America's Wealth Management Show

As self-proclaimed Rothaholics, Bud Kasper, CFP®, AIF® and Dean Barber could talk to you for hours about benefits of a Roth IRA. Bud and Dean strongly believe that the Roth IRA is one of the best things ever written within the tax code, so they compiled a list of seven primary benefits of Roth IRAs to back up their reasoning. Who knows? Maybe after learning about these benefits of a Roth IRA, you’ll become a Rothaholic too. Audio Only: Retirement Plan Checklist: https://bit.ly/3J46JVz Join the Rothaholic Club: https://bit.ly/3U6FQa4 Financial Planning Tool: https://bit.ly/3vLc40T Meet with Us: https://bit.ly/43RZARR Understanding SECURE Act 2.0 with Ed Slott: https://youtu.be/HHPMo9l0yeg?si=DrvJXVsQMW5tficY How Does a Roth IRA Grow?: https://youtu.be/sJcVt95fKZo RMD Strategies for Before & After Retirement: https://youtu.be/V3xr4QyWIHg IRA Rollover Mistakes to Avoid: https://youtu.be/vJehvEatGGw Roth Conversion Questions from the Internet: https://youtu.be/65uerfp0DdU Maximizing In-Plan Roth Conversions f

April is an important month in the wealth management industry, especially with Tax Day coming up on April 15. Taxes are one of our financial planning pillars at Modern Wealth Management, and they play a big role in the other three pillars—estate planning, investment management, and risk management. If you took a financial literacy quiz that covered all four pillars, how do you think you would fare? Well, we’re glad you asked. It’s a fitting time to take such a quiz considering that April is Financial Literacy month.1 On this episode of America’s Wealth Management Show, Dean Barber and Bud Kasper, CFP®, AIF® are going to take FINRA’s seven-question financial literacy quiz.2 Do you think that you, Dean, and Bud can all ace it? Zippia Financial Literacy Study: https://www.zippia.com/advice/financial-literacy-statistics/ FINRA Financial Literacy Quiz: https://www.finra.org/financial_literacy_quiz Why Compound Interest Is Key: https://youtu.be/4HHC7MLDsc0 Taxes on Retirement Income: https://youtu.be/I9UUlenPT8Y Sh

If you’ve spent the past 30-40 years working, think about how many hours you’ve spent at work if you’ve averaged a 40-hour work week. 40 hours a week multiplied by 52 (weeks in one year) multiplied by 40 equals 83,200 hours over 40 years. If you suddenly decided to retire tomorrow, what if you live for another 30-40 years? Once you’re no longer working, you could have tens of thousands of hours of free time. What are you going to do with them? Let’s talk about the importance of planning to transition into retirement. Retirement Plan Checklist: https://bit.ly/3ITn4MX Financial Planning Tool: https://bit.ly/4ariy3M Meet with Us: https://bit.ly/3VAVtr5 Don’t Retire Without Doing These 8 Things: https://youtu.be/nbF2B5efXtc What’s the Meaning of Wealth Management?: https://youtu.be/Q95aio0b9S8 Living Life After Leaving Your Career with Bruce Godke: https://youtu.be/7OsCuR9sJKg?si=ecip2bTt9ImETPuA 5 Factors More Important than Rate of Return: https://youtu.be/ji55KADdVYo Setting Up a Spending Plan for Retirement:

It’s one thing to know what age you want to retire, but it’s another to know you can get to and through retirement without too much financial stress. How much do you need to live your desired lifestyle in retirement? That answer is different for everyone. Let’s review a few steps to help you make sure your retirement portfolio can go the distance. Retirement Plan Checklist: https://bit.ly/3VyMyqg Financial Planning Tool: https://bit.ly/3TyIzaM Meet with Us: https://bit.ly/4ari5i2 Retirement Plan Checklist: https://bit.ly/3VyMyqg Financial Planning Tool: https://bit.ly/3TyIzaM Meet with Us: https://bit.ly/4ari5i2 What’s the Meaning of Wealth Management?: https://youtu.be/Q95aio0b9S8 IRA Rollover Mistakes to Avoid: https://youtu.be/vJehvEatGGw Taxes on Retirement Income: https://youtu.be/I9UUlenPT8Y Roth Conversion Questions from the Internet: https://youtu.be/65uerfp0DdU Stress Testing Your Financial Plan: https://youtu.be/hN42aRqv-1g    

