Are You Retirement Ready?: Recent Episodes
Mark LaTessa
Join the team at National Retirement Group for helpful conversations about money, retirement, and planning for your financial future. From retirement to income, insurance, long term care, and many other topics, this is the show for you if you or a loved one are planning your financial future and need some helpful guidance along the way.
The National Retirement Group, based in St. Petersburg, Florida, wants to help protect your financial future so you can live confidently. Mark LaTessa is your host and is joined each episode by Tony Competelli and Blake Zall.
Contact the show with any of your questions at 888-401-0107 or by email at info@nationalretirementgroup.org or on the website, nationalretirementgroup.com.
Research shows the average American changes jobs 12.3 times before retirement, meaning many Americans have old 401(k) plans that aren’t properly allocated for retirement. When you leave your employer, what options do you have when it comes to your 401(k)? You can roll it over, keep it, consolidate it, or cash it out. What move is best for your retirement plan will depend on your situation and overall financial plan.
Rolling over your 401(k) plan from your employer plan can give you a lot more options when it comes to investing and planning for the future. On today’s episode, we are going to explore 401(k) and IRA rollovers and discuss the options you have when it comes to strategic retirement planning.
Helpful Timestamps:
0:26 – It’s tax time!
2:36 – What are your options with an old 401(k)?
6:50 – You may be limited in your employer plan
8:24 – Why would you change your plan?
11:55 – Difference between traditional IRA and Roth IRA
14:15 – A lot of different moving parts
15:46 – Good reasons to keep the plan you have
17:17 – Is there a good reason to cash out your 401(k)?
18:02 – Safe options are important
19:34 – Variable products versus fixed products
23:01 – Question: “Defined benefit plan vs. a defined contribution plan?”
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107
With inflation on a steady rise and higher prices impacting many pre-retirees and retirees, you may need to re-evaluate how you’re spending and stretching your budget. On today’s episode, Blake and Mark are going to discuss some ways you can save and help your budget during this inflationary period.
Firstly, you want to calculate your net income to truly understand how much you can spend on a monthly basis. Some things are negotiable, while others like your mortgage probably aren’t. So, it’s important to find the happy balance between saving money and continuing to do the things that are important to you. Let’s explore this concept and some areas you can look at cutting costs.
Helpful Timestamps:
0:33 – Did you have a good St. Patty’s?
3:30 – Inflation is on a steady rise
5:45 – Non-negotiable versus negotiable
7:54 – Ways you can cut costs?
10:56 – Budgeting with insurance
12:35 – Groceries are also going up!
14:52 – Make sure you get what you need
16:25 – Set a date to check on your progress
19:17 – Question: “Discretionary versus required expense?”
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107
Are you turning 65 soon and are you planning on signing up for Medicare supplements? We are joined by Gene Stracener today to discuss the importance of Medicare supplements and why they may be a great option for you.
Medicare is a traditional type of insurance for that are 65+. It covers hospital visits, surgeries, doctor visits, and more. While it doesn’t cover every healthcare cost, supplements are a great way to get the most out of Medicare. On today’s show, Gene and Mark will explore supplements, Medicare Advantage plans, the questions you should be asking your agent, and more.
Helpful Timestamps:
0:28 – Gene’s background
1:13 – Brief summary of Medicare
3:04 – What are supplements?
5:22 – Medicare advantage plans
7:05 – What questions should you be asking
9:12 – Medicare versus the supplements
12:34 – Pre-existing limitations
14:04 – Don’t try to do this on your own
15:46 – Supplements do different things
18:20 – Matching your old employer plan
20:06 – Basic similarities in Medicare Advantage
21:58 – What is the cost of these plans?
23:34 – Don’t be your own agent!
23:48 – How many insurance cards with Medicare Advantage?
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107
Annuities can be a mysterious retirement tool. Some people love them and others are wary. What is the truth about annuities and can they really help you in your retirement plan? A lot of people only understand blanket statements about annuities and don’t understand how expansive the different types of annuities are. But most financial planners would agree that an annuity can fit very well in a pre-retiree or retiree’s portfolio.
All annuities are tax-deferred, meaning the interest is tax-deferred and helps the growth of your account while also keeping your current tax burden down. Annuities can guarantee a significant part of your income stream in retirement. On today’s episode, we’ll recap what an annuity actually is, the different types of annuities, and the tax advantages annuities can offer in your retirement plan and financial future.
Don’t miss out on our NRG resources and upcoming live workshops: https://www.nationalretirementgroup.org/
Helpful Timestamps:
0:40 – Resources and live workshops coming up
3:39 – Advantages of annuities
7:10 – What is an immediate annuity?
7:54 – Annuities are tax-deferred
9:11 – What is an income annuity?
10:35 – Can they keep your tax burden down?
12:30 – Expand on the bucket approach
13:54 – How lifetime income streams work
15:34 – When will taxes go up for Roth conversions?
17:06 – Question of the day – “Can you amend tax returns?”
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107
Did you know there is a difference between preparing for tax season and planning for taxes? You probably are collecting your information for this upcoming tax season already; this is tax preparation.
But looking ahead into 2022 is your opportunity to do some tax planning. What different tax codes can you take advantage of to have a more diversified tax plan in the future? The key is to find which tax laws fit your situation and how you work these into your overall financial plan. On today’s episode, Tony and Mark sit down to explore some ways you could possibly save on taxes in 2022 and beyond. If you have questions about your retirement plan or tax strategy reach out to us at https://www.nationalretirementgroup.org/ or 888.401.0107.
