Stay Wealthy San Diego

Today I’m sharing 4 (important!) retirement and tax planning updates for 2024. I'm also sharing my freshly updated two-page tax cheatsheet

Year-end is a popular time for tax planning strategies. Roth conversions. Charitable gifts. Squeezing in those final tax-deductible contributions. And, of course, the crowd favorite...good ol’ tax-loss harvesting! ‣ Who should consider tax-loss harvesting (and who should stay away from it)? ‣ How can you increase the benefit of tax-loss harvesting? ‣ When can harvesting losses backfire? If you're a retirement saver wanting to learn more about this popular tax strategy, you'll love today's episode.  *** ✏️  Grab the Episode Show Notes

Navigating the Medicare world is confusing and challenging.  As a result, many retirees make Medicare decisions without clearly understanding the long-term implications. Long-term implications that, in worst-case scenarios, can put a retirement plan in jeopardy. To help you avoid making costly Medicare mistakes, I'm sharing three (3) big pitfalls to avoid in this episode. If you want to brush up on your Medicare knowledge before turning 65—or you're looking to change your current Medicare plan—you'll love today’s episode. *** NAVIGATING IRMAA (2024 UPDATED) Click here to view the 2024 IRMAA brackets and learn how to avoid this surcharge.  *** WANT MORE RETIREMENT PLANNING TIPS? Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

In part two of my series on bonds, I'm tackling three BIG questions: 1.) With cash yielding 5%, does it make sense to use money market funds (or t-bill) as a bond alternative? 2.) What should investors do if they own the wrong bonds and need to make changes? 3.) Does the current landscape shift how retirement investors should approach bonds going forward? If you're ready to dive deep into the research to understand this asset class better, you'll love this episode. ----- WANT MORE RETIREMENT PLANNING TIPS? Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Bonds are down 20%+ over the past three years.  Meanwhile, riskier asset classes (like U.S. stocks) are UP ~30% during the same period. ‣ What the %@#! is happening to bonds right now? ‣ Why are safe asset classes down double digits while risky asset classes scream upward? ‣ Should retirement investors consider changes? ‣ Are money market funds and CDs a better solution than bond funds?  ‣ And what might all of this mean for the future of bond investing? I'm answering these questions (and more!) in this 2-part series on bonds. --- WANT MORE RETIREMENT PLANNING TIPS? Join 5,000+ listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Today I'm sharing nine fun facts about the economy, markets, and retirement.  Along with being entertaining, these facts bring important planning topics to the surface. They also help to address and answer common questions. For example: ‣ How correlated is the economy to the stock market? ‣ What are the actual odds of a catastrophic long-term care event? ‣ Should average life expectancy assumptions be used in retirement projections? If you're ready to have some fun learning about the history of the markets and little-known facts about investing, this episode is for you. --- WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Everyone should freeze their credit. But most retirement savers I talk to have not tackled this simple (and free!) task. After commenting briefly about credit freezes in an episode last month, I've received dozens of GREAT questions from listeners. Questions like... ‣ Should minor children freeze their credit even if they don't have a credit score? ‣ After freezing with the "big three" (Equifax, Transunion, Experian), what other agencies should I freeze my credit with? ‣ How will freezing my credit affect my credit score? ...and more! Tune in to get answers to these questions and learn more about this critical financial planning task that continues to be overlooked. --- WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Last June, inflation hit a 40-year high of 9.1%. Since then, it’s been falling month over month, hitting 3.2% in July of this year. The Fed’s aggressive rate hikes seemed to be doing their job, and their 2% inflation target appeared to be in sight. But then, the August CPI report came out a few weeks ago... ...and we saw inflation spike, jumping up to 3.7%. What happened? Where does inflation go from here? And should we be worried about this recent uptick? --- WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Year after year, investors underperform the funds they invest in by almost 2%.

