Peeling Back Money and Life

In our increasingly digital world, your online presence—from financial accounts to social media profiles—constitutes a significant part of your legacy. In this episode, Casey and Mike delve into the importance of digital estate planning, offering actionable steps to ensure your digital assets are protected and accessible to your loved ones when the time comes.ResourcesDigital Estate Checklist (PDF)How to Protect Your Digital Assets – You Stay Wealthy PodcastEverplans: Digital Cheat SheetPREPARE Advance DirectiveFive WishesDefine Financial: Cybersecurity TipsEverplans: RUFADAA by StateGoogle Inactive Account ManagerFacebook Legacy Contact SettingsApple Digital Legacy ProgramBitwarden Password ManagerLastPass Password Manager

In this episode of the PBML Podcast, Mike and Casey discuss essential estate planning steps and the importance of organizing documents for loved ones. They cover:The 5 critical legal documents everyone needs for estate planningHow to create and organize a comprehensive Legacy BinderPractical tips for having difficult conversations with family membersesourceshttps://www.amazon.com/Art-Dying-Well-Practical-End/dp/1501135317The Art of Dying Well: A Practical Guide to a Good End of LifeLetter of Last Instruction Template.pdfLetter of Last Instruction Template.docxLegacy Binder Checklist.pdfWrite Your Own Obituary Template.pdfWrite Your Own Obituary Template.docx

In this episode, Casey and Mike discuss the critical importance of beneficiary designations in estate planning. They explain the differences between per stirpes and per capita designations, share real-life examples of common mistakes, and emphasize the need for regular reviews of these designations to ensure that assets are distributed according to one's wishes. The conversation also touches on advanced estate planning strategies, including the use of trusts, and concludes with actionable steps for listeners to take in managing their beneficiary designations.TakeawaysBeneficiary designations are often overlooked but crucial.Listing a beneficiary is not always enough.Proper designations can prevent probate and family conflicts.Beneficiary designations can override a will.Regularly review your beneficiary designations after major life events.Per stirpes preserves inheritance for family branches.Per capita distributes assets equally among living beneficiaries.Clear language in designations is essential to avoid confusion.Consider using trusts for complex family situations.Consult an attorney for advanced estate planning needs.RESOURCESWhat Issues Should I Consider When Reviewing My Beneficiaries?29 - What is probate and how to avoid it without creating a trust

Many people enter retirement with a financial plan, but no clear life plan. A life review is a powerful way to reflect on the past, align with your values, and shape a meaningful future. In this episode, Casey and Mike explore:✔️ What a life review is and how it differs from traditional goal-setting.✔️ Why reflecting on your life’s journey can help you live with more purpose.✔️ How to conduct a meaningful life review, including prompts and strategies.✔️ When to engage in this process to get the most benefit.We'll incorporate wisdom from Jordan Grumet (Taking Stock, The Purpose Code), Christine Benz (How to Retire), and other thought leaders such as Arthur Brooks (From Strength to Strength), David Brooks (The Second Mountain), and Viktor Frankl (Man’s Search for Meaning) to explore how reflection can shape a fulfilling life.This episode will help you pause, reflect, and ensure your next chapter is intentional, fulfilling, and deeply aligned with what matters most.Resources:📖 Arthur Brooks – From Strength to Strength📖 David Brooks – The Second Mountain🎙️ Jordan Grumet's Website & Resources📖 Bronnie Ware's Blog on End of Life Regrets📖 Bronnie Ware – The Top Five Regrets of the Dying: A Life Transformed by the Dearly Departing📖 Jordan Grumet – Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life📖 Jordan Grumet – The Purpose Code: Finding Meaning in Money, Work, and Life📖 Christine Benz – How to Retire: A Practical Guide to Knowing When, Planning Ahead, and Maximizing Benefits📖 Viktor Frankl – Man's Search for Meaning

In this episode, we dive deep into the realities of life after retirement. We'll explore the emotional and practical aspects of transitioning from a structured work life to retirement, discussing strategies for maintaining purpose, creating new routines, and making the most of this exciting phase. Whether you're newly retired or planning ahead, you'll discover actionable tips for navigating common challenges and embracing the opportunities that retirement brings.ResourcesHow to Retire: A Practical Guide as You Count Down to Retirement by Christine Benz - A comprehensive guide to preparing for and transitioning into retirementGraduation: From College to Career, From Career to Retirement by Mike Finley - Insights on major life transitions including the shift into retirementDie with Zero: Getting All You Can from Your Money and Your Life by Bill Perkins - A thought-provoking perspective on balancing saving for the future with living life to the fullest todayThe Purpose Code by Jordan Grumet

In this essential episode, we guide you through the critical steps to take when you're just one year away from retirement. We'll cover everything from finalizing your financial preparations to managing the emotional transition from work life to retirement.Key topics we'll discuss:How to lock down your retirement budget and income strategyEssential checklist items for your final working yearPractical steps for transitioning away from workplace benefitsStrategies for testing your retirement lifestyle before making the leapTips for managing the emotional aspects of this major life changeWhether you're planning your own retirement or helping someone prepare for theirs, this episode provides actionable steps to ensure a smooth transition into this exciting new chapter of life.ResourcesEpisode 44: "7 steps to setting up a paycheck in retirement" - Detailed guide for retirement income planningPassword Managers: LastPass, BitwardenPrevious Episodes: Episode 74: Planning 10 years before retirementEpisode 75: Planning 5 years before retirement

In this episode, we dive deep into the critical steps you should take when you're about 5 years away from retirement. We'll explore comprehensive financial planning, investment strategies, and the often-overlooked emotional aspects of transitioning to retirement. From stress-testing your retirement plan to building adequate cash reserves, we cover essential strategies to help ensure a smooth transition into your retirement years.Whether you're approaching retirement or helping someone who is, this episode provides actionable steps to make the transition as smooth as possible. We'll also discuss recent research on retirement satisfaction and strategies to avoid common pitfalls that many retirees face.ResourcesRetirement Blind Spots - Blog Article and Survey ReportPrevalence of Depression in Retirees: A Meta-AnalysisGraduation!: Retirement can be the best time in your life as you "graduate" into a better version of YOU. Awake to the possibilities! by Mike FinleyHow to Retire: 20 lessons for a happy, successful, and wealthy retirement by Christine BenzEpisode 55 - Master these three things to change your life(SAMHSA.gov)

In this episode of Peeling Back Money and Life, we explore the critical steps you need to take when you're about a decade away from retirement. We dive deep into financial and non-financial topics. Whether you're concerned about if your on track to retire, protecting your assets, ensuring your legacy, or maintaining your quality of life, this episode provides actionable insights to help you prepare for a successful retirement journey.Resources Mentioned in This Episode:Books:"How to Retire: 20 lessons for a happy, successful, and wealthy retirement" by Christine Benz"Graduation!: Retirement can be the best time in your life" by Mike Finley"Die with Zero: Getting All You Can from Your Money and Your Life" by Bill PerkinsDr. Peter Attia - Leading expert on longevity and preventive medicineHost of "The Drive" podcastAuthor of "Outlive: The Science and Art of Longevity"

In this episode, Casey and Mike discuss the journey of home ownership, emphasizing the importance of understanding the true costs associated with buying a home. They provide actionable tips for first-time buyers, including how to determine affordability, the steps to take when searching for a home, and the various loan options available. The conversation also highlights common mistakes to avoid during the home buying process, encouraging listeners to be patient and align their financial goals with their vision for home ownership.ResourcesWhat-Issues-Should-I-Consider-When-Buying-A-Home-2024.pdfSteps in Home Buying.pdfHere is J.L. Collins' article https://jlcollinsnh.com/2013/05/29/why-your-house-is-a-terrible-investment/

In this episode of Peeling Back Money and Life, we dive deep into the critical decisions around downsizing in retirement. Whether you're approaching retirement or helping loved ones navigate this transition, we explore when to consider downsizing, how to evaluate your options, and practical steps to make the process smoother.Resources:Mark MillerIndependent Living Communities and hereMinimalism: A Documentary About the Important Things - A thought-provoking film about living with less

Should you pay off your mortgage before retirement? It's a common question that doesn't have a one-size-fits-all answer. In this episode, we break down the crucial factors to consider when deciding whether to use investments or cash flow to eliminate your mortgage debt before retiring.We'll walk you through a practical framework that includes: Analyzing your financial factors Understanding the emotional aspects Exploring strategiesWhether you have a low-rate mortgage from recent years or are wrestling with higher rates, this episode will help you make an informed decision that aligns with both your financial goals and personal values. Join us as we peel back the layers of this important retirement planning decision.ResourcesShould-I-Pay-Off-My-Mortgage-2024.pdfShould-I-Consider-Refinancing-My-Mortgage-2024.pdfThe Psychology of Money by Morgan Housel - Understanding the behavioral aspects of financial decisions

