage risk. Regularly review and update your retirement plan to adapt to changing circumstances. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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We Have $1.9 Million & Retiring In 3 Years, How Much Can We Spend? 17:44

36 weeks پیش17:44

17:44

Send us a text Summary In this episode, Kolin and Kyle walk through a retirement income plan for a couple who are planning to retire in the next few years. They discuss the couple's income levels, assets, and spending capabilities. They also explore different strategies for maximizing social security, tax planning, and investment planning. The episode emphasizes the importance of spending more early in retirement and optimizing tax smart planning. The hosts also highlight the need to address sequence of returns risk and create a comprehensive retirement plan. Takeaways A retirement income plan should consider income levels, assets, and spending capabilities. Maximizing social security, tax planning, and investment planning are important aspects of retirement planning. Spending more early in retirement and optimizing tax smart planning can lead to a more comfortable retirement. Addressing sequence of returns risk is crucial to ensure the success of a retirement plan. Creating a comprehensive retirement plan involves considering all aspects of financial planning. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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9 Misconceptions About Roth Conversions 18:40

37 weeks پیش18:40

18:40

Send us a text In this episode, Kolin and Kyle discuss nine misconceptions about Roth conversions. They debunk the idea that Roth IRAs are always better than IRAs, explaining that the choice depends on individual circumstances. They also emphasize the importance of comprehensive tax planning and caution against winging it or converting large amounts without a strategy. The hosts address the misconception that Roth conversions prevent contributions to a Roth IRA and clarify that conversions do not count against modified adjusted gross income. They also discuss the misconception that paying the tax bill from savings is the only option and explain the potential penalties for underpayment. The hosts highlight the need for flexibility and multiple strategies when it comes to Roth conversions, cautioning against chasing a completely tax-free retirement. Finally, they debunk the idea that Roth conversions must be completed before required minimum distributions (RMDs) kick in, explaining that conversions can still be done after RMDs to lower future distributions. Takeaways The choice between Roth IRAs and IRAs depends on individual circumstances and tax planning. Comprehensive tax planning is crucial when considering Roth conversions. Converting large amounts without a strategy can lead to overpaying in taxes. Roth conversions do not prevent contributions to a Roth IRA. Paying the tax bill from savings is not the only option for Roth conversions. Multiple strategies and flexibility are important when planning Roth conversions. Chasing a completely tax-free retirement may not be optimal for most individuals. Roth conversions can still be done after required minimum distributions (RMDs) to lower future distributions. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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We Have $1.7 Million, How Much Can We Spend In Retirement? 17:24

38 weeks پیش17:24

17:24

Send us a text In this episode, Kyle and Kolin discuss a case study of a married couple near retirement. The couple plans to retire in 12 months and has a planning life expectancy of 90 for the wife and 85 for the husband. Their primary insurance amount for Social Security is $2,800 and $2,200 per month. They have a net essential spending goal of $6,000 per month with a 4% cost of living adjustment. The couple has a total asset value of $1.7 million, with a heavy emphasis on tax-deferred accounts. Their concerns include maximizing spending early in retirement, tax planning, and investment strategies for the fragile decade. The solutions discussed include Roth conversions, tax-efficient planning, and adjusting income based on portfolio performance. Takeaways Plan for retirement by considering life expectancy, Social Security benefits, and essential spending goals. Maximize spending early in retirement without sacrificing the longevity of savings. Implement tax-efficient strategies such as Roth conversions and understanding the impact of taxes on retirement income. Consider investment strategies to protect against market volatility during the fragile decade of retirement. Regularly review and adjust income based on portfolio performance and market conditions. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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3 Withdrawal Strategies For Retirement Income 19:23

39 weeks پیش19:23

19:23

Send us a text Summary In this episode, Kyle and Kolin discuss three common retirement portfolio income strategies: spending portfolio income, the 4% rule, and risk-based income guardrails. They explore the pros and cons of each strategy and provide examples to illustrate their application. The conversation delves into the nuances of each strategy, highlighting the considerations and implications for retirees. Takeaways Understanding the different retirement portfolio income strategies is crucial for retirees to make informed decisions about their financial future. The 4% rule, spending portfolio income, and risk-based income guardrails each have unique pros and cons that should be carefully evaluated based on individual retirement goals and financial circumstances. Dynamic income strategies, such as risk-based income guardrails, offer flexibility and the potential for increased spending, but also require careful monitoring and adjustment based on market performance and portfolio value. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Sequence of Returns Risk With Investing Near/In Retirement 20:46

