Join us each week as celebrity guests pitch an idea for a film based on one of the SUPER niche sub-genres on Netflix. From ‘Steamy Crime Movies from the 1970s’ to ‘Australian Dysfunctional Family Comedies Starring A Strong Female Lead’, our celebrity guests will pitch their wacky plot, their dream cast, the marketing stunts, and everything in between. By the end of every episode, Jimmy Carr, Comedian by night / “Netflix Executive” by day, will decide whether the pitch is greenlit or condemned to development hell! New episodes on Wednesdays starting May 28th! Listen on all podcast platforms and watch on the Netflix is a Joke YouTube Channel . The Big Pitch is a co-production by Netflix and BBC Studios Audio.…
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Вміст надано Liz Whitteberry. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Liz Whitteberry або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
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Final RMD Regulations: What You Need to Know
Manage episode 433098340 series 3378480
Вміст надано Liz Whitteberry. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Liz Whitteberry або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
The first week of August might be National Simplify Your Life Week, but one thing that remains complex is managing your IRA and other tax-deferred accounts. These accounts are subject to the Required Minimum Distribution (RMD) Rules, which can be confusing to navigate. Fortunately, the IRS recently issued final regulations to help clarify these rules, and in the episode, Liz will cover the main rules you need to know.
Listen in as we dive into the important changes brought by the SECURE Act and SECURE 2.0 and share some items to consider if you’re an IRA owner, beneficiary or still working. As we navigate these regulations, remember that working with a qualified financial advisor can make all the difference. By staying informed and proactive, you can simplify your financial life and achieve a successful and happy retirement.
Here’s some of what we discuss in today’s show:
- Why did we need the final RMD regulations?
- The new IRA inheritance rules for eligible and non-eligible beneficiaries
- Rules for non-designated and contingent beneficiaries
- Some things to consider if you’re an IRA owner, beneficiary or still working
Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube
68 епізодів
ПоширитиManage episode 433098340 series 3378480
Вміст надано Liz Whitteberry. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Liz Whitteberry або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
The first week of August might be National Simplify Your Life Week, but one thing that remains complex is managing your IRA and other tax-deferred accounts. These accounts are subject to the Required Minimum Distribution (RMD) Rules, which can be confusing to navigate. Fortunately, the IRS recently issued final regulations to help clarify these rules, and in the episode, Liz will cover the main rules you need to know.
Listen in as we dive into the important changes brought by the SECURE Act and SECURE 2.0 and share some items to consider if you’re an IRA owner, beneficiary or still working. As we navigate these regulations, remember that working with a qualified financial advisor can make all the difference. By staying informed and proactive, you can simplify your financial life and achieve a successful and happy retirement.
Here’s some of what we discuss in today’s show:
- Why did we need the final RMD regulations?
- The new IRA inheritance rules for eligible and non-eligible beneficiaries
- Rules for non-designated and contingent beneficiaries
- Some things to consider if you’re an IRA owner, beneficiary or still working
Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube
68 епізодів
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Losing a spouse is an unimaginably tough life event, but the financial implications can add another layer of stress to the grieving process. In this episode, we delve deep into the most common financial issues faced by widows and widowers, from dealing with income gaps to navigating tax changes as a single filer. We explore actionable strategies to address these problems, such as the importance of life insurance, the ins and outs of spousal pension continuation, and how Roth conversions can offer critical tax advantages for surviving spouses. Here’s some of what we discuss in today’s show: Planning ahead to ease financial burdens after losing a spouse Managing income gaps: Social Security loss, pension choices, and strategies Understanding tax changes for surviving spouses Using Roth conversions to reduce future taxes The benefits of trusts versus wills Avoid The Widow’s Tax Trap Video: https://youtu.be/GZBhlwWRELQ Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Can you really retire when the market is down? Do you have enough stability in your portfolio to weather the storm? In this episode, Liz answers that exact question by walking through the practical steps and mindset shifts that make a confident retirement possible- even in uncertain times. With volatility on the rise and recession concerns growing, more soon-to-be retirees are wondering if their timing is off. Here’s some of what we discuss in today’s show: Proactive vs. reactive retirement strategies How retiring in a down market can work The danger of high withdrawal rates in volatile years What “guardrails” can do for your income plan Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Since the day he took office, President Trump planned to implement tariffs, and he carried that out last week. The immediate market reaction was very negative. How might this impact your personal finances and the economy over the long term? Here’s some of what we discuss in today’s show: What tariffs are and their historical context How tariffs can raise prices and affect markets The psychology behind panic-selling Smart strategies for managing market uncertainty Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
