The Retirement Risk Show: Recent Episodes

Dave Hall

I want to help you eliminate the financial risk facing your retirement. No one is exempt. Many well-planned retirements can be ruined due to some risks. This podcast is your tool for the right education to get you not only to retirement, but help you get through retirement. 68% of retirees say their biggest fear is running out of money during the longest self-imposed unemployment time of their life. Let's help you eliminate as much risk as possible.

Welcome to another episode of The Retirement Risk Show! Hosted by Dave Hall, he brings back Alisha Wright to finish this duology that delves into essential strategies for securing a comfortable and risk-free retirement. In today's episode, Dave and Alisha turn their attention to the often-overlooked issue of cognitive decline and its impact on retirement planning.

Listeners will learn about the risks of cognitive decline, including repetitive charitable donations and financial exploitation by family members. They emphasize the importance of early planning to manage finances and healthcare in the later stages of life. Alisha Wright offers valuable insights on avoiding scams and discusses how social isolation can worsen health conditions.

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Dave Hall and Alisha Wright delve into the pressing issue of elder care planning in retirement. It is a critical area that needs strategic financial planning to prevent running out of retirement funds.

They emphasize maximizing Social Security benefits and considering annuities for a stable income. The discussion also highlights elder financial abuse and the importance of protective measures against exploitation.

Dave and Alisha provide essential insights on elder care planning, covering healthcare considerations, home adjustments for aging, and the necessity of healthcare directives. This episode offers valuable strategies to manage financial, health, legal, and personal risks as you age.

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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.

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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.

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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.

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In this week's episode, Dave delves into the critical role of trusts in estate planning. Trusts help control asset transfers, limit taxes, and prevent family disputes. They are essential for prenuptial planning, protecting assets for biological children in second marriages, and planning for incapacity with financial power of attorney.

Dave illustrates the benefits of trusts through personal anecdotes, highlighting the importance of manageable trust structures. The episode also covers the advantages of life insurance trusts, umbrella insurance policies, and the risks of reckless asset transfers.

For those interested in charitable giving, Dave explores options like charitable remainder trusts and donor-advised funds, showcasing their tax benefits. Properly funding trusts to avoid probate, managing assets across states, and protecting special needs children are also discussed.

Dave emphasizes the importance of working with advisors for comprehensive planning. He highlights how Retirement Risk Advisors can support retirees with education, webinars, and resources available online. Tune in to discover strategies for a well-planned and protected retirement.

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Dave Hall explains the intricacies of setting up beneficiaries for your retirement accounts, including the importance of careful planning to avoid tax problems and family disputes.

Dave highlights real-life examples where poor planning led to unnecessary legal fees and strained family relationships, emphasizing the need for regularly updated beneficiary forms. He offers insights into the specific rules and benefits for various types of beneficiaries under the Secure Act, such as the advantages spouses have compared to other inheritors and the ten-year window rule for non-eligible beneficiaries like children and grandchildren.

You'll also hear about the potential scams to watch out for, the relevance of trusts, and strategies for Roth conversions to minimize future tax burdens. Whether you are a retirement account holder planning your estate or a beneficiary navigating an inherited IRA, this episode is packed with essential advice to secure your financial future.

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In this episode, Dave is talking all things reverse mortgages with Steve Resch, the VP of Retirement Strategies over at Finance of America Reverse. Forget what you thought you knew—Steve's here to clear up the myths and show how reverse mortgages can actually be a game-changer for your retirement plan. We’ll dive into everything from lending limits and loan options to how these mortgages can help you manage those unexpected expenses and even long-term care costs. Plus, we’ll discuss why open communication with your family about these plans is key.

Key Themes:
1. Reverse Mortgages Lending Limits
2. Financial Independence for Seniors
3. Reverse Mortgage Misconceptions
4. Financial Planning and Communication
5. Managing Sequence of Returns Risk
6. Home Equity in Retirement
7. Reverse Mortgage Line of Credit

Episode Takeaways:
Reverse Mortgages as a Retirement Tool:
Reverse mortgages are increasingly being recognized as a viable financial planning tool to provide income tax-free proceeds for retirees. They can help manage sequencing risk, handle unexpected expenses, and enhance overall financial well-being during retirement. Continuous monitoring and proper planning are essential for optimizing the benefits of a reverse mortgage.

Misconceptions and Safety Features:
Many negative connotations surrounding reverse mortgages stem from past issues, but there have been significant changes to improve qualifications and incorporate safety measures. These updates aim to protect seniors and their families, and ongoing research by educators and academics is helping to offset previous misconceptions about the program.
Importance of Family Communication:
Clear and open communication with family members about financial plans, including reverse mortgages, is crucial. Involving children and other family members in discussions can prevent unmet expectations and ensure everyone has a clear understanding of how financial decisions, such as the use of a reverse mortgage, impact the legacy and overall financial picture of retirees.

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n this serious and informative installment, Dave Hall and Retirement Risk Advisor Brian Britt delve into the intricate world of retirement planning, focusing on the comparative safety and potential returns of insurance policies versus the stock market. Brian Britt provides expert analysis on how cash value life insurance policies offer a unique guarantee from insurance companies, often proving safer than traditional banking methods.

The episode explores essential topics, including the rising costs of long-term care, the evolution of annuities and life insurance products over the past 25 years, and the critical role of permanent life insurance in modern financial planning. Dave and Brian explain the tax advantages these insurance products offer, highlighting their importance in crafting a robust retirement strategy by ensuring liquidity and flexibility.

Key Themes:
1. Safe Investments: Comparing insurance to stock market
2. Guaranteed Returns: Insurance policies with solid guarantees
3. Tax Perks: Enjoy those tax-free benefits
4. Long-term Care Prep: Costs and how to get ready
5. Insurance Evolution: New and improved insurance options
6. Financial Flexibility: Tons of planning and cash access
7. Retirement Hacks: Cutting down risks for a smoother ride

Episode Takeaways:
1. Safety and Returns: Life insurance policies offer 100% guaranteed cash value by the insurance company, providing more safety than banks, and have historically returned over 6%.

Tax Benefits and Flexibility: Permanent life insurance policies offer tax-free growth and distribution, along with flexibility for financial planning, such as tax-free loans from the policy.
Long-Term Care: Insurance can cover long-term care costs by accessing the death benefit, with remaining funds passed to beneficiaries tax-free, reducing the financial burden on family members.

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In this episode, Dave explores the importance of outlining significant future expenditures and mapping out financial needs for the next 10 to 20 years. The discussion highlights the necessity of diversifying income sources, including Social Security, pensions, rentals, and investments, to mitigate financial risks.

Tax planning is a key topic, with insights on minimizing future tax burdens through strategies like Roth conversions. The episode also covers the benefits of Health Savings Accounts (HSAs) for tax-free healthcare expenses during retirement and the process of selecting appropriate Medicare options.

Debt management is another critical focus. Dave emphasizes the importance of paying off liabilities to reduce cash flow needs in retirement. The episode explores the use of Monte Carlo simulations to assess the success probabilities of retirement plans and discusses strategies like annuities and bond ladders for securing steady income.

Informed retirement planning matters--and this is your starting place.Key Themes:
1. Retirement planning and large expenditures
2. Income sources and diversification risks
3. Importance of tax planning
4. Healthcare costs and insurance options
5. Utilizing Health Savings Accounts
6. Principal protected products pre-retirement
7. Monte Carlo simulations and outcomes

Episode Takeaways:
1. Diversify Income Sources: Ensure varied income streams in retirement, such as Social Security, pensions, and investments, to mitigate financial risks.

Develop a Tax Plan: Implement tax strategies like Roth conversions and maximize Health Savings Account (HSA) contributions to reduce future tax burdens.
Prepare for Healthcare Costs: Plan for healthcare expenses by considering Medicare options and utilizing HSAs for tax-free expenses, ensuring medical costs don’t impact your retirement.

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Today, we're tackling an especially important topic for anyone thinking about retirement: how much can you safely withdraw from your savings each year without the fear of running out? It's a hot debate and Dave is here to guide us through the conservative versus aggressive withdrawal strategies, their risks, and their benefits.

We're also diving into the stir caused by Dave Ramsey's recent comments advocating for an 8% withdrawal rate, which has sparked a lot of controversy in the financial community. Dave Hall will explain the different perspectives, including the nitty-gritty of Monte Carlo simulations and how they can help predict financial outcomes.

Key Themes:
1. Withdrawal rate risks in retirement.
2. History and usefulness of Monte Carlo simulations.
3. Impact of market volatility on retirement funds.
4. Dave Ramsey's views on withdrawal rates.
5. Evaluating practicality of different withdrawal strategies.
6. Importance of realistic financial planning.
7. Role of annuities and taxes in retirement.

Episode Takeaways:
1. Why Withdrawal Rates Matter- Dave breaks down why it's key to get your withdrawal rate just right to keep your finances steady through your retirement years. He talks about tweaking the usual 4% rule based on what's going on with the economy and your personal situation.

Tools to Help Plan Better- The episode shines a light on how handy tools like Monte Carlo simulations are in figuring out the best withdrawal rates. These tools can play out different what-if scenarios for your finances to help you plan more accurately.
Be Wary of Too-Good-to-Be-True Advice- Dave warns listeners about following super optimistic financial tips, like the 8% withdrawal rate suggested by Dave Ramsey. He stresses the importance of sticking to realistic, well-supported plans so you don’t risk running low on money prematurely.

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Dave says in this week's episode: "And for some [elders and retirees], it's a time of great loneliness. You've gotten to a point where maybe your whole working career, you were in an office or an environment where you were around people all the time, and now you're home, and all of a sudden those people aren't there every day."

Join Dave as he breaks down an eye-opening article from the AARP bulletin for April 2024—Fraud 2024. Scammers are more cunning than ever; leveraging advanced technology and artificial intelligence, they are targeting our seniors in new and sophisticated ways. He explores the six main scams that are currently circulating, from "check cooking" to "voice printing," and give you strategies to combat these fraudulent schemes.

Protecting your hard-earned savings is paramount, and information is your best defense. Tune in to learn how to recognize these scams, avoid the manipulative traps set by scammers, and stay connected with the right people. Your retirement should be a time of enjoyment and freedom, not stress and uncertainty.

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This episode of the Retirement Risk Show dives into the looming concern of long-term care and rising medical costs. Dave Hall, alongside Brian Britt, addresses a significant retirement challenge—managing the costs of long-term care. Amidst a declining long-term care insurance market, they discuss innovative insurance solutions and the advantageous chronic illness riders now available. Their conversation provides clarity on navigating financial risks that could cost you your retirement.

Episode Insights:
Long Term Care Concerns - People have misconceptions about long term care, thinking they can't afford it or won't qualify. The show highlights the need for accurate information and planning alternatives beyond traditional long-term care insurance, which is becoming increasingly difficult to obtain.

Insurance Industry Evolution - The traditional market for long term care insurance has shrunk significantly, leading to the creation of hybrid policies that combine life insurance with a chronic illness rider. These policies offer benefits that can be used tax-free for long term care without the risk of losing all the premiums paid if the benefit isn't used, a common pitfall of traditional long term care insurance.

Financial Planning and Choice - Financial planning is essential for avoiding becoming a burden on family members and having control over retirement destiny. The podcast stresses the importance of integrating long term care into a comprehensive financial plan. It emphasizes having options to protect against risks, such as market downturns and unforeseen long-term care needs, to ensure retirees have a secure and dignified retirement.

Key Takeaways:

Hybrid Insurance Solutions**: Traditional long-term care insurance is seeing a decline in providers. Fortunately, hybrid policies combining life insurance with chronic illness riders are now available, offering a versatile approach and relief from the "use or lose it" nature of traditional long-term care insurance.
Flexibility in Funding: These policies give you the freedom to use your death benefit for qualified long-term care expenses without the restrictions typically associated with standard long-term care insurance, enhancing your control and choice over your retirement funds.
Avoiding Dependency: Planning for long-term care is not just about preserving wealth but also about maintaining independence and dignity in retirement, avoiding the emotional and financial strain on families.

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In this episode, Dave brings to light the daunting reality of retirement — a period that could span decades, and highlights the essential resources available on retirementriskadvisors.com, designed to help you navigate retirement risks. As the episode unfolds, Dave and Alisha explore one of the top financial risks retirees face: Social Security. They discuss why the system seems shrouded in complexity, making it challenging for the average person to make well-informed decisions about their benefits.

Alisha, a junior advisor and expert in the field, shares insights on work credits — the essential currency for qualifying for Social Security. She clarifies common misconceptions about the number of credits needed and the flexibility with which you can earn them over your working years. The discussion also touches upon the sensitive topic of spousal and ex-spousal benefits, a feature rooted in traditional family values but subject to potential changes as the government faces future program refinancing.

Moreover, Dave uses his personal situation as a case study to illustrate the impact of continuing to work after claiming early benefits and how the earnings test may affect your Social Security payments. Yet, fear not — Alisha reassures that benefits reduced by the earnings test are not lost but merely deferred to a later time.

Key Themes:
1. Retirement risk strategies
2. Social Security misunderstanding
3. Importance of Social Security education
4. Work credits for Social Security
5. Non-consecutive credits accumulation
6. Credits and income thresholds
7. Survivor and disability considerations

Episode Takeaways:

Social Security is a complex topic with limited straightforward educational resources, leading to confusion about how to effectively navigate benefits. The podcast emphasizes the importance of seeking informed advice due to the lack of comprehensive guidance from government sources.
The episode highlights the work credit system of Social Security, detailing that 40 credits are needed to qualify for benefits, equivalent to ten years of non-consecutive work. It also explains the implications for individuals who may not work throughout the year but still earn enough to receive the maximum four credits per year.
There is a discussion on potential strategies to maximize Social Security benefits, including the implications of the earnings test for those who claim benefits before reaching their full retirement age and continue to earn an income. The 'do-over' policy, which permits the reversal of a claim decision within a year, is also explored as a means to rectify a suboptimal benefit claiming strategy.

