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Retire With Integrity Podcast with Brian Bowen
11 minutes | 6 days ago
Are You Using 401K Rollovers Correctly?
What should you be doing (or not doing) when it comes to retirement? Are you doing all you’re supposed to in regards to your rollover? On today’s episode, Brian talks through what you need to know about rollovers and the part they play in your financial plan. Read more and get additional financial resources here: https://financialplanningva.com/podcast/are-you-doing-a-401k-rollover-correctly/ What we discuss on this show: 0:13 - What should you avoid doing with a rollover? 3:15 - Brian shares a client rollover story. 4:36 - What’s the difference between a financial advisor and financial planner? 6:48 - Do you know the rules of your 401(k)?
10 minutes | 13 days ago
What GameStop Stock Taught Us About Risk
The GameStop stock story was crazy to follow but it taught us some important lessons. Does your stock market risk match the kind of risk you can handle? Are you making wise decisions when it comes to your investments? We'll discuss on this show. Read more and get additional financial resources here: https://financialplanningva.com/podcast/what-gamestop-stock-taught-us-about-risk/ 0:12 - What’s been happening with GameStop? 5:07 - How does this differ from a small company? 5:33 - What risk levels are you actually comfortable with? 8:39 - Do you have a process in place? For more, visit us online: https://financialplanningva.com/
11 minutes | 20 days ago
Is the Stock Market About to Burst?
A lot of people are talking about a bubble in the stock market. If that’s the case, are you taking on too much risk? On today’s podcast, Brian discusses the different buckets of money you need to have so you’re financially prepared for now and later. Read more and get additional planning resources here: https://financialplanningva.com/podcast/is-the-stock-market-about-to-burst/ What we discuss on this show: 0:12 - The stock market has been booming lately. Are we in a bubble? 1:29 - What’s happening with some individual stocks? 5:37 - What are the different buckets of money you need? 7:45 - Where might there be bubble? 8:38 - What assumptions about retirement are not true?
11 minutes | a month ago
Should You Be Worried About the Death Tax?
Will your estate be subject to the death tax? How can you plan accordingly now? Read more and get additional financial resources here: https://financialplanningva.com/podcast/should-you-be-worried-about-the-death-tax/ What we discuss on this episode: 0:12 - How can you plan for the death tax if needed? 2:09 - 17 states to potentially impose estate tax. Why? 4:53 - What clients has Brian seen grow and build their wealth? 7:07 - What can you do to pass your estate to the next generation? 7:58 - Why do you need a will and estate plan now?
9 minutes | a month ago
Misinformation About Annuities
Do you know all there is to know about annuities? What about how much you’ll need in retirement? Read more and get additional financial resources here: https://financialplanningva.com/podcast/misinformation-about-annuities/ What we discuss on this episode: 0:15 - What’s a good guaranteed monthly income in retirement? 1:23 - What is an annuity? 4:45 - Men and women argue about a lot of things, such as how much money you need. 6:16 - How can you settle the financial argument?
10 minutes | a month ago
Healthcare Concerns in Retirement
How can you prepare financially for the health issues you may face in retirement? What decisions could make a huge difference in your long-term strategy? Read more and get additional resources here: https://financialplanningva.com/podcast/healthcare-concerns-in-retirement/ What we discuss on this episode: 0:16 - Would one major healthcare issue throw you into bankruptcy? 1:09 - A lot of people want to retire at 65. 2:50 - What about the nursing home? 5:55 - The SECURE Act abolished the stretch IRA. What other options can you use?
