Dolphin Financial Radio: Recent Episodes
Dan Wendol
Have fun planning your retirement! This is a fun and conversational show with a focus on retirement planning issues. Dan Wendol and his co-host Tony keep a down-to-earth tone as they address topics like retirement income, healthcare costs, investing, pensions, retirement lifestyles, insurance, Social Security and many other financial topics. Dan Wendol shares his tips and experience as a fiduciary retirement planner and owner of a Registered Investment Advisor. His personal belief is that a successful retirement is about increasing income and decreasing stress. Sometimes special guests will join in to discuss the big-picture aspects of preparing for, and living in, retirement. For more about Dan Wendol and his work, to see videos, or learn more about this show, visit www.dolphinfinancialgroup.com.
In May of 2025, the House passed the "One Big, Beautiful, Tax Bill." It now goes to the Senate for approval. There are many provisions in this Bill that impact pre-retirees or those already in retirement the most.
Do spouses that retire at different times spend more or less in retirement? Does the decision of when each spouse retires really impact their level of spending? The study results we review in this show might surprise you.
Social Security spousal benefits allow for the lower earning spouse to potentially get an increase in benefits based on their spouse's work history. This holds true for certain DIVORCED spouses. In this show we talk about the rules and calculations around claiming Social Security benefits based on your ex-spouse.
Social Security spousal benefits allow for the lower earning spouse to potentially get an increase in benefits based on their spouse's work history. In this show we talk about the rules and calculations around claiming Social Security benefits based on your spouse.
Which is better for retirement - a 401k or a Pension. We review the pros and cons of each retirement plan and decide which is preferrable for retirement planning. At age 62, would you rather have $1 million in a 401k or $75,000 per year in lifetime income?
Are there people, including those close to retirement, that want to see a stock market correction? In this show we talk about the six types of people that enjoy Bear Markets and why you may want to be one of them.
Retiring is a difficult task for many. If you happen to time retirement during a bear market, it may make things even more difficult. What should people do to alleviate the pressures associated with retiring as the market is going down?
Where has it been getting more expensive to retire? Is Florida the "best" place to retire, or has it become the most expensive. The answer depends on who you ask. In this show we review three recent studies that show how expensive it has become to retire in the Sunshine State and elsewhere.
Social Security is a big government program in the crosshairs of the Department of Government Efficiency (DOGE). Changes to the SSA in 2025 have been happening at a relatively face past (for a government agency). Are the rumors about how these changes are hurting the overall program and services true?
More people are helping their adult children financially according to a 2025 survey. With the average support to an adult child of over $1,400 per month, this can become quite a drag on retirement savings. In this show we talk about the emotional and often difficult choices involved in this situation.
When you are moving your retirement funds from one account to another, it's important to follow the IRS rules, particularly if you are doing an indirect rollover. Be sure you are aware of the 60-Day rule to avoid taxes and a potential penalty when you least want it!
Social Security payments are projected to fall short in the near future. How might this impact retirees and should claiming strategies adjust based on this potential income decrease?
There has been proposals to eliminate taxation of Social Security income. What once was tax free, may become tax free again! Does this potential change impact filing strategies? Should you adjust when you claim based on this potential tax change?
Not all assets are taxed the same. In retirement, taxes can be your biggest expense. This is why properly structuring your assets into different tax buckets can be a very smart financial planning strategy. In this show we talk about three tax buckets (Taxable, Tax Deferred, Tax Free) and debate which one is the "best" for retirees.
Replacing your income when you retire is an important task. There are many different strategies to generate the income you need to live after your paycheck ends. One seemingly simple strategy is using Retirement Income Buckets. Is the "Bucket Approach" to retirement income as simple as is often made out to be?
Many people will show more income in order to completely "fill" a tax bracket. This strategy can lead to lower taxes in the long run and is often part of Roth Conversions. However, there are 3 important and often overlooked considerations when implementing this strategy.
One particular tax penalty that new retirees are surprised by has to do with paying estimated taxes. It's known as the "Underpayment of Estimated Tax by Individuals Penalty." This penalty is for those that fail to pay estimated quarterly taxes, which is often something overlooked by new retirees. Learn how to avoid this sneaky tax penalty.
Now that the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) are no longer part of Social Security, what's next? How and when will I get an increase? What actions should I take now to increase my benefit? What's the latest from SSA?
Prescription drug prices have been getting quite expensive over the years, particularly for those on Medicare and fixed incomes. However, the government is here to help! Has government price negotiations worked and what can we expect going forward?
The highest monthly Social Security check in 2025 will be $5,108. How does one qualify to get that much? In this show we'll explain the three qualifications a person must have in order to get the maximum amount from Social Security in 2025.
Prescription drug costs on Medicare can be quite expensive. However, the government has set a limit on the out of pocket expenses on Medicare Part D (Prescription Drug) plans. The new $2,000 limit applies to the deductible, the copays, and the coinsurance. But, will this actually reduce the overall cost for prescription drug plans?
Investment portfolios can get out of balance based on market performance. Many people will rebalance their holdings to get back in line with their original risk levels. However, retirees face a unique set of challenges when it comes to rebalancing. Do retirees even need to rebalance?
If you need health insurance before Medicare (typically age 65), it can be outrageously expensive. In this show we explore the costs for plans in 2025. We also explain how to be able to afford these plans that can easily cost over $20,000 per year.
The "Santa Claus Rally" is a term used to describe an increase in the stock market around the Christmas holiday. Based on a term coined in 1972, this market phenomenon has historical data to back it up. Yet, is the Santa Claus Rally a real thing, and if so, should you factor it into your financial plans?
Research is showing that nearly 6 in 10 people retire earlier than they planned. Why are they doing this? Is this a case of great savings, poor planning, or unexpected circumstances? In this show, we explore some of the data from a Nov. 2024 study.
Research is proving that being grateful can improve your finances and increase your longevity. In this show we discuss some research around how practicing gratitude may be a "simple" way to improve your chances of having a successful retirement.
The Social Security Fairness Act of 2023 just passed House and was sent to the Senate. It looks like this big change to Social Security will pass the Senate and land on President Biden's desk for signature. This law would eliminate the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP), which impacts millions of Americans. H.R.82: https://www.congress.gov/bill/118th-congress/house-bill/82
Now that Donald Trump has been elected for a second term, the tax landscape is more clear. In this show we discuss the changes (or lack thereof) to the tax situation expected during the next four years of a Trump presidency.
Many people feel that Presidential elections result in drastic changes in the economy and personal finances. Does this mean you should adjust your major financial plans, such as retirement, based on election outcomes? In this show we talk about the adjustments one might consider during a Presidential election.
Toward the end of 2024, there has been a lot of talk about an upcoming "Lost Decade" for the US Stock market. This is where the stock market performs relatively poorly for a full ten year period, much like the decade from 2000-2010 in which the S&P 500 index was negative. What strategies should those approaching retirement consider under these circumstances?
If you can afford to pay for your grandchild's or child's college education, should you do it? In this show we talk about the reasons why paying for college might not be the "best" decision financially and socially/emotionally.
Has it become cheaper to rent than to buy and own a home in retirement? In this show we discuss some of recent conditions that are suggesting renting might actually be cheaper. We also discuss the biggest factor in this decision - home equity.
Natural disasters can be financially devastating. In this show we discuss the tax relief and breaks available to you. Hopefully you only have to deal with financial losses associated with a natural disaster. If so, document everything and know the rules.
Delaying Social Security can lead to more money later, but what if you have to spend down your IRA to do so? In this show we do the math with specific numbers for an average retiree to see if delaying Social Security makes sense.
Should you delay Social Security if it requires you to deplete your IRA? Does it matter if you are single or married? In this show we discuss how spending down IRA assets early in retirement in order to get a higher Social Security income later can make sense in many situations. Being single does make a difference.
The rise in financial scams and fraud is disheartening and many retirees are failing victim to these crimes. To help prevent fraud, a simple tactic to to freeze your credit. In this show we talk about the how and why of implementing a credit freeze.
There are many ads on TV and radio to diversify your retirement funds by buying Gold/Silver in your IRA. The pitch to avoid stock market volatility and a potential U.S. currency collapse is appealing. Does this strategy makes sense and is everything as great as the spokespeople are suggesting.
According to a recent study, online gambling has had a negative impact on retirement savings. Gambling has always been a part of society, what is different now? Isn't investing in the stock market a form of gambling anyway? In this show we discuss how gambling in all forms has recently changed the way people are saving for retirement.
Social Security needs to be fixed and someone needs to step up and be a leader to make the changes needed. Who is going to be that leader? Will it be Trump or Harris? Or, perhaps it will be Biden as he finishes his term as President. Tune in as we discuss these possibilities.
According to Fidelity, retirement accounts are the highest they have been since 2021. In fact, Gen X has higher balances than the Boomers! This may seem like a great thing, which it is...but watch out! Those approaching retirement with large retirement accounts should watch out for a huge pitfall known as "sequence risk."
One particular group of retirees runs low on money at a much higher rate than others In this show we talk about who this group is and how the particular issues they face are not too different from those faced by most retirees. Listen and learn from others to help avoid a top retirement fear.
According to a recent research paper, those with Medicare Supplements use the services more often and cost more to the overall system. However, generally speaking, Supplement users are healthier. In this show we discuss the research as to why this is the case, and then Dan gives his practical reasons that aren't mentioned in the research.
The IRS finally published guidance in 2024 on the details that have been missing regarding Inherited IRAs. The SECURE Act of 2019 changed the rules for Inherited IRAs. The distributions can no longer be stretched over the beneficiary's lifetime in many cases. This became known as the new 10 year rule. However, there was significant confusion about this new rule, which left many uncertain on what to do regarding Required Minimum Distributions (RMDs) when inheriting an Individual Retirement Account (IRA).
Many in retirement like to keep a decent chunk of change in their checking & savings accounts at the bank. Others like to have physical cash on hand. How much is too much or too little? Is there a proper amount to keep handy for financial emergencies in retirement?