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In this episode, we take a deep dive into the timeless investing wisdom of Warren Buffett, as presented by retirement risk expert, Dave Hall. Through an in-depth exploration of Buffett's top ten investing tips, we unravel the profound insights on risk management, investment temperament, and the value of sound decision-making. Join us as we dissect these crucial principles and examine their potential impact on your retirement planning and financial security.

Key Themes:
1. Retirement Planning: Strategies for financial security
2. Investment Tips: Advice from Warren Buffett
3. Market Timing: Knowing when to invest
4. Emotional Temptations: Balancing fear and greed
5. Passive vs. Active Investing: Making informed choices
6. Decision Making: Limited punches for investment decisions
7. Risk Management: Navigating risks in retirement

Episode Takeaways:
1. Warren Buffett's Investing Tips: The episode delves into Warren Buffett's top ten investing tips, offering valuable insights for becoming a better investor.

Retirement Risk Management: The episode emphasizes the importance of navigating retirement risks and provides strategies to reduce and eliminate risks, empowering listeners to make informed decisions about their retirement investments.
Advisor Guidance: It highlights the significance of seeking guidance from advisors for retirement planning, stressing the need to understand investment choices and work with professionals to navigate the complexities of retirement planning.

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In this episode, Dave Hall continues the conversation with Brian Britt about the various risks and challenges people face in retirement, particularly focusing on longevity and the crucial role of annuities in providing a secure and lasting income. Brian explains the evolution of annuities, highlighting their transformation from high-fee products to reliable, no-load financial planning tools. The discussion covers the different types of annuities, their benefits, and the strategies for leveraging them, including the opportunities for partial Roth conversions.

Noteworthy Themes:

Longevity risk in retirement
Evolution and benefits of annuities
Flexibility in annuity products
Annuities as a hedge against market volatility
Tax-efficient retirement income strategies
Annuitization options for lifetime income
Strategic Roth conversions with annuities

Key Takeaways:

Annuities have evolved into valuable financial planning tools, offering benefits such as no load, no-fee options and the flexibility to withdraw 10% annually without penalties.
They serve as a hedge against longevity risk and sequence of return risk in retirement, providing a guaranteed stream of income without the risk of losing money.
New annuity options, including living benefits and partial Roth conversions, provide more flexibility and control.
Annuities should be strategically positioned within different tax buckets to maximize tax benefits, with income from annuities ideally placed in the tax-free bucket to reduce tax liability and potential impact on Social Security taxes.

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In this episode, Dave Hall and Brian Britt delve into the critical topic of longevity risk in retirement. They dissect the financial implications of extended life expectancy and the inadequacies of relying solely on Social Security for retirement income. The conversation underscores the importance of seeking professional financial guidance and building a reliable support system for a success, lasting retirement.

Key Themes:

Longevity risk: Addressing longer-than-expected lifespans
Family longevity: Understanding genetic predisposition for lifespan
Retirement income: Ensuring a reliable source of income
Social Security: Its role as a supplemental retirement benefit

Episode Takeaways:

Plan for the Long Haul: It's crucial to carefully consider living beyond life expectancy when devising retirement plans, taking into account family history as a significant factor in longevity.
Social Security as Supplement: Social Security should be regarded as a supplementary income source rather than the primary source of funds for retirement, with additional savings and investments being necessary for financial stability.
Get help from a Retirement Risk Advisor: Having experts that specialize in retirement risk to guide you is important to ensure that your retirement funds last as long as you do.

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Dave Hall delves into the critical topic of tax rate risk in retirement. With over 30 years of tax expertise, he breaks down the various taxes retirees may face, from federal and state taxes to capital gains, net investment tax, and more. Dave emphasizes the importance of strategic tax planning, including Roth conversions, Social Security taxation, and the impact of charitable contributions on retirement income. His insights provide listeners with essential knowledge to navigate the complex landscape of taxes during retirement, ultimately helping them achieve financial security and peace of mind in their golden years.

Episode Themes:
1. Retirement Risk - Understanding the financial risks
2. Tax Rate Risk - Impact of future tax rates
3. Social Security Taxation - Potential tax implications
4. Rethinking Retirement Income - Optimizing cash flow
5. Medicare Premium Adjustments - Considerations for healthcare expenses
6. Charitable Contributions - Maximizing tax benefits
7. Standard Deductions - Leveraging deductions for tax efficiency

Key Takeaways:
1. Tax rate risk is a significant concern for retirement planning. Understanding the various taxes and potential future tax rate increases is essential.
2. Considerations such as capital gains tax, Social Security taxation, Medicare Irma adjustments, and others can significantly impact cash flow in retirement.
3. Proper tax planning can help maximize income, grow your legacy, and increase peace of mind in retirement. Utilizing tax-efficient strategies is crucial for minimizing tax liabilities and optimizing financial resources.

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Dave Hall dives into the evolving landscape of middle-class life and the potential challenges on the horizon. Referencing an article by Cindy Lamoth in Yahoo Finance, Dave examines 7 things that the middle class has historically enjoyed but may soon find unaffordable. From extended family trips to new cars, private school tuition, and health care costs, the episode sheds light on the financial strains that many families may face and how it can impact your retirement planning.

Dave emphasizes the importance of risk-based retirement planning and offers insight into how to navigate these potential challenges. Tune in for a thoughtful exploration of financial preparation and lifestyle considerations in the ever-changing world of retirement planning.

Key Takeaway 1: Middle-class Americans are facing increasing financial challenges, including the affordability of extended family trips, new cars, private school tuition, home ownership, healthcare costs, leisure and travel in retirement, and safe investments for retirees.

Key Takeaway 2: The rising costs in various areas such as housing, education, and healthcare are creating financial strain for middle-class families, making it difficult for them to continue enjoying the same lifestyle they have had in the past.

Key Takeaway 3: Proper financial planning and risk-based retirement planning are essential to addressing these challenges and ensuring that individuals can maintain their desired lifestyle in retirement. Seeking professional help to put together a comprehensive financial plan is recommended to navigate through the potential financial storms and keep their dreams within

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Dave states, "This program that we call Medicare is far too important to the overall economic health of our country and to making sure retirees are able to maintain steady lifestyles in retirement, that we do expect adjustments to be made."

So, what does that mean for your retirement and your Medicare enrollment and benefits?

In this episode Dave Hall shares valuable insights into the challenges facing the Medicare program's financial stability and explores potential solutions to address these issues. He breaks down some interesting proposals aimed at generating revenue and reducing costs to stabilize the program. It's a crucial topic with potential implications for all of us.

Key Themes:
1. Medicare Financial Stability - Funding challenges, trust fund depletion
2. Revenue Generating Proposals - Payroll taxes, investment income tax
3. Cost Reducing Measures - Medicare Advantage, site of care payments
4. Healthcare Price Regulation - Hospital charges, prescription drug competition
5. Tax Increase Expectations - Medicare and social security rates
6. Program Impact on Retirees - Importance, economic health
7. Importance of Cost Cutting - Effective management, future tax burden

Main Takeaways:
1. Medicare's Financial Challenges: The episode highlights the pressing financial issues facing Medicare, emphasizing the need to address its trust fund's projected depletion by 2028-2030.

Proposed Revenue Generation and Cost Reduction: It outlines strategies for revenue generation, including proposed tax increases and initiatives for reducing healthcare costs. These proposals signal potential future changes that could impact taxpayers and healthcare providers.
Future Tax Impact: The episode underscores the likelihood of tax increases to address Medicare's financial challenges and the broader issue of rising healthcare costs, prompting the need for individuals to stay informed about potential implications for their financial planning and retirement.

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Dave Hall and Brian Britt are back! In this episode, they tackle the ins and outs of the last of the Top Ten Financial Retirement Risks. They cover a wide range of topics, from long-term care challenges and the impact of inflation to the complexities of Medicare and the growing concern of elder abuse. Additionally, they emphasize the significance of income diversity, offering down-to-earth insights to help you safeguard your financial stability during retirement.

Key Takeaways:
1. Long-Term Care Risks: With longer life expectancies, the likelihood of needing long-term care increases, and the financial impact can be significant. It's important to consider how to address and potentially finance long-term care needs in retirement.

Inflation Risk: Inflation can impact retirement finances, and it's essential to consider this when planning for retirement income. Diversifying income sources and exploring instruments that offer lifetime guaranteed income rising with inflation can help mitigate the impact of inflation on retirement income.
Lack of Income Diversity Risk: Relying solely on one source of income or having multiple income sources tied to correlated investments can pose significant risks. Creating a diversified income strategy with sources that are not correlated can help provide stability and flexibility in retirement.

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In our latest installment of the Retirement Risk Show, Dave Hall brings back Brian Britt to delve into the critical topic of retirement planning. They tackle the pivotal shift from the old paradigm of retirement planning to the new, examining the top 10 financial risks individuals encounter during their retirement years. From longevity risk to Social Security risk, tax rate risk, sequence of return risk, and withdrawal rate risk, the conversation offers a serious exploration of the challenges retirees face.

Key Takeaways:
1. New Paradigm of Retirement Planning: Understanding the shift from the old paradigm of retirement planning, which relied heavily on pensions and Social Security, to the new paradigm, which emphasizes the need for comprehensive planning due to longer life expectancies and changes in the financial landscape.

Financial Risks in Retirement: Exploring the top 10 financial risks in retirement, including longevity risk, Social Security risk, tax rate risk, sequence of return risk, and withdrawal rate risk. It’s crucial for retirees to understand and address these risks to ensure a secure retirement.
Diversification and Planning: Highlighting the importance of diversifying between "casino money" (risk assets) and "vault money" (no-risk assets) to mitigate sequence of return risk and emphasizing the need for comprehensive planning that integrates various financial aspects to secure a robust retirement strategy.
Importance of Taking Action and Planning: Encouraging listeners to take proactive steps towards retirement planning, such as mapping out the theoretical workshop of their life, leveraging guaranteed payments for longevity risk, and seeking personalized advice to navigate the complexities of retirement risks and make informed financial decisions.

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In today's episode, host Dave Hall invites back Dr. Peter Lichtenberg, a renowned expert in the field of elder financial abuse, to shed light on this critical issue. Dr. Lichtenberg, a clinical gyropsychologist, discusses the misappropriation of older adults' funds through theft or scams, shedding light on the alarming increase in financial exploitation across all age groups.

The conversation delves into the differential impacts of exploitation by a trusted person versus a stranger, highlighting the need for effective prevention programs and the encouraging results of the SAFE program. Dr. Lichtenberg emphasizes the importance of autonomy and understanding in dealing with cognitive dissonance, offering practical advice for caregivers and individuals to navigate these challenging situations.

Throughout the episode, the discussion also covers the role of AI in perpetuating financial scams, along with valuable insights into reducing stress caused by financial exploitation. If you're looking for resources and tools to address elder financial abuse, Dr. Lichtenberg's website, www.olderadultnestegg.com, offers free information, resources, and training.

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In this episode, the show's host Dave Hall and Social Security expert Alisha Wright explore the intricate risks associated with Social Security. They delve into the complexities of claiming benefits, the potential impact of taxation, and the need to view Social Security as just one piece of the retirement income puzzle. With a focus on providing expert insights, they underscore the upcoming Social Security class and emphasize the importance of seeking professional guidance for making informed decisions. The discussion also includes in-depth responses to audience questions, delving into various scenarios related to Social Security benefits.

Key Takeaways:
1. Social Security claiming age is crucial; claiming too early can result in reduced benefits, while delaying too long may not yield any additional rewards after age 70.

Social Security is designed to cover only a portion of retirement income needs, approximately 40%, making it essential to have other income sources for a comfortable retirement.
A Social Security Analysis by experts helps in understanding the best claiming strategy, considering factors such as working status, marital situation, and individual financial goals.
Individuals may be eligible to claim benefits off an ex-spouse's work record under specific conditions, even without the ex-spouse's involvement or consent.

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Today, Dave Hall is taking a deep dive into the idea of taking control of your retirement. He's dishing out some valuable insights into the benefits of being in charge, like having more say in your decisions, feeling a deeper sense of satisfaction, and getting the chance to learn from the best in the field. We'll also explore the importance of staying connected and how being the boss can help you secure your legacy. So, kick back, relax, and let's dig into how being at the helm of your retirement can lead to a more fulfilling and successful post-career life!

Key Takeaways:
1. Take control of your retirement: Becoming the boss of your retirement can give you greater control over your financial decisions, leading to a higher chance of success in your retirement years.

Plan for your legacy: By being the boss of your retirement, you have the opportunity to put systems in place that allow for a seamless transition of financial responsibility, ensuring a better future for yourself and the next generation.
Stay connected and continually learn: Taking charge of your retirement allows you to work with experts who can educate you about various retirement topics, keeping you connected with the latest updates and resources to make informed decisions about your finances.

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Dave Hall and Christine Lee are here to dive deep into the world of retirement planning. They'll be unpacking the fascinating origins of Retirement Risk Advisors (RRA) and shedding light on the importance of tailoring risk-based retirement plans to suit each individual's unique needs and goals. You'll get to hear firsthand stories from Dave about how RRA came to be, along with insights into the dedicated team that makes it all happen.

But that's not all – they'll also be sharing their thoughts on the significance of having a retirement protection plan in place.

Key Takeaways:
1. Tailoring a risk-based retirement plan is crucial for a secure retirement. RRA focuses on customizing financial plans to meet individual needs, rather than a one-size-fits-all approach.

RRA offers comprehensive retirement planning services, including personalized risk assessment, tax optimization, and strategic planning to address various retirement risks. The emphasis is on empowering individuals to make informed decisions and implement customized solutions for long-term financial success.

