MoneyMattersUSA with Fred Saide: Recent Episodes
Frederick Saide
Each weekly episode covers what is required to retire successfully and stay retired. Retirement is not a one size fits all. I focus on the three core considerations: longevity, certainty, and probability. I dig down each week to explore the components of the three categories indicated above. I also cover some of the overlooked issues such as taxes in retirement. the problem of frailty, health care costs and long tern care costs. I look at the estate planning , beneficiary directions, and effective strategies to produce income over one or two lifetimes and leaving a legacy. Each podcast takes questions from listeners of the live radio broadcast as I try to provide insight into the questions without providing advice to people I do not know.
Fred Saide guests on the Milton Paris program on Fox Sports New Jersey. Fred discusses why it is so hard for retirees to go from saving to drawing on savings for income when they had been taught to save, Fred provides three tips for retirees or soon to be retirees how to conquer inflation, bear markets and the unknown of longevity.
Fred Saide is interviewed by Milton Paris on NJ station 1450 AM and 93.5 FM, Fox Sports NJ. Fred discusses the failure of many retirees to consider the cumulative impact of federal and state income taxes on income they withdraw from their retirement accounts. Fred also discusses some straight forward advice from the famous and not so famous people as their advice relates to retirement planning.
People in retirement or planning to retire in the near future, some transitioning to the post-work life have greater concerns about their investments than ever before. You shouldn't let outside forces you can't control overwhelm your ability to prioritize, adjust, and invest wisely. We have some tips. Call it financial Xanax.
My first appearance on Fox Sports New Jersey on the Milton Paris Sow, Getting Ahead in Business
Creating income in retirement is one of the main goals. The good news is we have some ideas for you to consider. After turning age 50, it's time to start rethinking the way you've always done things. Some suggestions.
We're still feeling the impact of Covid-19. If you have retired or are near retirement and still feeling unsettled we'll offer some tips on retiring well and staying retired successfully.
Financial decisions may impact your income and taxes at certain retirement milestones. A key milestone is the window between between your retirement date and the year you start taking required minimum distributions (TMDs). Fred discusses some of the key issues.
Divorce rates in the US are increasing for people over age 50. Today it is one in four, 25% of those married over age 50 divorce. Today we will talk about mistakes to avoid when divorcing after age 50 and offer tips to keep your retirement on track.
Today we discuss four considerations, "rule" if you will that will make your retirement work out better if you think about them before you start on the journey.
We look forward to retirement as a time to enjoy our days, family, and doing the things we want to do. Just one thing: in order to make that happen there are still some rules to follow.
If you're in your 50's you've probably got plenty going on in your life and retirement may not be front of mind. Today we'll highlight some things you should keep in mind as you will eventually head to retirement.
The SECURE ACT 2.0 has bipartisan agreement although temporarily on hold due to the argument over spending in the Halls of Congress. There is broad agreement to pass The SECURE ACT 2.0 which will happen either in late 2021 or during 2022. So, what could it mean for those planning for retirement? Today we will show some ways the proposed changes will impact retirement.
Saving money is a good start. There is more than just saving. How much you need, how it will be harvested, and how long you will live are all very important. Let's consider some areas that can help your retirement be successful.
We often talk about the importance of a written financial and income plan for a successful retirement. If you're in the financial red zone that plan is critical. Some tips to help you get there.
Preparing for retirement is a daunting task. There is an abundant amount of information out there that can potentially derail your plans no matter how good you think your plan is.
Most would agree there is plenty of misleading news and information regarding retirement. You need this amount to retire. Medicare is the be all and end all for health insurance and it's free. Social Security is a Ponzi scheme and Social Security is going away.
Let's cut through the noise and offer a more realistic approach to retirement planning.
Roth IRA or Roth 401k? Both? Does a Roth fit you? If yes great. If not then some other things to consider.
What are you going to do in retirement? Finding creative and resourceful ways to prepare for retirement is an important part of the process. Many people just don't take the time needed to plan out their retirement and think they can wing it when they get there. No one should think they can just make it up as they go along. Here are some tips to help you find the right direction.
The decade leading up to retirement is the last chance to build significant assets and income. The decisions you make in your fifties will impact the retirement benefits you receive and how much you will be able to safely spend the rest of your life.
If you have a solid retirement and income plan in place then now is the right time to check the boxes to make sure it's in the best possible shape to help you get on the right track and keep you there.
Women save less than men. Saving for their retirement is important yet women face many challenges in building a retirement fund. Women have fewer working years. That makes planning and saving for retirement a serious challenge for many women.
Women outlive men by anywhere form 9 to 14 years. Yet women spend a lot of money on their families, are in the labor force for a shorter time period then men, and wind up in a compressed time frame.
What can we do to change that?
There are some exceptions embedded in the tax code that makes the Roth IRA a treasure before and during retirement. Let's break it down.
Women usually outlive men. Women's relationship with money has evolved-but could be better. A longer life means financial complexity. A survey by the wealth management division of USB found 85% of women manage everyday expenses but only 23% take the lead when it comes to long term financial planning.