8 minutes | 2 months ago
Missed Opportunities in Your Financial Plan
Do you know that you’ll owe taxes on the money you withdraw on your traditional 401(k)? You might look at your balance and think, “Oh, that’s all my money!” But if you have a million dollars in retirement, depending on a few factors such as where you live and your tax bracket, it might be closer to $700,000 once you pay the taxes on it. Do you think taxes are going up? More and more of Brian’s clients want to look at tax strategies as a part of their financial plan while tax rates are low. Whether due to COVID-related income changes or the stage you’re at in retirement, are you paying attention to the opportunities right now? Have you considered a Roth conversion? What options do you have to put yourself in the best position? Brian talks about a client who did a Roth conversion this year who was able to benefit from it in a big way. If you know the tax rate is going up, why aren’t you taking advantage of it now? Same with refinancing, are you taking advantage of the low rates now? There might be some pain in it now, but you’re paying the debt off so can get more tax-free income later. What opportunities are you potentially missing out on right now? Reach out to your advisor to make sure you are considering all of your options. Listen to the entire episode or click on the timestamps below to skip to a particular segment. Read more and get additional financial resources here: https://financialplanningva.com/what-are-the-missed-opportunities-in-your-financial-plan/ What we discuss on this episode: 0:15 - Do you assume you’ll owe taxes on withdrawals from 401(k)? 2:03 - Do you think tax rates are going up? 4:46 - Why do people miss the opportunities available? 5:42 - Check up on what your options are to put yourself in the best position.
6 minutes | 2 months ago
Work From Home Tax Proposal
We all know taxes are inevitable, but what we don’t know is how much taxes will be in the future. Is your retirement plan set accordingly? We’ll discuss an interesting tax proposal that came up recently. Read more and get additional financial resources here: https://financialplanningva.com/work-from-home-tax-proposal/ What we discuss on this show: 0:16 - Some people will continue working from home, even after the pandemic. 1:27 - What do you do to prepare for possible new tax? 3:13 - What kind of government cuts may be necessary? 4:36 - When taxes go up, there’s often nothing you can do.
11 minutes | 2 months ago
Optimism for the Future
So many people have lost income in 2020 due to the pandemic. Depending on what industry you’re in, this might have been a really bad year or a better financial year than usual. Investing consultant Tim Steffan tells Morningstar to look at this as a potential opportunity. What opportunities do you have right now that you might not otherwise? What tax strategies are there to look at? Read more and get additional financial resources here: https://financialplanningva.com/optimism-for-the-future/ What we discuss on this show: 0:16 - The pandemic has caused a lot of people to lose income. What opportunities are available? 2:56 - Brian breaks down what a tax strategy could look like. 5:24 - What kind of tax advice does Brian’s team offer? 6:40 - Why do we all need a tax and estate plan?
8 minutes | 2 months ago
How Far Will $1 Million Get You In Retirement?
The idea of being a millionaire carries a bit of appeal. But in reality, how long does a million dollars last in retirement? We'll discuss today. Read more and get additional financial resources: https://financialplanningva.com/how-far-will-1-million-get-you-in-retirement/ What we discuss on this show: 0:16 - How long would $1 million last in retirement? 3:05 - Certain states are more popular among retirees. Why? 4:49 - Some retirees regret taking Social Security when they did. 5:33 - Brian breaks down the numbers of what Social Security could add up to be.
9 minutes | 2 months ago
End Of Year Tax Conversations
Since we won’t know if the Republicans or Democrats will control the house until January, does that change how we strategize around taxes at the end of this year? President-elect Biden has already said he will raise taxes, so plan accordingly. What do you need to keep in mind now? Do you have a tax strategy? Read more and get additional financial resources here: https://financialplanningva.com/end-of-year-tax-conversations/ What we discuss on this show: 0:16 - What should we do about taxes at the end of the year? 2:54 - Will you be in a lower tax bracket in the future? 5:24 - Small businesses may be especially nervous about potential taxes. 8:29 - How much does it cost to borrow money?
9 minutes | 3 months ago
What Kind of Fees Are You Actually Paying?
Do you get sticker shock when it comes to advisor fees? What fees are you otherwise paying with mutual funds? Let’s talk about the common fees you’ll find associated with retirement accounts. Read more and get additional financial resources here: https://financialplanningva.com/what-kind-of-fees-are-you-actually-paying/ What we discuss on this show: 0:15 - What do new clients know about 401(k) fees? 3:47 - What fees are you really paying? 5:29 - There’s no such thing as no fees. 7:34 - You may pay less in fees by working with an advisor.
9 minutes | 3 months ago
Multi-Generational Legacy Planning
Do you have a legacy plan? Does your financial plan include an estate plan? How can you protect and provide for future generations? Read more and get additional financial resources here: https://financialplanningva.com/multi-generational-legacy-planning/ What we discuss on this show: 0:16 - Are you worried about your future heirs being able to manage their inherited wealth? 1:50 - What are some of the rules and restrictions you can put on it? 3:58 - Will the family business be passed down? 5:50 - What’s your succession plan with your business? 8:09 - Are you trying to make sure your kids and grandkids are taken care of?