40 weeks پیش20:46

20:46

Send us a text This episode goes into the intricacies of investing in retirement, focusing on long-term S&P growth, sequence of returns risk, and bucket approaches. It emphasizes the impact of market volatility on retirement income and the importance of strategic investment decisions. The episode concludes with a call to action for seeking professional advice. Takeaways Understanding the impact of market volatility on retirement income The importance of strategic investment decisions in retirement planning The significance of sequence of returns risk in retirement investing The value of seeking professional advice for retirement planning How Long It Takes To Recover Source 2000-2009 S&P 500 Source 2010-2019 S&P 500 Source 2000-2023 S&P 500 Source S&P 500 Long Term Returns Source Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Investing Near & In Retirement 18:09

41 weeks پیش18:09

18:09

Send us a text Summary In this episode of the Retire Ready podcast, Kolin and Kyle discuss investing in and near retirement. They start by explaining the difference between accumulation and decumulation phases and the importance of focusing on decumulation as retirement approaches. They then dive into the concept of 'naked investing,' where many people invest without a clear strategy or understanding of why they are investing. Kyle emphasizes the need for a thoughtful and well-planned approach to investing near and in retirement, considering factors like protection, liquidity, and growth. He also discusses the importance of tax planning and understanding market volatility. Takeaways As retirement approaches, it's important to shift focus from accumulation to decumulation and develop a strategy for investing near and in retirement. Many people engage in 'naked investing,' investing without a clear strategy or understanding of why they are investing. Investing near and in retirement requires considering factors like protection, liquidity, and growth. Tax planning is crucial in retirement investing to minimize long-term tax bills. Understanding market volatility and having a realistic perspective on returns is essential for successful investing in retirement. First Trust: https://www.ftportfolios.com/COMMON/CONTENTFILELOADER.ASPX?CONTENTGUID=4ECFA978-D0BB-4924-92C8-628FF9BFE12D Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

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Paying Taxes Now vs Paying Taxes Later 25:51

42 weeks پیش25:51

25:51

Send us a text Summary In this episode, Kolin and Kyle discuss steps five and six of a tax-efficient retirement plan. Step five involves deciding whether to pay taxes now or later, considering factors such as income levels, deductions, and retirement account contributions. Step six focuses on the ongoing management of the plan, including diversifying income sources, maximizing Social Security, and adjusting strategies based on tax law changes. The episode highlights common mistakes to avoid, such as assuming lower taxes in retirement and withdrawing from retirement accounts in the wrong order. Takeaways Deciding whether to pay taxes now or later in retirement requires considering factors such as income levels, deductions, and retirement account contributions. Ongoing management of a tax-efficient retirement plan is crucial and involves diversifying income sources, maximizing Social Security, and adjusting strategies based on tax law changes. Common mistakes to avoid include assuming lower taxes in retirement, neglecting Roth IRAs and 401(k)s, ignoring taxes altogether, and withdrawing from retirement accounts in the wrong order. Executing a tax-efficient retirement plan requires action, implementation, and sticking to the plan. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Maximizing Retirement Spending & Minimizing Your Overall Tax Bill 20:10

43 weeks پیش20:10

20:10

Send us a text Summary In this episode, Kyle and Kolin discuss steps three and four of a tax-efficient retirement plan. Step three focuses on understanding the order of withdrawals, which involves categorizing money by tax impact and developing a withdrawal strategy. The goals of a withdrawal strategy include maximizing retirement spending, minimizing taxes, enhancing portfolio longevity, reducing long-term tax bills, and eliminating or reducing taxes on Social Security benefits. Step four involves understanding tax bracket capacity and planning for tax-efficient withdrawals. The hosts provide examples and case studies to illustrate these concepts. Takeaways Understanding the order of withdrawals is crucial for developing a tax-efficient retirement plan. A withdrawal strategy can help maximize retirement spending, minimize taxes, and enhance portfolio longevity. Measuring tax bracket capacity is important for planning tax-efficient withdrawals. Tax-efficient withdrawals can help reduce long-term tax bills and eliminate or reduce taxes on Social Security benefits. Proper planning and understanding of tax strategies can lead to a more secure and tax-efficient retirement. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
The 3 Tax Buckets In Retirement 22:04

