WealthTech on Deck Maximizing Retirement Income with Steve Zuschin
As more and more baby boomers are approaching retirement, advisors are encountering a unique set of challenges, including funds for retirement. With inflation and taxes on the rise, what can financial advisors do to maximize retirement income?
In today’s episode, Jack talks with Steve Zuschin, Executive Vice President of Enterprise Technology Adoption at LifeYield. Steve has more than a decade of experience in financial services, advisor technology, and sales. He is an expert in sales leadership and business development and has demonstrated a history of success in fintech and financial services. At Lifeyield, Steve works closely with clients to help them build comprehensive advice platforms.
Steve talks with Jack about LifeYield’s comprehensive retirement income program, what to do about taxes, and how to maximize retirement income.
Key Takeaways
- [01:34] - Steve’s role in fintech and the financial services industry.
- [04:47] - How taxes impact retirement goals.
- [06:05] - How LifeYield's retirement income sourcing works.
- [10:48] - How can all the facets of financial planning be tied together?
- [13:31] - What advisors have to say about LifeYield's retirement strategies.
- [16:02] - How dynamic algorithms play a crucial role in retirement planning.
- [18:40] - Steve's three major takeaways.
Quotes
[04:57] - "Tax is the number one offender when it comes to expenses and retirement. But it's also a huge drag on reaching retirement goals to begin with." - Steve Zuschin
[05:59] - "Every decision we make in financial service, every recommendation we make has a tax consequence, whether we want to own that or not." - Steve Zuschin
[18:56] - "Taxes are the number one expense. It's the largest expense that people incur when they're in retirement and most of them are paying unnecessary taxes. So, there's a huge opportunity to improve outcomes for them and ourselves." - Steve Zuschin
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