According to a recent study, nearly a quarter (24%) of 55-year-olds expect to need financial support from family in retirement . Is Gen X going to have to move in to live with their parents or kids in order to be able to retire?
A recent survey says Americans believe they need $1.46 million to retire. In this show we discuss how ridiculous this number is and why people shouldn't be caught up in such a sensational (and potentially depressing) headline number.
Since 2020, more people are expecting to stop working full time by they time they reach age 62. The data we explore suggests a significant increase of the number of people who expect to retire sooner than those asked in years past. In this show we discuss what might be causing this move to plan for "early" retirement.
What happened to the simple retirement plans from a generation ago? Retiring in the 1960s meant a pension and a relatively stress free financial life. Today we are creating complex retirement plans and financial stress is high. In this show, we talk about how it is possible to go back to "the good old days" of retirement and question why we don't do so.
Many people are surprised when they get an Income Related Monthly Adjustment Amount (IRMAA) letter from Medicare demanding higher payment for Part B and Part D (prescription drugs). In this show we talk about the main ways people get surprised by IRMAA and how to appeal if you get such a surcharge.
Many of the reasons people claim Social Security before their full retirement age are flawed. In this show we scrutinize the most common reasons why people are claiming early. From "breakeven" analysis, to getting better returns elsewhere, to Social Security going bankrupt, the justifications are questionable.
CD rates haven't been this high since almost 20 years ago. Is now the time to lock up these relatively high interest rates? If so, how long should a person lock in a CD rate - 1 year, 2 years, 5 years, 10 years? What about 100 years!? Does the decision change if you are close to or already in retirement?
Can you take a Required Minimum Distribution, pay the taxes, and convert that amount into an IRA? Does the 5-Year Rule apply to Roth conversions and does a new 5-year period start each time you make a conversion? In this show we answer both of these very common (and misunderstood) questions.
Claiming Social Security early is often the WRONG financial strategy. But what if that is what your "financial advisor" has recommended? New research suggests that this advice may actually not be in YOUR best interests, but in the best interest of the advisor. Listen in as we discuss the bias that some financial people have when it comes to guiding people on Social Security.
Want your beneficiaries to avoid paying big legal fees and/or major taxes to the IRS? Then you need to avoid some very common estate planning mistakes. In this show we discuss a real-life example of how a simple oversight can lead to major lawyer fees and taxes that could have been avoided.
What happens if your existing long term care policy price does up? Do you pay the price increase, or adjust the benefits to keep the policy affordable? In this show we review a real-life example of a client who is facing a potential 189% price increase for his existing LTC policy.
A successful retirement is about increasing income and reducing stress. In this show we review the top stresses faced in retirement and how to decrease or eliminate them.
In Part Three of this three part series, we explore how a needy family member can be one of the top threats to a successful retirement plan. This third "punch to the mouth" is often difficult to deal with because it's family! What do you do if you have an aging parent or adult child that needs financial assistance?
In Part Two of this three part series, we explore how a health crisis is one of the top threats to a successful retirement plan.This second "punch to the mouth" is often difficult to deal with because not many people truly want to address or talk about it.In each part of this series, we will identify the retirement planning threat, provide examples, and offer solutions.
In Part One of this three part series, we explore how market crashes are one of the top threats to a successful retirement plan.This first "punch to the mouth" is perhaps the most widely known and easiest to prevent. In each part of this series, we will identify the retirement planning threat, provide examples, and offer solutions. Tune in to learn how to dodge the punches that come your way in retirement.
Losing a spouse can be difficult emotionally, but also financially. On top of the financial turmoil comes TAXES. In this show we discuss the specific tax problems that widow(er)s face when they lose a loved one. If you want to prepare for a potential tax situation or have recently lost a spouse, watch this show.
If your spouse filed for Social Security before their full retirement age, your benefit may be impacted. This is known as the he Social Security "Widow(er)'s Limit." (Retirement Insurance Benefit Limit or RIB-LIM). In this show we talk about how survivors are impacted when their spouse (or ex-spouse) claimed benefits early.
Retirees are being targeted every day by scammers trying to steal their hard earned retirement money. The rise in online scams and financial theft is staggering as more and more people fall victim to these highly convincing tactics. In this show we talk about the types of scams and the red flags to watch out for.
78% of nearly retired people failed a basic quiz on Social Security. In this show we review each of the 13 questions and explain the answers. Make sure you know these answers - don't be one of the many people who don't understand basic Social Security rules and details!
If you have millions in the bank, should you continue to work at age 80? In this show we talk about Eric Idle of Monty Python fame and how he is still working at age 80 to meet his financial obligations.
When you lose a loved one, there are often many loose ends to deal with. Many often wish their loved one left certain pieces of information to make life a bit easier. Having a Will and final wishes is useful, but what about the less obvious things like account numbers, passwords, or where the gold was buried? In this show we talk about the things that are useful to write down before you die.
Believe it or not, some people are forced to retire. Not everyone wants to retire, and many more are working into their 70s. Yet, in some cases the U.S. law forces you to call it quits. In this show we discuss where is this still applicable and whether or not people should be forced to retire.
The IRS has released a new method to ward off tax ID theft. There has been a growing problem of criminals filing tax refunds of unsuspecting citizens and pocketing the money. In the past, the IRS instituted a system to prevent repeat offenses. However, now the IRS is offering that same level of defense to all.
Dan & Tony head to Nashville, TN to talk country music and financial lessons. In this show we discuss quotes from music icon Dolly Parton. Will you have to keep working 9 to 5 forever?
Some States still tax Social Security and other retirement income. What happens if you retire in a State that doesn't tax retirement income or pensions? Does it make sense to move in retirement for a more favorable tax situation? What can we learn about taxes from the Shohei Ohtani blockbuster baseball contract with the LA Dodgers?
Where do the most centenarians live and what are they doing that lets them live so long? In this show we discuss the concept of Blue Zones, which reveals the areas of the globe where people are living long and health lives. What doe these people have in common and how should you change your financial plans to be more like them?
In which state will one million dollars last the longest for a 65 year old? According to recent analysis from GoBankingRates, it could be gone in 10 years or 22 years, depending on where you live! Listen in as we reveal where money will last the longest and also explain why this type of analysis really misses the boat when it comes to retirement planning.
Investing can be tricky in general. How does a decreasing interest rate environment impact investing? Where should you be putting your money when interest rates are falling?
Classic Christmas holiday movies are fun to watch and offer powerful life lessons. Are any of these lessons financial or retirement focused? In this show we explore the financial lessons learned from Christmas Vacation, A Christmas Story, It's a Wonderful Life, and The Grinch Who Stole Christmas.
What is a lifetime income rider? (also known as an LIBR, GMIB, GLWB, GMWB) These added features on variable and indexed annuities can be confusing and often misunderstood. In this show we discuss these riders and why you may want to avoid them.
Required Minimum Distributions (RMDs). What are they, and what are the new rules surrounding these IRS restrictions on retirement savings? In this show we go through an extensive FAQ on the rules and changes to this unpopular part of the tax code.
Planning on retiring soon? In this show we discuss the key decisions and actions someone must take if they are planning to retire within the next five years. If you want to retire successfully, you should start planning now by listening to this show.
If you have a government pension, you may not get 100% of your Social Security check. In this show we discuss how the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) provisions reduce the benefits of certain government employees.
The highest monthly Social Security check in 2024 will be $4,873. How does one qualify to get that much? In this show we'll explain how and also discuss some other important changes to the numbers around Social Security that take effect in 2024.
There are many financial decisions and actions retirees must take. One in particular can go a long way in keeping harmony in the family- making sure assets pass to the next generation without drama. In this show we discuss this often overlooked, yet simple action you can take to avoid future problems.
Annuities have a bad reputation and are often portrayed in a negative light. In this show, a financial planner talks about how he sold an annuity to his Mom and why he feels that certain annuities might be appropriate for some people. What type of annuity did he sell to his Mom and does he regret it?
Which city is best suited for retirement? In this show we review a recent ranking of the top 182 cities in the US and discuss the results. Spoiler alert! Tampa is at the top. What criteria is important to consider when moving for retirement?
Many struggle to switch from saving to spending when they retire. It may seem easy, but it is often a mental challenge. We discuss the five mental barriers to successfully switching from accumulation to decumulation. Do you think you will spend without any problem? Think again.
When interest rates drop, many know to refinance their debts. Yet, when interest rates increase, many don't know that it is time to refinance their income. Shouldn't your income go up when interest rates rise? In this show we discuss this important topic for retirees.
The fear of running out of money is one of the biggest fears retirees face. Yet, it should NOT be. In this show we talk about why this fear of running out is overblown.
Caring for an aging parent can be costly, time consuming, and emotionally taxing. In this show, Dan & Tony share their personal experiences with caring for their aging parents along with tips and lessons learned.
How do I claim Social Security against my spouse? Can I claim against an ex-spouse's Social Security? How much will I get? What are the rules about spousal benefits? In this show we answer all the questions you may have about claiming Social Security against a spouse.
Can I get my ex-spouse's Social Security? How much will I get? How long do I have to be married? What if I remarry? Will my ex-spouse know I am claiming against them? What if my ex-spouse is dead? In this show we answer all the questions you may have about claiming Social Security based on an ex-spouse.
What does it take to be considered at the top 1% of earners in your state? Does earning top money for your efforts ultimately lead to an earlier, less stressful, or "better" retirement?
Should you take Social Security early because interest rates are relatively high? Why bother delaying Social Security when you can take the money now and get a better return? In this show, we explore the idea that delaying Social Security may NOT make sense when interest rates are going up.
According to a 2023 survey, Americans believe they will need $1.27 million to retire comfortably. In this show we discuss whether or not this is a realistic number. We also discuss how one should begin to determine how much they will need for retirement. Learn how you may be approaching this age-old question from the wrong direction.
Income is critical to retirement planning. A recent survey suggests that retirees don't know how to create retirement income plans. Taking Social Security as soon as possible isn't necessarily the best way to build an income plan. In this show we discuss the recent survey results around income during retirement.