Dean Barber and Chris Rett take a look at some Roth Conversion questions we scrounged up from the internet. What are people asking? And more importantly, what kind of answers are they getting from their online peers? Roth Conversion Case Studies: https://bit.ly/3IJzOFR Become a Rothaholic: https://bit.ly/3vc7JDZ What is a Backdoor Roth IRA?: https://bit.ly/49SjDBT Financial Planning Tool: https://bit.ly/3TufNrs Meet with Us: https://bit.ly/3VrdrMD IRA Help Website: https://irahelp.com Question Posts: https://www.reddit.com/r/FinancialPlanning/comments/186c54k/when_does_it_make_sense_to_do_a_roth_ira/ https://www.reddit.com/r/investing/comments/xfv7dl/roth_conversion_worth_it/ https://www.reddit.com/r/Bogleheads/comments/142g7wo/does_a_roth_conversion_still_make_sense/ Roth Conversion Content: In-Plan Roth Conversions for 401(k)s: https://youtu.be/4IH9AJ9GajI How Does a Roth IRA Grow?: https://youtu.be/sJcVt95fKZo Pros and Cons of Converting to a Roth IRA: https://youtu.be/7T_BaFtK4gg Ed Slott Podcasts: htt

Choosing a financial advisor to work with isn’t a decision that should be taken lightly. If you’re looking for a financial advisor (or changing financial advisors), what skills should you expect from that person? Retirement Plan Checklist: https://bit.ly/4cpt7WL Financial Planning Tool: https://bit.ly/4a3Wrkc Meet with Us: https://bit.ly/4anw4pe Morningstar Report: https://www.morningstar.com/business/insights/research/elevating-advisor-client-relationship-through-personalization  Don’t Retire Without Doing These 8 Things: https://youtu.be/nbF2B5efXtc 5 Factors More Important than Rate of Return: https://youtu.be/ji55KADdVYo What’s the Meaning of Wealth Management?: https://youtu.be/Q95aio0b9S8 7 Retirement Strategies to Retire Successfully: https://youtu.be/RzOrA1IJjHY Understanding Retirement Asset Allocation: https://youtu.be/HytNZJ8BUT8 Bad Retirement Planning Habits to Avoid: https://youtu.be/Ry6ANnqXXUA

On an April 2023 episode of America’s Wealth Management Show, Dean Barber and Bud Kasper, CFP®, AIF® discussed how inflation was finally cooling after reaching a 41-year high in 2022. That continued to be the case for most of the rest of 2023. After year-over-year inflation hit 9.1% in June 2022, it fell to 3.1% by November 2023. However, the cooling trend for inflation appears to have come to a halt since then. The Consumer Price Index, which is considered as one of the leading indicators of inflation, increased 0.4% in February 2024 and 3.2% over the last 12 months according to the U.S. Bureau of Labor Statistics’ monthly report. CNBC Article: https://www.cnbc.com/2024/03/13/when-are-the-worlds-central-banks-cutting-rates-in-2024.html Retirement Plan Checklist: https://bit.ly/3ThLW5v Financial Planning Tool: https://bit.ly/3wUKoqR Meet with Us: https://bit.ly/4cszk4D Disinflation vs. Deflation: What Are the Key Differences?: https://youtu.be/TzA2kVLRlug Health Care Costs During Retirement: https://youtu.be

Rollovers to and from IRAs are a valuable financial planning strategy in different situations. From Roth conversions to spousal rollovers, there is a multitude of rules that should be followed in each scenario. It’s important to make sure you avoid certain mistakes when you want to execute a rollover. IRA Help Website: https://irahelp.com Retirement Plan Checklist: https://bit.ly/43duCDv Tax Reduction Strategies: https://bit.ly/3Tza311 Become a Rothaholic: https://bit.ly/3vcjXwk Financial Planning Tool: https://bit.ly/3x0e3i8 Meet with Us: https://bit.ly/3wSxZUh Ed Slott’s Latest Podcast with Us – https://youtu.be/HHPMo9l0yeg?si=s4rVCcjmzy5kYPsZ   4 Big Tax Mistakes to Avoid in Retirement: https://youtu.be/eTJV5UF9j4Q 5 Money Mistakes to Avoid in Retirement: https://youtu.be/83pJND6T2mU Rules for Inherited IRA Distributions: https://youtu.be/VQPX_jo09rY Must-Knows for Couples Retirement Planning: https://youtu.be/o4eiAkWGc3k Bad Retirement Planning Habits to Avoid: https://youtu.be/Ry6ANnqXXUA In-Plan Roth Co

It’s hard for our team to believe, but it’s almost been one year since the launch of Modern Wealth Management. As our firm continues to grow, we’re constantly pondering the question, “What is the meaning of wealth management?” Retirement Plan Checklist: https://bit.ly/3uRf9wf Tax Reduction Strategies: https://bit.ly/3IqXoH5 Financial Planning Tool: https://bit.ly/48DEzLy Meet with Us: https://bit.ly/4c1Uzdc What Is Wealth? Four Types of Wealth: https://youtu.be/4U8crRkPJBc Why You Need a Financial Planning Team: https://youtu.be/n0lRpP8YOew?si=nVW5egiT-VNWXW1l Considerations for Retiring Before 62 & 65: https://youtu.be/JbZWycokNhc How to Be the CEO of Your Retirement: https://youtu.be/FVTuG3OPeFg?si=MgKf-1bPquFIxMDP Must-Knows for Couples Retirement Planning: https://youtu.be/o4eiAkWGc3k 5 Questions About Long-Term Care Insurance: https://youtu.be/DF6v83HkxWg Health Care Costs During Retirement: https://youtu.be/7ffrE3wnBuc

As humans, we’re all creatures of habit. While it can be difficult for some people to realize and/or accept, seeking a comfortable retirement can disrupt habits that they’ve had for many years. There’s no doubt that retirement is something that so many people long for but remember that you’re not just retiring from something (your job). You’re also retiring to something (the goals for the rest of your life). Retirement Plan Checklist: https://bit.ly/3TpS0dx Financial Planning Tool: https://bit.ly/3IqRINj Meet with Us: https://bit.ly/3T39xHb Retirement Savings By Age: https://youtu.be/pKPMTRRCUXw Setting Up a Spending Plan for Retirement: https://youtu.be/5CHb7BAAI2Q Good Fear vs. Bad Fear: https://youtu.be/p1QunlaL_3E 5 Factors More Important than Rate of Return: https://youtu.be/ji55KADdVYo Understanding Retirement Asset Allocation: https://youtu.be/HytNZJ8BUT8 4 Big Tax Mistakes to Avoid in Retirement: https://youtu.be/eTJV5UF9j4Q Living Life After Your Career with Bruce Godke: https://youtu.be/7OsCuR9sJKg

When our Director of Investments Stephen Tuckwood, CFA joined Dean Barber on The Guided Retirement Show to discuss strategic investing through retirement, there was one thing in particular that he wanted to make very clear. Very early on in that conversation with Dean, Tuck said that asset allocation is the biggest driver of your portfolio’s return over time. We’re going to elaborate on why Tuck believes that so that you have a firm understanding of retirement asset allocation. Retirement Plan Checklist: https://bit.ly/3P11uJJ Financial Planning Tool: https://bit.ly/4bWeev6 Meet with Us: https://bit.ly/3SZTnhE Where Should I Save My Money?: https://youtu.be/q6iaWjj7ZDQ Reviewing Rebalancing Strategies: https://youtu.be/5icgvwRbQZs Active vs. Passive Management: https://youtu.be/Y6W1Mh1zPm4 What Should I Invest My Money In?: https://youtu.be/AtJvNswl5bw  5 Money Mistakes to Avoid in Retirement: https://youtu.be/83pJND6T2mU Examining Municipal Bonds in 2024: https://youtu.be/y3M7jdSxNY8 Tax-Efficient Investin

Should I get out of debt before I retire? It’s one of the more common questions we get when we meet with people getting closer to retirement. It’s important to understand that not all debt is the same. Let’s examine different types of debt to help determine whether you should get out of debt before you retire. Retirement Plan Checklist: https://bit.ly/3TeiNcS Financial Planning Tool: https://bit.ly/3OZiAYt Meet with Us: https://bit.ly/3OZiqAl Setting Up a Spending Plan for Retirement: https://youtu.be/5CHb7BAAI2Q Why When You Retire Matters: https://youtu.be/6UcLAmM6wtI Mortgage Tips for Different Phases of Life: https://youtu.be/uP6wt1LYPCA 5 Factors More Important than Rate of Return: https://youtu.be/ji55KADdVYo 5 Money Mistakes to Avoid in Retirement: https://youtu.be/83pJND6T2mU