Consumers reported losing nearly $9 billion to fraud in 2022 — a 30% increase from the year prior. And those are just the incidents that are reported. In fact, some reports suggest that the ACTUAL amount is closer to $40 billion! One thing every report seems to agree on is that scams are becoming more prevalent and more sophisticated. So to help protect retirement investors from becoming victims, today I'm sharing the three financial scams to watch out for. I'm also sharing how you can protect yourself (and your loved ones) from each scam. --- WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

In this episode, we're answering listener questions! Specifically, guest host Jeremy Schneider is answering questions like: What are the best index funds to invest in How do you access retirement money early What are the little-known pitfalls of early retirement Jeremy also shares important tips on transferring money from old investment accounts.  If you want to get answers to these great questions (and hear from a surprise guest who snuck their way in!), this episode is for you.  --- WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Almost every day, I (guest host Jeremy Schneider) hear someone mention their credit score. After being in school our entire young lives, we must all crave for someone to give us another grade. And when the ol’ FICO corporation is slapping a big number on all of us... ...we excitedly spend every waking moment trying to improve (or maintain) it. But here’s the problem: Focusing on your credit score is a TERRIBLE way to win with money. You’re putting your energy towards precisely the wrong thing. In today's episode, I'm sharing why you shouldn't care about your credit score + what you should be focusing on instead! WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners around the country and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Today we're talking about the Backdoor Roth IRA. Specifically, guest host Jeremy Schneider is sharing: What the Backdoor Roth IRA strategy is Why you should (or shouldn't) pursue it How to execute it the right way If you're interested in learning more about this unique strategy for getting more money into a Roth IRA, this episode is for you. *** WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

If YOU were to unexpectedly die tomorrow, would your loved ones know how to access your information?  Your bank accounts? Insurance policies? Debts? Access to your home and car? Your devices? Approximately 2/3 of Americans don't have any estate planning documents! To help you avoid leaving a financial mess behind, guest host Jeremy Schneider is sharing how he's PERSONALLY prepared his family for an untimely death. Specifically, he's sharing: ➡ What information and documents he has gathered  ➡ Where and how he (securely) stores it ➡ His process for keeping everything updated If you need actionable ideas (and motivation!) to tackle this critical planning task, today's episode is for you. WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Today I'm discussing a new retirement withdrawal strategy.  The strategy is simple + allows retirees to (safely) spend more money than the 4% rule. It also protects against one of the biggest threats to retirement—Sequence Risk! If you want to avoid leaving behind a mattress full of money and learn about a simpler approach to boosting retirement income, you'll enjoy today's episode. WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

What separates a good investment from a bad one? How do you evaluate different investment options? Why are some very well-known metrics flawed and problematic? I'm answering these questions + sharing a personal story that caused me to change my approach when giving opinions about different asset classes.  WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Last year, I published an episode titled, 5 Reasons Not to Do a Roth Conversion.  The 5 reasons shared were: 1️⃣ - Shadow taxes  2️⃣ - No undo button  3️⃣ - Lack of cash flow to pay the tax bill  4️⃣ - You just don’t want to :)  5️⃣ - Future charitable giving goals Today I'm sharing three (more) reasons not to convert + why it might be ok to leave money in your pre-tax IRA. Roth conversions can be a wildly beneficial tax planning move for the right person... ...but they aren't a "no-brainer" for everyone.  If you want to learn more about situations when converting money to a Roth IRA does NOT make sense, today's episode is for you.  WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

"Cash is king." But is it a great investment?  Historically, investors have built up dry powder to fund emergencies or survive market downturns. But with cash now yielding close to 5%... ...many investors are viewing cash as a way to make money. Today I'm sharing why cash — even at today's rates — is a bad investment. I'm also sharing how much cash a retirement investor should consider holding. WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

For the last 53 years, U.S. stocks have significantly outperformed international stocks. (It's not even close.) As a result, many retirement investors are left wondering if they should own this asset class. Today I'm sharing why owning international stocks over the last 5 decades -- despite the disappointing track record -- was actually a smart decision. I’m also sharing why owning international stocks for the next 50 years and beyond is likely a wise decision, too.  WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.

Today I'm joined by Phil Huber, Chief Investment Officer at Savant Wealth Management. Phil joins me to take the other side of the alternative investment debate and shares three big insights: 1.) What exactly defines an "alternative investment" 2.) Why traditional stock/bond portfolios will be challenged in the years ahead 3.) How alternatives can help to reduce risk and improve investment returns He also addresses common misconceptions about this complex asset class.   If you're looking to expand your investment knowledge and learn how alternatives might enhance your retirement portfolio, this episode is for you. WANT MORE RETIREMENT PLANNING TIPS? Join thousands of listeners and subscribe to the Stay Wealthy Retirement Newsletter. As a thank you, you'll receive a copy of my 2023 Tax Planning Cheatsheet.