Planning for big ticket expenses in retirement requires careful consideration and strategic thinking. In this episode, we explore various approaches to funding major purchases without derailing your retirement plans. We'll discuss practical strategies to help you maintain financial stability while enjoying life's bigger purchases.Whether you're planning for travel, vehicle purchases, home renovations, or other significant expenses, this episode provides valuable insights to help you navigate these financial decisions in retirement.ResourcesThe Psychology of Money by Morgan Housel - Understanding the behavioral aspects of financial decisions

In this episode of Peeling Back Money and Life, Casey and Mike dive into one of the most debated topics in personal finance: Should you contribute to Traditional (pre-tax) or to Roth (post-tax)? They break down the pros and cons, discuss key factors like tax brackets, future tax rates, and retirement planning, and share practical tips to help you decide. Tune in to discover how to align your contributions with your goals and optimize your long-term savings strategy!ResourcesTax Brackets Federal Tax Brackets Understand your current tax bracket to evaluate the potential benefits of pre-tax vs. Roth contributions.Roth IRA Rules and Limits Roth IRA Rules - Review contribution limits, income eligibility, and withdrawal rules.Roth vs Traditional What is Right for You

In this episode of Peeling Back Money and Life, Mike and Casey dive into essential strategies for minimizing taxes during retirement. They explore various income sources that can trigger tax liability and discuss smart planning techniques, including:• How to manage Required Minimum Distributions (RMDs)• The benefits of delaying Social Security• Strategic Roth conversion opportunities• Tax-efficient charitable giving methods• Capital gains harvesting strategiesWhether you're approaching retirement or already there, this episode provides actionable insights to help you keep more of your hard-earned money and avoid overpaying the IRS.ResourcesEpisodes When NOT to do a Roth Conversion How and Why to do a Roth Conversion

In this episode, we explore the various strategies for managing taxes on Roth conversions. Casey and Mike break down different approaches to paying conversion taxes. They discuss the pros and cons of each method, share practical examples, and highlight common pitfalls to avoid. Whether you're planning your first Roth conversion or looking to optimize your existing strategy, this episode provides valuable insights for making informed decisions about your retirement savings.Key topics covered: Using cash from savings vs. withholding from the conversion amount Strategic timing of conversions in low-income years Quarterly tax payments vs. end-of-year planning Combining conversions with charitable giving strategiesResources Donor-Advised Fund providers: Episodes When NOT to do a Roth Conversion How and Why to do a Roth Conversion

Join Casey and Mike as they break down the ins and outs of the Backdoor Roth IRA strategy. This episode dives deep into how high-income earners can legally contribute to a Roth IRA, even when they exceed income limits. You'll learn the step-by-step process, understand crucial tax implications.Key topics covered: Step-by-step guide to executing a Backdoor Roth IRA conversion Understanding and navigating the pro-rata rule Tax implications and strategies to minimize tax impact How the Backdoor Roth fits into your overall retirement strategy Comparison with Mega Backdoor Roth opportunitiesIRS Resources: Form 8606 Instructions - Details on reporting non-deductible IRA contributionsAdditional Resources

In this episode of Peeling Back Money and Life, Casey and Mike tackle a common dilemma faced by many workers: what to do with an old 401(k) plan. Whether you've recently changed jobs or have a long-forgotten retirement account from a previous employer, this episode breaks down your three main options: leaving it with your old employer, rolling it to your new employer's plan, or moving it to an IRA. We discuss the pros and cons of each approach, important considerations like fees and investment options, and provide actionable steps to help you make an informed decision about your retirement savings.Key topics covered: Understanding workplace retirement plans (401k, 403b, 457) The three main options for managing old retirement accounts Important factors to consider when making your decision How to find forgotten retirement accounts Steps to take action on your old 401(k) ResourcesNational Registry of Unclaimed Retirement Benefits⁠www.unclaimedretirementbenefits.com⁠IRS: Rollover Rules⁠IRS Rollover Guidelines⁠Episodes ⁠When NOT to do a Roth Conversion⁠ ⁠How and Why to do a Roth Conversion⁠ ⁠Steps to Take When Choosing Investments Inside Your 401k⁠