We’re in the middle of tax season, and you may have heard that annuities can provide tax benefits. Who is that true for, and are there any side effects? Today, we’re going to clear up some of the confusion around the advantages and disadvantages of annuities. Liz will also provide some tips on what you need to know before considering an annuity. Here’s some of what we discuss in today’s show: What is an annuity? The different “flavors” of annuities available The advantages and disadvantages of annuities When might an annuity be a good fit? Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Tax season is here, but filing your 2024 return is just one piece of the puzzle. Now is also the perfect time to take advantage of new tax rules for 2025- before the year gets away from you. With higher standard deductions, increased retirement contribution limits, and updated HSA rules, there are plenty of opportunities to lower your tax bill and boost your savings. In this episode, we’ll break down the key changes and how you can start planning now to make the most of them. Here’s some of what we discuss in today’s show: The annual inflation-based adjustments to the 7 income tax brackets Maximizing 401K contributions and the increased limit for 2025 IRA contribution limits and strategies The 2025 HSA contribution limit Liz’s insights on making smart tax moves today for a more efficient retirement Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Just like the lights on your dashboard can indicate if something is wrong with your car (like low tire pressure or leaking oil), there are indicators in your financial life that might point out that you have a problem that needs to be addressed. In today’s episode, Liz is going to cover 5 areas that you should review. Here are the warning signs we discuss in today’s show: You have no idea what it costs to fund your lifestyle You’re focused on attaining a certain net worth or account balance Your mental image of retirement is based on what your parents had You get worked up about current events because of the impact you feel they might have on your portfolio You think nursing home expenses will take care of themselves Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
If you’ve spent years successfully managing your own investments, do you really need a financial advisor? That’s the question Bob, one of our listeners, sent in. He’s got an MBA, knows the markets well, and has always handled his portfolio solo. So, is working with an advisor just an extra expense, or could it actually add real value? In this episode, we break down when and why even experienced investors might benefit from professional guidance and when they’re probably fine on their own. Here’s some of what we discuss in today’s show: Where financial advisors provide value that DIY investors might not consider Some common blind spots or mistakes that smart DIY investors tend to overlook How experienced investors should plan for a future where they don’t want to (or can’t) actively manage their portfolios What Liz would say to investors who doubt that an advisor can help improve their finances Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
You face risks every day and in every stage of life. But retirees face some unique challenges that are important to talk about and plan for. In today’s episode, Liz and Marc explore the 4 risks unique to retirees, their potential impact on your financial future, and what steps you can take to prepare. Here’s some of what we discuss in today’s show: Accumulation vs. decumulation Why the timing of market returns can impact your nest egg in retirement The risk of outliving your savings How tax strategies can help minimize what you owe and maximize what you keep Having a plan for unexpected expenses, like healthcare costs, natural disasters, and more The article that inspired today’s episode: https://www.advisorperspectives.com/articles/2023/01/03/the-four-unique-risks-in-decumulation Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Imagine you could read your financial advisor’s mind before you even walked through the door for the first time. What would they want you to know? In this episode, we bring you the game-changing insights financial pros wish every saver and investor understood. Here’s some of what we discuss in today’s show: What you’re truly paying for your investments The motivations behind the information you hear on TV The importance of setting realistic financial goals and checking in on them That “one-size-fits-all” advice doesn’t work Financial decisions are emotional, and that’s okay The importance of reviewing and updating your plans regularly Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
We all know that rebalancing our portfolio is important, but when should we do it? Is it a December tradition- a January jumpstart? Or should it be triggered by your life changes or a change in the economy? In this episode, Liz dives into the art of rebalancing. From calendar-based strategies to threshold triggers, life events, and market shifts, Liz breaks down the when, why, and how of keeping your portfolio aligned with your goals. Tune in to learn how rebalancing can optimize your investments and keep you on track for a confident retirement. Here’s some of what we discuss in today’s show: What is rebalancing and why is it important? What is calendar-based rebalancing? What is threshold-based rebalancing? How do life events impact rebalancing? Should market conditions drive rebalancing? Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Studies show that 70% of families lose their wealth in two generations, and 90% lose it in three. The reasons behind this are varied, but one thing that can help keep a family’s legacy intact is open communication and solid planning. And what better time to start those important conversations than during the holidays? In today’s episode, Liz and Marc will share some key questions to help you have deeper money discussions with your loved ones. Here’s some of what we discuss in today’s show: What is the most important money lesson you learned from your parents, grandparents, or other role models? What is the one thing you would want your children or grandchildren to remember about money? If you reach a point where you’re physically or mentally unable to care for yourself, what do you want your kids to do? If money were no object, what would you love to do the most? Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Retirement planning raises a lot of important questions. Have you saved enough? When should you begin collecting Social Security? Is long-term care insurance a wise choice? While these are all essential considerations, it’s not uncommon for other important questions to go unasked. Liz recently came across a blog post that addresses seven crucial questions frequently missed in retirement planning. Join us for today’s discussion as we explore these questions and their potential impact on your retirement plan. Have you considered these factors? Here are a few of the unasked questions we’ll discuss today: When will our life be downsized? What will happen to our taxes when the first spouse dies? What if we can’t drive? Are the kids on board with providing care- or are we just assuming they are? Unasked Questions Blog Post https://humbledollar.com/2024/08/unasked-questions/ Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Did you know this week is National Retirement Security Week? This is a great time to have a conversation about financial wellness. Just like an annual checkup is important for maintaining good health, performing regular financial checkups is an essential part of planning for a healthy and successful retirement. In today’s episode, we’re going to talk about areas you should pay attention to at every stage, whether you’re far away from retirement, approaching retirement soon, or already retired. Liz shares her expertise on setting clear retirement goals, managing cash flow, developing effective investment strategies, and more. Don’t miss these valuable insights to help keep you on track! Here’s some of what we discuss in today’s show: Setting clear financial goals + keeping track of your budgeting and spending Maintaining an emergency fund to handle unexpected expenses and emergencies Having the right investment strategy based on your time horizon and cash flow needs Successfully managing and reducing your debt levels Proactively preparing for healthcare costs and taxes What Liz’s follow-up process looks like Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Social Security is the backbone of retirement for millions of Americans, but big changes may be coming. In this episode, we dive into the recently released proposal to raise the full retirement age to 69 and what it means for your benefits, future, and financial security. Stay tuned as Liz breaks down the history of Social Security, the reasons behind these proposal changes, and the potential long-term effects on individuals born after 1965. Discover how these changes might reshape your retirement planning and what steps you can take to prepare. Tune in now and ensure your financial future is on the right path! Here’s some of what we discuss in today’s show: The proposal to raise the Social Security age to 69 The potential impact on benefits and early retirement The potential increase in the delayed retirement credit age to 72 Social Security’s financial stability + this proposal's long-term impact The pros and cons of raising the FRA to 69 Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
There’s an old saying that goes, “Nothing in life is certain except death and taxes.” Yet the only thing certain about taxes is that we’re going to have them and not how much they’re going to be. In today’s episode, we’ll explore a thought-provoking blog post that discusses where to save your money if you’re concerned about future tax rates. Many people believe that deferring taxes now and paying them later- by maxing out your 401(k)- is the best strategy. But is that really the optimal choice given the unpredictability of future tax rates? Join us as Liz unpacks this question and shares her insights on historical tax rates, government spending, and the likelihood of future tax increases. Here’s some of what we discuss in today’s show: 0:00 – Intro 2:08 – The debate over maxing out 401k 4:30 – Marginal tax vs effective tax 9:29 – Why maxing out could be wrong 13:26 – Liz’s takeaways Nothing Is Certain Except Debt and Taxes Blog Post: https://ofdollarsanddata.com/nothing-is-certain-except-debt-and-taxes/ Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
A retired YouTuber recently created a video that went viral, sharing the top 5 regrets from retirees in their 70s. The video has garnered nearly half a million views, and for good reason. In it, retirees express regrets such as not retiring earlier or missing out on travel opportunities while they were still able. In this video, Liz will talk about these common regrets and discuss how having a comprehensive retirement plan can help you avoid making the same mistakes. Tune in to learn proactive steps you can take to ensure you have a fulfilling and regret-free retirement! Here are the regrets we discuss in today’s show: They wish they had retired earlier They wish they had spent more when they first retired They wish they took better care of their health They wish they had taken up a hobby They wish they had traveled more Check out the video: https://www.youtube.com/watch?v=mNUSJ3juAbA Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