Helpful Timestamps:
0:53 – A bit about our background
2:41 – Preparing vs planning for taxes
5:40 – What is maxing out your retirement plan?
13:08 – Always check with your CPA
15:04 – Handling a 403(b)
20:08 – Invest for where you are in life
22:27 – Question: “What’s the difference between tax planning and tax preparing?”
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107
Are you worried about outliving your money? Looking into an annuity may be an option to sustain the longevity of your retirement plan. If Social Security and pensions won’t cover your monthly income in retirement, what options do you have?
There are different types of annuities that can match different situations. Perhaps you want to stay home in your later years instead of going into a long-term care facility, we’ll discuss how annuities can help you finance that goal. On today’s episode, we’ll discuss annuities and how they can benefit your plan.
Helpful Timestamps:
2:51 – Longevity risk with annuities
4:40 – Investing in an annuity
5:54 – Outliving your money
8:39 – A deferred vs. immediate annuity
10:55 – Protecting your portfolio
12:20 – Keeping a legacy
14:23 – Staying at home
15:28 – Question: One-word definition of an annuity
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107
Are you prepared for this upcoming tax season? A new tax landscape is taking shape for 2022 so it’s important you prepare now. If you are concerned about owing a lot of money this year, what can you do to reduce that burden?
You may be missing out on some tax credits for your retirement savings. Or perhaps you should take an itemized deduction versus a standard deduction, it’ll depend on your situation. On today’s episode, join us as we start our discussion on some possible ways to prepare your finances for the 2022 tax season.
Helpful Timestamps:
0:22 – Hello and Happy New Year!
2:11 – What’s ahead for 2022?
5:36 – Tax credits for retirement savings
7:52 – Contributing to a tax-deductible IRA
9:37 – Itemized deductions vs. standard deductions
12:18 – Keeping your income down
14:54 – Credits for education
15:57 – Ways to reduce your taxes?
17:15 – Home office tax deductions
18:16 – File and pay on time
19:10 – Filing date until April 18th
20:30 – Question: Is life insurance tax-free?
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107
What are some proposed tax changes and how could they impact you? On today's show, we'll discuss some tax proposals currently working their way through Congress. A lot of money is being printed and we are supporting a variety of programs, we'll have to pay for it.
The top tax rates will probably be going up. Expect changes to long-term capital gains, lifetime exemptions, step-up costs, and more. We'll discuss tax consequences on different retirement accounts as well as life insurance, and some things you should think about before 2021 comes to an end. While none of these changes are set in stone, we want you to be prepared for what the future may hold.
Helpful Timestamps:
0:31 – The Holiday’s are upon us
3:18 – Biden’s tax proposals
6:11 – Consequences on different accounts
8:20 – Life insurance as a cash value
10:35 – Things you can do before the end of the year
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107
In December of 2019, the first Secure Act was signed into effect. Secure Act 2.0 is now being proposed, how will it impact you? Some of the biggest possible changes will be to required minimum distributions. While you currently have to take RMDs starting at 72, this could go up to 75. Other changes are being proposed when it comes to Roth IRA conversions, catch-up plans, and charitable giving. Join us today as we discuss these possible changes and what you need to look out for in the future.
Helpful Timestamps:
0:48 – Holiday prep stories
2:16 – Our two latest newsletters
4:56 – What are the major impacts?
6:51 – Roth IRA conversions
8:17 – Cash contributions on charities
8:49 – Automatic 401(k) plans
12:38 – Catch-up plans
113:46 – Having a contingency plan
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107
We are halfway through long-term care awareness month. We’ll be finishing up our conversation on long-term care today and discussing some alternative solutions for those looking to pay for long-term care. Most people want to stay at home if it ever came to them receiving care, how will you pay for this? The insurance world is starting to transition giving people more options. When signing up for long-term care or life insurance we’ll calculate your risk and the insurance company will dictate how much money you pay to your policy. However you plan to save for long-term care, it’s important that you discuss your options with your advisor. Join us today as we discuss the value of long-term insurance, annuities, guaranteed lifetime payments, and more!
Helpful Timestamps:
2:34 – Thanksgiving is coming up!
3:45 – Would you like to stay at home?
7:31 – Cash value and payouts
8:07 – How do you get started?
9:15 – Guaranteed lifetime payments
12:20 – Client investing in an annuity
13:12 – Question: What is a contingent beneficiary?
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107
Welcome to the inaugural episode of the "Are You Retirement Ready?" Podcast. On today's show, Mark, Tony & Blake share a little bit about their Thanksgiving plans before diving into the show's opening series about long-term care. November is long-term care awareness month, so the guys will explore various long-term care needs and discuss the burdens it puts on families. They'll also talk about whether people make it a high enough priority in their retirement plans.
Long-term care is just one of the many aspects the National Retirement Group analyzes to make sure you are retirement ready, so listen closely and welcome to the show!
Helpful Timestamps:
0:52 - Thanksgiving prep
2:20 - Long term care awareness month
3:42 - How high on the list does long-term care rank for most people?
5:37 - Blake expands on the idea that our needs and priorities change over time
6:58 - How realistic is it for someone to self-insure against LTC expenses?
8:00 - Mark and Tony discuss the expense of assisted living and the drain it causes on family finances and emotions
12:50 - Question of the day: Are LTC benefits taxable?
Website: https://www.nationalretirementgroup.org/podcast
Email: info@nationalretirementgroup.org
Phone: 888-401-0107