Dave brings back Brian Britt this week to discuss cash flow planning in retirement planning. The chat covers the challenges of transitioning from wealth accumulation to distribution, the significance of guaranteed income, and the impacts of market volatility and inflation on retirees.

They also delve into the decline of traditional pensions, strategies for maximizing Social Security benefits, and common misconceptions about annuities. The episode highlights the importance of balancing volatile "casino" investments with secure "vault" assets to ensure a financially stable retirement plan.

Support the show

Follow us on Instagram: @retirementriskadvisors
Like us on Facebook: Retirement Risk Advisors

In this episode, you are treated to a deep dive into the complexities of retirement planning. This episode is especially critical for those who are nearing the final stretch of their careers and looking to maximize their retirement contributions over the last decade.

Dave methodically breaks down the array of retirement accounts available, from traditional IRAs and Roth IRAs to 401Ks and the increasingly popular Solo 401Ks. The episode sheds light on how Solo 401Ks present a simpler and more cost-effective option for self-employed individuals, allowing for significant management flexibility.

Key discussion points include the importance of maximizing annual contributions and the strategic benefit of leveraging both traditional and Roth IRAs. Dave elaborates on the diverse investment opportunities afforded by self-directed retirement accounts, such as real estate, cryptocurrencies, and even more exotic options like zoos. However, he also offers crucial warnings about prohibited transactions and the serious tax implications of failing to comply with regulations.

Listeners will gain insights into the timely strategy of IRA conversions and the backdoor Roth approach, particularly in light of potential future tax increases. Dave also covers SEP and SIMPLE IRA plans, which are tailored for small business owners, and underscores the value of employer matches in 401K plans.

Throughout the episode, Dave emphasizes the vital role of professional advice in navigating the retirement planning landscape and directs listeners to retirementriskadvisors.com for additional tools and resources.

If you are ready to take action to get to a safer, more secure retirement visit our site: www.retirementriskadvisors.com.

Support the show

Follow us on Instagram: @retirementriskadvisors
Like us on Facebook: Retirement Risk Advisors

Dave explains what RMDs are, why they matter, and how recent changes in the law have affected when retirees must start taking these distributions from their tax-deferred retirement accounts.

Throughout the episode, Dave covers various strategies to manage RMDs effectively, such as drawing down accounts early, doing Roth conversions, continuing to work, donating to charity, and using qualified longevity annuity contracts. He also clarifies common misconceptions about RMDs, like the belief that distributions must be taken from each account separately.

Dave emphasizes the importance of holistic retirement planning that considers taxes, estate planning, charitable giving, and more. He likens retirement planning to preparing for a potential hurricane - it's crucial to hope for the best but plan for the worst.

Support the show

Follow us on Instagram: @retirementriskadvisors
Like us on Facebook: Retirement Risk Advisors