In this episode, we explore the essential steps you can take to prepare for retirement. We dive deep into creating a comprehensive retirement strategy, from defining your ideal retirement lifestyle to building a robust financial cushion. Whether you're just starting to think about retirement or are actively planning for it, this episode provides practical, actionable steps to help secure your financial future.Key Topics Covered: Building a vision for retirement and calculating associated costs Creating an adequate short-term reserve for financial security Developing a retirement paycheck strategy Importance of annual retirement plan reviews

In this episode of Peeling Back Money and Life, Casey and Mike explore the critical but often overlooked strategy of asset location in investment planning. They break down the differences between asset location and asset allocation, explain which investments work best in different types of accounts (taxable, tax-deferred, and tax-free), and provide actionable steps for implementing an effective asset location strategy. The discussion covers managing Required Minimum Distributions (RMDs), tax efficiency considerations, and how to adapt your strategy as circumstances change. Whether you're just starting to invest or looking to optimize your existing portfolio, this episode offers valuable insights for maximizing after-tax returns.

Join Casey Redmond and Mike Dunlop as they explore three fundamental questions that every pre-retiree and retiree should consider. This episode dives deep into both the financial and emotional aspects of retirement planning, addressing: Have you had enough? - Understanding when it's time to transition from your career Do you have enough? - Evaluating financial readiness and building confidence in your plan Will you have enough (Purpose)? - Creating a meaningful and fulfilling retirement lifestyle Listeners will learn: How to assess career satisfaction and readiness for retirement Key components of financial confidence in retirement Practical methods for discovering purpose beyond work Actionable exercises for retirement planning Resources: Books: "The New Retirementality" by Mitch Anthony "How to Retire: A Guide for Getting Ready for Life's Second Act" by Christine Benz "The Good Life: Lessons from the World's Longest Scientific Study of Happiness" by Robert Waldinger and Marc Schulz Additional Resources: Dr. Riley Moynes' "The Four Phases of Retirement" Video 3 Critical Questions Every Pre-Retiree and Retiree Should Answer

Join us for an insightful discussion about investing for a multi-decade retirement. We explore crucial topics like life expectancy, the hidden impact of inflation on retirement portfolios, and effective investment strategies for both traditional and early retirees. Whether you're planning for traditional retirement or considering early retirement (FIRE), this episode provides actionable insights to help you build a sustainable retirement strategy that can last for decades. Resources: Society of Actuaries Longevity Calculator - Tool for estimating life expectancy How to Retire: A Practical Guide to Building, Sustaining, and Enjoying Your Retirement by Christine Benz - Comprehensive guide to retirement planning and investment strategies Inflation Resources:

Unlock the secrets to accessing your retirement funds before 59.5! In this eye-opening episode, we dive into smart strategies that can help you tap into your savings early without breaking the bank. From the Rule of 55 to Roth IRA conversion ladders, we've got you covered. Whether you're planning for early retirement or just want more financial flexibility, this is the episode you can't afford to miss. Tune in and discover how to make your money work for you, on your timeline! Resources IRS Rule of 55: IRS Early Distribution Rules Roth IRA Conversion Ladder: Investopedia - Roth Conversion Ladder 72(t) Payments: IRS FAQs on Substantially Equal Periodic Payments

Casey and Mike explore strategies for making work optional, from defining your financial freedom number to creating passive income. Whether you're starting out or optimizing your approach, this empowering discussion could transform your view on work and money! Here's a list of valuable resources to help you on your journey to financial independence: Books: "Your Money or Your Life" by Vicki Robin and Joe Dominguez "The Simple Path to Wealth" by JL Collins "The 4-Hour Work Week" by Timothy Ferriss "What Color Is the Sky" by Mike Finley Websites and Blogs: Mr. Money Mustache Choose FI Afford Anything The Mad Fientist Communities: Bogleheads Forum Finheads Facebook Group

Are you curious about the FIRE movement but think it’s only for people looking to retire by 40? Think again! In this episode, Casey and Mike break down the psychology behind Financial Independence, Retire Early (FIRE) and how anyone—regardless of age or retirement plans—can benefit from adopting a FIRE mindset. From understanding the mental barriers around money to creating financial goals that fit your life, we’re showing you how to achieve financial freedom, flexibility, and peace of mind. Tune in for a conversational, engaging discussion full of tips, real-life examples, and actionable steps for mastering the mindset of FIRE—whether you’re in the movement or just getting started with better financial habits. Resources: Blogs Mr. Money Mustache: Real-life examples of frugality and financial independence. The Mad Fientist: Focus on tax optimization and early retirement strategies. Books "The Simple Path to Wealth" by JL Collins "Your Money or Your Life" by Vicki Robin and Joe Dominguez “Financial Happiness” by Mike Finley