Major health events are usually associated with negative financial outcomes. The cost of care, loss of income, and general expenses of health scare usually have a negative impact. However, this inverse relationship may not always be the case. In fact, sometimes a negative health event can actually lead to financial improvements!
Are you considering selling your home or buying a new one? Maybe you are planning to move to Florida for retirement. Did you know that real estate agents aren't legally obligated to act the same across the country? For instance, in Florida, a real estate agent doesn't have to act as a Fiduciary and can represent both sides of a home transaction. In this show we talk about how this might be a huge problem.
If you write a Will with your final wishes before you die, do you avoid probate court? No. What if you have two separate Wills written? You'll have even more drama. Join us as we break down the legal battles surrounding the estate of the late great Aretha Franklin.
If you inherit an IRA, there are special rules regarding when you have to withdraw funds from that account. The "new" 10 year rule starting in 2020 is still a bit wishy-washy. In this show we discuss a recent IRS update about these Required Minimum Distributions (RMDs).
Everyone knows that the big lotteries like Powerball are a losing bet. However, there is a major reason why it might make sense for pre-retirees to buy a ticket. The best part is you don't have to win the lottery to gain from playing the game!
Short term interest rates are higher than they have been in decades. Should retirees or those close to retirement be locking in some of these rates now? Why not capitalize on these high fixed rates using CDs, MYGA, T-bills, Money Markets, etc.?
One of the early leaders of the F.I.R.E (Financial Independence Retire Early) movement, known as the Financial Samurai, recently announced he is going back to work. In this show we analyze his announcement and reasoning behind this dramatic shift in his plans. The lessons learned apply to all people who are retiring at any age.
To retire successfully, you'll have to answer many questions and make important financial decisions. In this show we review the TOP 5 questions you should be able to answer if you want to coast into retirement. Don't try to retire without knowing how you would answer these questions.
Many people retire and lose health insurance coverage offered by their employer. They then often join Medicare so there is no gap in coverage. What if you don't qualify for Medicare and leave employer coverage? What if you or your spouse aren't yet 65 and lose group health insurance? In this show, we discuss how to fill this health insurance gap between retirement and age 65.
You've saved your entire life, working from a young age, and finally retire. You seem to have enough in savings to carry you through retirement, but something isn't right. You've hit a roadblock and simply can't get comfortable financially. In this show we discuss a very common challenge faced by those who saved a lot for retirement.
The Health Savings Account (HSA) is the most underrated financial option available for retirement savers. In this show we review what an HSA is and why opening and funding one should be your top priority.
Many people believe they don't have enough money to retire. If that's true, then what do you do? Do you really have to work until you die? In this show we talk about the options you have if you find yourself short on retirement funds. Be proactive and make retirement a reality - listen to this show if you think you'll have to work until you die!
Sometimes the best financial move is wait to claim Social Security. In this show we go over the scenarios and situations where delaying claiming your Social Security benefit makes financial sense. Should you delay your Social Security?
Sometimes the best financial move is to claim Social Security as soon as possible. It often makes sense to delay Social Security, but in this show we go over the scenarios and situations where claiming at 62 or as early as possible makes financial sense. Should you claim Social Security ASAP?
Should you invest in the stock market when you are close to retirement? Why bother with risky assets when you can get fixed rates that are higher than they've been in a long while? In this show we discuss the idea of eliminating stock market risk when you retire.
Should you pay off your mortgage before retiring? Maybe. For many, being debt free in retirement is the ultimate goal. However, carrying a mortgage into retirement isn't necessarily a bad thing. In this show we discuss the idea of maintaining a mortgage during retirement and why, for some people, keeping the mortgage makes financial sense.
A successful retirement is about increasing income and decreasing stress. In this show we identify the common trait seen in those who are experiencing a successful retirement. Focus on this, and your odds of success will go up!
Social Security is taxable for some people. If that is the case, how do you go about paying those taxes? In this show we show you exactly what form to complete in order to have the IRS withhold taxes from your Social Security benefit. We also talk about how taxes play a major role in when you claim Social Security.
Not all income is treated equally by the IRS. Capital gains, particularly Long-Term gains, are taxed more favorably in many cases. In this show we discuss scenarios in which capital gains are taxed at 0%. Retirees in particular will want to learn this tax strategy.
Does Social Security pay out a lump sum death benefit? Yes, they do. In this show we talk about how much the benefit is, who gets it, and the history behind this one-time payment from SSA.
There is a way to file your taxes online, using software, for free. Through the IRS Free File program, you can complete an online tax return using software that guides you step-by step at no cost. In this show we show you how and explain the qualifications for the free version.
Social Security is running out of money and will struggle to keep paying 100% of the benefits by roughly 2033. Raising the full retirement age up from 67 is one solution to this financial problem. The question is, will U.S. citizens stand for this benefit cut? Will Americans take to the streets as in France in early 2023, where a similar pension age increase is being debated?
When considering retirement, one of the first questions you must ask is - how long will I be retired? In this show we discuss the research on retirement length and changes since the 1960s through 2050!
Did poor performance crush 401k plans in 2022? How did the average investor hold up? What sort of adjustments were made and are retirement plans now off track?
Early retirement is a goal for many people. However, some interesting research has come out suggesting that it may actually be harmful to your mental health. In this show we discuss why you may want to reconsider retiring early until you have a plan to deal with this potential problem.
Do you understand how retirement income is taxed? How do taxes impact Social Security income, Roth conversions, capital gains, and Medicare premiums? In this show we discuss four key tax concepts that every retiree should understand.
Do you really need to know where your retirement is heading in order to have a comfortable retirement? In this show we talk about how planning out your finances in retirement is so much easier if you have a clear grasp on where you are trying to go or what you are trying to accomplish.
Do you take advice from a former professional NFL player? In this show we watch and comment on an interview with Chad Ochocinco, a former wide receiver. His commentary about financial matters is profound and something everyone might benefit from hearing.
How long will you live? That's the really tough question that those planning retirement need to address. In this show we discuss why this is not only difficult to answer, but also extremely important to try to answer.
The rule of thumb that you should reduce your risk exposure as you get older may be wrong. In this show, we discuss why the opposite may be true. As you age, a larger percentage of your assets may be exposed to a higher level of risk. This may actually be the result of a sound financial strategy.
The age at which Required Minimum Distributions (RMDs) must begin has been raised again. This time the age has been increased from 72 to 73 and eventually to age 75. In this show we detail the rule changes, including the penalties associated with missing this important financial requirement.
The 8.7% cost of living increase in Social Security for 2023 was the highest seen in decades. Yet, is it enough? According to the Senior Citizens League it isn't enough. In this show we talk about inflation and whether or not Social Security increases are enough to cover real life living expenses.
A Lady Bird Deed, also known as an enhanced life estate, is a legal document you can use to pass your real estate asset to beneficiaries after your death. The Lady Bird deed is an option in a select few states, including Florida, and may be a simple and effective way to avoid probate or the need for the creation of a trust. Listen in as we explore this unique enhanced planning tool.
How much does your housing costs impact when you can retire? Those living in more expensive areas are theoretically earning more income. Does that allow them to retire sooner? In this show we discuss the research about how housing relates to income, social security timing, and willingness to move for retirement.
A trust is a legal document that is used to organize, protect, and help to distribute your assets when you pass away. Trusts are often considered a tool used by wealthy people, but they can useful in many different situations. In this show we discuss some major reasons you might need a trust and discuss the the value versus the cost of creating one.
Qualified Charitable Distributions, or QCDs, are a specific giving strategy that allows people to donate directly from an IRA. This can be used to satisfy a Required Minimum Distribution (RMD) without paying taxes on the distribution! In this show we'll discuss the IRS rules of QCDs and RMDs and discuss why some people might consider using this tax and giving strategy.
Families troubles sometimes begin when a loved one is lost and leaves assets behind. Disagreements and legal battles can arise from seemingly small amounts of money or possessions. Properly titling and owning assets can go a long way to help prevent these issues. In this show we discuss the different forms of ownership and ways to avoid potentially expensive, time-consuming, and public legal battles.
Has the cost for Thanksgiving dinner really gone up that much in 2022? In this show we discuss the real cost of the holiday meal and how much is has increased in the past year. We also share our personal family's addition to the meal and a way to save money this year.
When are you going to retire? For many, the time is now and they just don't know it. In this show we discuss the three top reasons why you should walk away from your job and start retirement today. For certain situations, there is no time like the present!
Many Americans say they have stopped or reduced retirement savings due to inflation. Some have even said they have had to dip into their retirement savings because of rising inflation. Yet, rising inflation suggests you will need more in the future, which means you need to save more now. Why is there a disconnect?
There have been record number of annuities sold in the 3rd quarter of 2022 according to LIMRA. Fixed deferred and indexed annuities are seeing major growth year over year. In this show we discuss the main reason for these annuity purchases. The recent market volatility, desire for principal protection, and rising interest rates have created the perfect annuity storm.
The SECURE Act of 2019 changed the rules for Inherited IRAs. The distributions can no longer be stretched over the beneficiary's lifetime in many cases. This became known as the new 10 year rule. However, there was significant confusion about this new rule, which left many uncertain on what to do. The IRS recently published a notice on this very topic to help clear the confusion and address those that made incorrect distributions in 2020 and 2021.
Cost-of-living-adjustments (COLAs) are a big part of Social Security, particularly when we are at 40 year high increases in 2022! However, what if you haven't claimed Social Security benefits yet? Do you have to be collecting benefits in order to receive the COLA? In this show we address the concern people have regarding delaying benefits and missing out on COLAs.
The Roth IRA and Roth 401k are considered by many financial advisors as one of the best tools for retirement savings. However, a recent article from a well respected financial researcher and policy maker suggests otherwise. Find out why she feels the Roth options should be eliminated and whether or not we at Dolphin Financial Group agree.
According to some research, young people should NOT save for retirement. In fact, retirement saving should only happen during your middle age years. In this show we talk about how this might actually be a terrible idea.
Is a high deductible health plan (HDHP) something you should consider for you and/or your family? In this show we talk about what a HDHP is and why it may make sense for you. The main reason to consider using a HDHP is to gain access to the powerful features of a Health Savings Account (HSA).