In today's episode, we're going to dive into some famous words by the one and only Yogi Berra, inspired by Liz’s recent trip to Fenway Park. You might know him for his legendary baseball career, but Yogi was also a gold mine of wisdom. When we look at some of his quotes through the right prism, they can teach us some lessons about financial planning. Take Yogi’s quote, “If you don’t know where you’re going, you might wind up someplace else.” It serves as a great reminder that a comprehensive financial plan is important. Retirement planning is not just about accumulating wealth, after all, it’s about having a clear vision of what you want your golden years to look like. We’re excited to share a bit of humor and a whole lot of wisdom with you today! Here are the quotes we discuss in today’s show: “I never said most of the things I said.” “A nickel ain’t worth a dime anymore.” “If you don’t know where you’re going, you might wind up someplace else.” “When you come to a fork in the road, take it.” “The future ain’t what it used to be.” “It’s like déjà vu all over again.” “It ain’t over till it’s over.” Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
The first week of August might be National Simplify Your Life Week, but one thing that remains complex is managing your IRA and other tax-deferred accounts. These accounts are subject to the Required Minimum Distribution (RMD) Rules, which can be confusing to navigate. Fortunately, the IRS recently issued final regulations to help clarify these rules, and in the episode, Liz will cover the main rules you need to know. Listen in as we dive into the important changes brought by the SECURE Act and SECURE 2.0 and share some items to consider if you’re an IRA owner, beneficiary or still working. As we navigate these regulations, remember that working with a qualified financial advisor can make all the difference. By staying informed and proactive, you can simplify your financial life and achieve a successful and happy retirement. Here’s some of what we discuss in today’s show: Why did we need the final RMD regulations? The new IRA inheritance rules for eligible and non-eligible beneficiaries Rules for non-designated and contingent beneficiaries Some things to consider if you’re an IRA owner, beneficiary or still working Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Age is just a number- except for when it comes to retirement planning. In fact, the financial planning process is filled with key milestones that you need to be aware of as you plan for a secure future. In today’s episode, we’ll talk about the birthdays you need to pay close attention to. From catch-up contributions at 50 to Medicare at 65, tune in as Liz shares some helpful insights and tips to help you make the most of each milestone. We thought this would be the perfect conversation to have as we celebrate 50 episodes of the podcast! By staying informed and planning ahead, you can navigate the path to a secure and fulfilling retirement. Here are a few milestones we discuss in today’s show: Getting serious about retirement planning at age 50 + catch-up contributions and Roth IRAs Penalty-free distributions from retirement plans at 59.5 + in-service rollovers and bucket plan roadmap Starting Medicare at age 65 + SSA-44 and credible coverage Reaching your full retirement age at 66 or 67 + getting your full Social Security benefit Filing for Social Security at age 70 + the "start-stop-restart" strategy and the benefits of QCDs at age 70.5 Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
As you approach retirement, the complexities surrounding your 401(k) can become overwhelming. Liz gets a lot of questions about 401(k)s and understands how tricky they can be to navigate. That’s why in today’s episode, she’s going to cover some of the biggest 401(k) questions for someone getting ready to retire soon. From understanding catch-up contributions to tax implications, Liz covers numerous factors to ensure a smooth transition into your golden years. With insights on the importance of diversifying your retirement savings and making strategic adjustments, this episode is a must-listen for anyone 5-10 years out from retirement. Remember, having a solid roadmap is crucial, and if you have 401(k) questions on your mind, the best thing you can do is sit down with a financial advisor to get personalized advice. Here’s some of what we discuss in today’s show: Should I contribute as much as I can to my 401(k) or only as much as the company will match? Can I make catch-up contributions to my 401(k)? If so, how much and when? When should I take money out of my 401(k) and roll it over to an IRA? What are the tax implications of contributing to a 401(k), and how does it affect my take-home pay? How should I adjust my 401(k) investments as I get closer to retirement? What are the risks and benefits of including company stock in my 401(k)? Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Target date funds were introduced in the mid-1990s as a way to simplify retirement investing. These funds are essentially mutual funds that invest in a mix of other mutual funds, tailored to fit a specific time horizon. While these funds are convenient and offer a “set it and forget it” approach, are they an effective way to get the diversification and growth you need for retirement? In this episode, Liz breaks down the findings of a recent study titled The Unintended Consequences of Investing for the Long Run: Evidence from Target Date Funds. She’ll guide us through the history of target date funds, explore whether they underperform or outperform, and weigh the pros and cons of using them. If you have any questions or need personalized advice, feel free to reach out to Liz at Best Path Advisors! Here’s some of what we discuss in today’s show: What is a target date fund and why do we have so many? What does research show about target date funds? Some pros and cons of target date funds How do target date funds fit into retirement strategies? The Unintended Consequences of Investing for the Long Run: Evidence from Target Date Funds https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3729750 ] Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Have you ever wondered what it means to "rebalance" your investment portfolio and why it's important? If so, today's episode is just for you. Liz will explain the ins and outs of rebalancing, including when to do it and how often. Tune in as Liz and Marc discuss why rebalancing is essential for managing portfolio volatility and staying on track with your financial goals. They'll cover everything from how frequently to rebalance to the tax implications and specific considerations for retirees. Plus, they’ll share a cautionary tale about the consequences of neglecting rebalancing. Here’s some of what we discuss in today’s show: What is rebalancing your portfolio and why is it important? How often should you rebalance your portfolio? Is rebalancing different when you’re younger compared to when you’re older and closer to retirement? What are the tax implications of rebalancing, and how can they be managed? What are some common mistakes people make when it comes to rebalancing their portfolios? Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Have you heard of the “safe withdrawal rate?” This is a rule of thumb that helps retirees know how much they can safely take from their retirement portfolio. One of the most famous safe withdrawal rates is known as the 4% rule. In today’s episode, we’re going to talk about where this rule came from and whether it’s still relevant in today’s environment. During this conversation, we’ll bring in perspectives from well-known financial figures such as Suze Orman, Dave Ramsey, and David Blanchett. Stay tuned as Liz shares her thoughts on their contrasting views about safe withdrawal rates. At the end of the conversation, she’ll share how you can use a safe withdrawal rate based on your situation. Here’s some of what we discuss in today’s show: The history of the 4% rule + Bill Bengen’s updated rule in 2021 Suze Orman’s thoughts on the 4% rule + accounting for longevity Dave Ramsey’s take + Morningstar’s research in response to his claims David Blanchett’s flexible approach to determining withdrawal rates How you can find a safe withdrawal rate for yourself Episode Resources Morningstar Article: https://www.morningstar.com/retirement/an-8-retirement-withdrawal-rate Dave Blanchett’s Flexible Withdrawal Rates: https://www.pgim.com/dc-solutions/article/guided-spending-rates-rethinking-safe-initial-withdrawal-rates Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
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Retire On Your Best Path with Liz Whitteberry
With Mother’s Day right around the corner, it’s the perfect time to reflect on the progress women have achieved in the financial realm over the past century. Despite this, the path to retirement is not without its unique challenges for women, and it’s important to recognize the financial hurdles they continue to face. In this episode, we’ll share some eye-opening statistics and actionable advice to empower women in their financial journey. From the persistent gender pay gap to the impact of caregiving responsibilities and higher debt burdens, this is why retirement planning is different for women. Liz's insights are a reminder that it's never too late to engage actively in your financial planning and that having a plan in place is key to navigating the future with confidence. Here’s some of what we discuss in today’s show: How the gender pay gap continues to impact women today Women generally take the caregiving lead and carry higher debt Women often have less income and assets in retirement Women need to fund a longer retirement The lack of financial confidence that many women feel The importance of financial education and planning Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Ever wondered how much you need to retire comfortably in America? According to a recent survey by Northwestern Mutual, the average American believes it's nearly $1.5 million. But where did this figure come from, and is it a reliable benchmark? Join us in today’s episode as we unpack the survey’s findings and share insights into how different generations view retirement savings. We’ll discuss how age, income, and lifestyle shape individual retirement goals and share how you can determine your “magic retirement number.” Stay tuned for some valuable tips to ensure you retire securely and on time! Here’s some of what we discuss in today’s show: Where did the $1.5M average come from? The magic number to retire has increased 53% since 2020 The factors potentially driving up retirement savings goals, like inflation and pension changes How tax planning can significantly impact retirement savings and income The importance of determining the magic number for your situation Resources for this episode: Northwestern Mutual Survey https://news.northwesternmutual.com/2024-04-02-Americans-Believe-They-Will-Need-1-46-Million-to-Retire-Comfortably-According-to-Northwestern-Mutual-2024-Planning-Progress-Study Average Savings by Age https://www.northwesternmutual.com/life-and-money/what-is-the-average-retirement-savings-by-age/ Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
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Retire On Your Best Path with Liz Whitteberry