45 weeks پیش22:04

22:04

Send us a text Summary In this episode, Kyle and Kolin discuss the three tax funnels that can be used to build a tax-efficient retirement plan. The first funnel is the tax later bucket, where contributions are made with pre-tax dollars, such as employer plans and IRAs. Distributions from this account are taxed as income. The second funnel is the tax now bucket, where contributions are made with after-tax dollars, such as brokerage accounts. The growth or income from this account is subject to taxes. The third funnel is the tax never bucket, which includes Roth plans where contributions are made with after-tax dollars and distributions are tax-free. The hosts also provide a case study to illustrate how these tax funnels can be applied in practice. Takeaways There are three tax funnels to consider when building a tax-efficient retirement plan: tax later, tax now, and tax never. The tax later bucket includes contributions made with pre-tax dollars, such as employer plans and IRAs. Distributions from this account are taxed as income. The tax now bucket includes contributions made with after-tax dollars, such as brokerage accounts. The growth or income from this account is subject to taxes. The tax never bucket includes Roth plans, where contributions are made with after-tax dollars and distributions are tax-free. It's important to understand the tax implications of each funnel and consider the best withdrawal strategy to minimize taxes and maximize income in retirement. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Understanding Provisional Income & How It Affects Taxes On Your Social Security 20:02

46 weeks پیش20:02

20:02

Send us a text In this episode, Kolin and Kyle discuss step number one of a tax-efficient retirement plan: provisional income. Provisional income is used to determine whether a portion of your Social Security benefits are taxable. The four components of provisional income are non-taxable interest, ordinary income, dividends and capital gains, and half of the household Social Security benefit. They provide examples of two different strategies: the traditional strategy, where most income is subject to federal tax rates, and a tax-efficient strategy, where proactive tax planning is used to lower the tax bill and keep more of the Social Security benefits. They emphasize the importance of running the numbers and considering different strategies to maximize tax efficiency in retirement. Takeaways Provisional income is used to determine whether a portion of your Social Security benefits are taxable. The four components of provisional income are non-taxable interest, ordinary income, dividends and capital gains, and half of the household Social Security benefit. There are different strategies to maximize tax efficiency in retirement, such as the traditional strategy and a tax-efficient strategy that involves proactive tax planning. Running the numbers and considering different strategies can help lower the tax bill and keep more of the Social Security benefits. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
The 6 Steps To A Tax-Efficient Retirement Plan 24:42

47 weeks پیش24:42

24:42

Send us a text Summary In this episode of the Retire Ready Podcast, Kolin and Kyle discuss the importance of tax planning in retirement. They highlight the underappreciation of tax planning by pre-retirees and their financial advisors, and emphasize that the lack of tax planning can result in paying more taxes than necessary. The hosts provide six steps to building a tax-efficient retirement plan, including mastering provisional income, categorizing money by tax impact, strategizing the order of withdrawals, measuring tax bracket capacity, deciding between paying taxes now or later, and engaging in ongoing tax planning. They also discuss common mistakes to avoid in retirement tax planning. Takeaways Tax planning is a critical part of retirement that is often underappreciated by pre-retirees and their financial advisors. The lack of tax planning can result in paying more taxes than necessary. Building a tax-efficient retirement plan involves mastering provisional income, categorizing money by tax impact, strategizing the order of withdrawals, measuring tax bracket capacity, deciding between paying taxes now or later, and engaging in ongoing tax planning. Common mistakes to avoid in retirement tax planning include assuming that taxes will be lower in retirement, ignoring how Social Security is taxed, neglecting Roth IRAs and Roth 401(k)s, disregarding taxes altogether, and taking money from accounts in the wrong order. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Hiring A Financial Advisor: The 6 Biggest Mistakes to Avoid 19:20