Do single women have a financial advantage or disadvantage during retirement compared to their married counterparts. In this show we talk about a major challenge that single women face - lower retirement confidence. Why do single women have less financial confidence in retirement than married women and what can they do to improve their situation
More and more homes are becoming multigenerational. Young adults are moving back in with their parents (known as Boomerangs) and adults are moving in with their aging parents. The main reason for this living arrangement is financial. We discuss the findings from a recent study about this and talk about our real-life experiences and strategies with multigenerational living.
Does it make financial sense to delay Social Security if you need to withdraw from your retirement to cover expenses while you wait? On paper, delaying Social Security until age 70 makes financial sense for many. However, does it really benefit you to withdraw early from your retirement funds while you delay filing from Social Security from ages 62 to 70? Listen in as we tackle this complex problem.
Social Security is a very misunderstood financial tool. People are not sure how Social Security works, how benefits are determined, how to claim off a spouse, or simply when to claim. In this show we reference a recent study about how little Americans know about this massive program. We also share the top three concepts about Social Security that everyone should know and understand.
There are many financial risks people face in retirement. Some risks are more likely to come into play than others. In this show, we talk about five major risks retirees face. We also review some recent research that compares what people subjectively think about the risk to the objective reality of the same risk. In other words, do people overestimate or underestimate the risks they face in retirement?
Many people consider moving outside of the US to retire in order to reduce their cost of living. What about staying in the US territory of Puerto Rico? In this show we discuss the tax advantages to living in Puerto Rico. We discuss how income is taxed, including Social Security. Does it make financial sense to call Puerto Rico home during your retirement years?
The year 2022 has been quite volatile in the financial markets. Has this changed our attitude about retirement? In this show we explore a recent survey about what savers and employers are feeling when it comes to retirement. You might be surprised what people want as part of their retirement plans.
How can you retire when the financial markets are in turmoil? Should you retire during such a volatile time? In this show we discuss three key considerations or tips for people looking to retire when the financial markets are more volatile than usual.
In the year 2033 there may be a 24% shortfall in Social Security payments. How can we fix this potential situation? Either we increase taxes, reduce benefits, or combination of both. In this show we get into very specific proposals for how to get Social Security back on track.
If you had money to invest right now, where should you consider putting it? With current turmoil and uncertainty, it seems like a difficult question to answer. In this show we discuss the many options on where to invest your money. The top suggestion in the end may really surprise you...
When you retire, which account should you pull from and when? Conventional wisdom suggest first withdrawing from taxable accounts, followed by IRAs, and then lastly from Roth accounts. Is this conventional wisdom correct? Is there a strategic way to withdraw your retirement income in order to maximize income and minimize taxes? Are there other considerations?
When your IRA stock portfolio is down in value, does it make sense to covert a portion to a Roth? Since the value is lower, you can convert a higher portion to a Roth for the same tax liability. However, this may not be the best approach to deciding on a Roth conversion. In this show we discuss converting to a Roth in a Bear market.
The Federal Reserve is raising rates at a fast pace to fight inflation. This has created a lot of volatility in the stock/bond markets. These Fed rate changes ultimately lead to interest rate increases for mortgages and other debts. Yet, these increases might actually be a good thing, particularly for retirees.
In his book, "The Four Phases of Retirement" Dr. Riley Moynes outlines four distinct phases people go through after retiring. In this show, we discuss these four phases and the financial aspects of each phase. Are some phases more expensive than others?
Inflation is high. There is no doubt that people are concerned about rising inflation and prices. In fact, according to a recent BMO survey, many are delaying retirement because of inflation! In this show we discuss if people should delay retirement because of inflation.
Rising interest rates impact many things such as mortgages rates, bond prices, and the overall economy. What impact do rising rates have on annuities? Do annuities pay more as interest rates go up? Should I buy an annuity in a rising interest rate environment? What is a fixed annuity or a MYGA (Multi-Year Guarantee Annuity)? We answer all of these questions in this show about interest rates and annuities.
People like to know where they stand, particularly when it comes to their bank accounts. Do I have enough to retire? How much money should I have saved by age 55 or 60? This info is definitely interesting to know, but does it provide any value? In this show we talk about what the average retirement savings are at various ages and discuss why this information may not be as useful as you think.
Inflation impacts everyone and seemingly every financial plan. Does your retirement plan factor inflation? In this show we talk about how inflation has a major impact on those in retirement. We also discuss specific strategies and tips for dealing with inflation when you are retired.
How much income is needed to be happy? In the past, a major study indicated that $75,000 was the magic number. After that, additional income doesn't move the happiness needle all that much. However, a more recent study suggests otherwise. In this show we talk about this idea of how much income is enough income.
We all know the financial cost of Long Term Care is high. Not only are communities and facilities expensive, but so is insurance, or even home health assistance. The costs go well beyond the numbers and have an emotional and physical strain on the caregiver as well. In this show, we talk about these issues with Linda Burhans, a caregiver expert. She share experiences, tips, and strategies to offset the hidden costs of long term care.
Who wants to be debt free? As people get closer to retirement, the main (and usually only) debt is the home mortgage. Should you pay off your mortgage as you entre retirement? Maybe so maybe not. In this show we discuss the reasons for and against paying off your mortgage.
What are the top four reasons people stress about retirement? Better yet, what are the solutions to remove this stress? Many people are unnecessarily stressed about retirement. Listen in to learn how to relieve the anxiety that you may be facing.
Many say that Florida is a really low tax state. Some even say Florida has NO taxes. Is any of this true? In this show, we review the 2022 Tax Burden by State report put out by WalletHub. We discuss where Florida falls on the list and how state income tax isn't the only tax people face.
Whether they realize it or not, most people own bonds in their retirement portfolio. This is a traditional investment strategy that may be due for a change. Do you own bonds, and if so, why? Are bonds an appropriate asset to hold in a retirement portfolio? Listen in as we discuss whether or not bonds are something people should own in today's market environment.
What is one piece of financial advise you'd give your younger self if you could? Florida has just joined a handful of other states that now require Financial Literacy in high school in order to get a diploma. In this show we discuss the new requirements and if they are where they need to be to help these youngsters retire years from now.
Does stock market volatility matter when you are retired? If you are pulling income from those investments, you bet it does! In this show we talk about how generating income from retirement assets can be subjected to Dollar Cost Ravaging, also known as Sequence Risk. If you are worried about running out of money in retirement, be sure to listen to this show and apply the lessons learned to your situation.
The rule of thumb is that retirees spend 80% of their pre-retirement income in retirement. This rule of thumb is wrong. There are many factors that go into how much people spend during retirement and spending doesn't stay constant. In this show we talk about how and when retirees spend.
What can we learn from Aesop's Fable, "The Miller, His Son, & the Ass"? In this show we tell the story and how it relates to financial plans. Sometimes when you try to please everyone, you please no one.
Many people have expectations to continue working until 65 or later. In reality, that doesn't happen as much as planned. The median age of retirement is 62, despite other intentions. Why are people retiring earlier than expect? Should you plan for an early retirement, even if you intend to work later?
The costs of Long Term Care are once again going up? Can we blame Covid or just general trends? In this show we talk numbers and discuss the costs of home healthcare, assisted living, and nursing home facilities. We reference the "2021 Genworth Cost of Care Survey" and give our take on this financial issue.
Each year in April, income taxes are due. Some people wait until the last minute, others file as soon as possible. In this show we discuss the reasons why it makes sense to file your taxes early. If you are a procrastinator when it comes to taxes, this show might actually change your behavior.
Social Security income is taxable. It wasn't designed that way, but in 1983 and again in 1993, Congress starting taxing more and more of your Social Security checks. In this show we talk about how it is taxed and how to minimize that tax. We also address the idea that this can be considered double taxation.
What are Series I savings bonds? Is it true they are paying over 7% in early 2022? How do they work and should I consider them for myself? In this show we discuss these savings bonds, how they adjust for inflation, and how they play into retirement savings.
Am I eligible for Social Security benefits based on an ex-spouse if I am currently remarried? The answer is "maybe." In this show we talk about how you can get a Survivor Benefit if an ex-spouse dies or a Spousal Benefit based on an ex-spouse, even if you are currently remarried.
At what age are you planning to retire? What is holding you back from retirement? In this podcast we discuss these questions while referencing a recent survey on the topic. Spoiler alert - age 60 is still a highly desirable retirement age.
What are six financial moves you should consider making at the beginning of the year? In this show, Dan, Chris, & Tony talk about their top suggested financial moves to work on now. From retirement contributions, insurance reviews, and taxes, listen in to learn how to improve your financial life.
What financial trends will dominate 2022? In this show we talk about the top five financial trends we expect will occur in 2022. Will from inflation to housing to cryptocurrency, we give you our best guess.
At the end of 2020, we made some predictions on financial trends for 2021. Were we right or wrong? In this show we hold Dan Wendol accountable for his predictions for the year. And be sure to listen to the end of the show as Tony joins in the holiday spirit to share his opinion on the top 5 new album releases for 2021
Would you have been better off investing money in Legos or stocks, bonds, or gold from 1987 to 2015? The answer might surprise you. Tune in as we discuss a recent study on how investing in toys actually led to better returns over time.
What is the highest monthly Social Security benefit one may receive? In this show we answer that question as well as how your benefit is calculated. Will you receive the highest possible Social Security benefit?
There are new Social Security statements available! The redesigned statements show information in a new format. What used to be four pages has been condensed into two pages that are easier to comprehend. In this show we review these changes and talk about Social Security in general.
Can a realtor, a business advisor, or a financial advisor NOT act in your best interest? Unfortunately, the answer is sometimes yes. In this show we explore a recent real estate deal gone sour. A man sold his property for $4 million and then less than 24 hours later it was resold for $7 million. What can we learn from this and how do you know if your advisor is on your side of the table or not?
Are taxes going up because of inflation!? While many parts of the tax code are adjusted to account for inflation, some parts are not. That means higher taxes, in a way, as people experience "tax bracket creep." In this show we discuss several taxes that actually increase as inflation increases including Social Security, home sales, and state and local taxes.