Podcast Summary: In this episode, we explore the FIRE (Financial Independence, Retire Early) movement, discussing its principles, different approaches, steps to achieve FIRE, challenges, and actionable tips for listeners interested in pursuing financial independence. Key Resources: The Simple Path to Wealth by JL Collins Financial Happiness by Mike Finley Minimalism: A Documentary About the Important Things Mr. Money Mustache (popular FIRE blog) Your Money or Your Life by Vicki Robin and Joe Dominguez The High Price of Materialism by Tim Kasser

Join us on this special end-of-year episode of 'Peeling Back Money and Life' as we dive into setting and achieving your financial goals for 2025! We'll share practical tips, inspiring insights, and actionable strategies that will help you build better money habits and set yourself up for long-term financial success. Start the new year strong :) Books "Your Money or Your Life" by Vicki Robin and Joe Dominguez "Financial Happiness" by Mike Finley Financial Blogs: The Crazy Man in the Pink Wig Get Rich Slowly Mr. Money Mustache The Simple Dollar Financial Forums and Communities: Bogleheads.org Finheads Facebook Group Tools for tracking spending: Monarch: A comprehensive financial tracking and planning app. Learn more Tiller: Spreadsheet-based solution for customizable financial tracking. Learn more YNAB (You Need A Budget): Popular budgeting app with a focus on giving every dollar a job. Learn more

Tune in to this episode of the PBML Podcast to discover the three key areas that can transform your life! Learn how to master your energy, create powerful morning routines, and harness the power of habits with insights and practical steps from experts. Don't miss out on these life-changing strategies—start your journey to a more productive and fulfilling life today! Resources Mentioned: Mark Hyman - Functional medicine practitioner and author of "Food: What the Heck Should I Eat?" Dr. John Ratey - Associate clinical professor of psychiatry at Harvard Medical School and author of the book "Spark: The Revolutionary New Science of Exercise and the Brain." Katy Bowman - Biomechanist and author of "Move Your DNA." Joan Vernikos - Former director of NASA's Life Sciences Division and author of "Sitting Kills, Moving Heals." Matthew Walker - Professor of neuroscience and psychology at the University of California, Berkeley, and author of "Why We Sleep: Unlocking the Power of Sleep and Dreams." Patrick McKeown - Breathing expert and author of "The Oxygen Advantage" and "Always Breathe Correctly." Hal Elrod - Author of "The Miracle Morning." BJ Fogg - Behavior change expert and author of "Tiny Habits." James Clear - Author of "Atomic Habits." Michelle Segar - Leading researcher in motivation and behavior change, author of "No Sweat: How the Simple Science of Motivation Can Bring You a Lifetime of Fitness."

Ready to unlock the secrets to a 7-figure net worth? In this episode, we reveal the top 7 financial decisions that can transform your financial future. From smart investing to maximizing retirement contributions, we've got actionable steps and real-life examples to guide you. Don't miss out on these crucial insights—tune in now and take the first step toward financial freedom! Resources: Books: The Next Millionaire Next Door by Thomas J. Stanley and Sarah Stanley Your Money or Your Life by Vicki Robin and Joe Dominguez What Color is the Sky by Mike Finley Think and Grow Rich by Napoleon Hill The Simple Path to Wealth by JL Collins I Will Teach You to Be Rich by Ramit Sethi

In this episode, join us as we dive into the world of charitable giving with financial educator Mike Finley. Discover insightful strategies like Qualified Charitable Distributions (QCDs) and Donor Advised Funds (DAFs), and learn how to integrate them into your financial plan for maximum impact. Mike shares personal stories, practical advice, and answers common questions about making meaningful contributions. Don't miss this opportunity to transform your approach to giving and make a lasting difference! **Books by Mike Finley:** "Financial Happine$$," "The Crazy Man in the Pink Wig," and others **The Giving Solution:** Mike's non-profit organization offering free financial guidance **Newsletter:** Subscribe to Mike Finley's newsletter for ongoing financial tips and insights Personal Finance Classes: Attend one of Mike's workshops or classes for hands-on learning Youtube by Mike Finley Schedule Mike to Speak Resources