48 weeks پیش19:20

19:20

Send us a text Summary In this conversation, Kyle and Kolin discuss the mistakes people make when hiring a financial advisor. They highlight 6 key mistakes and provide advice on how to avoid them. The mistakes include ignoring the importance of tax planning, not having a strategic investment plan, confusing fee-based and fee-only advisors, focusing on investments before comprehensive planning, relying on big financial firms for guidance, and not seeking a customized retirement plan. The conversation emphasizes the need for a clear understanding that not all financial advisors are created equal and encourages listeners to make informed decisions when deciding to partner with a financial advisor. Takeaways Not all financial advisors are created equal, so it's important to do thorough research and make informed decisions when hiring one. Tax planning is a crucial aspect of retirement planning that should not be ignored. It's important to have strategies in place to minimize tax bills and protect social security benefits. Having a strategic investment plan that focuses on income and cashflow is essential for a successful retirement. Understanding the difference between fee-based and fee-only advisors is important. Fee-only advisors are typically more transparent and have fewer conflicts of interest. Focusing on comprehensive planning before diving into investments is crucial. A customized retirement plan that considers taxes, income, healthcare, estate planning, and other factors is essential. Choosing a financial advisor solely based on name recognition or the size of the firm may not be the best approach. Consider working with independent firms that prioritize personalized service. Avoiding these common mistakes can lead to a more successful and fulfilling retirement journey. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Mailbag: Should I Take Social Security Now Or Wait Until I’m Done Working? 14:22

1 year پیش14:22

14:22

Send us a text This week on the show, we’re diving into the mailbag to answer some recent listener questions that have landed in Kyle’s inbox. He will share his thoughts on these inquiries and share helpful tips for those of you who might’ve found yourself in a similar situation. Stay tuned to see what you can learn! Here are the questions we tackle in today’s show: I’m 67 and have reached full retirement age for Social Security, but I don’t plan on retiring soon. Should I go ahead and take it now because I’m eligible? A majority of my 401 K is invested in company stock. I understand that I'm not diversified, but I feel like it's okay because I am invested in the company and what they're working towards. I've enjoyed the growth in my 401(k) over the years despite volatility. But how do I know when it's time to step away from the roulette wheel? My brother mentioned a law requiring my kids to withdraw a significant amount from my IRA within the first 10 years after my death. What’s the deal here? I’ve spent 40 years saving and investing and now that I'm about to retire, I can't even comprehend going the other direction and pulling the money out. Is this a normal thing people struggle with? Helpful Info: Kyle's website: http://www.mokanwealth.com/ Phone: 913-257-3991 Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Money Mistakes You'll Regret and How to Avoid Them 16:00

1 year پیش16:00

16:00

Send us a text “Learn from the mistakes of others. You can’t live long enough to make them all yourself.” – Eleanor Roosevelt… Ever wish you could foresee financial missteps before they happen? In today’s episode explore some real-life stories of regret and arm yourself with the essential dos and don'ts to ensure your money works for you, not against you. Here’s some of what we discuss in this episode: Avoiding premature IRA withdrawals Spending too much in your peak earning years + being aware of “lifestyle creep” Being mindful of overspending on your child's education The risks that come with retiring early without a proper plan The importance of your diversifying retirement savings across various tax buckets Helpful Info: Kyle's website: http://www.mokanwealth.com/ Phone: 913-257-3991 Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Retirement Planning’s “Hidden” Questions 14:03

1 year پیش14:03

14:03

Send us a text The retirement planning world is filled with plenty of advice and suggestions, but there are critical questions lurking in the shadows – the unasked, the overlooked. These are the questions that can help define the comfort and security of your retirement future. In this episode, we unearth and tackle these hidden, but essential questions about retirement. Here’s some of what we discuss in this episode: The implications of tax-deferred accounts and how they affect your retirement How much can you safely withdraw from your retirement savings each year? Do you really need life insurance in retirement? The hidden costs and gaps in Medicare coverage Understanding the true costs and fees associated with your investments We hope you enjoy the show! Helpful Info: Kyle's website: http://www.mokanwealth.com/ Phone: 913-257-3991 Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Are There Universal Retirement Truths? (PART 2) 14:38