The cost of Medicare is going up over 14% in 2022. Social Security checks are going up, but by only 5.9%. Why are healthcare costs going up so much? How do retirees deal with these increases? We discuss the details and strategies in this show.
There are many stories of people turning into millionaires seemingly overnight through investments in cryptocurrencies. In this show we discuss a story of one man turning $8,000 into $1 million! Is it something you can do?
What's it like getting your financial advice and retirement planning guidance from a "Big Bank" or Wirehouse"? In this show we talk with a former in-house bank financial adviser who recently joined Dolphin Financial Group. We ask him questions about what differences to expect about the advice given by a financial representative of a big bank as opposed from a small boutique financial planning firm. Is there a difference and does it really matter?
When the stock market crashes, many people "panic sell." They will let emotions take over and "freak out." Is this a bad thing? In this show we discuss who is more likely to panic sell and why it might not be such a bad thing after all.
The 2022 Social Security cost-of-living adjustment (COLA) was declared to be 5.9%. It is the biggest annual increase since 1982! In this show we discuss how this is determined, why it happened, and why many people won't actually see the full 5.9% increase in their Social Security checks.
How do you leave money with strings attached? Many families have a particular "Black Sheep" or difficult member that doesn't quite fit the mold or has an issue. Common issues might be alcohol or substance abuse, disliked spouses, or lack of money management skills. In this show we talk with an estate planning attorney on how to handle these types of situations. Can you rule from the grave and make sure your assets are distributed the way you want?
Heads you win $200, Tails you lose $100. Do you take that bet? Some people are so risk averse, they may not take that bet. Does this behavior get worse in retirement? Are people in retirement less likely to make a bet, even with a highly favorable expected outcome?
Isn't retirement something everyone strives for? It's our "golden years" of relaxation and carefree living, right? This isn't always the case. In this show we discuss five major reasons why retirement isn't all it's cracked up to be. Listen in to hear about the top drawbacks of retiring and learn how to avoid this negativity when you decide to join the retirement lifestyle.
If given a lump sum to invest over ten years, which strategy would lead to higher returns: Investing the entire lump sum at once or investing the lump sum evenly over the first year. Investing over time is also known as Dollar Cost Averaging and it's very popular. However, is it the better option when there is a long-term time horizon? We'll answer that question in this podcast.
Where do people get their retirement income from? Are people relying on Social Security, an IRA, or maybe a pension? In this show we discuss the sources of retirement income by generation along with ideas on where that income should come from. If you are thinking about retirement and aren't sure where the money will come from, listen in!
According to the recent August 2021 update from Social Security, the combined Trust Fund is expected to be depleted by 2034. This is one year earlier than estimated last year. This means that in 2034, only 78% of benefits will be payable to Social Security beneficiaries. What does this mean, why is it happening, and what should you do about it?
How much does Medicare cost? Isn't it free? If I have to pay for Part A or B, who do I make the check out to? What is an IRMAA? How do I pay for Medicare? In this show we talk about the cost to the Medicare beneficiary. We discuss the price for each part of Medicare and the ways to pay for it. If you are new to Medicare and are wondering how the pricing works, be sure to listen in.
In this show we talk about when people are claiming Social Security Benefits and why they do so. The math suggests delaying, yet people don't. Be sure to listen in to make sure you aren't messing up this important lifetime decision.
In this show we talk about how people are fairing with retirement planning. Many people know WHAT they need to do, but are they doing it? We discuss the results from the 21st Annual Transamerica Retirement Survey and compare the results to our last show about the four keys to a satisfying retirement. Are people setting themselves up to be satisfied in retirement?
Some recent research points to key factors that may be the leading reasons why people have a satisfying retirement. In this show we review and discuss this research from the Employee Benefit Research Institute’s Retirement Security Research Center (even more exciting than it sounds)! What should you do now to assist in having a satisfying retirement?
For many retirees, much of their net worth is tied up in their home as equity. Should they consider a Reverse Mortgage to tap into that equity? What are the pros and cons of this financial instrument? In this show we bring on a Reverse Mortgage expert to discuss the current situation of reverse mortgages.
What do retirees regret the most. After working with retirees for over a decade, Dan Wendol shares his opinion on what those in retirement seem to regret the most. It's not necessarily a financial regret and it might surprise you.
Can money buy happiness? In this show we talk about the ways you can spend money in retirement to make yourself happier. The discussion revolves around the book "Happy Money: The Science of Happier Spending" by Elizabeth Dunn and Michael Norton.
Ever wonder what to write in a co-worker's retirement card? Do you want a funny quote to say at a retirement party? In this show we share some of our favorite retirement quotes and one-liners.
Certificates of Deposit (CDs) have been a popular options for savers over the decades. With current CD rates so low, are they still a viable option for retirement? In this show we talk about the current CD situation and how they fit into retirement planning today.
Private pensions are a thing of the past, but that doesn't mean you can't create your own version. Unless you work for a government agency, odds are you don't have access to a traditional defined benefit plan. In this show we discuss some ways to create the guaranteed income that previous generations relied upon for retirement.
Does it make sense to own precious metals as an investment? How do you own gold, silver, platinum, etc.? In this show we discuss the idea of owning precious metals both on paper and physically. We discuss the pros and cons of using these alternative investments.
In May of 2021, the Biden administration asked for a 9.7% increase in the Social Security Administration budget. This is the money used to run the program. In this show we discuss what this money is used for and whether or not the Social Security Administration is being run effectively.
If someone dies and leaves you their retirement account (IRA), what happens? What are your options? In this show we discuss the new rules (2020) that revolve around inheriting an IRA from a spouse, a parent, or a stranger. Tune in to make sure you aren't penalized for mishandling an inherited IRA.
What happens to your Social Security if your spouse dies? Do you get to keep your own or your deceased spouse's? What about if an ex-spouse dies? What if you got remarried? In this show we discuss the details of Social Security Survivor Benefits. Learn everything you need to know about getting the most out of this situation.
Home equity is often a large part of a retiree's net worth. How can you use this home equity as part of a retirement plan? In this show we talk about four different ways to tap into your home equity as a means to augment retirement assets and/or income. Does it make sense to view your home as a retirement asset?
In May of 2021 the House Ways & Means Committee Passed "The Securing A Strong Retirement Act," also known as the SECURE Act 2.0. In this show we discuss ten of the major parts of this proposed legislation that have the potential to greatly impact retirement in America.
Inflation is the current talk of the town. Many financial pundits are suggesting it is time to start adjusting investment strategies to counter inflation. Even Warren Buffett sounded off on the topic during his 2021 shareholders meeting. In this show we discuss inflation, whether we are experiencing it, and what to do about it when it comes to your finances.
There are 7 unique money personality types according to psychology expert Ken Honda. In this show we review the different personalities and discuss how each type impacts retirement planning and living.
Sometimes parents or grandparents want to give their young family members financial gifts. In this show we talk about the various types of financial gifts you can give children along with the pros and cons of each.
Can you claim Social Security, yet continue working? Yes you can, but then you are subject to the "Social Security Earnings Test." In this show we discuss the details of the Earnings Test, how to avoid having Social Security benefits withheld, what "earnings" really are, and all the other important details of working while claiming Social Security.
Reducing your Adjusted Gross Income (AGI) can have many benefits including reducing taxes and increasing benefits. However, sometimes the year passes and you still want to lower AGI for the previous year. In this show we discuss some ways to retroactively reduce your AGI for the previous year.
Can you save too much for retirement? What about saving too much during retirement? Many people talk about saving more and more for retirement, but sometimes you might actually save too much. In this show we talk about scenarios where people are saving too much for retirement. We also discuss how some retirees are keeping too much in savings and not spending enough!
There are major changes to the health insurance marketplace as a result of the passage of the American Rescue Plan (ARP) in March 2021. The health insurance premium subsidies have increased and more people can qualify. In this show we discuss the changes and how it can result in thousands of dollars in savings for many Americans.
What should retirees do with their stimulus checks? People in retirement are getting more stimulus checks as part of the government plans to combat the global pandemic. In this show we talk about the priorities that retirees should consider when it comes to what to do with this money. We list 6 different options for the checks in order of importance.
Buffered Notes are a financial product that offers some downside protection from market losses. However, they don't come without a catch. In this show we discuss these particular structured notes, the pros and cons, as well as whether or not these products make sense for people to use as part of their financial plan.
One of the biggest surprise expenses during retirement is dental. The costs of keeping your teeth in good shape can be astronomical. During retirement, many people see bills above $10,000 for dental work. In this show we discuss the options for dealing with dental costs during retirement.
Retirement planning is critical for those who want to retire with peace of mind. However, sometimes expenses occur that are unexpected, even for the best planners. In this show we discuss five expenses that seem to catch retirees by surprise. Knowing about these potential expenses in advance can really help you avoid the problems associated with a financial surprise. Listen in!
A Health Savings Account (HSA) is a very powerful financial tool. Many people use them while working to build up a tax-free pool of money for health expenses. However, are HSAs useful in retirement? What happens to an HSA if you retire and enroll in Social Security? Does an HSA still work if you are on Medicare? Can you keep contributing if your spouse works? Is an HSA always tax free? In this show we talk about Health Savings Accounts and how they work during retirement.
What has been the impact of the global pandemic on the long-term care industry. Are the few insurance companies that still offer Long Term Care insurance feeling the pain of such travesty in our nursing homes or are they benefiting in some twisted way? In this show we explore the current and future of long term care as it relates to Covid 19.
Social Security is a program that has been under intense financial strain over the decades. Something needs to change before it goes bankrupt. In this show we talk about the changes Joe Biden mentioned while running for President. While President Biden be able to solve the Social Security problem we all face?
Can I get my ex-spouse's Social Security? How much will I get? How long do I have to be married? Can I get Social Security if I remarry? Will my ex know I'm getting their Social Security? In this show we answer all the questions you might have about claiming Social Security based on an ex-spouse.