Join Casey and Mike as they dive into the world of charitable giving, exploring how you can support the causes you care about while maximizing tax benefits. From Qualified Charitable Distributions (QCDs) to Donor Advised Funds (DAFs) and more, this episode provides actionable steps and real-life examples to make your philanthropic efforts more impactful. Tune in to learn strategic tips for integrating charitable giving into your financial plan and ensuring your generosity makes the biggest difference! Charity Navigator: A resource for evaluating the financial health and transparency of nonprofits. GuideStar: Another tool for researching and assessing charities. Contact Information Email: [email protected] Resources Mentioned

Join us as we dive into our 7 Step Tax Planning Checklist to help you maximize tax savings and secure your financial future. From charitable giving and Roth conversions to tax harvesting and gifting strategies, we've got you covered. Don't miss out on expert tips and actionable advice that can make a significant difference in your tax planning. Tune in now and take control of your financial destiny! IRS Withholding Calculator IRS Form W-4 IRS Form 1040-ES TrueMed Episodes 35 and 36: Roth Conversions Episodes 37 and 38: Tax Harvesting Email: [email protected] Resources Mentioned

Join Mike and Casey as they delve into the crucial topic of IRMAA and its impact on your Medicare premiums. Discover practical strategies to manage your income and avoid those extra costs. Tune in to learn about the Top 7 ways to avoid or reduce IRMAA surcharges. Don't miss out on this essential guide to optimizing your retirement finances! Resources https://www.kiplinger.com/retirement/medicare/medicare-premiums-2024-irmaa-for-parts-b-and-d Will-I-Avoid-IRMAA-Surcharges-On-Medicare-Part-B-And-Part-D-2024.pdf

Struggling with health insurance options before hitting 65? We've got you covered! Join us as we break down COBRA, marketplace plans, employer-sponsored benefits, and more. Discover the best strategies to ensure continuous, affordable healthcare. Tune in and make informed decisions for your future! Resources https://finder.healthcare.gov/ https://www.dol.gov/agencies/ebsa/laws-and-regulations/laws/cobra https://www.healthcare.gov/lower-costs/ https://www.kff.org/medicare/issue-brief/retiree-health-benefits-going-going-nearly-gone/ https://www.mass.gov/news/what-you-should-know-about-health-care-sharing-ministries-discount-plans-and-risk-sharing-plans https://www.healthsharingplans.com https://www.ehealthinsurance.com/small-business-health-insurance?allid=goo28098000&sid&s_kwcid=AL!4462!3!694877887352!b!!g!!small+business+health+insurance+comparison&gclid=CjwKCAjwx-CyBhAqEiwAeOcTdUqJt8cN_gXFZ7rJWZ09xqEPSB4e0ex89sv0qo54N8b6cR54XWXdnhoCBjUQAvD_BwE https://www.cms.gov/CCIIO/Programs-and-Initiatives/Other-Insurance-Protections/cobra_qna https://money.usnews.com/careers/best-jobs/slideshows/companies-offering-health-insurance-to-part-time-workers?slide=3 - Part-time employers with health insurance https://www.medicaid.gov/state-overviews/state-profiles/index.html If-I-Retire-Early-Should-I-Buy-Health-Insurance-Through-The-Health-Insurance-Marketplace-2024.pdf

Are you overpaying for your home and auto insurance? Tune in to this episode where we peel back the layers of insurance policies to help you understand your coverage better. We'll guide you through different types of home and auto insurance, how to balance coverage with affordability, and how to adjust your policies to fit your current needs. Don't miss out on the chance to save on insurance and protect your valuable assets – tune in now! Resources: https://www.bankrate.com/insurance/homeowners-insurance/homeowners-insurance-cost/#methodology https://www.nerdwallet.com/article/insurance/minimum-car-insurance-requirements

Dive into the world of life insurance with us in this episode as we demystify the different types, from term to permanent to what you have at your work and Social Security. We discuss how to determine your needs, the cost of each type, and the advantage. If you're looking for clear and practical advice on life insurance, this episode is a must-listen! Resources www.term4sale.com https://www.ssa.gov/benefits/survivors/ NAIFA (National Association of Insurance and Financial Advisors): IIABA (Independent Insurance Agents & Brokers of America):

In this thought-provoking episode, we delve deep into a vital question most retirees grapple with - Should you keep or get a mortgage in your retirement years? Join us as we dissect the pros and cons of having a mortgage in retirement, run through numerous scenarios, and offer valuable insights to help you make an informed decision. Whether you're nearing retirement, moving to a new home, or even considering building a new home, this episode is a must-listen. Tune in to discover how careful financial planning can empower you to navigate the uncertainties of retirement and lead a stress-free post-retirement life.