A 401k is the not the only option to save for retirement. If your employer offers a 401k that's great. If that is not an option, no worries because we have some solid ideas and ways you can save for retirement. We'll break it down and you can see what might be best for you and your savings.
Please stay with us. We have plenty of listener questions. We'll tackle as many as we can.
While having enough money is important there are other considerations such as striving for income and minimizing federal income taxes.
Because our tax code is very progressive planning for taxes is a key piece of the retirement puzzle. Avoiding increasing your tax liability will prevent your income from being reduced and it will also prolong the duration of your portfolio assets.
A successful retirement is about more than money. It also touches on attaining that dream of what you want to do in retirement and the legacy you want to leave behind. Having goals in retirement is critical in make sure your plan evolves with the times. That requires an ongoing conversation with your adviser. The unadvised person runs greater risk of guessing and navigating by gut.
With the right plan many retirees will have few problems. Turns out not every retiree has the right plan or worse no plan at all. We'll highlight mistakes that some are making that an really harm their retirement.
Stay turned because we have some great listener questions when we come right back.
Retirement today is very different that what your parents or even your grandparents may remember. We will go through these ten truths and how they can help you better understand your future self in retirement.
A sound retirement plan must include an income plan. While you may want to do what you want in retirement it is up to you to come up with the money. Let's look at a few ways to do so.
We often talk about a strong retirement plan. Yet many people will just go with their gut. That may work when you are picking the right steak to throw on the grill, but that is not the best choice when it comes to planning for retirement. We've mapped out some common myths that many people believe.
Stay with us as we tackle some challenging questions from listeners.
Some of these tips will sound familiar and some will sound new. Thanks to the Pandemic all ae considered essential and perhaps you should get started right away.
See where you are. Are you a "do it yourselfer?" (DIYS) Nothing wrong with that. It does require time and discernment to figure out what is helpful and what is of no value to you. When do you need an advisor.
If not then we have a service which may be of help to DIYS'
Some questions and my answers.
The new year is a great time to take a look at your retirement plan and make sure the plan is a go. On this episode we've got some tips that could give your plan a tune up.
Any Tax Deferred Account (TDA) is a partnership with the US Government. You are the dominant partner because you select the investments. The US Government is the junior partner because it shares in your gains in the form of taxes. We all have to pay our taxes, but we've got some strategies to potentially decrease the tax bill on those retirement accounts.
Most of us look forward to retirement. Things slow down and we get to do some of the things we've always wanted to do. Wait! There's much to it that just that.
We wrap up with questions l=from listeners and answers from me.
Living longer is good. Retirement today can last as much as 40 years. With the right plan longevity is a blessing, a life well lived and enjoyed. Still, there are things to be considered. Five risks to be aware of.
When you get close to retirement, there are loose ends to tie up and one of the biggest is making sure you have an income when the paycheck stops. Let's talk about some strategies to make sure you are taken care of financially as you head into retirement.
Getting your finances in order in the new year is a great way to really understand where you are and what you hope to achieve in the coming year. We've put together some great tips to help you with that and more.
we wrap up with answers to questions from listeners.
The more money you put into a Tax Deferred Plan (TDA), the more money you will accumulate. Remember, the US Government is your partner in a TDA plan. You have to share every dollar with the US Government. Top up your savings in not only TDA's but in brokerage accounts to compensate for a reduction in Social Security which is a possibility.
Women have a lot going against them, much more than men, when it comes to creating income to last through their retirement years. Let's break it down.
We often hear you need to save a certain amount of money to retire. Let's call that number "x." That does not mean you need tons of money nor will tons of money make you happy. In this segment we will discuss how to achieve happiness too.
Finally, we will wrap up with questions we will answer from listeners.
Making sure you have enough income to get you to and through retirement is at the top of the list for most. So, if you are headed into retirement or already in retirement, we've put together a list of things you can do to make sure your income keeps up with your life style.
There are all sorts of people who want to help you manage your retirement portfolio. Which type of advisor is right for you? Let's see if we can help you wade through the hype and dig in and make sure you've got five bases covered when it comes to your retirement plan.
No matter when you claim Social Security from 62 to 70, it's money you can count on every month. Now we'll outline several potential Social Security surprises that could put a dent in your retirement.
We wrap up by answering some listener questions.
There are four key rules you cannot afford to break if you want to have the financial ability to actually enjoy your later years. What are they?
Our next goal is to help you understand which retirement plans might work best for your savings needs. Individual, employer-sponsored plans, and plans for the self-employed and small business owners.
Most spending occurs on Saturday. In retirement every day is Saturday. There is a tendency to overspend. It is also possible to live a too frugal retirement. People spend so much time and effort saving they forget what they were saving for. Is it the game of what's your number? It's no longer a game. Some ideas to create a strategy that will allow you to feel more comfortable spending in a responsible way.
"We're all in this together" is another of the never ending cliches we've dealt with this year. Let's break down some things you can do to perhaps take advantage of this crazy year.