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In this episode, Dave Hall and Brian Britt are tackling the crucial topic of longevity and its impact on retirement. They'll be discussing the evolving landscape of longevity risk, touching on the challenges of long-term care, and delving into the innovative solutions available to address these concerns. Whether you're gearing up for retirement or already enjoying your retirement years, this conversation is packed with valuable insights and strategies to help you make informed decisions about your financial future.

Key Takeaways:
1. Longevity risk is a significant factor in retirement planning, as people are living longer, impacting financial resources and potential long-term care needs.

The trend of using permanent life insurance policies with long-term care options provides a closed-end solution to address the financial challenges of long-term care in retirement.
Planning for long-term care should include solutions that prioritize in-home care, taking into account the potential significant costs and the practicality and comfort of staying in one's own home.

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Social Security is always a HOT topic when it comes to retirement planning. And that is extremely understandable when over 90% of Americans rely on it for a portion of their retirement.

So, in this episode, Dave is joined by Alisha Wright, a Social Security expert and junior adviser for Retirement Risk Advisers. They dive deep into the complex world of Social Security and tackle questions from real listeners. From the impact of Medicare premiums on Social Security benefits to the calculation of full retirement age and the thresholds for Social Security tax, Alisha shares invaluable insights to help listeners navigate their retirement journey. Whether you're curious about how pensions affect benefits, work credits requirements, or spousal benefits, this episode has the answers you need.

Key Takeaways:

Social Security is a complex and individualized decision - The best age to start Social Security benefits, the impact of working while receiving benefits, and the influence of personal circumstances all contribute to when it's best to start receiving Social Security.
Survivor Benefits - People who are widowed or divorced may be eligible to receive survivor benefits, and it's essential to understand how these benefits work and how they may impact personal retirement benefits.
Impact of external factors on Social Security - External factors like pensions, Medicare premiums, and work credits directly impact Social Security benefits, and understanding how they interplay with benefits is crucial for effective retirement planning.

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In this episode, host Dave Hall is joined by Christine Lee, the marketing manager of Retirement Risk Advisers. Together, they address a variety of questions on retirement risks, such as longevity, long-term care, and income diversity. They discuss topics like the role of annuities in addressing long-term care, the benefits of permanent life insurance, the diversification of retirement income, the potential of Roth annuities, and much more. Tune in to gain valuable insights into securing a financially stable and fulfilling retirement.

Key Takeaways:
1. Diversifying Income Streams: The episode emphasizes the importance of having multiple income sources in retirement, including Social Security, tax-deferred accounts, Roth accounts, annuities, and life insurance policies.

Understanding Annuities: The episode provides insights into annuities, highlighting their role in generating guaranteed income, addressing long-term care costs, and the need to align annuity choices with individual retirement goals.
Retirement Planning Strategies: The episode discusses various retirement planning strategies, including the use of Roth annuities, permanent life insurance, converting Roth IRAs into annuities, and the impact of medical history on life insurance policies, providing listeners with practical insights for effective retirement planning.

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Welcome to the RRSep102 episode of the Retirement Risk Show. In this episode, host Dave Hall discusses the various dimensions of risk planning in retirement and how it differs from the traditional approach taken by many financial advisors. He introduces the three-dimensional approach to retirement planning and the importance of matching an individual's attitude, capacity, and tolerance to risk with appropriate financial solutions. The episode delves into the RISA Metrics, which analyzes four key quadrants to assess an individual's retirement income style awareness. Additionally, Dave explores the implementation preferences that impact how individuals interact with their financial advisors. The episode offers valuable insights into creating a customized retirement plan tailored to an individual's unique needs and preferences. If you're seeking a more personalized and efficient approach to retirement planning, this episode is a must-listen.

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In this episode of RRS, host Dave Hall and guest Brian Britt dive into the topic of tax rate risks in retirement, with a focus on Roth conversions and accounts. They discuss the history and purpose of Roth accounts, the potential impact of tax rate changes, and the considerations for deciding whether to do a Roth conversion. They emphasize the importance of planning for potential tax increases in the future and navigating the theoretical nature of financial planning. Join them as they provide insights and strategies to help listeners prepare for the uncertainties of retirement and maximize their financial preparedness.

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Making the most of the last month of 2023 is ESSENTIAL to the success of your retirement!

In this episode, Dave Hall, delves into eight essential year-end planning strategies to help you ensure that your retirement is on-track and optimized for success. From reviewing and updating your retirement plan to maximizing contributions and managing tax implications, Dave covers the key actions you need to take before the year comes to a close. Whether it's rebalancing your portfolio or evaluating employee benefits, this episode provides a comprehensive guide to make the most of your financial situation as you approach the new year.

Key Takeaways:

Review and update your retirement plan to stay on track.
Maximize retirement contributions and consider Roth conversions for tax benefits.
Update beneficiaries and employee benefits, including healthcare plans.
Utilize tools like the Legacy Vault to organize and update financial information annually.

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A lot goes into retirement planning... more than just planning when. And with the financial risks being huge, knowing how you want to spent your retirement is something to consider...

During this episode, Dave Hall is joined by special guest Fritz Gilbert to discuss the key to a successful retirement. They delve into the importance of addressing both financial and non-financial aspects of retirement, finding purpose and fulfillment, building relationships, and making intentional choices for a fulfilling retirement lifestyle. Fritz shares insights from his Retirement Manifesto blog and highlights the need for trial and error in finding passions and interests. They also discuss the significance of choosing the right location and aligning it with desired activities and lifestyle. Tune in to discover the keys to a successful retirement and how to make the most of this incredible stage of life.

Key Takeaways:
1. Retirement is not just about financial planning; it's equally important to find passion, purpose, and fulfillment in retirement.
2. Building relationships and maintaining a positive mindset are crucial for a satisfying retirement.
3. When considering where to live in retirement, align your desired lifestyle with your location and establish connections beforehand.

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Welcome back to another episode of the Retirement Risk Show with your host, Dave Hall. In today's episode, Dave is joined by his partner and good friend, Brian Britt, to discuss withdrawal rate risk. They dive into the misconception of high withdrawal rates and the importance of understanding sequence of return risk. They also explore strategies to mitigate these risks and maximize your retirement income. So sit back, relax, and get ready to learn how to safely navigate through your retirement years!

Key Takeaways:

Market risks in retirement are different from working years as retirees rely on their investment portfolios for income, making them more vulnerable to market fluctuations.
The sequence of returns is a key factor in retirement planning. Taking withdrawals during down years can significantly impact the sustainability of a portfolio.
Diversification between guaranteed and risk-based investments can help mitigate market risks and allow retirees to feel more confident about their income stream.
Withdrawal rates should be calculated based on conservative assumptions and realistic average returns, rather than relying on overly optimistic projections.

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In this episode, we dive into the pressing issue of the national debt and its potential impact on our retirement. Dave shares his concerns about the ever-increasing national debt, its implications for future tax rates, and the need for bipartisan action. He discusses the proposed Fiscal Stability Act and the role of commissions in addressing fiscal challenges. Join us as we explore the potential ramifications of the national debt and how it could affect your retirement planning.

Key Takeaways:
1. The national debt is a significant concern with potential implications for future tax rates that could affect retirement planning.
2. The national debt is projected to continue increasing and may reach around $50 trillion by the year 2030, leading to potential economic and financial challenges.
3. Policy changes and bipartisan initiatives, such as the Fiscal Stability Act and the formation of a commission to address the national debt, are being proposed as potential solutions.
4. Individuals should consider planning for potential higher taxes in the future and assess the impact of national debt on their retirement plans, taking action to reduce tax risks and prepare for potential changes in tax rates.

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In this episode, Dave shares his frustration with misinformation in the financial industry. He specifically addresses some questionable claims made by Ken Fisher about annuities. While Fisher has built a successful business and gained many clients, Dave disagrees with his negative stance on annuities. Dave believes that annuities can play a crucial role in securing a safe and secure retirement, especially in the face of the challenges posed by longer lifespans and market volatility.
Throughout the episode, Dave delves into the inaccuracies and generalizations made about annuities, emphasizing the importance of considering individual needs and goals when evaluating financial products. Stay tuned for an insightful episode where Dave shines a light on this contentious topic and provides valuable perspectives on retirement planning.

Key Takeaways:
1. Dave discusses the misconception that annuities are not an investment vehicle. He points out that annuities, especially deferred annuities, provide rates of return and can help individuals reach their retirement goals.

Dave challenges the misconception that all annuities are bad by comparing it to having a bad car. He emphasizes that while there may be bad annuities, there are also good annuities that can be beneficial for retirement planning.
And he discusses the misconception of high fees associated with annuities. He highlights that while fees can vary, it is important to consider the benefits and protections that annuities offer, which the market may not provide.

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Building a secure retirement is not an overnight process, and it is of the utmost importance to consider the financial risks you will face. So, in this episode, Dave is joined by Retirement Risk Advisors Partner, Brian Britt. Together, they delve into the world of retirement planning, discussing the risks and challenges that individuals face as they navigate their golden years.

Dave and Brian share their experiences and insights as they compare retirement planning to the process of remodeling a home. They highlight the importance of taking a comprehensive, risk-based approach to retirement planning rather than getting caught up in the shiny features of investment products. They stress the need to prioritize addressing short-term, medium-term, and long-term risks, with a particular focus on market volatility as the most immediate risk.

Key Takeaways:
1. A risk-based approach to retirement planning is essential to address the most immediate risks, such as market downturns.
2. Market crashes pose a significant threat to retirement savings, especially for those nearing retirement.
3. Short-term, medium-term, and long-term risks should be considered and addressed in a strategic order.
4. Understanding sequence of return risk is crucial, as losses early in retirement can have long-term consequences on financial stability.

Master your retirement planning with a risk-based approach. Attend our FREE masterclass to learn what the financial risks are and why the old, traditional retirement plans are failing so many retirees.

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In today's episode, our host Dave Hall is joined by respected experts Marc Kiner and Jim Blair. These knowledgeable professionals have dedicated themselves to educating CPAs and clients on the intricacies of Social Security and its integration into retirement planning.

In this episode, Dave and his guests delve into recent updates and answer pressing questions about Social Security. They discuss the latest figures and adjustments, including the recent Cola increase of 3.2%, which may not have met some expectations. They also shed light on the Social Security wage base, annual earnings figures, and the income thresholds for different retirement ages.

Key Takeways:
1.The recent Social Security cost-of-living adjustment (COLA) for 2024 is 3.2%, lower than the previous year's increase of 8.7%.

The earnings limits for those under full retirement age have increased to $22,320 for the year and $1,860 per month. Going over this limit will result in a reduction in Social Security benefits.
Medicare premiums are estimated to increase by about $10 per month in 2024, with the base premium at $164.90. Medicare costs have been rising faster than Social Security benefits in recent years.

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In this episode, Dave discusses what you should expect from your financial advisor. He emphasizes the importance of finding a fiduciary who prioritizes your needs and provides the best products and services for your retirement. Dave also highlights the significance of setting realistic financial goals and the need for customized services tailored to your individual preferences. Lastly, he emphasizes the importance of understanding the details of your financial plan and ensuring that your advisor asks the right questions to meet your retirement goals. Tune in to this episode to gain valuable insights on selecting the right advisor and planning for a safe and secure retirement.

Key Takeaways:
1. Look for a fiduciary advisor who will prioritize your needs and ensure your retirement is secure, even if it means earning less.

Set realistic financial goals with your advisor, avoiding unrealistic expectations that may put your retirement at risk.
Seek customized services that align with your retirement goals and preferences, ensuring your money works for you during your lifetime and beyond.

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In this episode of RRS, host Dave Hall delves into the often misunderstood realm of reverse mortgages. Joined by expert Steve Resch, Vice President of Retirement Strategies for Finance of America Reverse, they discuss how it can be a valuable tool for securing a comfortable retirement. With a passion for educating others on the benefits of reverse mortgages, Steve shares his personal journey and the reasons why he founded this segment of his business. Together, Dave and Steve shed light on the misconceptions surrounding reverse mortgages and provide insights into who can benefit from incorporating home equity into their retirement plans. Tune in to this enlightening episode!

Key Takeaways:

Reverse mortgages can be a valuable tool for enhancing and safeguarding retirement plans, particularly for those with significant home equity.
Using home equity through a reverse mortgage can help supplement income during market downturns or address shortfalls in long-term care planning.
Reverse mortgages should not be seen as a last resort, but rather as a strategic option within a larger retirement strategy

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In this episode of The Retirement Risk Show, we'll be diving into a topic that may not always stir excitement, but is essential to understanding and preparing for your retirement journey - recessions.

Retirement is a time of freedom and enjoyment, free from the burdens of work and responsibilities. However, it's important to be aware of the potential challenges that may arise so that we can be prepared. Just like preparing for a hurricane, we need to ensure our retirement plans are resilient and can weather any storm that comes our way.

In this episode, we'll discuss the impact of recessions on retirees and the concept of sequence of return risk. When the market takes a downturn, it can have a significant impact on retirees who rely on their investments for income. Unlike when we're working, we can no longer rely on steady contributions or the market eventually recovering. This means that the timing of a recession during retirement can have long-lasting consequences.

We'll explore historical examples of market downturns and the time it took for the market to recover, from the Great Depression to more recent recessions. By understanding these trends, we can make informed decisions to protect our retirement savings and ensure a secure future.

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Welcome back to the Retirement Risk show! In today's episode, we have a special guest, Alex Siler, the national sales director for Medicare Compare USA. We'll be focusing on Medicare, a topic we often discuss on the show, but now with the annual enrollment period approaching, it's the perfect time to dive deeper into it. Alex will be sharing valuable insights and information to help you navigate through the Medicare system and make the best decisions for your healthcare needs. We'll cover everything from Part A and Part B, which are the basic parts of Medicare, to Medicare Advantage and the Medicare supplement plans. We'll also discuss the importance of evaluating your prescription drug coverage during this enrollment period. So join us as we break down the complexities of Medicare and help you make informed decisions for a secure and happy retirement. Let's get started!