What is crytocurrency? What is Bitcoin? Should I own it or is it a scam? How does it work? There are many questions surrounding cryptocurrency. The discussions are heating up as the price of Bitcoin rises higher and higher. We revisit our last conversation about Bitcoin in 2019 and bring on our resident crypto follower - Jonah Faulkner to shed some light on this complex topic.
Living in the United States can be expensive. Retiring on a fixed income can be near impossible. In this show we discuss the idea of retiring in Mexico. We explore a recent article about a woman that moved from California to Mexico and is living in retirement on roughly $1,000 per month.
Okay, so the new year is finally here! What should you do now? In this episode we talk about what you need to be doing with your finances in 2021 to help have a better financial future.
We finish off 2020 with a fun episode about money trivia. Join us as we discuss interesting facts about paper money, coins, lotto, net worth, and other financial topics.
How will the U.S. Senate runoff in Georgia impact the stock market? Will it matter if Democrats take control of the Senate? Has the outcome already been baked into the stock market? Listen in as we discuss the potential market reaction to this important election in early 2021.
An Initial Public Offering (IPO) can be an exciting investment. Whenever a popular company offers an IPO, the hype can get overwhelming. But does this make for a good investment? In this show we talk about investing in IPOs, how they work, and whether or not they are worth investing in.
What are the top trends in finance we will see in 2021 and how will they impact retirement? In this show we discuss trends from working at home to cryptocurrency.
For those close to retirement, one of the biggest unknowns is how much money they need to live. To help answer this question, a spending freeze might help. In this show we explain what a spending freeze is and how it helps those approaching retirement.
This show is really about the cost of NOT giving thanks. Dan talks about gratitude and how it can positively affect you and your finances. Not just what you are thankful for, but what you are grateful for.
Is there a way to improve your spending habits without creating a budget? In this show we explore the concept of Intermittent Spending. It's a brand new strategy designed to get people more mindful of their spending and ultimately improve their financial situation.
Everybody wants to earn more on their money. Whether getting a higher interest rate than the current bank rate, or hitting a home run on an investment, the higher the return, the more appealing. However, at some point the risk becomes too much. In this show we will discuss some cases where people chased the higher return and wound up getting hurt in the end.
What happens to the stock market now that the election is over? Will the market go up or down? What does history tell us and does history matter? In today’s show we will discuss the stock market and the effect of elections.
Retirement isn't supposed to be scary, but sometimes it can be. In this show we share five different retirement stories that will make you shiver. If you are up for some frightening tales, listen in. You might even learn through the pain others face in retirement!
According to research, people who aren’t comfortable with their financial situation experience more physical pain than those who feel financially secure. It sounds weird, doesn’t it - people experience physical pain due to a non-physical variable. In today’s show, we will discuss the research findings about this also talk about how you can avoid or reduce this type of physical pain.
In this show we answer these questions: Will Medicare cover the costs of a Covid 19 test? What about if you have to go to the hospital for treatment? Are there any special considerations for those on Medicare Advantage plans?
Today we are going to review the old story known as The Miser And His Gold. This is one of Aesop’s fables and, although it was first told long ago, it still applies today. It’s about a man who buries his gold in a hole in the ground. What could possibly go wrong...?
Losing a spouse can be an extremely difficult experience. The financial issues that arise can make things even worse. In this show, we discuss a subset of these financial issues - taxes. We tackle the tax implications that arise when you lose a spouse.
We all know it's a good idea to put aside money for the future. However, not everyone has the money available right now to save. Additionally, it can be discouraging when the calculations show you how far off your savings rate is compared to where it "needs" to be. In this show we will discuss a strategy that may help those who are feeling hopeless about saving for the future.
What happened to the first round of 2020 stimulus money? Did people spend those $1,200 checks? In this show we discuss what people did with their stimulus money and how it impacts their retirement situation.
Emotions are running high across the country during this global pandemic. You add in a very polarizing presidential election, and now emotions really flare up. The problem is that making decisions while highly emotional may not be a good thing. Emotional decision making often leads to poor decision making. But, that might not always be the case. In today’s show we are going explore how anger, in particular, effects decision making. And you might be surprised that being angry might actually improve your financial decision-making.
With so many people changing jobs or losing employment, the question of what to do with the old 401k arises. Should I roll it into an IRA? While rolling an old 401k into an IRA has some benefits, sometimes the better choice is to roll it into a new 401k or simply leave it where it is. In this show we discuss the pros and cons of moving an old 401k.
One of the major problems of the global pandemic is unemployment. To make matters worse, losing your job also usually results in losing benefits like health insurance. In this show we discuss what your options are if you lose employer sponsored health insurance. We talk about the changes to the laws surrounding COBRA and other considerations.
When people approach retirement, one of their largest assets is usually their primary residence. In fact, there is often a large capital gain realized when they finally sell that home and move away. In this show we discuss how that gain is created and how it is taxed. Dan also shares details on the surprise tax bill that was heading toward his father when he sold the childhood house after over 50 years. Learn the rules and avoid the surprise tax bills.
Indexed Universal Life insurance (IUL) has been gaining popularity over the past decade. It's a type of life insurance that is flexible and often touted as a means to generate wealth and retirement income. In this show Tony oversees a casual debate between two Dolphin Financial Group representatives (Dan and Jonah) as they review the pros and cons of this type of insurance. If you own an IUL or are thinking about purchasing this type of insurance, this show is for you.
if you bought a term life insurance policy that is about to expire, what are your options? What if you have group life insurance through your employer and are about to leave the company? In this show we discuss the options for those that want to keep some level of life insurance coverage. We cover the process of buying something new and also converting your existing policy into something that will last for as long as you do. Listen in as we talk about dealing with expiring term life insurance policies.
What are dividend paying stocks and can you live off the income they produce?
In this show we discuss the concept of dividends from stocks and how they generate income for retirees. We will discuss the pros and cons and explore whether or not this is a realistic retirement income strategy in today's market environment.
What happens if you claim Social Security yet continue to work? What are the rules and penalties associated with simultaneously claiming and working? In this show we discuss the details of what happens to your Social Security benefits if you choose to work. We touch on the earnings limits, age restrictions, payments withheld, and where the money that isn’t given to you actually goes in the end. If you are considering claiming Social Security and maintaining employment, this show is for you.
The global pandemic is changing the way Americans behave. It is also impacting many financially. In this show Dan and Tony reflect on current changes in business and personal behaviors and the subsequent financial effects. Tony even gets into the detail of how is favorite industry (vinyl records) is changing rapidly once again.
The F-Word is back in the limelight of the financial services world. We are talking about the word "Fiduciary." On June 30th, 2020, Regulation Best Interest (BI) is being enforced by the Securities & Exchange Commission (SEC). In this show we discuss what this what this means for the average investor and why there is such an uproar about this new standard that demands financial services professionals to actually act in the best interest of their client. Aren't financial pros already required to act in their clients' best interest?
Most people are familiar with the investment concept of risk vs reward or risk/return. The more risk you take, the greater the return should be. By the same token, the less risk you take, the lower the return should be. So what about risk-free investments? Perhaps you heard the term risk-free investments or risk-free retirement. In this show we are going to explore this concept and discuss what that might look like and if it even exists.
Could it be that your personality characteristics will impact your retirement income regardless of the math behind your financial plans? Are your personality traits more important than the size of your retirement portfolio? In this show we explore the idea that there is more to retirement income than the numbers.
Sometimes a company will offer an early retirement package to employees. This has certainly been the case during the summer of 2020 for industries like airlines. Analyzing these early retirement offers is a high stakes, complex process. In this show we review process for considering an early retirement package.
Laughter is said to be some really good medicine. In this show we try to offer a healthy dose of laughter as we share some funny jokes - retirement and financial related humor of course!
The stock market had one of the fastest plunges from all-time highs starting in February 2020. However, there has been an equally impressive, and quick, bounce. This bounce has happened in the face of economic uncertainty on a global scale. Will it last or is this only a head fake?
In this episode we talk about Warren Buffet's son, Peter, and what he did with his inheritance in 1977. Spoiler alert - he didn't keep in in Berkshire stock. If he did, it would be worth about $200 million today! Perhaps he invested it in something more valuable?
The economic relief bill passed in March of 2020 has increased unemployment benefits by an extra $600 per week. This is has created a situation where many people are making more money unemployed than they would fully employed. In this show we discuss the situation and determine if this is good or bad.
The global pandemic has cause a lot of economic disruption and financial pain. To offset such financial difficulties, many people buy insurance. In today's show we explore if insurance policies are actually helping during this crisis. In particular, we will discuss whether or not health insurance, disability insurance, and business income insurance policies are covering this global pandemic.
Free is a good thing right? Well, as the old saying goes, nothing in life is free. Or is it? In this show we talk about many of the things we are offered for free, but that really do come with a cost. Inspired by the man who drove to 11 Wendy's fast food restaurants to get free chicken nuggets, this show may make you think twice about taking that next thing for "free".
Should retirees have received a stimulus check? Is is going to hurt them in the long run? In this show we talk about the good and the bad of the recent government stimulus. We touch on deflation and inflation and, most importantly, the debt our country has undertaken to save our economy.
Target Date Funds are quite popular within 401(k)'s. The purpose and strategy of these funds makes a lot of sense. However, for people that are close to retirement, these Target Date Funds may be missing the mark. In this show we discuss how these funds may not be designed for those within 10 years, 5 years, or even closer to retirement.
The Coronavirus Aid, Relief, & Economic Security Act (CARES) has some parts that impact our retirement system. In this show we discuss the main implications including changes to RMDs, early withdrawal penalties from IRAs and 401ks, and how taxes are deferred from retirement withdrawals. The big question we answer - is there a way to benefit financially from the CARES Act rule changes?
The global pandemic is not a good situation by any measure, particularly when it relates to finances. However, in today's show we discuss the positive aspects of our situation. In fact, Dan shares how this global crisis might actually provide the opportunity of a lifetime for many people.
