For Your Retirement: Recent Episodes
Robert Lindstrom
For Your Retirement is a show for those of you who want information that can guide you to and through retirement. FYR is hosted by Robert Lindstrom, CFP, founder of Provision Financial Planning, a Fee-Only financial planning and investment firm in Towson, Maryland.
In this episode we discuss things you can apply to your 2021 tax return and things to look out for the 2022 tax year.
In this episode I discuss some strategies for donating to charity and how it can benefit you when filing your taxes.
Learn about some strategies still available to affect your 2021 tax return even though it is 2022, like IRA, HSA and self-employed retirement plan contributions.
A lot of decisions about financial planning can be changed later, and given the nature of an uncertain future almost certainly will be adjusted. But there are some decisions that can't be undone, like missing Medicare enrollment, annuities and Roth conversions.
Visit Provision Financial Planning.
In this episode we discuss after tax funds in IRAs and how they are different from Roth IRA's, and why you should care.
In this episode we discuss the new 2021 social security update and what it means for your future.
*Please note any changes to the estate exemption are no longer applicable for 2021 planning purposes, as of 11/17/21. This episode was recorded when there were anticipated changes. This could still be educational and you should monitor proposed legislation because changes could still happen in the future, but action items with deadlines no longer apply as of 11/17/21. *
Listen in to hear how the estate exemption works and what sort of options may be available to you if you ever need to worry about estate tax in the future.
This episode covers those decisions you have to make around open enrollment. Listen in as we discuss group life insurance, group disability, FSAs and more.
Interested in learning more? Visit http://provisionfinancialplanning.com/
In addition to all the "normal" retirement planning considerations, there are several areas that require special attention when retiring early (mainly before 65, but really any time before 70).
There are many similarities between these two accounts, which makes the differences that much more important. Learn some of these differences which can help you make the best decision for you.
This "flowchart" style episode will help you determine which retirement plan is right for you, and why a Solo-401k provides a lot of benefits to high-income self-employed individuals without employees.
Today, Max Raimer joins the conversation about what types of insurances you should be looking at.
Today, Max Raimer joins the conversation about what types of insurances you should be looking at.
Today we dive into permanent life insurance and what consumers should be aware of before purchasing.
Inflation has had its share of headlines recently, but listen in to hear why inflation should always be top of mind for long-term investors.
Taxes will be the largest expense in retirement for many of you. Today we dive into the reason why Roth Conversions are a powerful tool to lower your lifetime taxes.
Danny Reedy joins us today to discuss mortgages. We talk about the current mortgage market but also some unique challenges retirees and self-employed people may face.
Danny Reedy's Website
Special guest Kevin Permison joins us to talk about commercial insurance and how it is different from personal insurance.
Kevin's Contact Info
Listen to this episode as Dan Francis joins us to talk about home, auto and liability insurance.
Reach Dan at 410-513-8356 or dfrancis@aigmd.com.
Listen in to my conversation with Dan Francis about home, auto and liability insurance, including common mistakes and what specifically retirees should be thinking about.
Reach Dan at dfrancis@aigmd.com or 410-513-8356.
Estate Attorney Matt Penater joins us for a conversation around estate planning.
The Penater Law Firm
IRA's are becoming more and more common and unfortunately some of the mistakes are irreversible. It's important to know the common mistakes and how to avoid them.
Financial writer Allan Roth likes to say that "investing is simple, but not easy", and I couldn’t agree more. In this episode, we dive into why investments are extremely important, but not as important as people think.
Solopreneurs, this one is for you! More and more people are becoming solopreneurs now, so listen in to learn the potential benefits of a Solo 401k!
The Surprising Benefits of Working Longer
What if you could "pull" forward some of the things you are looking forward to about retirement? In Part 2, we discuss some financial planning implications of redistributing retirement.
What if you could "pull" forward some of the things you are looking forward to about retirement? In Part 1, we discuss what it means to redistribute retirement and some ways to do it.
Bucket List Worksheet
Parable of the Mexican Fisherman
8,000 Days Article
Redistribute Retirement Article
We discuss the various financial planning strategies that should be considered if you have been divorced at some point or are currently going through a divorce. Topics covered include taxes, insurance, estate planning and retirement accounts.
Financial Planning When Retiring Solo
12 Challenges Women Face in Retirement
Read Retirement Planning and Divorce
Financial planning is one of the last things someone wants to be thinking about when they lose a spouse. Combining that with the decisions that have to be made is a recipe for poor decision making. Luckily, not all decisions have to be made right away, and this episode will go through some the more important decisions and review some common mistakes.
Listen to "12 Challenges Women Face in Retirement"
Listen to "Retirement Planning When Retiring Solo"
Read "Retirement Planning for Widows and Widowers"
Estate planning isn't just for the wealthy, and it is more than a set of documents (although it is still both of those things). Estate planning allows you to decide ahead of time how you want your assets distributed when you die, lessen the administrative burden for your surviving family members and, if you want to, provide a legacy beyond just a pile of money.