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Much like Social Security, there is more to Medicare than meets the eye. And as part of the crucial groundwork to so many retirements, it is essential to understand the ins and outs of the program.

In today's episode, Dave dives into the topic of Medicare risks. He explains the importance of understanding the different parts of Medicare and how they interact with each other, as well as the consequences of not signing up for the right benefits. Dave breaks down the basics of traditional Medicare, including Part A and Part B. He emphasizes the potential out-of-pocket costs and gaps in coverage that retirees need to be aware of. Additionally, he sheds light on the essential prescription drug coverage provided by Part D and the importance of finding the right insurance carrier.

Key Takeaways from this Episode:

Medicare risks are an important aspect of retirement planning, and it is crucial to understand the right benefits to claim and the appropriate time to sign up.
Traditional Medicare consists of Part A (hospitalization insurance) and Part B (general health insurance), with Part B requiring a monthly payment.
Medicare has gaps in coverage and does not cover certain expenses, such as deductibles and prescription drugs. Part D is the prescription drug side of Medicare, provided by third-party insurance companies.
It is advisable to contract with a broker who can help navigate the complexities of Medicare, including comparing pricing and coverage options.
Failing to sign up for Medicare at the right time can result in penalties, such as a 1% per month penalty for Part D and a 10% per year penalty for Part B.

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In this episode, host Dave Hall is joined by his partner Paul Obendorf to discuss two important retirement risks: sequence of return risk and inflation risk. They delve into the impact of sequence of return risk on retirees' portfolios, highlighting how retiring during market upswings versus downturns can drastically affect retirement experiences. But fear not, they also provide strategies to mitigate this risk, such as creating a separate income bucket using fixed indexed annuities. Discover how these annuities can eliminate sequence of return risk and provide a guaranteed income stream, making retirement more secure. Plus, they explore the importance of generating income throughout retirement and how it can boost retirees' comfort levels. Tune in to learn how to minimize risks and make the most of your retirement years on this informative episode!

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In today's episode, host Dave Hall is joined by RRA expert partner Brian Britt to discuss an important topic: sequence of return risk in retirement. As they delve into this subject, they shed light on how this concept has evolved over the years and why it is becoming increasingly important in retirement planning. Dave and Brian draw from their decades of experience in the industry to analyze the impact of market downturns and share strategies to navigate this risk. Plus, they discuss the historical context of retirement planning, highlighting the shifts they have witnessed throughout their careers. So, if you want to gain valuable insights on sequence of return risk and learn how to safeguard your retirement, tune in to this informative episode of RRS.
Top Key Takeaways You Will Learn:

Sequence of return risk is a relatively new concept in the retirement planning industry. It wasn't widely discussed or recognized until recent years. However, it has gained significant importance and is now a crucial consideration for retirees.
The impact of sequence of return risk can be significant. Market downturns, like the ones experienced in 2000 and 2008, can have a devastating effect on retirees' portfolios, forcing them to alter their retirement plans or even go back to work.
Prior to the emergence of sequence of return risk, many individuals focused solely on asset management and individual stock investments. However, it is now recognized that diversification and professional asset management are crucial in mitigating the risks associated with sequence of return.

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In this episode of the Retirement Risk Show, Dave Hall dives into the topic of sequence of return risk. But before getting into the details, he shares some eye-opening statistics from the 2023 BlackRock Read on Retirement Report. The report highlights the challenges faced by Americans when it comes to saving for retirement, with many falling short of the recommended savings levels. Dave discusses the impact of a lack of retirement income, recession fears, high inflation, and increased market volatility on people's confidence in their retirement plans. Tune in to learn how understanding and managing sequence of return risk can help you navigate these challenges and secure your financial future in retirement.

Key Takeaways:

Lack of retirement income is a major concern for retirees, with only 21% feeling confident about having enough income.
Recession fears should not stop individuals from planning for retirement. It is important to have strategies in place to weather economic downturns.
High inflation has impacted many people's ability to save for retirement. However, the host believes that inflation will decrease in the future.
Increased market volatility is a factor that affects retirement planning and should be considered when creating a strategy for sequence of return risk.

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Coming up on this episode of RRS, your host Dave dives to the realm of hospice care with guest Penny Smith, a hospice nurse and TikTok guru who has been making waves in the industry. Penny shares her journey into the world of hospice and how she has become a passionate advocate for high-quality end-of-life care. They discuss the misconceptions surrounding hospice, the role of families in the process, and the importance of planning for your own eventual death.

Key Takeways:

Learn what end of life care and hospice really are
Gain clarity on misconceptions of hospice care
Understand the importance of having a plan for end of life care
Discover what a plan for end of life care can do for you and your family

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Welcome to the RRS podcast, where we dive deep into the world of retirement planning and risk management. In today's episode, host Dave Hall is joined by special guest Alecia Barnette, VP of Care Planning for Financial Independence Group. Together, they explore the challenges and solutions of long-term care planning. From the two main ways to mitigate risk to the significant changes in the industry over the past 20 years, Dave and Alecia offer valuable insights into protecting your loved ones and keeping your family together. So grab a snack and a notepad, sit back, and get ready for an informative and thought-provoking discussion on long-term care with Alecia Barnette.

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In this episode of RRS, host Dave Hall discusses the importance of organizing personal information and end-of-life planning. Joined by guest John Braddock, co-founder of My Life and Wishes, they dive into the challenges that arise when navigating important decisions after a loved one's passing. They explore the benefits of utilizing a secure digital platform to store documents, preferences, and wishes, making it easier for family members to access crucial information during difficult times.

Tune in as Dave and John provide valuable insights and practical solutions for a smoother retirement transition and peace of mind for the future.

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Welcome to another episode of the RRS podcast with your host, Dave Hall!

In today's episode, we dive into a topic that impacts retirement: the crucial role the Federal Reserve plays in it. As our financial landscape continues to evolve, it is vital that we accept and prepare for challenges to ensure a secure future. Risk-based planning emerges as a solution to navigate these uncertainties. From restructuring investments to mitigating potential issues, we explore six ways the Federal Reserve impacts your retirement.

We delve into interest rates, debt concerns, and the influence of inflation on affordability. Join us as we discuss the importance of savings, strategic buying decisions, and risk-based planning to achieve a worry-free retirement. So, grab your notepad and get ready to gain valuable insights in this informative episode!!

Key Takeways:

The Federal Reserve's policies have a significant impact on retirement planning, particularly through their influence on interest rates.
Higher interest rates can make it more difficult to qualify for loans, increase loan payments, and impact the profitability of businesses.
It is crucial to plan ahead, pay off debt, and consider risk-based planning strategies to navigate potential challenges and ensure a secure retirement.
By understanding and staying informed about the Federal Reserve's actions and their implications, individuals can make more informed decisions about their finances.

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On this episode of RRS, host Dave Hall welcomes Cameron Huddleston, author of "Mom and Dad, We Need to Talk." They dive into the importance of openly discussing finances with children to help them become more responsible with money. They discuss the significance of life insurance, estate planning documents, and powers of attorney in ensuring financial and medical decisions are made according to one's wishes. Cameron emphasizes the importance of having these documents in place while mentally competent and informing family members about their location. They also touch on the emotional aspect of ensuring family heirlooms and wishes are honored. The episode further explores the risks of not discussing money with loved ones, including increased vulnerability to fraud and financial mistakes.

Key Takeaways:
1. Openly discussing finances with children can help them become more responsible with money. It's important to have conversations about financial principles and mistakes, as these discussions can lead to children being more responsible adults compared to those who have never had such conversations.

Life insurance is important for both the breadwinner and the stay-at-home spouse/partner. Having life insurance provides financial protection and ensures that loved ones are taken care of in case of unexpected events.
Estate planning documents such as a will or trust are crucial for determining who gets what when you die. It's important to have these documents in place while you are healthy and mentally competent. Inform your family about the location of these documents and how to access them.
Having a financial power of attorney and healthcare power of attorney is important in case you are unable to make financial or medical decisions. These documents ensure that your wishes are followed and prevent any potential issues or conflicts.
Discussing your final wishes, such as burial or cremation, is important at any age. Letting your family know about your wishes makes it easier for them when you pass away. It is important to honor and fulfill the wishes of loved ones, and having these conversations can relieve the burden on family members.

To read more from Cameron Huddleston: visit her company blog here.
For even more information on her book, visit her website here.
To get the best tools and resources on the risks facing your retirement: www.retirementriskadvisors.com.

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This week is Part 2 of "15 Reasons Why People Run Out of Money in Retirement!"

On this episode of RRS, Dave Hall dives into the topic of retirement and the various risks that can affect one's financial security during this phase of life. He discusses the financial risks like inflation that can cause retirement funds to deplete faster than expected. Moreover, he stresses the need for careful financial planning, as retirees on fixed budgets are facing increasing expenses such as rent, food, and utilities. This episode also explores the impact of unexpected expenses during retirement and emphasizes the need for individuals to preserve their retirement assets for the future.

You will learn from this episode the second half of the 15 reasons!

Key Takeaways:
1. Failing to consider the impact of inflation on retirement can lead to a rapid depletion of funds. Use the rule of 72 to calculate the impact and adjust your retirement plans accordingly.
2. Unexpected expenses can put a strain on retirement finances. Plan for big-ticket items and prepare for unexpected costs like home repairs or medical expenses.
3. Don't risk your retirement savings on risky investments or financing your children's dreams. Preserve your assets for your own future and consider other ways to support your loved ones.
4. Be cautious with your spending during retirement, as expenses can add up quickly. Focus on meaningful and long-lasting gifts rather than material items that may not hold their value.
5. Divorce can have a significant impact on retirement plans, including the division of assets and potential Social Security penalties. Consider the financial implications of divorce and plan accordingly to safeguard your retirement.

Support the showFollow us on Instagram: @retirementriskadvisors
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Support the showFollow us on Instagram: @retirementriskadvisors
Like us on Facebook: Retirement Risk Advisors
Like the show on Facebook: The Retirement Risk Show
Follow here for updates on Dave's book and so much more!

In this episode of The Retirement Risk Show, Dave Hall and Paul Obendorf dive into the topic of fixed indexed annuities. They discuss how fixed indexed annuities have evolved over the years, offering better index options, increased income options, and the ability to convert them to Roth Annuities. They highlight the benefits of fixed indexed annuities in retirement, such as downside protection, potential for growth, and tax-free lifetime income. They also explain why fixed indexed annuities have become a popular choice for retirees, providing a balanced approach between safety and returns.

Key topics covered:

Importance of income diversity in retirement planning, considering the decline of pensions and the need for alternatives.
Advantages of annuities as a retirement income strategy, including potential tax-free income, guaranteed lifetime income, and protection against market fluctuations.
Evolution of annuity products, such as fixed indexed annuities, with improved index options, earnings potential, and income options.
Drawbacks of traditional retirement planning approaches, relying solely on investments, and the need for a separate income bucket to replace previous income.
Risks and considerations associated with different types of annuities, including variable annuities with higher fees and market exposure, and fixed index annuities with downside protection and potential for growth.

To get more information on our new masterclass and other great tools and resources visit our website.

To learn more about Dave's NEW book please visit our book page here! Here you can download a free chapter of the book and even buy your own copy if you'd like!

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A great place to begin when planning for retirement is understanding your expenses and budget to make sure your income meets those needs. This is especially true when retirement is oftentimes a period where you're on a fixed income.

On this episode of RRS, the Retirement Risk Show, Dave Hall stresses the importance of preparing for retirement and the potential risks that come with it. He shares insights about the ten risks that can arise during retirement, including lack of income diversity. Dave advises creating a budget and managing expenses, getting out of debt before retirement, and preparing for the transition of work-related expenses to healthcare expenses. He also recommends keeping track of fixed and variable expenses.

Key Topics Covered:

The need for evaluating your income needs and expenses
Why medical and health care costs should not be underestimated
Strategies to generate and supplement income
Learn steps you can take today to help decrease retirement expenses

Dave's book is out! Get your copy on Amazon in your preferred format!

For even more information on the risks facing your retirement and what you can do to reduce or even eliminate those risks, visit www.retirementriskadvisor.com.

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What can you do about guaranteeing retirement income? In today's society retirement needs more than tax-deferred accounts and Social Security. Having this traditional setup only promotes risk exposure, especially to a lack of income diversity.

More consideration needs to be given to income streams for your retirement so you aren't part of the ever-growing number of Americans who go broke in retirement.

So this week Dave talks about Roth annuities as an option to reduce the challenges having a lack of income diversification!

During this week's episode you will learn about:

What a Roth annuity is
How it adds diversification to your retirement income
The two ways you can set one up
And the benefits of a Roth annuity

To learn more about Roth annuities and other income diversifications strategies visit www.retirementriskadvisors.com.

Visit our webpage to buy Dave's new book "Getting Safely Through Retirement: A New Retirement Planning Paradigm" and get signed up for our new Shatter Your Retirement Risks Masterclass!

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There is a lot to consider when planning for retirement. But an overseen and costly risk is the lack of income diversity. Far too often retirees have their taxable or tax-deferred buckets too full and not enough in tax-free.

On this episode of RRS, Dave discusses the top 5 tax-free sources of income for retirement. He covers how retirees will need 65-80% of their pre-retirement income to maintain their lifestyle and how they will lose deductions for children, education, and tax-deferred accounts. Listeners will learn about how to structure income tax-free by following certain laws and rules and the unexpected tax consequences of some income streams. Furthermore, he discusses the importance of guaranteed income in retirement and how to avoid paying taxes on Social Security benefits. And additionally, Dave dives into the benefits of Roth accounts, including contributions and conversions and explores tax-deferred investments, permanent life insurance, charitable contributions, and annuities as tools to consider for retirement planning. Finally, he examines how taxes are set to increase in the future and why it's beneficial to take advantage of Roth accounts now before tax increases occur.