Retiring can be a wonderfully exciting time in your life. It can also be difficult and stressful, especially if you retire during an economic crash or a global pandemic. In this show, we will talk about retiring during turmoil. We'll discuss the challenges and strategies of pulling the retirement trigger when the stock market is in bear territory. Don't worry, the answer isn't to delay retirement...at least not for everyone.
A big part of estate planning is taking care of others when you pass away. In this show we talk specifically about different scenarios and issues that may arise when it comes to beneficiaries. Perhaps you are leaving assets to minor children. Maybe you have some restrictions you'd like to establish for adult beneficiaries, particularly those that may not be great at handling money. Join Dan as he discusses these important issues with estate planner Debbie Faulkner.
Men's Health recently released a series of videos with a Men's Wealth theme. They interviewed various celebrities and had them share financial mistakes and lessons. In this show we will discuss the highlights from these interviews and relate them to the average person.
Is saving for retirement a waste of resources? Does it make more financial sense to spend your money on living while you are young and healthy? This might sound strange, but if you run the numbers, for some people this no-savings retirement strategy might be smart.
The recent dramatic stock market decline is definitely unsettling for investors. Is it time to get out of the market? It is time to start buying? In this show we talk about corrections and bear markets along with the recovery times. Listen in if you want an idea on how to handle the emotions that come along with these drastic market moves.
In this show we discuss some recent company failures, loss of pensions, and what employees should do if they are afraid of losing their retirement benefits.
Do I really need any of these documents? What's the bare minimum I can get away with? Do I need a Will if I have a Trust? Do I need to update my Will if I move to Florida? In this show we cover the basics on wills, trusts and estate planning in Florida. Local estate planning attorney, Debbie Faulkner, joins the conversation and fields a bunch of common questions that need answering.
Have you ever been given a hot stock tip? Do you want one? In this show we talk about how to handle a hot stock tip, especially if you are close to retirement. As an extra bonus, Dan will lead off the show with his latest hot stock tip for the listeners.
The traditional retirement income plan is often called a three-legged stool. This is a combination of Social Security, Pensions, and savings. In this show we discuss why the three-legged stool is almost dead and what you can do to revive it.
With the passage of the SECURE Act and the changes to IRA rules, discussion on Roth conversions is heating up. In this show we will talk about why Roth conversions are a hot topic now and also why they do NOT make sense for many people.
In a recent online survey conducted by MagnifyMoney.com, people with investment accounts were asked about any regrets they had. It turns out that 77% did have a regret. In this show we find out what those regrets are and talk about how to avoid them.
The SECURE Act has been signed by the President and new rules will impact your retirement. In particular, the age to begin taking Required Minimum Distributions (RMDs) has been raised from 70.5 to 72. How will this impact your retirement income plans? What changes should be made to benefit from this new rule? We'll discuss RMDs and these recent changes in this show.
It's that time of year to make resolutions and improve your life. In this show we focus on financial resolutions. In particular, we discuss an article Tony found that discusses 14 resolutions that financial planners are recommending. Are they pie-in-the-sky or realistic? Listen in as Dan and Tony give a practical take on these suggested financial resolutions.
Capital gains are a good thing. You made a profit on an investment. However, the IRS wants to tax those gains. In this show we talk about the different types of capital gains and provide specifics on how to pay 0% in taxes. If you have some capital gains that you are thinking about taking, listen to this show first and save some money!
Do you ever feel like you need a guide to help navigate your retirement? Retirement can be scary, but it doesn't have to be! Listen in to learn more about creating a RELIABLE and LONG-TERM retirement and download your COMPLIMENTARY Retirement Income Toolkit.
The student loan situation has reached crisis levels. It has become a 2020 campaign issue. In this show we talk about student loans. We discuss the causes and how to deal with it. And, after some differing opinions, we do provide some tips and strategies in the end. If you are thinking of taking out a student loan, co-signing, or dealing with repayment problems, listen in.
Is Social Security itself a scam? Or have you been contacted by a scam artist claiming to be from Social Security? In this show we will discuss both of these seemingly related topics. We will talk about the newest phone scams surrounding Social Security. We will also discuss the viral emails that describe Social Security as a huge Ponzi Scheme run by the government.
Qualified Charitable Distributions or QCDs are a specific giving strategy that allows people to donate directly from there IRA. This can be used to satisfy a Required Minimum Distribution (RMD). In this show we'll discuss the IRS rules of QCDs and RMDs and discuss why some people might consider using this tax and giving strategy. If you give to charity and want to avoid paying unnecessary taxes, be sure to listen in!
What if on Black Friday you stayed home and spend nothing? Rather than buy the great "deal" on stuff you "need," save your money and spend time with family and friends. We will discuss the concept of a Buy Nothing Day and see if Dan and/or Tony will join in this growing international trend.
Don't spend more than 10% of your income on a new car. That's the advice that we debate in today's show. We'll talk about the financial impact of buying a new car and whether or not paying more than 10% of your income on a car purchase makes sense. Besides the price tag, what other factors go into the cost of a new car?
Who is going to take care of your loved one as they age and can't care for themselves? Will you send them to a nursing facility? Will you personally care for them in your home? What is the cost in dollars and emotions? Join Dan Wendol and his special guest Linda Burhans, a care giver expert, as they share stories and tips from experiences on the costs of caring for their aging parents.
Open enrollment is here for health insurance plans in 2020. Whether you are on Medicare or Affordable Care Act plan (ACA), now is the time to plan for 2020. In this episode we will discuss the changes coming to the Tampa Bay area health insurance markets. Be sure to listen to hear Dan's tip about how a couple can potentially save $18,000 per year!
When you dwell on past effort/money/time spent on something rather than the future value of that thing, you might be falling victim to the Sunk Cost Fallacy. For example - do you stay to finish watching a movie if you know within the first 10 minutes it is absolutely terrible? In this show we explore the Sunk Cost Fallacy and some common situations where it may impact your retirement.
Recently the Social Security Cost of Living Adjustment (COLA) was announced for 2020. In this show we discuss the COLA increase and its impact on retirees. We also touch upon the effects of inflation on retirement and some tips on dealing with inflation and/or a COLA that never seems to be enough.
This show is about money and politics. Lately politics is a very emotional topic and emotions do not mix very well with investing. However, this show doesn't focus on the politic drama surrounding our President, but instead shines the spotlight on certain financial issues this country faces. Special guest, Matt Becker, is running for US congress to represent most of the people in Pinellas County, FL. In keeping with the theme of this podcast, we will discuss retirement and financial topics. Let's get a local business and political leader's take on politics and finance!
Does retiring early lead to a longer life? If you wait too long to retire, will you die sooner? In this episode Dan and Tony address an sensational headline that has been making its way around social media again- Retire at 55 and live to 80; work to until 65 and die at 67. Is this a game changer or fake news?
Taking a break from our usual retirement chat, in this episode we discuss Oktoberfest. We talk about some interesting facts about the festival in Germany and in the U.S. We even share a few tips on saving some money during this massive celebration. Prost!
We know that it is never too late to learn something new, but what about moving back onto a college campus at age 65? There is quite a lot of higher education opportunities for the 55 and older crowd. In this show we explore the why and how of retirees going back to school.
What retirement planning lesson can be learned from the old story about the woman carrying water with a cracked pot? Tune in this week as we use an old tale to discuss the topic of building your retirement income over time.
What happens to my Social Security when: I lose my spouse? I get divorced? My ex-spouse dies? I get remarried? How much will I get? Can I claim against an ex-spouse? We will answer all of these questions and more in this special Social Security podcast focused on common questions. If you are dealing with the loss of a spouse due to death or divorce, you don't want to miss this episode.
We've been in a low interest rate environment for a long while. CDs rates have been low and the Federal Reserve just lowered the benchmark rate recently. So what are those looking for retirement income to do? We'll talk about how to deal with these low rates if you are planning to retire any time soon.
If you planned to retire early (by age 40), which cities would be best to live in? In this show we discuss a recent article which listed "The 6 U.S. Cities Where You Can Retire By Age 40." Spoiler Alert - it's much more difficult than it sounds.
There are decisions that need to be made as you approach retirement. These decisions can make or break retirement dreams. Many of the decisions will revolve around topics you never had to deal with before. It will be new, it can be scary, but you don't need to go in unprepared. In this show we talk about the important decisions that must be made around retirement. SPECIAL GUEST: Richard Lange of Paramount Financial Advisors in Fort Myers.
Do retirees spend more as they age? Do expenses go up in a straight line with inflation? The answer is no. In reality, many retirees actually spend much more early in retirement. In today's show we talk about the reality of early spending in retirement and how it can be done without running out of money. We'll address the battle many new retirees face - Fear of running out of money vs. Fear of missing out on life.
Can I retire with $1 million in savings? Do I need $2 million? Is $5 million the number to reach? In this show, we will answer this common question. How much do you need saved for retirement? How much is enough?
Part 3 of 3: Needy Family Members In Part Two of this three part series, we explore how family members can actually become one of the top threats to a successful retirement plan. This "punch to the mouth" is really "close to home." When an aging parent or an adult child comes to you in a time of need, it is natural to want to help. But what if helping results in a financial drain which collapses your own retirement? Can you say no to family request for financial support? In each part of this series, we will identify the retirement planning threat, provide examples, and offer solutions. Tune in to learn how to dodge the punches that come your way in retirement. For more on this and other podcasts: https://www.dolphinfinancialgroup.com/financial-talk-radio-clearwater-tampa-florida.php
Health Care Costs Destroy Retirement Plans - "Everybody's got a plan until they get punched in the mouth." - Mike Tyson In Part Two of this three part series, we explore how a negative health event is one of the top threats to a successful retirement plan. This "punch to the mouth" is something no one wants to deal with, plan for, or even talk about. The costs are extremely high for a major health problem, a chronic condition, or the need for professional nursing care. Any retirement income plan must factor in these potential expenses. In each part of this series, we will identify the retirement planning threat, provide examples, and offer solutions. Tune in to learn how to dodge the punches that come your way in retirement.
In Part One of this three part series, we explore how market crashes are one of the top threats to a successful retirement plan. In each part of this series, we will identify the retirement planning threat, provide examples, and offer solutions. This first "punch to the mouth" is perhaps the most widely known and easiest to prevent. Tune in to learn how to dodge the punches that come your way in retirement.