Dive into the world of annuities with us in this episode! We delve into the topic, explaining what annuities are, how they work, and their pros and cons. Whether you're considering annuities for your retirement plan or just want to broaden your financial knowledge, this episode is for you. Don't miss out on this opportunity to learn more, join us in peeling back the layers of annuities! Resources https://www.investopedia.com/articles/retirement/121416/retirement-annuities-know-pros-and-cons.asp https://www.investopedia.com/articles/retirement/07/annuity-benefits-fine-print.asp https://www.nationwideadvisory.com/products/monument-advisor https://www.fidelity.com/annuities/FPRA-variable-annuity/overview

Summary In this episode, we break down the complex process of setting up a paycheck in retirement into simple, manageable steps. We provide insights on assessing your expenses, adding up income sources, calculating the amount needed from your investment accounts, and more! Join us as we share tips on choosing the right withdrawal account, creating your own withdrawal frequency, and the importance of reviewing and adjusting your plan. Whether you're nearing retirement or just starting to plan, this episode offers valuable insights to help you optimize your money and create a sustainable plan for your retirement years. Don't miss out! Resources Genworth cost of care calculator Social Security benefits optimization tool (https://opensocialsecurity.com/) https://www.kitces.com/blog/consumption-gap-in-retirement-why-most-retirees-will-never-spend-down-their-portfolio/ https://www.financialplanningassociation.org/sites/default/files/2021-11/2006 - Guyton and Klinger - Decision Rules and SWR (1).PDF https://www.kitces.com/blog/probability-of-success-driven-guardrails-advantages-monte-carlo-simulations-analysis-communication/

Join us for an enlightening episode where we peel back the layers of financial planning. We answer one of the most common questions we get – "Where should I put my next dollar?" We've broken down the answer into seven easy steps. Whether you're just starting out or looking to refine your financial strategy, this episode will guide you to make the most out of every dollar. Get ready to dive deep into the world of money and life, and get one step closer to financial stability! Resources Retirement calculator Collegesavingsiowa.com (for Iowa 529 plans)

In this episode, we dive deep into the world of investing! Join us as we walk you through a comprehensive investing roadmap. We take the guesswork out of investing and give you actionable steps to kickstart your journey towards financial independence. Whether you're a seasoned investor or just starting out, this episode is packed with insights that will help you optimize your investment strategy and grow your wealth. Don't miss out!

Join us on this episode of Peeling Back Money and Life as we delve deep into the world of Tax Harvesting. Uncover invaluable strategies like tax loss and gain harvesting that can significantly impact your financial health. Whether you're a high earner, a young investor, or planning for retirement, this episode has something for you. Don't miss out on this opportunity to make informed decisions about your investments! Resources Forget Harvesting Losses, It's Time to Harvest Gains! Is Capital Loss Harvesting Overvalued?

Description Join us on this week's episode as we peel back the layers on tax-loss harvesting - a game-changing financial strategy. Discover how it can reduce your taxable income and potentially lower your overall tax rate. We'll unpack the process, illustrate with examples, and even dive into the complexities of the wash-sale rule. Don't miss out on these expert insights into managing your tax liability while maximizing your investment strategy! Resources Tax - Loss Harvesting Wash Sale Rules

Join us in this enlightening episode of 'Peeling Back Money and Life' as we sit down with Jerry Harris, President of Cedar Falls Operations and Chief Experience Officer at Western Home Communities. Discover the evolution of Western Homes, the challenges and innovations in the senior living sector, and gain valuable advice for families considering senior living options. Hear about impactful programs like Fortified Life and Charitable Gift Annuities, and learn about the future of senior living communities. Don't miss this inspiring conversation! Resources Mentioned Fortified Life Program Western Home Communities 5307 Caraway Ln Cedar Falls, IA 50613 319-277-2141