Key Topics Covered:

Top five strategies to diversify retirement income
Methods to reduce taxability in retirement
Benefits of Roth accounts, fixed-indexed annuities, and permanent life insurance policies

For more information and resources on the risks facing your retirement visit www.retirementriskdadvisors.com.

To sign up for our Shatter Your Retirement Risks even, visit, www.shatterretirementrisks.com.

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"There is no question that Social Security must be reformed to come to grips with today's reality." - Russell Gloor
On this episode of the Retirement Risk Show, Dave Hall invites Russell Gloor to discuss the hot topic of Social Security. Russell shares his experience working for the nonprofit affiliate of the Association of Mature American Citizens, the AMAC Foundation, and their Social Security advisory service that fields about 8000 questions per year. Dave and Russell discuss the myths and misunderstandings about Social Security, and how the program is being impacted by demographic and life expectancy changes. They also dive into the proposed solution from AMAC to restore Social Security's solvency without increasing taxes and the ongoing discussions in Washington, DC about the program's future.

Key Topics:

History of discussions about the insolvency of Social Security, the current state of the program, and possible solutions
The advantages of delaying claiming Social Security and how it can impact lifetime benefits
Overview of the Social Security Guarantee proposal from AMAC to address the solvency issue
Discussion of myths and misunderstandings surrounding Social Security, including the idea that people won't get back what they've paid into the program
Importance of understanding Social Security as a critical component of retirement planning

Attend our NEW Masterclass: Shatter Your Retirement Risks! Put the worry of running out of money behind you, so you can enjoy your golden years with a peace of mind.

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Mary Beth Franklin says, "To claim [Social Security] benefits early out of fear is like selling your stocks in a down market. The only thing you have guaranteed is you have locked in a loss."And she makes a great point when it comes to the security and safety of, not only your Social Security benefits, but your retirement as a whole.

On this episode of The Retirement Risk Show, Dave Hall discusses the challenges posed by retirement and the importance of making the right decisions regarding Social Security benefits. He invites Social Security expert and CFP Mary Beth Franklin to offer insight into the system and how to maximize benefits. The discussion includes the benefits of waiting until age 70 to claim Social Security and the potential dangers of claiming too early or too late. Additionally, they explore the financial difficulties facing Social Security and potential solutions proposed by experts such as increasing taxes and capping Social Security.

Key Topics Covered:
- The importance of Social Security and potential changes to it

- The length of interest and stability in retirement plans

- Specific strategies for claiming Social Security benefits

- The history and funding of Social SecurityTo learn more about Social Security, sequence of return risk, Medicare, and the other risks that you will face during retirement, visit retirementriskadvisors.com.

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On Wednesday, August 14, 1935, Franklin D. Roosevelt signed the Social Security Act into law, the inception of the program 96% of Americans rely on today as a staple of their retirements.

This week Dave brings on Nancy Altman, President of Social Security Works and a woman who has worked with Social Security reform and laws since 1978. Nancy brings her hands on experience within the program from Capitol Hill to talk with Dave about the history of the program and the solutions that can help make the program last.

During this week's episode you will learn:

The history of the Social Security program
How FDR's intents of the program compare to today's benefits
How Social Security is an insurance versus just a government program
What shortfalls the program has seen historically and the solutions implemented
The concerns of the program today and possible long-term solutions

Visit www.socialsecurityworks.org for more insight and information on the organization and their services.

To learn more about Social Security, the other financials risks you will face in retirement, and how to get safely through retirement, visit www.retirementriskadvisors.com.

About Our Guest:
Nancy J. Altman has a forty-five year background in the areas of Social Security and private pensions. She is president of Social Security Works and chair of the Strengthen Social Security coalition.

Democratic House Leader Nancy Pelosi appointed Ms. Altman to a six-year term, starting October 1, 2017, on the Social Security Advisory Board. The seven-person Board is a bipartisan, independent federal government agency established in 1994 to advise the President, Congress, and the Commissioner of Social Security.

Ms. Altman is the author of The Battle for Social Security: From FDR’s Vision to Bush’s Gamble (John Wiley & Sons, 2005) and The Truth About Social Security: The Founders’ Words Refute Revisionist History, Zombie Lies, and Common Misunderstandings (Strong Arm Press, 2018). She is also co-author of Social Security Works! Why Social Security Isn’t Going Broke and How Expanding It Will Help Us All (The New Press, 2015). She has shared her Social Security expertise on numerous television and radio shows, including PBS NewsHour, MSNBC, and FOX News. She has published op-eds in dozens of newspapers including the New York Times, Wall Street Journal and USA Today.

From 1983 to 1989, Ms. Altman was on the faculty of Harvard University’s Kennedy School of Government and taught courses on private pensions and Social Security at the Harvard Law School. In 1982, she was Alan Greenspan’s assistant in his position as chairman of the bipartisan commission that developed the 1983 Social Security amendments.

From 1977 to 1981, she was a legislative assistant to Senator John C. Danforth (R-Mo) and advised the Senator with respect to Social Security issues. From 1974 to 1977, she was a tax lawyer with Covington & Burling, where she handled a variety of private pension matters.

Ms. Altman chairs the Board of Directors of the Pension Rights Center, a nonprofit organization dedicated to the protection of beneficiary rights. She is a member of the Boards of Directors of the Alliance for Retired Americans Educational Fund, the Economic Opportunity Institute, Latinos for the Secure Retirement, and the Institute for America’s Future. In the mid-1980’s, she was on the organizing committee and the first board of directors of the National Academy of Social Insurance.

Ms. Altman has an A.B. from Harvard University and a J.D. from the University of Pennsylvania Law School.

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Ever wonder what impact claiming your Social Security benefits at an early age would have on your retirement plan? Ever wonder if claiming your benefits at 62 is the best option for you? Ever wonder why a chunk of people claim their benefits right when they are eligible to? Or wonder about the consequences of doing so?

This week Dave provides detailed answers to those questions!

Dave discusses two reports from the RAND Corporation that focused on the reasons why people claim their benefits so early and the consequences that may arise from claiming them so early.

During this week's episode you will learn:

Why so many folks do claim their Social Security benefits at 62
How claiming so early will impact your overall benefits negatively
That age does matter when it comes to claiming your benefits
The consequences of claiming before Full Retirement Age

To learn even more about Social Security risk and the other risks facing your retirement please visit www.retirementriskadvisors.com . Here you can find more webinars, blogs, podcast episodes, and so much more to help you get safely through retirement!

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When Social Security was created and signed into law in August of 1934 by President Franklin D. Roosevelt the intent was to help retirees stay out of poverty and provide a security during economic uncertainty. Now, almost 90 years later, Social Security is predicted to run out of money within the decade. While this isn't the first time the Social Security program has faced this problem, the circumstances are much different than when taxation was introduced to the benefits under President Reagan.

To discuss the insolvency problem Social Security faces, an issue that could impact your retirement, Dave brings onto the show this week Andrew G. Biggs, senior fellow at the American Enterprise and Social Security expert.

During this episode you will learn:

What Social Security insolvency is
The issues the program will likely see within the next decade
How these issues will impact many retirements
And potential strategies and ways to address these issues

About Our Guest:

Andrew G. Biggs is a senior fellow at the American Enterprise Institute (AEI), where he studies Social Security reform, state and local government pensions, and public sector pay and benefits.

Before joining AEI, Biggs was the principal deputy commissioner of the Social Security Administration (SSA), where he oversaw SSA’s policy research efforts. In 2005, as an associate director of the White House National Economic Council, he worked on Social Security reform. In 2001, he joined the staff of the President’s Commission to Strengthen Social Security. Biggs has been interviewed on radio and television as an expert on retirement issues and on public vs. private sector compensation. He has published widely in academic publications as well as in daily newspapers such as The New York Times, The Wall Street Journal, and The Washington Post. He has also testified before Congress on numerous occasions. In 2013, the Society of Actuaries appointed Biggs co-vice chair of a blue-ribbon panel tasked with analyzing the causes of underfunding in public pension plans and how governments can securely fund plans in the future. In 2014, Institutional Investor Magazine named him one of the 40 most influential people in the retirement world. In 2016, he was appointed by President Obama to be a member of the financial control board overseeing reforms to Puerto Rico’s budget and the restructuring of the island’s debts.

Biggs holds a bachelor’s degree from Queen’s University Belfast in Northern Ireland, master’s degrees from Cambridge University and the University of London, and a PhD from the London School of Economics.

For more information on Social Security insolvency read Andrew Biggs' article: What Does Social Security Insolvency Mean?

For more information on the risks facing your retirement, visit www.retirementriskadvisors.com.

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Social Security benefits are very unique to every person. Each person who can claim benefits should consider who else may be entitled to claim off their work history, especially since this benefit is oftentimes the only inflation-adjusted income stream retirees have.

This week Dave dives into what oils the machinery of Social Security claiming strategies. He brings back Jim Blair and Marc Kiner of Premier Social Security Consulting, LLC to help provide firsthand knowledge

In this episode you will learn:

How situational Social Security works and how it will impact maximizing your benefits
What the cost of living adjustment (COLA) is
And how COLA factors into each year of your benefits
What provisional income is and how it impacts the taxes you may pay on your benefits

For even more information on Social Security and how you can get safely through retirement visit our site at www.retirementriskadvisors.com.

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April is Social Security month here on the Retirement Risk Show!

As a program that is the groundwork for majority of Americans’ retirements, there is more to your Social Security benefits than simply signing up once you are able.

This week Dave brings back on the show Social Security experts Marc Kiner and Jim Blair of Premier Social Security Consulting, LLC to discuss the inner workings of the program.

During this episode you will learn:

how the Social Security risks will impact your retirement
what situational Social security is and how it will impact your individual claiming strategy
ways to maximize your Social Security benefits
how Social Security is oftentimes the only inflation-adjusted income retirees have and how the cost-of-living adjustment is used and calculated

For more information on retirement risks and the tools and education to get you to and through a safer retirement visit our website www.retirementriskadvisors.com.

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Majority of America is going to rely on the Social Security program for their retirement to some extent. But with our retirement landscape changing and the Social Security program on the brink of challenges itself, it is important to know that Social Security should not be the only thing you rely on for retirement. In reality, it should be about 40% of your retirement income.

The truth is so many people don't understand what they are entitled to with Social Security, and potentially leave money on the table they should get.

On today's episode Dave discusses:

the history of the Social Security program
the challenges it faces now
and ways to potentially fix these issues
the risks of Social Security that could hurt your retirement
provisional income and Social Security tax

Social Security is the foundation of many retirements. And with the fear of running out of money so high in retirees, understanding Social Security is VERY important.

For more information on Social Security and the other risks you will face in your retirement, please visit our website.

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For a while, stockpiling your retirement funds into tax-deferred accounts worked. After pension slowly faded and retirement became less employer-sponsored, self-funded retirement has been the standard for decades now. IRAs and 401(k)s have become a staple for traditional retirement plans--contributing to these accounts with pre-tax dollars in hopes that when you retire and withdraw tax rates would be lower than in your working years.

Now, currently, taxes are at a historic low, but are set to increase at the sunset of 2025. And experts like David M. Walker have said that for many reasons taxes likely will double.

This week Dave hosts Larry DeLegge, Vice President of Business Operations of David McKnight and Company, to discuss how to approach the tax rate risk you will unfortunately experience in your retirement.

During this episode you will learn:

why tax rate risk destroys even well-planned retirements
why tax rates are bound to increase drastically as soon as 2030
why tax-deferred accounts should not be your only account you use for retirement
strategies to combat tax rate risk

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Retirement planning for the longest time has been heavily reliant on tax-deferred accounts and Social Security. And while this paradigm worked for the previous generations, especially after pensions began fading, relying heavily on tax-deferred accounts does not work well anymore. Today tax-free and tax-advantaged accounts are best!

Why did the old paradigm work so well for previous generations but not now?

And why do tax-free and tax-advantaged methods work better?

This week's episode answers those questions and so much more about tax rate risk in retirement. To discuss this risk Dave brings on Brian Britt, an expert partner with Retirement Risk Advisors.

During this episode you will learn about:

why the old paradigm of retirement planning does not work for tax rate risk now
why a risk-based approach best addresses this risk
the impact this risk has on your retirement
the 3-Bucket System
why tax brackets change from working years to retirement years
tactics to overcome tax rate risk and benefits of them

For more information on tax rate risk, its impact on retirements, and how you can tackle it, listen to episode 63 of the Retirement Risk Show!

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Taxes--a topic many people don't give much thought to when retirement planning. But you have to plan for tax rate risk when you are piecing together your retirement portfolio and plan.

If not, your retirement is bound to be impacted by what experts predict to be double what tax rates are now. Instead of paying the lower taxes of today, you could be paying more on your hard-earned and saved money.

To break down tax rate risk and its impact on your retirement, this week Dave brings on David McKnight, Power of Zero founder and best-selling author, onto the show.

During this episode you will learn:

what tax rate risk is
how tax rate risk can and will impact your retirement
how a one-size-fits-all approach to tax strategy is not ideal
tactics and methods to reduce and eliminate tax rate risk (and some that may even help reduce other risks such as longevity, withdrawal rate, and sequence of returns risks)

For more on tax rate risk and the other risks you will face in retirement, sign up for our flagship presentation Getting Safely Through Retirement: A New Paradigm in Retirement Planning. Here you can also find our other amazing webinars to help you get to a safer, more secure retirement!

Check out Dave's podcast interview with David M. Walker about the national debt, taxes, and other economic factors that play into why future tax rates will increase.

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Longevity Risk:

Is this episode Dave is talking about 5 things you can do today to help yourself better navigate the longevity your retirement may face.