Making a retirement plan involves taking many different items into consideration. If you fail to consider some of they key issue you could end up undermining your efforts to build financial security in your later years.
Retirement planning is vitally important to financial security, but unfortunately million of Americans are making serious mistakes in the process.
We answer a few questions to clarify.
We are living in unprecedented times. With 2020 almost over, let's go over 6 financial planning tips to close out they year of the Covid-pandemic.
Making a retirement plan involves taking many different considerations into account. If you fail to consider some of these core issues, you could end up undermining your efforts to build financial in your later years.
Retirement planning is vitally important to financial security, but unfortunately millions of Americans are making serious mistakes in he process.
It's been a buy week for listeners sending questions-we will provide answers until we run out of time.
There are a number of things you can do to potentially help save thousands of dollars on your 2020 tax return. Time is running out so let's dig in and see how we can maximize the value of your retirement accounts before year end.
Most Americans believe they'll live longer than their parents and are optimistic about what that means for them and their families. Few are prepared to save more to fund a longer duration retirement. We will cover some ideas presented by the Longevity Project of Stanford Center on Longevity.
There is no getting around paying some fees in your retirement plan but we have found some that can and should be avoided.
Some questions from listeners and we will answer as many as we can until we run out of time.
Most of us enjoy advice from our parents or grandparents. They have many life experiences. When it comes to retirement today we might be better off looking to the future rather than lacking to the past.
Starting in your 50's a focus on a retirement income plan makes sense. When you have rounded the bend with retirement in your sights, then the big win in your 60's is to believe you will live to age 95.
Next we look at you as the CEO of your retirement. What works for a successful CEO could easily work for you.
WE wwrap up with questions from listeners. Good stuff.
We often talk about the importance of a written retirement and income plan. Now let's talk about implementing some tax strategies talk can help you keep more of your money all year long not just on tax day.
While some 10,000 baby boomers retire every day, this trend will end in2030. Are you ready is the big question? Did you save enough? Do you have a Social Security strategy? Making the right choices are critical. Let's review some things you may want to do but should think about before taking the plunge. Never jump into a pool until you check if there is water.
Let's break own how you can make sure your retirement savings are mostly safe no matter what happens.
Time for some listener questions. Good stuff here.
As you plan your retirement you should also be planning on income and capital gains taxes in retirement. Proactive tax planning is essential in understanding how taxes will impact your assets and income and headache and stress that goes with taxes.
We often talk about the importance of a written retirement and income plan. Now let's talk about implementing some tax strategies that can help you keep more of your money all year long and not just on tax day.
With over 10,000 boomers retiring daily and this trend continuing until around 2030, the big question is are you ready? Did you save enough? Do you have a Social Security strategy? Making the right choices are critical. We go over some things you may want to do and consider before retiring.
The closer you are to retirement the more we need to be certain our plan is keeping our money safe. We break down some strategies you can use to make sure your retirement savings are mostly safe no matter what happens.
Managing expenses in retirement is important. On this podcast I highlight some things that will impact some of the costs which will impact your retirement. How much do we need in retirement. Is the 80% rule of thumb of any value?
Can I get a do over game can be very relevant for retirees or soon to be retirees. I cover some regrets and what you can do to avoid them.
A question I get all the time is "am I ready to retire?" The retirement readiness test is covered in this segment of the podcast.
Then I respond to questions and there are some good ones this week.
Most of us want to retire early if possible in our sixties. On todays podcast I outline six retirement planning mistakes you want to avoid in your sixties.
Millions of Americans in the 50's have found themselves out of a job due to Covid-19. If that's you stick around. I've got some tips on what you can do to perhaps retie successfully earlier than you originally planned. The Employee Research Institute has found that almost 50% of retirees say they retired earlier than they had planned.
Tax planning is always important but critical in retirement. Especially so once Social Security is turned on. I provide some tips on how to understand taxes in retirement and the effective marginal rates which can be higher than bracket rates.
Finally, I respond to questions from callers and provide insights to address the issues raised by the callers.
Living longer in retirement means saving more before we get there. On todays podcast some retirement planning mistakes to avoid to help make sure we don't run out of money.
Often it's the little things we do can have a major impact on our lifestyle. So we look at trimming expenses which can have a big impact on our retirement.
I also look at the problem of saving for retirement and putting the kids through college. How to manage the two and then when the reality sets in how to get serious about putting a retirement plan together. I highlight six ways to boost retirement assets.
We wind up taking questions from listeners and providing some insight in how the issues raised might be addressed.
We all know there are risks in retirement. On this podcast I highlight some of those risks and offer potential solutions to perhaps mitigate them
I dig into some of the real risks pre-retirees and retirees should prepare for on the road to retirement.
When you are about to retire what are the things you should bring up with an advisor? I discuss some of the topics to bring up.
We spend a lifetime saving for retirement. What are the ways we can mess up and go broke in retirement? I break them down and see if we can avoid them.
We wind up with questions from listeners and offer suggestions on how to address the issues.
Living longer in retirement means saving more before we get there. On today's podcast some retirement planning mistakes to avoid to help make sure we don't run out of money.