1 year پیش14:38

14:38

Send us a text Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree? We’ve split this list of 10 truths into two episodes, and part one focused on income planning, long-term care, investing, longevity and inflation. Today we close out the final five retirement truths by covering investing guidance, taxes, working in retirement, and estate planning. Here are the truths we’ll discuss in this episode: Diversifying your investments across a mix of asset classes is essential for risk management. Emotions can be an investor’s worst enemy. Understanding the tax consequences of your investments is essential. Retirement doesn’t mean complete disengagement from work. Estate planning isn’t just for the wealthy. We hope you enjoy the show! Helpful Info: Kyle's website: http://www.mokanwealth.com/ Phone: 913-257-3991 Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Are There Universal Retirement Truths? (PART 1) 12:58

1 year پیش12:58

12:58

Send us a text Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree? Dive deep in this episode, where we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board. We’ve broken it down into a list of 10 truths and we’ll tackle the first five in part one today. Here are the truths we’ll discuss in this episode: Everyone needs an income plan to ensure that they have enough money coming in each month to cover their lifestyle. Everyone needs a plan to address long term care issues. Nobody can consistently time the stock market and have success. Nobody knows how long they’re going to live so we need to plan for a long retirement. Money sitting in cash isn’t keeping up with inflation so what other options do you have? We hope you enjoy the show! Helpful Info: Kyle's website: http://www.mokanwealth.com/ Phone: 913-257-3991 Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Exposing Retirement Planning Complaints 15:52

۲ years پیش15:52

15:52

Send us a text In this episode, we’re tackling some common complaints and fears that can arise during the retirement planning process. These complaints often include concerns about advisors taking too much risk, dissatisfaction with account growth, high fees, worries about Social Security not being enough to retire on, and more. We'll discuss which concerns are well-founded, which are based on misconceptions, and offer insight on how retirees can best navigate their financial future. Here are some key takeaways from this episode: If you feel like your advisor is taking too much risk, consider your individual risk tolerance and goals + understand the trade-off between risk and return. Focus on the value provided by your advisor, not just the cost. While fees are important, cheaper doesn’t always mean better. Investment accounts might not always experience consistent growth, and fluctuations are part of long-term investing. Understanding your investment choices and financial plan is key! Financial plans should be explained by your advisor in simple, easy-to-understand terms. We hope you enjoy the show! Helpful Info: Kyle's website: http://www.mokanwealth.com/ Phone: 913-257-3991 Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

Retire Ready with Kyle Hammerschmidt

1
Breaking Up is Hard: Navigating the Transition to a New Financial Advisor 14:50

۲ years پیش14:50

14:50

Send us a text In today's episode, we'll explore the sensitive and significant process of transitioning from one financial advisor to another. We'll cover how to recognize when your current advisor may no longer be serving your financial needs effectively, the right questions to ask, and crucial factors to consider when searching for a new financial partner. Join us as we explore the value of finding an advisor who aligns with your financial goals, offers personalized strategies, and provides emotional support for your retirement journey. Remember, retirement planning requires thoughtful consideration, so don't hesitate to make the change that will secure your financial future. Here are some key takeaways from this episode: Look for an advisor whose philosophy and personality align with your financial goals and preferences. They should be able to explain their strategies clearly and be transparent about their services and fees. Once you've decided to transition to a new advisor, have a courteous conversation with your current advisor, keeping it professional and concise. The new advisor should handle most of the paperwork and make the process smooth for you. Don't judge your new advisor solely on recent performance. Consider the broader value they bring to your financial life, such as alleviating stress, providing education, and tailoring strategies to meet your unique needs. Helpful Info: Kyle's website: http://www.mokanwealth.com/ Phone: 913-257-3991 Licensed Insurance Professional. We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. Investing involves risk, including possible loss of principal. Insurance product guarantees are backed by the financial strength and claims-paying ability of the issuing company. We are not affiliated with any government agency. Subscribe to The Retire Ready Weekly Newsletter Get more information on The Retire Ready Academy Looking for personalized financial planning? Visit our website Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.…

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