Join us as we delve into the top investing rules for successful financial growth. We'll guide you through the process of setting clear investment goals, developing a passive strategy using index funds, and adjusting your portfolio to align with your objectives. Learn how to avoid common pitfalls like emotional decision-making and market timing, and get practical tips on managing costs, rebalancing, and continuous learning. Tune in for this insightful episode - it's time to peel back the layers of money and life! Resources "A Random Walk Down Wall Street" by Burton Malkiel "The Little Book of Common Sense Investing" by John C. Bogle Books by Mike Finley, Rick Ferri, Charles Ellis Investing podcasts, including the Morningstar podcast "The Long View" Bogleheads online community

Join us as we welcome Mike Finley, the 'Crazy Man in the Pink Wig,' who shares his incredible journey to achieving financial independence by 45. Discover his unique concept of 'graduation,' essential personal finance principles, and inspiring stories from his work. Don't miss out on practical advice and insights that could transform your financial future! Resources Mentioned Books by Mike Finley: "Financial Happine$$," "The Crazy Man in the Pink Wig," and others The Giving Solution: Mike's non-profit organization offering free financial guidance Newsletter: Subscribe to Mike Finley's newsletter for ongoing financial tips and insights Personal Finance Classes: Attend one of Mike's workshops or classes for hands-on learning Youtube by Mike Finley Schedule Mike to Speak

Tune into our latest episode where we take a deep dive into Roth Conversions. We discuss when it might not be the right move, the potential impacts on your tax bill and retirement savings, and important considerations to take into account before pulling the trigger on doing a Roth Conversion. This episode is packed with valuable insights and tips, whether you're considering a Roth Conversion or simply want to better understand your retirement options. Don't miss out! Resources: The Premium Tax Credit 60-Day Rollover Rule for Retirement Plans IRS Uniform Lifetime Table Future Value Calculator Vanguard: Historical Rate of Return

Unravel the complexities of Roth Conversions in this episode where we take a deep dive into the world of tax planning. Learn about the benefits, pitfalls, and strategies of Roth conversions, and how to leverage them for a more financially secure future. Get insights from a case study and understand how proactive tax planning can save you millions in taxes. This episode is a must-listen for anyone considering Roth conversions or those simply looking to optimize their retirement savings! Resources IRS uniform lifetime table Future value calculator Vanguard data on historical rate of return Medicare IRMAA information

In this episode of Peeling Back Money and Life, join Casey and Mike as they delve into the importance of credit scores and freezing your credit. They break down credit score. Then they dive into the concept of freezing your credit, explaining how it can protect you from fraud and identity theft. With helpful insights and practical steps, this episode is a must-listen if you want to take control of your financial security! Resources Credit monitoring AnnualCreditReport.com: You can get a free credit report from each of the three major credit bureaus (Experian, Equifax, and TransUnion) once per year through this site. Credit score Credit Karma Credit.com Credit Bureaus Experian Equifax TransUnion Password Managers LastPass Bitwarden 1Password

In this episode of Peeling Back Money and Life, we delve into the complex world of financial advisors. We tackle common questions about changing financial advisors, the fiduciary standard, fee-only vs fee-based advisors, and where to find help. We also provide a wealth of resources for finding the right advisor for your needs. Tune in for insightful discussions that will equip you with the knowledge to make informed decisions about your financial future. Resources CFP Boards “Find a CFP Professional” website: www.letsmakeaplan.org Financial Planning Associations “PlannerSearch” website: www.plannersearch.org National Association of Personal Financial Advisors: NAPFA.org XY Planning Network: www.xyplanningnetwork.com Advice Only Network: www.adviceonlynetwork.com Garett Planning Network: www.garrettplanningnetwork.com Foundation for Financial Planning: www.ffpprobono.org The Giving Solution: www.thegivingsolution.org

Discover the ins and outs of financial advisor fees in this enlightening episode. We delve into hourly fees, flat fees, asset-based fees, and commissions, and discuss the potential conflicts of interest that each model might bring. We also provide crucial questions to ask your financial advisor to ensure transparency and alignment of interests. Tune in to gain a clear understanding of what you're paying for and how to evaluate the value of advisor fees. With this knowledge, you can make more informed decisions about your financial advisory relationships. Resources Kitces.com Questions to ask a financial advisor FINRA BrokerCheck How to find and work with a financial advisor Different Types of Financial Advisors XY Planning Network National Association of Personal Financial Advisors (NAPFA) Fee Only Network Financial Planning Association (FPA) Garrett Planning Network