Retirement Starts Today

Scammers are constantly changing their playbooks to try and stay ahead of the authorities. That is why the IRS annually updates its "Dirty Dozen Tax Scam" list. This week we'll explore the latest article from the IRS on this year's tax scams then we'll check out an article from Financial Advisor Magazine that involve questionable tax practitioners and charitable remainder annuity trusts. Don't miss out on this week's listener question because chances are, you have had this question as well. Outline of This Episode [2:22] What the IRS has to say about the dirty dozen in 2023 [9:54] Tax scams that target the wealthy [14:02] On making larger withdrawals in your 60s and lesser withdrawals later on Resources & People Mentioned The Retirement Tax Podcast The Annual Listener Survey The IRS 2023 Dirty Dozen IRS Warns Of Tax Scams That Target Wealthy Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

As a financial advisor that thinks a lot about the Medicare surcharge IRMAA, an article titled Stop Worrying About IRMAA written by a source I trust certainly caught my eye. In this episode, we'll explore what IRMAA does, reflect on the article, and discuss whether the IRMAA surcharge is worth worrying about. If you have questions about IRMAA or are starting to approach Medicare age you won't want to miss out on this episode. Outline of This Episode [1:22] How Medicare works [5:33] How IRMAA works [8:09] My thoughts [9:18] Action items [14:50] How to pay taxes on Roth conversions Resources & People Mentioned The White Coat Investor - Should We Even Worry About IRMAA? Episode 101 - How to Navigate the Upcoming Changes in Medicare Supplement Plans Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Who wants to live longer? I know I do! Before you start taking magic pills and seeking the fountain of youth in an effort to increase your life span, Alex Janin from the Wall Street Journal suggests you start exercising. In this episode of Retirement Starts Today, we'll explore Alex's article, What if the Most Powerful Way to Live Longer Is Just Exercise? Make sure to stick around for the end of the show where Bret and I turn traditional retirement advice on its head as we answer one listener's question about how to draw down their various retirement accounts. Outline of This Episode [2:32] Just exercise more [5:41] Biohackers have discovered exercise is best [8:22] Exercise sooner rather than later [11:16] What is the best way to draw down my accounts in retirement? Resources & People Mentioned Whoop Strap WSJ article - What if the Most Powerful Way to Live Longer Is Just Exercise? Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

If you have diligently saved throughout your career, you may be ready to retire, yet still feel uncertain about spending your savings. To truly live your best life in retirement you need to learn how to shift from a saving mindset to a spending mindset. In this episode of Retirement Starts Today, we'll help you do just that. This is the podcast where you can learn how to spend more money and pay less taxes on your way to an even better retirement. Listen in to learn how you can start spending more money so that you can enjoy your best retirement. Outline of This Episode [2:52] 3 techniques retirees can use to spend more money confidently [6:30] Techniques #2 and 3 [12:24] Can my wife receive a spousal benefit before I receive my Social Security benefit? Resources & People Mentioned ThinkAdvisor article Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

If you are new to the show, welcome! This is a place where we talk about how to spend more money, pay less taxes, and have an even better retirement. Today we're investigating that last part–the even better retirement. In the retirement headlines segment, we'll take a look at a CNBC article that dives into an 85-year happiness study from Harvard University. Results from this study reveal the number one retirement challenge no one is talking about. Listen in to hear what this could be. Outline of This Episode [1:22] The number one retirement challenge that no one talks about [3:38] Ask yourself a few questions [8:17] How to go about bridging insurance before Medicare Resources & People Mentioned Boomer Benefits CNBC article Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Do you long for a lost golden age when everything was better? If you do you're not alone. Many people feel that society is experiencing a moral decline. But is that really true? On this episode of Retirement Starts Today, we'll explore a New York Times article that challenges this way of thinking and attributes it to cognitive biases. Listen in to learn what you can do to improve your thinking about the present and the future so that you can experience an even better retirement. Make sure to listen until the end of the episode to hear how you can celebrate my 300th episode with me and save 40% on Retirement Income University. Outline of This Episode [1:32] Your brain has tricked you into thinking everything is worse [6:10] Maximize your full potential in retirement by eliminating stinkin' thinkin' [8:15] Should this listener continue aggressively investing in retirement? [11:20] Consider how you handled market corrections in the past Resources & People Mentioned Enter promo code Podcast at checkout and save 40% on Retirement Income University Hurry–the offer ends! July 31, 2023! NYT article Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

If you want an amazing retirement you need to start thinking about your future self. We discussed the idea of your future self on a previous episode where I interviewed my coach, Dr. Benjamin Hardy. In this episode, we're taking a look at another book on the future self, Your Future Self by Hal Herschfield. I'm listening to the audiobook now and this topic has me thinking about how it applies to retirement. Listen in to hear more about this book and my exciting announcement about my own explorations into the topic of the future self in retirement. Outline of This Episode [2:55] 4 observations on how your future perspective impacts your present [8:15] 4 areas that you can reflect on to improve your future self [12:15] The risk vs the value of starting Social Security at 62 versus 65 Resources & People Mentioned Forbes article on your future self Episode 263 - Be Your Future Self Now with Dr. Benjamin Hardy BOOK - Be Your Future Self Now by Benjamin Hardy BOOK - Your Future Self by Hal Herschfield Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Happy 4th of July weekend!! Can you believe the podcast that started as a crazy experiment on my kitchen counter in the fall of 2015 is now over 300 episodes?! Thank you for all your support over these many years. As a way to say thank you, I'm heavily discounting Retirement Income University this month. Enter promo code "PODCAST" for a special $300 price to celebrate episode #300 (nearly 40% off). Click here -> www.RetirementIncome.University Happy 4th of July weekend, have a hot dog for me!

One of the greatest financial assumptions is that it's always better to own than to rent. However, in retirement, this may not be true. Once you are financially independent it is important to realize that not every dollar you spend needs to yield a return. Join me for this episode of Retirement Starts Today to question traditional thinking and to see how you can improve your life, spend more money, and have more fun in retirement. Outline of This Episode [1:42] Change your relationship with money [3:21] With financial independence you can throw money away [3:55] 12 reasons to rent in retirement [10:20] How the Guyton-Klinger spending strategy works Resources & People Mentioned BOOK - Die with Zero by Bill Perkins Episode 300 - $300 Gym Bag Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Have you considered working part-time in retirement? A growing number of older adults are choosing to continue work even after reaching retirement age. While some continue work due to financial necessity, many choose work that offers fulfillment and enjoyment. In the retirement headlines segment of this episode of Retirement Starts Today, we'll explore the meaning and nature of work and what that could mean for your retirement. Make sure to stick around for the listener questions segment where we consider the pros and cons of keeping a stable value fund in a 401K while rolling over the rest of the 401K into a Roth. This is an interesting question to explore since the pros and cons have changed recently and what once were pros are now cons. Listen in to hear why. Outline of This Episode [1:22] Many older adults are choosing to work in retirement [5:16] What could this mean for younger people? [8:41] The pros and cons of rolling a portion of a 401K into an IRA Resources & People Mentioned Semi-Retirees Find Work-Life Balance by Choice Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify