Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®
Planning Retirement Smarter. Living Retirement Better. With Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP® of True Wealth Design. #Retire #Stocks #Investing #401k #IRA #CFP #TrueWealthDesign. Contact at https://www.truewealthdesign.com/ or by calling 855-893-7526.
Episodes
Thursday Feb 09, 2023
Nearing Retirement But Facing Potential Layoff?
Thursday Feb 09, 2023
Thursday Feb 09, 2023
Unemployment numbers are near historic lows, but for some white-collar professionals, that does not tell the whole story. Many are rightfully concerned their job is at risk, potentially harming a retirement plan that would otherwise be on track.
Listen as Tyler Emrick, CFA®, CFP®, talks through what industries are getting hit the hardest and what you can do now to help protect your retirement in the face of job insecurity.
Here's some of what you'll learn in this episode:
What we're seeing in the workforce right now. (0:52)
Studies show that people often don't work as long as they had planned. (4:17)
What are some of the signs that financial trouble might be coming for your employer? (6:17)
What is offered in an early retirement package? (10:11)
What should you consider if you get caught up in a round of layoffs? (15:11)
Check out our podcast on Pension Lump Sums: https://www.truewealthdesign.com/ep-106-pension-lump-sums-you-may-need-to-act-now-in-2022/
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
Thursday Jan 26, 2023
What are Retirees Doing After Poor Market Returns in 2022
Thursday Jan 26, 2023
Thursday Jan 26, 2023
2022 was a tough year for stock and bond market returns. How are retirees adapting to the falling market? What decisions are they making now to set themselves up for success in the future?
Listen as Tyler Emrick, CFP, CFA, shares his clients' stories to uncover their questions and how they plan to navigate the challenges posed by the current market and economic landscape.
Here's some of what you'll learn in this episode:
Some of the numbers that show just how bad 2022 was for investors. (2:54)
A lot of families are using the flexibility built into their retirement plan. (5:47)
Considering taking advantage of a Roth conversion. (10:28)
We've started taking a closer look at retirees' spending to see how it's changed. (13:16)
What we're looking at inside a client's portfolio. (20:24)
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
Thursday Jan 12, 2023
Secure Act 2.0 - Key Impacts on Your Retirement Planning
Thursday Jan 12, 2023
Thursday Jan 12, 2023
The much anticipated Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 recently passed Congress as part of the Consolidated Appropriations Act of 2023. While no single change made in this act will have the same level of effect on your retirement planning as some changes made in the original SECURE Act, passed in December 2019, there are far more provisions in this act that may impact your planning.
Hear Tyler Emrick, CFP, CFA discuss some of the more impactful changes and how they will affect your planning and retirement.
Here's some of what you'll learn in this episode:
What is the SECURE Act and why another update? (1:23)
Big changes to RMDs including age being pushed back again. (3:22)
The Roth changes that you can start planning for. (8:29)
Catch-up contributions for high-income earners will be required to be Roth. (11:11)
A 529 to Roth transfer will be allowed after 15 years. How can you qualify for that? (13:47)
Additional contribution increases coming in 2024 and 2025. (17:10)
A few other changes that we think you should know about. (20:18)
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
Wednesday Dec 21, 2022
Social Security - Planning Strategies, COLA, and Update
Wednesday Dec 21, 2022
Wednesday Dec 21, 2022
Whether you are trying to understand better how Social Security works or looking to optimize your filing strategy, this episode is for you.
Hear Tyler discuss some of the less talked about factors impacting your Social Security claiming strategy. Listen as he talks through his clients' most common questions and concerns. All to help you better understand and maximize your benefits.
Here's some of what you'll learn on this episode:
How Social Security as part of income planning has changed through the years. (3:13)
How we help clients identify Social Security opportunities they have. (7:29)
The Cost Of Living Adjustment (COLA) coming in 2023. (16:05)
How we help clients determine their claiming strategy. (20:34)
Where does Social Security fit into the overall retirement planning process. (30:14)
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
http://bit.ly/calltruewealth
Thursday Dec 08, 2022
Ep 113: Enhancing Your Charitable Giving
Thursday Dec 08, 2022
Thursday Dec 08, 2022
Most Americans donate to charity yearly, and many have distinct goals in their retirement plan to meet annual charitable donations. Most also give cash … the tax-efficient way to give.
Hear Kevin and Tyler discuss ways to tax-optimize your charitable giving. Whether through bunching your deductions or using donations of appreciated stock, each coupled with a donor-advised fund can help you gain a bigger tax break and meet your charitable goals in the Retire Smarter way.
Here's some of what you'll learn in this episode:
Why we want to be more thoughtful of the why behind charitable giving. (4:20)
Details on the current standard tax deduction amounts. (11:25)
How you can utilize the bunching strategy to maximize deductions. (14:17)
An example of how clients typically approach giving. (17:11)
Assets you might consider giving instead of cash. (20:35)
Have questions?
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s CFP® Professionals.
http://bit.ly/calltruewealth
Tuesday Nov 22, 2022
Overcoming Financial Missteps & Inaction to Get the Help You Need
Tuesday Nov 22, 2022
Tuesday Nov 22, 2022
It's usually a life event -- retirement, Social Security age, business sale, death or inheritance -- that tends to drive people to seek financial advice. Those that tend to benefit the most from advice are those whose time is valuable and where the cost of a mistake is high (and potentially irrevocable.)
Hear Kevin and Tyler talk about recent meetings they've had with people seeking help. Learn why the problem that brought them in often isn't the real problem. Rather, it's the "unknown unknowns" or the "things they think they know but just ain't so" that are more so the problem to avoid or opportunity to capitalize upon. This is an episode that many listeners will be able to relate to and cause 'aha moments.'
Here's some of what you'll learn on this episode:
Some background on a recent growth award we were recently honored with. (1:15)
An example of how we help families identify and address their estate planning needs. (6:54)
Is a Roth Conversion right for you? (14:47)
The ways we typically provide the most help to people. (19:35)
Analogies for why it's important to have the right information. (24:03)
HAVE QUESTIONS? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s credentialed and experienced professionals or visit http://bit.ly/calltruewealth.
Or listen to episode 45 to learn about True Wealth’s Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.
Thursday Nov 10, 2022
Q4 Check-up & Tax Moves
Thursday Nov 10, 2022
Thursday Nov 10, 2022
It's that time of year again ... the fourth quarter. Before you get enthralled with the holiday season, it's time to look back over this year and towards the next. Does your lifestyle spending match the goals you have in your plan or do your goals need to be modified to reflect reality?
Are your investments well aligned to meet your spending goals or are you exposing yourself to unnecessary lifestyle risk?
What tax moves should you make before the end of the year? And what moves should you plan for next year?
Listen to Kevin and Tyler describe the process True Wealth goes through to make sure how these important details are handled to help you stay on your retirement track and pay no more than your fair share in tax.
Here's some of what you'll learn on this episode:
Some background on the three core items we need to be checking as the year comes to a close. (2:19)
The changes from the past year and the recent laws that impact what we're doing this year. (6:30)
The income targeting we do and some examples of that. (11:33)
How inflation and the cost of living adjustments factor into end-year planning. (13:50)
Why you have to a proactive approach to your financial plan. (18:23)
HAVE QUESTIONS? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s credentialed and experienced professionals or visit http://bit.ly/calltruewealth.
Or listen to episode 45 to learn about True Wealth’s Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.
Thursday Oct 27, 2022
Smartly Using Retirement Accounts to Optimize Your Retirement & Tax Savings
Thursday Oct 27, 2022
Thursday Oct 27, 2022
Are you looking for ways to accelerate your savings right before retirement? How do you determine whether to save Roth or Pretax? What type of retirement account should you be using? In short, how can you use the myriad tax-advantaged accounts to optimize your retirement savings and tax advantages?
All these questions and more are answered as Tyler walks you through how IRA, Roth, and 401K plans work and how you can best use them to maximize your retirement savings. Hear him tell a client story to illustrate some of the lesser-known retirement account options available. Small business owners and self-employed individuals will want to pay special attention as this self-employed business owner saved over $200K in pretax savings this year, getting thousands in tax deductions and accelerating their savings as they approach retirement.
Here's some of what you'll learn on this episode:
High-level view of how Tyler looks at the structure of retirement plans. (4:43)
The bucket that most people utilize in their retirement plan. (7:25)
Where are the most under-utilized retirement plans. (12:16)
A story about a client who was looking for tax strategies to maximize benefits. (15:01)
How can individuals benefit? (23:52)
HAVE QUESTIONS? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s credentialed and experienced professionals or visit http://bit.ly/calltruewealth.
Or listen to episode 45 to learn about True Wealth’s Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.
Thursday Oct 13, 2022
Surprising Lessons on Stock Returns and Diversification
Thursday Oct 13, 2022
Thursday Oct 13, 2022
History shows that owning companies (buying stocks) provides far superior returns vs. lending to companies (buying bonds). While most know this, most would be surprised by how many stocks lose money over time. A JP Morgan report showed this number to be 40% over a broad period from 1980-2020. And 66% of stocks failed to keep up with a broad benchmark.
Hear Kevin dive into these details, portfolio implications, and touch on key characteristics of risk -- not just how much your investments move up and down (volatility) but making sure you have the dollars you need when you need them (terminal wealth dispersion). You'll be surprised by what you learn and likely question whether you are truly diversified.
After all, luck or any low-probability investment strategy -- pursued consciously or not -- is not rational for your retirement dollars.
Here's some of what you'll learn on this episode:
The investment part of retirement isn't solely about the traditional motivations. (5:32)
The good part of having unique risks in your portfolio. (10:12)
What studies have shown us about market returns. (19:41)
A look at how the professionals do with picking stocks. (24:19)
HAVE QUESTIONS? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s credentialed and experienced professionals or visit http://bit.ly/calltruewealth.
Or listen to episode 45 to learn about True Wealth’s Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.
Thursday Sep 22, 2022
It’s the End of the World as We Know It, and Why to Feel Fine
Thursday Sep 22, 2022
Thursday Sep 22, 2022
"It's the End of the World as We Know It (And I Feel Fine)" is a 1987 song by American rock band R.E.M.. The title may sound pessimistic or perhaps a bit delusional. Yet, hear Kevin make the analogy as to why this song -- one of his favorites -- is a perfect theme song for capitalism, creative destruction, and rational optimism about innovation and future stock returns.
Here's a little of what you'll learn on this episode:
Why bad news in the headlines is nothing new. (1:39)
What a consumer sentiment survey tells us. (4:12)
Why it might actually be a good time to invest when you feel very pessimistic. (10:08)
A book that still sticks with Kevin a decade later and the lessons learned. (13:44)
What is creative destruction and how does it apply here? (17:23)
HAVE QUESTIONS? Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s credentialed and experienced professionals or visit http://bit.ly/calltruewealth.
Or listen to episode 45 to learn about True Wealth’s Retire Smarter Solution™ that aligns your money to your goals, overlaid with tax-smart strategies, so you can retire with confidence.