1 Maximize your social security

2 Include annuities in your retirement

3 Take care of your mind and body

4 Solve for a long-term care event

5 Pay off debt prior to retirement

Remember we are living longer

If I was to reach out and ask 100 of you about what age you would pass away, over half of you would under estimate and you will love longer than you think.

This is going to take money, and resources. Your health also may not be in the best shape also.

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Paul Obendorf a Partner of Retirement Risk Advisors joins Dave on this weeks podcast to discuss the tools needed for retirement.

They break down retirement planning and the difference between your traditional accumulation planning, 3 things to look out for in retirement and all about Annuities and if they are good to have in your portfolio.

There's many things that can impact your retirement. But probably the three biggest are..

1 - Sequence of return risk - that's a special type of market risk that really only affects you in retirement, it doesn't affect you and your accumulation years, because you're not taking money out. And your retirement years is a very important thing to address.

2 - Taxes - In 2018, when the tax cuts went into effect, that began an eight year period where taxes are at historically low levels. So because those taxes are at historically low levels, that gave us an eight year window, to begin to strategically shift money from taxable and tax deferred buckets to tax free buckets, in an effort to hopefully get ourselves to the 0% tax bracket in retirement.

3 Long-term care - 70% of people over 70, at some point in their life may have some need for long term care if you made it all the way through to your mid to late 80s.

Traditional planning was focused on the fact that when you would retire, you would get a pension. And so that pension was there to take care of you. And as pensions started to die off, Americans began to realize that more and more, they're in a self funded retirement. Now, instead of a pension, taking care of your carrying you through retirement, you've got to save up your own nest egg, and rely on nest egg to carry you through for an extended period of time. So there's a lot of advisors unfortunately, out there that are still clinging to the old way of planning for retirement where you would just leave everything in the market and then just kind of pull from the market as needed.

So really, in retirement, it all starts with income. And so what you've got to do is create an income bucket. And that income bucket, you're better served by utilizing something like a fixed index annuity, versus relying on a bond portfolio to do that.

There's a lot of guarantees that come with a fixed index annuity, to not only keep your money safe, but provide lifetime income streams...

Find out all the details and the tools you need on this weeks episode.

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With the biggest fear for retirement being the fear of running out of money, the old traditional paradigm of retirement planning exposes more retirees to financial risk than ever before. A new, risk-based approach is what will make your retirement money last!

And this week Dave Hall interviews professionals within the FIG network at the FIG Annual Sales Symposium about strategies, vehicles, and products that can help address, reduce, and eliminate the risks facing your retirement.

During this week's mini-interview series with Dave you will learn:

strategies that will help your funds last throughout retirement
what products can reduce more than one financial risk at a time
ways products and services since as reverse mortgages and annuities have improved over the years
how these products can help you or your clients for retirement

Those Interviewed:
Nicki & Sean Redinbaugh, The Legacy Guardians
Stephen Resch, Finance of America Reverse
Andre Thompson, Silac Insurance Company
Angela Schroder, USE&O Brokers
Jeff Hallman - Asset Life Settlements
Tiya Stanley, F&G
Ethan Kap, Wealth Beyond Wall Street

Check out our other mini-interview series episode here: Directly from the Source: What CPAs Are Doing for Their Post-Career Years – Retirement Risk Show

Want to learn even more about these retirement products and strategies? Check out our webinars hosted by Dave Hall here: Events – Retirement Risk Advisors

For even more information on retirement risk and retirement plans, visit us as at www.retirementriskadvisors.com!

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Taking the reins of this week's show, Dave discusses the biggest fear of retirees: running out of money in retirement and still having years of retirement left. With 68% of retirees reporting that they fear this more than death, it is very important that folks plan appropriately so their hard-earned retirement funds and assets last. Dying broke is not joke.

During this week's episode you will learn:

Why the old, traditional paradigm of retirement planning is causing retirees to run out of money,
What FORO is,
3 simple strategies to begin ensuring you don't run out of money in retirement.

To learn more about the top ten risks facing your retirement and how to reduce them, visit our website at www.retirementriskadvisors.com.

For an in-depth breakdown of the retirement risks and how you can eliminate them, visit www.retirementriskadvisors.com/events to sign up for our flagship presentation "Getting Safely Through Retirement - A New Paradigm in Retirement Planning." You will find our other spectacular webinars here, too!

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Major life adjustments happen as you enter into retirement. Not only are you moving beyond your work identity, but you are journeying into later-life where health issues arise as you age and transition into a period where you might not be needed as much. Mental health during retirement is an important matter to address, and there are options to help and ways to further break the stigma.

This week Dave brings onto the show Dr. Gregory Scott Brown, author, mental health writer, and practicing psychiatrist, to discuss the importance of evidence-based methods and holistic methods that not only help your mind but can help improve your overall health.

During this episode you will learn:

the importance of mental health wellness during retirement
the impact physical and mental health have on each other
the integration of Dr. Brown's Five Pillars of Self-Care (breathing, spirituality, sleep, nutrition, and movement) AND traditional treatments/therapies
the importance of self-care at all stages of life for wellness as you age

For more information on Dr. Gregory Scott Brown's books, services, and articles, visit www.gregoryscottbrown.com. You can find him on social media using the handle @gregorysbrownmd.

Dr. Gregory Scott Brown's bio:
Gregory Scott Brown, M.D., is a board-certified psychiatrist, a contributing columnist for Men's Health magazine, and an affiliate faculty member at the University of Texas Dell Medical School. His first book, The Self-Healing Mind: An Essential Five-Step Practice for Overcoming Anxiety and Depression, and Revitalizing Your Life was published in June 2022 for Harper Wave. Dr. Brown believes we can work together to fight mental health stigma by having open and honest conversations about mental health. He is an advocate for evidence-based integrative care that includes incorporating exercise, mindfulness, meditation, and nutrition with standard-of-care treatments for mental illness.

Dr. Brown is a diplomate of the American Board of Psychiatry and Neurology. He completed a fellowship in integrative medicine at the Academy of Integrative Health and Medicine, specialty training in general psychiatry at the University of Texas Dell Medical School, and received an M.D. from the McGovern Medical School in Houston. Dr. Brown is an alumnus of Rice University, where he received a bachelor's degree in anthropology, and Johns Hopkins University, where he completed a post-baccalaureate premedical program. Prior to his transition to medicine, Dr. Brown studied music at The Juilliard School in New York.

During his time in residency, Dr. Brown was awarded a SAMHSA Minority Fellowship by the American Psychiatric Association (APA) and he was later appointed to and currently serves on the APA's Council on Communications.

Education and Training
* Board Certification: American Board of Psychiatry and Neurology * Texas Medical License * New York State Medical License * Fellowship in Integrative Health and Medicine: Academy of Integrative Health and Medicine (AIHM) * General & Adult Psychiatry: The University of Texas Dell Medical School (Including 4th Year Adolescent Psychiatry Track) * Doctor of Medicine: McGovern Medical School at the University of Texas Health Science Center Houston * Post-Baccalaureate Premedical Program: Johns Hopkins University * Bachelor of Arts in Anthropology: Rice University (Cum Laude)

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As one risk that can multiply the rest by tenfold, longevity is not a force to be reckoned with. Especially as more and more retirees are living beyond their average life expectancy. We should plan for a long life that accounts for retirement being 30, 40, or even 50 years long, so that less retirees are dying broke and can have a safe, happy retirement.

This week Dave hosts Dr. Jennifer Morozink Boylan, a biological psychologist and professor at the University of Colorado to discuss sides of longevity that aren't talked about enough. Not only do genetics and where you live impact your longevity, but how you live life, your socioeconomics, and your mental wellbeing.

During episode 57 you will learn:

how psychological factors contribute to your overall wellbeing
how those same factors impact your physical health, aiding in longevity
strategies to better your mental, social, and psychological wellbeing
other factors that contribute to your longevity through scientific research

For more information on Dr. Jennifer Morozink Boylan's research and findings on longevity, visit Jennifer Morozink Boylan | Health & Behavioral Sciences | CU Denver College of Liberal Arts and Sciences (ucdenver.edu).

For even more information on how longevity impacts your retirement and is a risk multiplier, visit www.retirementriskadvisors.com.

Dr. Jennifer Morozink Boylan's biography:
As a health psychologist, my research addresses the ways in which psychological factors engender resilience and protect against health risks associated with disadvantaged social status (low socioeconomic standing, racial minority). This work utilizes multiple methodologies, including national longitudinal survey data, biological assessments of cardiovascular and metabolic risk factors, and laboratory assessments of emotion regulation and physiological reactivity and recovery to stress.

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When it comes to late-life relationships and even divorce, Meredith Shirey states, "The goal needs to be understanding, not winning." A lot can change over a lifetime, especially as our population lives longer. After child-rearing and/or the working years, retirees are faced with a new challenge: more free time, more time at home, and having more time with their significant other.

Dave Hall brings in family and marriage counselor, Meredith Shirey, this week to discuss the impacts and trends of divorce in aging adults. Not only does it influence your personal life, but can impact your social and financial life, too.

During this episode Dave Hall and Meredith Shirey discuss:

trends and the studies of late-life divorce
advice, tips, and tricks that can help ease relationship tension after the working years
direct impacts late-life divorce could have on your retirement

For more info on Meredith Shirey's services, visit Home (relationshipcounselingnyc.com). You can also find her on social media by searching her name!

Meredith Shirey's Bio:
Meredith Shirey is a psychotherapist based in New York City. As a licensed marriage and family therapist she specializes in treating attachment and relationally based issues in couples and individuals. She has written and contributed articles to many online publications including Today.com, Elite Daily, Bustle, and the New York Times. She also cohosts the podcast “Love me or leave me,” which explores all things related to the complex issues we face in our closest relationships.

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In an era of uncertain, unprecedented times, the American fiscal irresponsibility causes many issues for today’s generations, the future generations, and their retirements. The math doesn’t add up when you look at U.S. spending. This will have drastic impact not only on our country, but globally and even within the walls of your home.

This week Dave Hall hosts Former Comptroller General of the United States David M. Walker to discuss America’s fiscal state, our national debt and deficit, taxes, and solutions he believes may help address these issues today with a long-term frame of mind.

David Walker says during this episode, “If you can’t put your finances in order, you will lose economic power over time.” And Dave Hall agrees by saying, “The government doesn’t work much different than our households in my opinion. We can’t run over budget indefinitely in our homes without having problems.”

During this episode you will learn about:

· America’s fiscal state and policies

· how the increased spending in these unprecedented times impacts you and your retirement

· how taxes increasing influences your money today and the future of your retirement

· potential solutions that could begin at home and that even apply to the U.S. government

For more information on David M. Walker and his books, please visit www.deficitranger.com.

David Walker Biography:

Over his professional career, Dave Walker has held leadership positions in the private, government and not-for-profit sectors—culminating in a decade-long mission to promote fiscal responsibility. From 1998 to 2008, Dave served as the seventh Comptroller General of the United States, where he spoke the truth to the American people about Washington’s fiscal mismanagement. Most recently, he served as CEO of the Comeback America Initiative (CAI), an organization Dave founded to engage his fellow citizens in the fight to restore fiscal sanity.

Prior to founding CAI, he served as the first President and CEO of the Peter G. Peterson Foundation. Previously, Dave earned three presidential appointments, each by different Presidents, with the most recent being his appointment as Comptroller General of the U.S. and head of the U.S. Government Accountability Office (GAO) to total 15 years of federal service. Dave also has over 20 years of private sector experience, including approximately 10 years as a Partner and Global Managing Director of Human Capital Services for Arthur Andersen LLP.

Dave has won many international and domestic leadership awards. He has authored three books, is a frequent media commentator, and the subject of the critically acclaimed documentary I.O.U.S.A. He is also listed in the Who’s Who in the World and Who’s Who in America.

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When living in a society that is fast paced like ours, the convenience of take-out and quick meals is very appealing. But did you know that cooking more at home could save you money in retirement and promote a healthier lifestyle?

This week Dave Hall hosts Chef Dennis Littley to discuss an ever-growing desire to cook at-home to save money, time, and improve health. Chef Dennis is an experienced chef turned food blogger in his retirement. With over 40 years in the culinary field, Chef Dennis is your go-to gentleman about cooking restaurant-style entrees and meals in your own kitchen.

During this episode you will learn:

how and why cooking at home can save you money in your retirement years
how to cater your kitchen needs to your tastebuds
about kitchen appliances and equipment you may want to help encourage cooking at home
how recipes are only guidelines and that adjusting them to your likes and tastes will help you fall in love with cooking more

For more recipes, tips, and tricks visit Restaurant Style Recipes | Chef Dennis (askchefdennis.com).

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At the end of 2022 the U.S. Congress passed updates and changes to the Secure 2.0 Act that will impact the landscape of the retirement planning. Since the bill was signed into law by President Joe Biden many of the changes went into effect immediately beginning the first day of 2023.

This week Dave Hall dedicates an episode to discussing the updates and changes that will help your retirement planning and saving. While there are over 92 changes within the Secure 2.0 Act, Dave dives into the major key changes that impacts many greatly.

During this episode you will learn:

how the Secure 2.0 Act changes the groundwork for your retirement
what those changes mean for your retirement
the key factors that increased RMDs, access to 401(k)s, and the increases to contribution limits
what changes went into effect immediately
what changes are set in stone for several years down the road

For key changes and factors that will impact your retirement planning this year, visit our blog Making Improvements in the Retirement Landscape: How the Secure 2.0 Act Impacts Your Retirement Today & Future – Retirement Risk Advisors.

For even more information on all 92 changes of the Secure 2.0 Act please visit our webpage at www.retirementriskadvisors.com/secureact.