Do we make worse financial decisions as we get older? Does knowledge of basic financial concepts decline after age 60? The short answer is "yes." In today's show we will review the results of a study on this issue and explore what people can do about their decline in financial literacy.
Should you use your 401k or IRA money to pay off your debts? Many financial advisers will say "no way!" But, perhaps it isn't a bad solution after all. In this show we discuss the situations in which raiding your retirement funds to pay down your debts makes sense. If you are struggling with debt and want to know what to do, listen in to hear our take.
Everyone knows that healthcare is expensive. But exact pricing still tends to be a mystery, at least up until the point where you get the bill in the mail. Recently President Trump issued an executive order aimed at increasing the transparency of healthcare pricing. Beyond a price list on a hospital website, it seems the President is trying to pull back the curtain on the private deals between hospitals and insurance companies. In today's show we will talk about whether this executive order will help consumers like you and me. To illustrate what's at stake, we are going to analyze my recent healthcare bills. In addition, we are going to play a game in which Tony tries to guess the cost of the healthcare services I just used. Spoiler alert - the costs are going to seem outrageous.
Successful retirement is about increasing income and decreasing stress. Are retirees stressed? What stresses will those entering retirement face? In this episode we discuss the new and challenging stresses that retirement brings about. We'll talk about not only financial stress, but also about the stress brought about by health issues, social changes, and the experience of retiring itself. What's the best way to reduce your stress as you begin retirement? Tune in to find out.
More and more people are working in retirement. Is that what they want? Is that what you want? Do you have to? Is there any way to avoid it? In this episode Dan explores this topic and goes over why this is important to you and how planning can help.
Which is better - a 401(k) plan or a Pension plan? As the traditional pension plans (defined benefit) have quickly been replaced by the 401(k) plans (defined contribution), we have seen more people struggling with retirement. Could it be that pensions are actually better than 401(k) plans? Is the guaranteed income from a pension a better option than the flexibility of a lump sum from a 401(k)? Join us as we discuss these option in detail and determine which is better - perhaps the answer is both should be used!?
"Sell in May and go away" - this is the old adage about the stock market. Does it make sense? The historical numbers suggest that the market returns during November through April drastically outperform the returns between May and October. Does this mean you should adapt the strategy of selling your stocks in May and buying them back on Halloween? Tune in to find out!
The Baby Boomers are at the age where a huge wave are retiring each day. As this continues, it begs the question - what will happen to their assets? Will Boomers follow the the trend which suggest moving out of the stock market as you get older? Will this mean more are selling their stocks each day to raise spending money? Will this large demographic push the US Stock market into a recession? Join us as we explore the validity of this theory and what you can do about it.
Stock market corrections and crashes are a natural part of the investing process. However, what about the people who actually hope for such volatility and downside? In this show we explore the types of people who want to see the stock market go down. We will discuss the motivation and strategies people have for cheering market corrections. Is hoping for a market correction a bad thing or a good thing?
Time for some fun! Have you ever learned a financial lesson from a song you heard on the radio? Well, tune in as we listen to some classic songs and discuss the important financial lessons embedded in the songs.
We'll cover songs by: The Rolling Stones Dire Straits The Beatles ABBA Pink Floyd Ludacris and others....
So bring your dance shoes, paper, and pencil for an exciting episode of Dolphin Financial Radio
According to the 2019 annual report from the board of trustees overseeing Social Security, under current assumptions, the reserves will be depleted in 2034. What is happening? How can we fix this? What should you do about your Social Security strategy? Listen in!
That's quite the headline. We've talked about the money troubles of lottery winners before, but this one is current and it's a doozy of a story. Dan looks at what happened and the financial lessons that we can learn to help improve our own financial lives and retirement savings.
In this episode we discuss the Congressional Budget Office finding that federal employees have a 17% higher wage/benefit package than their private sector counterparts.
The health benefits of intermittent fasting are pushing more people to adapt this lifestyle. Besides the health benefits, are there any financial benefits? In this episode we discuss how intermittent fasting can improve your financial well-being in several ways.
Money is a leading cause of divorce. In this show we discuss the ways money might impact a marriage or relationship and explore tips on how to communicate with a spouse about money.
Tax refunds are down this year. Does that mean the Trump tax law changes are hurting Americans? Is getting a refund a good thing? We explore the details of what is happening this first year of tax returns under the new rules.
To say Florida is a popular place to retire is an understatement. What do you need to know about retirement in Florida? It 's not just about pink flamingos on the lawn! Whether you live here now or are planning on moving to Florida, you'll want to listen to this episode for some tips, strategies and important information to make your retirement and relocation a success.
In this episode Dan talks about the LTC crises in America, and the costs of long term care insurance. He also discusses your options to plan or cover these costs.
There's a popular social media story about a man who posted his plans for living at a Hotel instead of senior living and nursing homes. Dan talks about the feasibility of this concept and even living on a cruise ship instead of paying the high cost of retirement homes. We also talk about other out of the box ideas and strategies for retirement.
Retirement looks different for everyone and you also need to be prepared for it to change as you go. In this episode Dan explores things you can to to prepare for the punch that you are not expecting in retirement.
We've all heard the phrase "time is money," and in this episode Dan talks about how to best use your time and resources.
Is debt in retirement bad? Is it best to retire with no debt or is there such a thing as good debt?
Dan talks about the expense of children and how it can affect your retirement savings, and what to do to protect your retirement savings if you have children (he has 3 that he wouldn't give up for the world).
What does RMD stand for? How can it make or break your retirement? Dan talks about this and gives tips and strategies to help you to navigate the road of retirement income.
In this episode Dan talks about going from risky to passive investing, going over some helpful tips from the late, great Jack Bogle of Vanguard.
This show was recorded live in Las Vegas! We talk about the stock market, gambling and weather or not there is a difference, and what that means to you.
Cord cutting is a popular phenomenon right now and Dan brings in a special guest to talk about canceling cable and what it means financially. Some price saving tips and more!
Is it possible to be too frugal? To save too much? In this episode Dan talks about retiring early and what some people go through to make it happen. We address the pros and cons of early retirement.
In this episode we talk about what you need to know about the new tax laws and what's important for year-end tax planning.
Today Dan talks about how your car buying habits can change your retirement. Important tips and a great discussion that you won't want to miss!
Most people invest in stocks and they invest for the long-haul, but what happens as you get older or run into situations where you need a much shorter time period? In this episode Dan talks about helpful suggestions and strategies for short-term investments.
How do you know you have enough to retire? Great question and in this episode we talk about solutions and options.
Health Insurance costs are going up. You need a strategy for regular insurance or Medicare to deal with all of the changes and rising costs. In this episode Dan goes over some strategies to help you deal with Health Care in Retirement.
You've probably heard financial advice telling you to save money by cutting back or eliminating those coffee runs... Dan has a different take and some helpful advice. Listen to this episode and keep drinking your Latte's.
Dan gets out the crystal ball...Just kidding! But we do talk about where we've been and what the experts are saying.
The good, the bad and the ugly when it comes to life insurance. What you can do with your existing policy and other things you need to know are discussed on this weeks show.
In this episode Dan tackles the hot and controversial topic of Bitcoin and crypto-currencies.
Are annuities good or bad? You hear a lot of extreme views on this topic and Dan Wendol takes a look at the facts and what you need to know about Annuities.
There are many strategies and a whole lot of advice out there about how to manage and grow your finances. What is the most popular? What is the biggest? Is it right for you? Dan Wendol digs into this topic on todays show to help you navigate these financial waters.
On the TV talent show America's Got Talent they say the winner gets 1 million dollars. That's impressive! But wait! Dan Wendol read the fine print and show disclaimers and has some interesting information. Is it really a million dollars? How far will that go? Listen in to this weeks show to find out more!
They say you can't time the market...Who are "they" and are they correct? Dan Wendol has an answer that may surprise you! Listen to this episode to find out more.
Things are changing fast in the world of health care. Health insurance and costs have been a big problem. In this episode Dan talks about ways to help you stay on top of it and keep costs down.
In this episode we talk about the addictive pop culture phenomena Fortnite. This video game is everywhere played by almost everyone between the ages of 7 and 21. But what does it mean to you? Should you be concerned? Dan talks about what is going on.
Where are your retirement funds coming from? More and more people are having to make important life-changing decisions about their retirement funds. In this show Dan breaks down what you need to do to make the right decision...take the buyout or take the retirement pension. A lot of personal factors will determine what is best for you.
How will you cover long-term care and major health needs in retirement? Is Long-Term Care insurance worth it? Dan digs into this topic and talks about the issues and the options available to you that you may not know about.
On the last episode Dan talked about why we should take Social Security early, now he's saying we should delay? Listen in to find out what he's talking about.
When should you take Social Security? In this show Dan talks about the reasons you may want to take it earlier rather than later and goes over the pros and cons.
Speaking of Independence Day... Our founding fathers had some great things to say about finances. There are many lessons to be learned and of course host Dan Wendol tells us all about them and how to apply these lessons to help our own financial situations!
Dan and Tony discuss the top tips they have covered in previous shows in 2018. Topics included those such as what is a fiduciary, social security tips, the new tax laws that went into effect, and much more.
Wait a minute! That can't be right...Retirees need MORE risk? You have to listen to this episode to find out why this is so important for you to understand.
How is it that the S&P outperforms investors? In this show Dan talks about why you may be underperforming as an investor and has a number of helpful tips
How can you protect your saving and investments from inflation? Dan talks about strategies to do just that on this episode.
Listen in and have some fun as Dan asks Tony some trivia questions relating to finances and learn some things that can help you!
People are living longer and longer. That's a good thing, right? However, it means you'll need better retirement planning and more savings to make it last through your retirement. Dan talks about how to deal with this on this week's show.
Listen in as Dan shares his own personal horror story of health care cost and health insurance, and find out how to avoid making mistakes that can cost you.
Why are people falling behind with retirement savings? Dan talks about why and what you can do about it.