Listen to Year End Financial Planning Strategies
Download Checklist for Aging Parents
Free Advance Directives in Your State
Should you move to a different state in retirement? While there can be some good financial reasons to do so, including cost of living and taxes, the actual decision involves much more like family, healthcare, social network and lifestyle. Be sure to listen to the end so you learn about the importance of domicile.
Lower Your Taxes in Retirement
Join us as we discuss the various financial planning strategies that should be considered as we approach the end of the year. There are some strategies that apply every year, whether we have an election or not. We also discuss some potential ramifications from the election outcome, and why you may want to wait and see how the senate race plays out. We'll also be hosting "office hours" on these topics on December 2, so be sure to sign up at the links below.
Office Hours on 12/2 at Noon
Office Hours on 12/2 at 5:30pm
Solopreneurs are self-employed without employees. This unique income arrangement comes with some unique challenges and opportunities, including one of Robert's favorite planning tools: The Solo-401k.
Read the Guest Post
Join us as Robert talks through an article that is an excerpt from a book by Larry Swedroe, a prolific financial author. Women are statistically more likely to retire in poverty and Larry points out several reasons for this, including the wage gap, women living longer, working fewer years, more conservative investors, not satisfied with current financial industry, more likely to bear the physical, emotional and financial brunt of caring for family, and more likely to die single, divorced or widowed.
The Unique Retirement Issues Facing Women
75 Must-Know Statistics About Women and Retirement
9 Mistakes To Avoid Retiring Solo
Financial Planning and Divorce
Retirement Planning For Widows and Widowers
Retirement planning often revolves around specific ages. Beginning with 50, there are several specific issues you need to be aware of as you turn certain ages. We walk through those in this episode and discuss the planning opportunities associated with each.
Blog on same topic: https://provisionfinancialplanning.com/retirement-planning-important-ages/
Lower Your Taxes in Retirement
9 Mistakes to Avoid When Retiring Solo
The American College of Financial Services has published 18 risks you face in retirement. In Part 2, we discuss the risks associated with aging, public policy risk, and more. The takeaway: You often get to choose the risks you want to mitigate, but it usually means taking on a different risk.
9 Mistakes to Avoid When Retiring Solo
Lowering Taxes in Retirement
The American College of Financial Services
The American College of Financial Services has published the 18 risks you face in retirement. In Part 1, we discuss longevity risk, sequence of retirement risk, market risk, interest rate risk and more. The takeaway: You often get to choose the risks you want to mitigate, and which ones you're okay with.
American College of Financial Services
Retirement planning, and retirement itself, often involves volatility, uncertainty, complexity and ambiguity. These make up the acronym VUCA, which is a framework that is gaining popularity with the pandemic. Originating out of the US War College and applied to corporate America, I attempt to discuss the framework in the context of retirement.
Tax planning in retirement can mean a few different things. Taxes will be the largest expense in retirement for many of you. There are some simple strategies that can have a concrete impact on your taxes, but there are also multi-year strategies that require projections and a little bit of art. These can also be the most impactful, like Roth conversions. Be sure to download the pdf below for more information.
Download Lowering Taxes In Retirement
Schedule a 15-minute Fit Meeting to discuss your taxes.
Retirement Planning for Widows and Widowers
Retirement Planning with the new SECURE Act and money scripts are discussed. The SECURE Act made changes to RMDs, QCDs, inherited accounts and contributions. The pandemic reached the US a few short months after passage, so most people haven't had a chance to incorporate these changes into their plan. Money scripts include money worship, money status, money vigilance and money avoidance. We usually have a little of each in our lives but going to the extreme in any one could have an impact on your money.
Learn more about money scripts
Retirement planning has been affected by The CARES Act, which was passed by Congress in response to the COVID-19 pandemic. While there were many provisions, there are some specific examples that apply to people near or in retirement. No RMDs are required in 2020, and there's a way to undo it. There are also some tax strategies you should know about in case it can lower your tax bill.
Learn more.
People retiring single have to think about some areas differently than couples. In some ways, retirement planning is more simple. In others, it can be more complicated. This episode walks you through eight areas the single retiree should be thinking about, including taxes, Social Security, long-term care, Medicare and insurance.
9 Mistakes to Avoid When Retiring Solo Ebook
The terms Fee-Only, Fee-based and Fiduciary can be confusing. Complicating matters more, a lot of financial advisors can answer "yes" when asked if they are a fiduciary. Not as many can answer "yes" if asked if they are a fiduciary at all times. Listen to this episode to learn about the different types of Fiduciaries out there. You'll also learn the differences in Fee-Only, Fee and Commission, and commission based advisors so you can choose the best type for yourself.
View the show notes or visit our homepage.
The inaugural episode of For Your Retirement walks you through a retirement focused case study. Financial Planning is more than investment management, even goals-based investment management. This episode should illustrate what that means. Areas covered include tax planning, investments, income planning, estate planning, insurance planning, and government benefits optimization.
- Read the case study