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With 2022 coming to an end, and a new year just on the horizon, this is often a time to think of renewal and new starts. And to make headway so you can tackle a large project or goal, you have to start with taking small steps. This week's episode shows the importance of those steps when it comes to retirement planning and ensuring you won't run out of money during those after-work years.

Your host Dave brings back podcast producer and Retirement Risk Advisor partner CR Thelin to discuss a new, modern approach to retirement planning: a risk-based retirement plan approach.

During this episode you will learn:

the reasons you should have Risk-Based Retirement Plan
how a risk-based approach will reduce or even eliminate the risks you will face during retirement
strategies and methods to tackle retirement risks such as inflation, longevity, and sequence of return
the importance of beginning sooner versus later for retirement saving and planning
why a risk-based plan will offer you and your loved ones a peace of mind

For more on our webinars and a Risk-Based Retirement Plan, please visit our website: www.retirementriskadvisors.com. Our site offers great tools and resources to get you started!

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Have you considered what your loved ones will need to handle after you pass? Do you have a will in place, trusts, your life and wishes written down somewhere? Preparing for retirement also means planning for end-of-life wants and needs.

This week Dave brings on end-of-life expert Jon Braddock, co-founder of My Life & Wishes to discuss the importance of making your passing easier on your loved ones and what you can do to prepare for that. While it may be daunting to you, it is important to understand that preparing for death is as important as preparing for life. The beginning of your retirement is as important as the middle and the end.

During this episode you will learn:

about death etiquette
why more people need to do end-of-life planning and the consequences and difficulties that may arise if you don't
what someone can do if a spouse or loved ones passes
tips and tricks and even steps to take when estate planning and end-of-life planning
what a digital legacy is and why having one is most important in today's digital world

Jon Braddock is a business owner, entrepreneur, and the author of Advisor or Vendor, RetireEase, The My Life and Wishes Organizer and the Amazon best seller Click Here When I Die. Jon has spent more than 30 years in the employee benefit and retirement plan consulting space. He was the founder of Benefit Design Corp. in Milwaukee, WI and founder/co-owner of ISG Advisors, LLC a Madison, WI based company where he served as President and CEO. Jon is responsible for the creation of Behold Vision Plans, the Foundation Benefit Life Insurance Plan and Healthcare Benefit Alliance, a strategic employee benefit alliance for healthcare organizations. Jon’s extensive advisory skills, entrepreneurial thinking and a personal family situation led to his newest company, My Life and Wishes, Inc., a secure cloud based digital planning and document storage business, which helps people prepare for life’s what ifs. Jon and his wife Michelle reside in Scottsdale, AZ. They spend as much time as possible outdoors and are avid hikers and golfers. They have 8 children and one grandson.

For more information on Jon Braddock's services, books, and company and how he can help you visit Home - My Life & Wishes (mylifeandwishes.com).

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Life not some linear experience. It is a multitude of chapters, and retirement should be treated as so. Retirement is not a one-time event, but a process that you need to plan for, that you need to think about long-term.

This week Dave talks with Dr. Patrice Jenkins, organizational psychologist, speaker, and founder of Day One Dreams on celebrating and preparing for retirement. Asking the question, "What do you want to make yourself available to?" Patrice addresses retirement heads on with making the most of it and helping yourself transition into the difficulty that retirement may be. She speaks to her passion for answering the deeper questions and ensuring aging adults are thriving and living in retirement versus just retiring.

In this episode of the Retirement Risk Show you will learn:

tips and tricks for tackling the social, mental, and psychological factors of retirement readiness
about fears some retirees have about retirement
steps to either rekindle or discover a dream you have for retirement
the importance of planning retirement as a process, a transition of life

For more about Day One Dreams, visit Day One Dreams (patricejenkins.com).
For Dr. Jenkins' books and classes: Books & Classes | Day One Dreams (patricejenkins.com)

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2023 is creeping up on us fast. And with this new year approaching and new goals in mind, an essential part to your retirement planning should include understanding the changes Social Security and Medicare will undergo come January 1st, 2023.

This week Dave talks about these changes to Social Security and Medicare in detail. Not only will you know what changes are being made, but how they will impact you now and years down the road especially as you get into retirement.

During this episode you will learn:

· About the 2023 changes to Social Security

· About the 2023 changes to Medicare

· About the changes the Inflation Reduction Act brings on

· Why these changes will impact you now and later

· And how these changes will impact you now and later

For more detail on the changes Social Security, Medicare, and your retirement planning will see in 2023 between public policy and updated retirement plan contribution limits please visit our site: www.retirementriskadvisors.com/blog.

For an even more in-depth breakdown of the 2023 changes, visit www.retirementriskadvisors.com/events/ and sign up for our flagship presentation “Getting Safely Through Retirement” AND our limited time webinar “2023 and Beyond: Recent Changes to Social Security and Medicare.”

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Your mental and psychological wellbeing influences your budgeting and spending tendencies more than you know. And whether you are ten years out or a year out from retirement, understanding the why and how of your spending and saving habits will help build your retirement savings. Even if you are in retirement budgeting and saving on expenses is always helpful!

This week Dave hosts Shang, founder of Save My Cents. As a personal finance coach, Shang teaches about the role your mental wellbeing and needs influence your personal finance journey. She and Dave dive into ways to understand the behaviors that encourage spending, savings, and budgeting.

During this episode you will learn:

· how mental wellbeing and psychological needs influence your personal finance pre-retirement and in retirement

· tips and tricks to successfully saving and budgeting for your retirement

· where it may be easiest to cut down in your budget

· the importance of paying down debt and what may be holding you back

For information about Shang’s services and courses visit www.savemycents.com.

Follow her on Instagram: @savemycents

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When it comes to retirement planning, there are many products and strategies. The beauty of options is there is no one-size fits all. What matters is getting safely through retirement, having your assets last as long as you do and having retirement risks reduced. And one method to reduce those risks is a reverse mortgage.

Dave Hall hosts Harlan Accola, National Reverse Mortgage Director for FAIRWAY Independent Mortgage Corporation, to discuss how much of a staple a reverse mortgage can be when retirement planning.

This week dive deeper into reverse mortgages by learning:

benefits of a reverse mortgage
why some retirees benefit even if they don't think they need it
exactly howthey impact retirement funds
their impact to lengthen retirement portfolios if done early enough
the stigma around reverse mortgages and what has changed to make them retirement staples

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There are two questions Dave loves to know your answer to: What do you want your money to do while you are alive? What do you want your money to do after you are gone? Your answers impact and help Dave determine how to help plan for retirement.

This week's episode of The Retirement Risk Showis a special treat. Dave breaks down ten methods you can begin doing today to begin the journey to a risk-free retirement.

During this episode you will learn:

Strategies to overcome inflation and interest rate risk
The importance of having a long-term care plan in place
Why retirement education is essential to successful planning
How your emotional, mental, and physical wellbeing impact your retirement
Ways to plan for your legacy left behind

For more information on our webinars, Risk-Based Retirement Plans, and to get on Dave's calendar visit www.retirementriskadvisors.com.

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More and more retirees want to age in their home. However, homes are not always equipped for the safety and accessibility you will need in those later years.
With 40 years of experience in the field and a certified Aging in Place Specialist, this week occupational therapist Lynda Shrager joins Dave to discuss the importance of preparation to aging in place and just how exactly you can do that.

On this episode of the Retirement Risk Show you will learn:

Tips and tricks to make your home safer and more accessible
When you should begin preparing your home for aging in place
Modifications to reduce fall and injury risk
How to begin the decluttering process

For more information on Lynda Shrager's book, her services, and how the Organized Caregiver can help you age in place, please visit her website: OtherwiseHealthy.com.

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This week Dave jumps into a retirement strategy that is not for everyone but is a great opportunity. Mat Sorensen, CEO of Directed IRA, joins Dave in this episode to discuss the ins and outs of self-directed IRAs.

During this episode you will learn more than the basics on:

various self-directed IRAs
investment and growth opportunities
qualifications and limitations of self-directed IRAs
rollover potential from other retirement accounts into self-directed IRAs

For even more information on self-directed IRAs and Mat Sorensen's book, visit https://matsorensen.com/
You can listen to Mat Sorensen's podcast here: https://directedira.com/podcast/

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With retirement comes being an aging adult and there is so much more to retirement than kicking back and letting nature take its course. Beyond financial risks, retirement brings on mental and social challenges as well. There is still so much to be given. Retirement could be a new lease on life.

On this episode, Dave discusses embracing aging with Dr. Mary Flett, founder of the Five Pillars of Aging and an aging adult herself, to discuss the social, mental, and psychological means and transitions you will experience in retirement.

In this episode you will learn about

physical, social, and psychological factors of retirement being a major life transition
tips and tricks to manage transitioning from working to retirement
semi-retirement being a form of adaption and accommodation
how planning for the unexpected is important such as serious life event or medical condition

For more information on the five pillars of aging please visit www.drmaryflett.com.

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Did you know the place you settle for retirement will impact your life more than anything? It will impact your finances, but how you live as well.

This week Dave Hall brings on Ryan Frederick of SmartLiving 360 to discuss the importance of place when aging. Not everyone is meant for a sunny beach or a cool rainy area, but it is a key factor to consider how the weather and local culture will affect your retirement.

During this episode you will learn:

Why and how place impacts the health and longevity of you and your retirement
The importance of planning on living to age 100
What other factors also contribute to longevity and healthy living
The impact of connection and community versus isolation
How life may be different while either aging in place or starting in a new place

For more information, please visit assessment (smartliving360.com).

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After decades of saving, you are finally at retirement. You have extra free time, and maybe you even want to have something the grandkids will love, too. However, there are some things to be aware of when spending those first several years of retirement.

In this episode, Dave breaks down seven big ticket items that retirees often have regrets purchasing. While no retirement dreams and needs are the same, everyone can learn something from this episode about spending in the first several years of your golden years. Maybe that timeshare really isn't a good idea; maybe the boat you thought you'd use all the time is sitting there, collecting dust and not being used like you wished.

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Healthcare and medical costs are the biggest expenses retirees pay into. And because of that, this week Dave brings on Roy Ramthun, Mr. HSA to discuss what exactly a health saving account is. As a sound tool for your retirement, Dave and Roy cover how you can qualify for HSAs and how you are able to contribute--even covering what you can use the money within your HSA for and its limitations. Tune in as Dave and Roy cover the impact of inflation on health care costs, how HSAs are a great strategy to use for retirement, and even how the account can be transferred should you pass away with funds left.

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A staggering question retirees ask is what they can do to leave behind impactful inheritance for family members. And this week Dave Hall interviews Robert Farrington, The College Investor, to provide an answer: 529 Plans. Dave and Robert cover the benefits and limits of 529 Plans as means to help cover higher education costs for loved ones. As accounts grandparents can leave to their grandkids or even to their own children, 529 plans offer a great opportunity to leave behind something meaningful for your family and make an impact on their future for even graduate level degrees.

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A complex component to the success of your retirement is Social Security. In today’s episode Dave Hall brings back on Marc Kiner and Jim Blair of Premier Social Security Consulting to discuss many factors that affect your monthly Social Security. They dive into how your age when you claim your benefits impacts how much you receive, depending on if you enroll early or if you want until after your full retirement age. What your taxes and income is like also impacts your benefits greatly. Dave, Marc, and Jim discuss in detail how your earned income before and during retirement plays a tremendous role in how your benefits may be taxed and how different income streams affect your SS taxability more than others.

For more information check out Marc Kiner and Jim Blair’s previous podcast episode with us: “Social Security is Situational: How Your Benefits Will Vary.”

For more information on Premier Social Security Consulting’s services and education program please visit Customized Social Security Consulting | PSSC (premiersocialsecurityconsulting.com).

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Have you considered investing in real estate for or in retirement? This week Dave Hall brings on real estate expert Peter Souhleris. As a professional real estate investing agent and educator, Peter Souhleris shares the ins and outs with Dave Hall on how to let your real estate investment work as passive income for you, either as rental properties or through services like Airbnb. Listen in a Dave and Peter discuss the retirement risks and advantages real estate has.

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One of the costliest risks you will face in retirement is long-term care (LTC). Unfortunately, it is one of the most unplanned for risks, and with life expectancy increasing more and more retirees are prone to have a long-term care event. Why is it usually unplanned for? So many assume it won't happen to them.

This week Dave Hall hosts national long-term care expert and the Senior Vice President of Care Planning for FIG Alecia Barnette to discuss how important having coverage for long-term care is. Alecia brings over twenty years of long-term care expertise to the table as she and Dave discuss the underwriting process, tax advantages LTC insurance offers, and the various options for plans that are on the market.

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Have you considered the importance of diversifying your retirement funds? Do you have a plan in place if and when you experience a long-term care event? This week Dave Hall offers you 5 key strategies to help get you to a safer, more secure retirement. In addition to discussing ways to balance your tax-deferred and tax-free buckets, he includes strategies to help you during a long-term care event and maximize your Social Security benefits.

Listen in as Dave Hall can help get you safely to retirement!

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The excitement surrounding retirement is always a great feeling. But with retirement comes aging, and with aging comes difficulty performing daily activities and skills you have relied on your entire life--such as driving. This week join Dave Hall as he discusses the importance of prevention and adaption while aging with Terri Cassidy, owner and founder of Health Promotion Partners. Listen in as she and Dave explore how skills that are second nature get harder the older you get and what can be done now, signs to look for in yourself and loved ones, and the reasons why.

For more information and resources, visit Home | Health Promotion Partners.

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The best retirement strategy and opportunity many CPAs have is contributing to a 401(k). Dave Hall hosts Jeff Edmonds of 401GO this week to discuss how modernizing the 401(k) setup is best for the employee and the employer, especially those of small to midsized businesses. Listen in as Dave and Jeff talk about 401(k) employer setup, employee accessibility, tax deductions, and contributions that will make your retirement planning easier.