In this episode, we’re covering an important aspect of financial planning: preparing your heirs to inherit your wealth. Even if your children have developed solid financial habits, they might not be fully prepared for their role in your legacy plan. Tune in as Liz shares some insightful tips for navigating tricky conversations about money and legacy. Let’s face it – discussing your legacy can feel daunting. But starting to have these conversations sooner rather than later can equip your children to become responsible stewards of their future wealth. Let’s learn how estate planning, open communication, and working with a trusted advisor can make all the difference along the way. Here’s some of what we discuss in today’s show: Reviewing your estate plan and preparing your children for what to expect How inheritance might impact different personalities + working with an advisor when making decisions Setting realistic expectations for your children when it comes to inheritance Clarifying your intentions before passing on wealth + communicating your values Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Inflation is a topic that affects everyone but can be a bit confusing to understand, especially when it comes to retirement planning. If you’ve found yourself wondering where inflation numbers come from and how they might impact your situation, today’s episode is for you! Stay tuned as we cover the basics of inflation and help you understand its impact on retirement planning. Listen in as Liz and Marc unpack the Consumer Price Index (CPI), Personal Consumption Expenditures (PCE) Index, and other inflation metrics, and share how these indices may not always reflect the reality of rising prices felt by consumers. They’ll also talk about the importance of adjusting spending, investments, and income sources to navigate inflationary pressures effectively. Don't miss out on this enlightening conversation filled with valuable insights to help you confidently navigate the complex world of inflation and safeguard your retirement savings. Here’s some of what we discuss in today’s show: The definition of inflation + its measurement through the Consumer Price Index (CPI) What is not captured by CPI? Various measures of inflation, including the CPI Retroactive Series, Chained CPI, CPI-W, and the R-CPI-E What is the Personal Consumption Expenditures (PCE) Index and how does it differ from the CPI? How representative of real inflation are these indexes? How inflation impacts your financial plan + making adjustments along your financial journey to stay on track Truflation website https://truflation.com/ Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
Is 'Lazy Money' still a concern in 2024's higher interest rate landscape? In this episode, we explore this question, examining how the recent rise in interest rates affects the money sitting in savings accounts, CDs, and conservative investments. Stay tuned as we cover where these options fit in a savvy investment strategy. You’ll gain valuable insights into making your money work smarter, ensuring that your retirement portfolio not only meets your needs today but continues to do so in the ever-changing financial landscape of the future. Here’s some of what we discuss in today’s show: What do we mean when we say, “lazy money?” The dangers of having too much "lazy money" in investments Investing during periods of high inflation + considering real-life expenses when creating a retirement plan Various reasons why people end up with too much lazy money in their portfolio Having a comprehensive retirement plan that makes sure your money is working effectively towards your goals Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
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Retire On Your Best Path with Liz Whitteberry
Would you benefit from a backdoor Roth strategy? Join us as we explore the ins and outs of this question, tackling what it is, how it works, and, most importantly, whether it might be the right move for you. We’ll discuss the pros and cons, identify the ideal candidates, and talk about why it’s gaining traction in today’s financial landscape. We’ll kick off the episode by addressing the basics of the backdoor Roth and dispel some common misconceptions about it. Then, we’ll discuss the potential tax savings and growth that it can offer and share how to keep from making mistakes that could cost you dearly. If you're curious about how this strategy might fit into your financial picture, don't hesitate to reach out to qualified professionals like Liz for personalized insights. Here’s some of what we discuss in today’s show: What is a backdoor Roth strategy and how can it benefit high-income earners? Is the backdoor Roth strategy worth it? The financial situations where this strategy shines + why it’s so important to understand the rules Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
When it comes to retirement planning, many people think about what year they’d like to retire. But choosing the optimal month to retire is just as important. In this week’s episode, we’ll discuss some important things to think about when it comes to finding the ideal timing for you. From financial factors like bonuses and stock options to strategic retirement income planning, tax implications, and emotional aspects, there’s more to consider than you might think. Don't miss this episode for important insights on aligning your retirement with your personal and financial milestones. Tune in to learn more, so you can retire on your best path! Here’s some of what we discuss in today’s show: Some financial reasons to consider the timing of your retirement, including bonuses, stock options, vacation days, and the impact of healthcare costs Retirement income considerations, such as Social Security, earning service credits, and pension benefits Tax considerations + strategic timing when choosing a retirement date Emotional factors in retirement planning, like personal milestones, family considerations, and fulfilling your retirement dreams Having a well-planned and strategic approach to retirement that allows you to retire confidently Subscribe to Liz's YouTube Channel: Best Path Advisors - YouTube…
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