9 minutes | 3 months ago
Biden's Tax Plan & End of Year Planning
As we near the end of the year, what do you need to make sure to take care of? From Roth conversions to estate planning, Brian talks about the ways these things can work to your benefit. Read more and get additional financial resources here: https://financialplanningva.com/bidens-tax-plan-end-of-year-planning/ What we discuss on this show: 0:16 - What should you be doing before the end of the year? 1:20 - What does Brian think of the Roth conversion? 3:15 - Taxes are likely going up. 4:40 - How are people feeling about the election? 6:45 - Do Americans blow their inheritance?
8 minutes | 3 months ago
What Happens If the RMD Age is Raised Again?
Have you started thinking about RMDs? At what age will you need to start paying attention to this and why does it matter? We'll discuss on this episode. Read more and get additional financial resources here: https://financialplanningva.com/what-happens-if-the-rmd-age-is-raised/ What we discuss on this show: 0:16 - Congress recently increased the RMD age. Is that good or bad? 2:37 - What’s the difference between tax avoidance and tax evasion? 4:14 - Why are there RMDs? 6:38 - How often do people know they can think strategically about taxes?
10 minutes | 4 months ago
Money Isn’t Everything
Are you motivated by money? Or are you more motivated by personal fulfillment? What do you want both of those things to look like in retirement? That's what we'll discuss on this episode. Read more and get additional financial resources here: https://financialplanningva.com/money-isnt-everything/ What we discuss on this show: 0:15 - What does Brian love about his job? 2:16 - What are you going to do in retirement? 3:55 - Do you know what you’re paying in fees? 6:02 - Your money will have to last you longer than you think. 8:59 - People are living longer.
11 minutes | 4 months ago
Saving Up Little Wins
When it comes to saving for retirement, it’s usually not about inheriting one big lump sum. Instead, are you working hard and storing up little wins? Read more and get additional financial resources here: https://financialplanningva.com/saving-up-little-wins/ What we discuss on this show: 0:16 - If coronavirus spikes, could we see another market crash? 3:10 - While cases are up, hospitalizations are not as frequent. 5:17 - In retirement, you don’t get do-overs. 7:56 - What do you need to know about saving for retirement? 9:15 - Planning for retirement is like building a million-dollar house
13 minutes | 4 months ago
How To Leverage Your Health Savings Account
Are you saving in an HSA right now? Do you know how and why it may be a helpful part of your investment plan? Find out more on today’s podcast! Read more and get additional financial planning resources here: https://financialplanningva.com/how-to-leverage-your-health-savings-account/ What we discuss on this show: 0:16 - FOX News is reporting a rush of people getting an estate plan. 2:03 - Estate planning isn’t just about getting a will. 4:38 - How does estate planning impact people who are not wealthy? 7:23 - Is an HSA good for covering long-term care costs?
8 minutes | 4 months ago
Is An Annuity Right For You?
Do you have an annuity? Should you? How can you tell if it’s a good or bad idea? Let’s talk about this income-generating investment. Read more and get additional financial resources here: https://financialplanningva.com/is-an-annuity-right-for-you/ What we discuss on this show: 0:16 - Economists say one of the most underutilized tools are annuities. 1:21 - What makes you a good candidate for an annuity? 4:23 - Aren’t annuities bad? 5:33 - Brian’s team always does an inspection on your annuities. 6:43 - What are your expectations with your annuity?
7 minutes | 5 months ago
Fighting Off Inflation
As we get closer and closer to the election, how should you prepare from a financial standpoint? Are there ways to protect your portfolio from added volatility? On today’s podcast, Brian discusses the different ways Biden’s tax plan could impact people, some in ways that aren’t being talked about often. Would his tax plan affect you? How will the economy react? Read more and get additional financial resources here: https://financialplanningva.com/fighting-off-inflation/ What we discuss on this show: 0:16 - Where’s Brian’s favorite place to eat? 1:39 - Many restaurants are raising prices. 3:48 - What do you do about inflation? 6:27 - You still need an emergency fund.
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