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Retirement these days is not as simple as it was fifty years ago. You are prone to more risks than ever before that the past generations didn't have to think about.

And this week Dave Hall provides answers that will make preparation and planning for retirement easier. Backlogged with questions, Dave Hall brings on CR Thelin so your questions about Social Security, longevity, interest rates, and so much more get answered!

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With inflation at a historic high still, many people are worried about their retirement assets since inflation is a silent killer of retirement. In this episode, Dave Hall, your host, talks about inflation risk and how I Bonds might be a good fit for you as a principal-protected asset. Not only will he cover how I Bonds work, but Dave will discuss things to consider before purchasing them and reasons why you should invest in them.

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Do you have a plan for when you leave your business to begin retirement? This week Dave Hall hosts John Brown, owner and founder of BEI Exit Planning Solutions, to discuss the importance of planning your transition out of your business, whether it is selling or bringing on a person or team to take over running it. Dave Hall and John Brown discuss strategies to ensure the success of your business and ease your transition into retirement.

For more information on BEI and exit planning strategies visit https://www.exitplanning.com/.

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Perhaps you want to start a business after retirement, but you do not want to begin the whole business planning process, or you are unable to decide what you want to do. Thinking outside of the box is important when it comes to retirement! This week Dave Hall interviews Marty Greenbaum, Founder of Smart Franchise Investing, to discuss franchising as a retirement opportunity. Listen in as Dave and Marty discuss why franchising may be for you, the opportunity is offers, and how you can get started doing it!

For more information on Smart Franchise Investing and Marty Greenbaum's service, please visit Smart Franchise Investing | Franchise Education, Consulting & Matchmaking

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Travel is the most sought-after thing to do in retirement, especially internationally. This week Dave hosts Pam Saylor, world traveler and author of Braving the World: Adventures in Travel and Retirement. Saylor and her husband retired early and planned a yearlong trip to various countries overseas. Listen in as she and Dave discuss her worldly travels, tips and tricks for planning, medical care, living aboard for a year, and so much more to better prepare yourself for travelling in retirement!

Website: Braving The World book - Adventures in Travel and Retirement | Pam Saylor
Amazon Link for Book: Braving the World: Adventures in Travel and Retirement: Saylor, Pam, Hanley, Victoria: 9781736073117: Amazon.com: Books

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Aging, even if done gracefully, comes with many vulnerabilities. Especially when it comes to elder abuse and financial exploitation. This week Dave Hall discusses financial decision-making capacity and financial exploitation with national expert Dr. Peter Lichtenberg. Listen in as Dave and Dr. Lichtenberg cover the signs of financial exploitation, how cognitive decline makes seniors even more susceptible, and how to address financial abuse before it is too late.

For more great information and resources visit Older Adult Nest Egg.

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Medicare is a complex program that is a baseline within retirement planning. This week Dave Hall hosts Chuck Chaput, CCO of MedicareCompareUSA, to discuss how focusing on your healthcare needs is the most important aspect of your Medicare Plan. Medicare Advantage Plans are becoming a commodity for retirees, increasing 8% since 2019. Listen in as Dave and Chuck talk about why these Advantage Plans are becoming more popular, what they offer as additional benefits to Part A and Part B, and how they enhance your healthcare needs in retirement.

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The Secure Act 2.0 has been a hot topic for some time now--having appeared in headlines and finally passing in the House back in March. While the Senate has yet to vote on it, the proposed changes the Secure Act 2.0 offers will influence your retirement planning and savings greatly. Dive in with Dave Hall this week as he discusses 10 of the 35 parts that would impact your retirement.

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How comfortable are you discussing finances with your parents? Your parents or even your grandparents may be hesitant to talk their finances with you because for so long it has been a taboo topic. But being warm, gentle, and compassionate about the conversation may make it easier. More often than not, you may have to take over your parents' finances as they age. This week Dave Hall interviews Cameron Huddleston, author of Mom, Dad, We Need to Talk. As they discuss how to have these conversations with your parents, learn how preparing to take over their finances will better prepare you and your finances for when you get older.

For more resources and information visit Cameron's website: Cameron Huddleston - Make the Most of Your Money

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This week Dave Hall and members of the Retirement Risk Advisors team attended the AICPA Engage 2022 Conference in Las Vegas. Listen in as Dave interviews CPAs on their retirement preparedness and security. CPAs just like you share their insights on Social Security, Medicare, longevity, and tips and tricks to help you prepare better now for your post-career years.

Interviewees:
Roger White, TX
Nicole Davis, GA
Sara Stollberger, NY
Andrew Waud, CA

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Aside from financial health, physical, mental, and social health are important components to retirement. This week Dave Hall interviews Grandmapreneur and inventor Connie Inukai about entrepreneurship, discussing how staying curious in retirement can lead to great opportunities such as social events, friendships, and business ideas. Who knew keeping yourself active in retirement could lead to a great chance to better your financial health, too!

For more on Connie Inuaki's inventions and story, visit www.grandmapreneur.com.

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What do you want from your retirement? Do you want to start a business? Go back to school? Retirement should be a time where you take care of yourself, maybe redefine or rediscover yourself. This is especially true when you have spent decades as a CPA. This week Dave Hall hosts Mechelle Barras, founder of MB Consulting to discuss the importance of how giving your retirement meaning can be lifesaving.

For more information on Mechelle Barras' services and podcast, visit MB Consulting (mechellebarras.com).
Instagram: mechelle_barras
LinkedIn: https://www.linkedin.com/in/mechellebarras

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Have you considered cryptocurrency as an option for your retirement investments? This week Dave Hall brings on cryptocurrency expert and founder of WTF! Crypto Training Thomas Walsh to discuss how crypto could help diversify your retirement assets. Listen in as they cover the crypto cycles, types, the risks associated, and how you can reduce them to better your retirement.

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Statistics illustrate that 68% of American retirees fear they will run out of money during retirement. Reportedly, over 50% actually do run out of money. As the elephant in the room, running out of money in retirement is rarely talked about until too late. In this episode Dave Hall discusses the reasons why this happens with Retirement Risk Advisors' very own, CR Thelin--today's inflation crisis, our current bear market, the ongoing Covid-19 pandemic, and much more

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The retirement planning landscape has more than meets the eye. Retirement readiness takes time, education, and thought-out preparedness for all the what ifs you will face as a CPA. This week join Dave Hall and Shawn Sigler, Senior Vice President of Financial Independence Group, as they discuss the cutting-edge tools and software FIG has to offer to enhance your retirement readiness and evaluate your risk tolerance.

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At the base of all retirement planning is two things: Social Security and Medicare. Changes to these programs impact everyone now and especially in retirement. This week Dave Hall discusses the provisions that may be implemented to Medicare as soon as this year under the Consolidated Appropriations Act. These changes will directly impact the initial and special enrollment periods and coverage for immunosuppressive drugs of kidney transplant patients and renal dialysis care.

Support the show (https://medicarecompareusa.com/retirementriskadvisors/)

In late 2021 the Social Security 2100: A Sacred Trust Act was introduced to Congress by Rep. John B. Larson of Connecticut. If this act was placed into law your retirement and Social Security would be directly and immediately impacted. In this episode, Dave Hall breaks down the proposed reforms and discusses how they may impact you in your working and retirement years.

Support the show (https://medicarecompareusa.com/retirementriskadvisors/)

When it comes to your health you regularly see your health care providers to maintain your wellbeing and health goals. When it comes to your financial wellbeing, budgeting and planning are key ingredients to make the most of your hard-earned money. Since retirement funding is mostly on the individual today, budgeting now to save for retirement is not futuristic thinking.

This week Dave discusses budgeting with the Budget Queen herself. Diving into the psychology of money habits, Dave and Clarissa weigh the importance of budgeting for your needs and wants today so you can save now for your desired tomorrow without any rocky territory. Get yourself on the right footing in your working years so the golden years are just that: golden.

Support the show (https://medicarecompareusa.com/retirementriskadvisors/)

Should you decide to keep your CPA status active after you retire, online education is the next best way to get your yearly CPE credits. Even now, as you are working towards retirement, not having to attend a conference or bring a presenter to the firm is ideal. Join Dave Hall this week as he talks with Scott Zarret, the founder and president of CPAacademy, an online CPE-credit educational platform. Dave and Scott compare and contrast the market and importance of offering an online platform for CPE credits as continued education for CPAs during the working and even retired years.

Support the show (https://medicarecompareusa.com/retirementriskadvisors/)

Ever consider how side gigs could influence your retirement? Working passive income while retirement planning could help you invest more, save more, and have a more comfortable retirement. This week Dave Hall hosts the infamous Financial Panther to discuss side hustles, the impact of working them before and during retirement, and even discusses the various types of F.I.R.E (financial independence, retire early).

For the Financial Panther's Ultimate List of Side Gigs discussed in this week's podcast, click here.

Support the show (https://medicarecompareusa.com/retirementriskadvisors/)

Strategically optimizing products and policies to work for you, not against you, in retirement is an important step in planning. Having been around for 30 years, premium finance is a method to optimize your life insurance policy, using leverage to create a higher policy value.
This week Dave Hall analyzes the benefits and qualifications of premium finance with Tim Kelly and Joe Sgori, partners of Strategic Alliance Wealth Group.

Support the show (https://medicarecompareusa.com/retirementriskadvisors/)

Today, retirement is mostly entirely up to an individual. Pensions are not commonplace anymore, and Social Security is only a base to retirement income needs these days. Emphasizing the importance of planning, this week Dave Hall shares a personal story about how preparedness made the aftermath of Hurricane Maria while living in Puerto Rico easier. He also discusses tips and tricks to consider during your working years to better plan for the risks you will face in retirement.

Support the show (https://medicarecompareusa.com/retirementriskadvisors/)

What are the best options for retirement when you are self-employed? This week Dave Hall discusses a top strategy for self-directed retirement plans with Nashional Self-Directed's founder and CEO, Whitney Nash. They break the benefits and tax-advantages down a Solo 401(k) provides for a retirement funded by a self-employed person.

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Understanding behavioral finance helps grasp the why someone makes certain wants for their retirement known. When you understand how decisions are driven by human emotion, biases, and cognitive function, you build better relationships with your clients and yourself financially for retirement. In this episode, Dave Hall discusses with Saundra Davis, the founder of Sage Financial Solutions, the impact and benefits of understanding behaviors behind financial decisions.

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With stock market volatility teetering, it is important to look at the factors going into the market. Further, it is important to review the historic market crashes and corrections we have had. Doing so allows us to have insight into the unpredictability of the market--insight that allows us to prepare and protect retirement assets. This week, Dave Hall analyzes the past, present, and future of the stock market, what it means for your retirement, and how you can protect your retirement from the next market crash.

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Is there a way to provide lifetime income AND reduce risk?

Today, living well into your late 80s or even early 90s is the norm for retirees. A blessing, a long life means you get to enjoy more years out of the workforce. A risk multiplier, this longevity means you have to supplement income for 25-40 years after you leave the workforce.

In this episode, Dave Hall and Tom Hegna discuss how longevity is a risk multiplier to factors such as inflation, taxes, and medical costs. But with longevity, the biggest fear is running out of funds, especially as more folks live to 100. They provide various ways to overcome this but focus on how annuities fill two needs with one deed.

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As the base for most retirements, Social Security (SS) is an important factor of retirement planning to discuss. One major risk is the situation around filling and enrolling for Social Security. Are you filling independently, do you have a spouse with a larger age gap? Do you have kids that may qualify for SS? Depending on your situation, you may be losing money if you enroll too early or even too late. In this week’s episode your host Dave Hall discusses this with Marc Kiner, a CPA, and his business partner Jim Blair of Premier Social Security Consulting.

For more information please visit https://www.premiersocialsecurityconsulting.com/ and https://www.ssa.gov/.

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In an era where pension plans are largely not offered, retirement is entirely left up to employees. This means planning, getting involved in the market, and being susceptible to a multitude of risks—especially market volatility. Join Dave Hall with Joel Wymer, a Retirement Risk certified advisor, as they examine past market volatility trends and delve into approaches and strategies to tackle the current volatility with long-term thinking to protect your retirement wealth management.

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Medicare coverage is not a walk in the park the moment you become 65. A huge factor is the proper understanding of its Parts and the products offered. To provide the best insight of this, Dave Hall interviews Alex Sieler, the National Sales Director of Medicare Compare USA. Listen in as they cover the importance of Medicare education and policies to prevent your retirement from facing greater risk.

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A new year brings a lot forth that will affect your retirement. On this podcast, Dave Hall discusses the impact 2021 will have on retirement planning in 2022. He further discusses changes being made to Social Security and how inflation has impacted medical costs. For more information on these changes, 2022 challenges and how they will impact your retirement, check out our webinar “Evolving Retirement Law: The Challenges, The Changes, and Your Choices.”

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The old paradigm for retirement has become obsolete, and the importance of tackling a new approach is imminent for your retirement—especially if you want it to last the 20-40 years most are retired. On this episode, Dave interviews Brian Britt on why the new paradigm for retirement planning is best. Brian Britt has over 25+ years of experience in the industry and gives his firsthand stories on how he has witnessed the change and new retirement planning paradigm work.

Brian Britt is a financial consultant who has been in the practice of helping individuals and institutions protect and grow their wealth since 1983. He became a licensed investment advisor at the age of 19 while pursuing a bachelor’s degree in economics from the College of Business at Saint John’s University in New York. Upon graduating, Brian spent much of the next 25 years in senior financial advisory positions at Fortune 500 companies such as Lehman Brothers, Paine Webber, and Merrill Lynch.

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It is a new year and time for new goals. We hope that includes your retirement. It will require planning and effort. We are here to share the top 10 risks facing your retirement.

At the end of the day our goal is to try to help get you safely through retirement. So today we are talking about the risks people don't think about. It really comes down to the things we don't know become a problem. Enjoy this episode.

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