While most people are working, their tax situation is fairly straightforward. They earn income from an employer, and the employer has certain taxes deducted from their paycheck. The income earned is potentially subject to several different taxes, such as federal or state income taxes, Social Security tax, Medicare tax, or local municipality earnings taxes. However, you can still do certain things, like making contributions to tax-deductible savings accounts, to potentially reduce your taxable income while working. Retirement Plan Checklist: https://bit.ly/49KQyaT Financial Planning Tool: https://bit.ly/3T6C9R2 Meet with Us: https://bit.ly/3T6C5AM 4 Tax Mistakes Retirees Need to Avoid: https://youtu.be/eTJV5UF9j4Q RMD Strategies for Before & After Retirement: https://youtu.be/V3xr4QyWIHg 5 Money Mistakes Retirees Need to Avoid: https://youtu.be/83pJND6T2mU Pension Plans: Defined Benefit vs. Defined Contribution: https://youtu.be/NGtjUe7kHO4 Where Should I Save My Money?: https://youtu.be/q6iaWjj7ZDQ How Do

Deciding where to store your money depends on various factors including your financial goals, risk tolerance, and liquidity needs. Logan and Chris review some common options to consider. Retirement Plan Checklist: https://bit.ly/3T7hlZC Financial Planning Tool: https://bit.ly/3uIUxWO Meet with Us: https://bit.ly/42MUFB3 Why Compound Interest Is Key: https://youtu.be/4HHC7MLDsc0 What to Know About CDs, Bonds, and Treasuries: https://youtu.be/fIKXL3DUL6k  What Should I Invest My Money In?: https://youtu.be/AtJvNswl5bw  5 Money Mistakes to Avoid in Retirement: https://youtu.be/83pJND6T2mU 4 Tax Mistakes Retirees Need to Avoid: https://youtu.be/eTJV5UF9j4Q Maximizing In-Plan Roth Conversions for 401(k)s: https://youtu.be/4IH9AJ9GajI  Financial Planning Tips for 2024: https://youtu.be/eSKyNMPuz4M?si=e38F1pZW_WctMFZa 

Before you ask what should I invest my money in, ask yourself, “what does my money need to do for me to accomplish my goals?” Before you can answer that question, you obviously need to have an idea of what your goals are. It’s critical for your investment strategy to be designed around your financial goals along with your tolerance for risk and other factors that are unique to you. What your best friend invests in might not be the best option for you to invest in. Retirement Plan Checklist: https://bit.ly/3SDGr0R Financial Planning Tool: https://bit.ly/48oqHVg Meet with Us: https://bit.ly/3wkX9L1 5 Money Mistakes Retirees Need to Avoid: https://youtu.be/83pJND6T2mU Don’t Retire Without Doing These 8 Things: https://youtu.be/nbF2B5efXtc Health Care Costs During Retirement: https://youtu.be/7ffrE3wnBuc Must-Knows for Couples Retirement Planning: https://youtu.be/o4eiAkWGc3k Safe Withdrawal Rates in Retirement: https://youtu.be/Vld61sfqlEo

Whether you’re in retirement or preparing for it, what your biggest fear when it comes to retirement? For most people, it’s running out of money. We’re going to discuss that fear—which is very legitimate—and how to plan for it. But that’s far from the only risk in retirement. Let’s review five common risks in retirement and what you can do to mitigate them. Retirement Plan Checklist: https://bit.ly/3UIXgKm Financial Planning Tool: https://bit.ly/3wigkoE Meet with Us: https://bit.ly/49Ey7F7 4 Tax Mistakes Retirees Need to Avoid: https://youtu.be/eTJV5UF9j4Q Good Fear vs. Bad Fear: https://youtu.be/p1QunlaL_3E RMD Strategies Before & After Retirement: https://youtu.be/V3xr4QyWIHg 7 Overlooked Budget Items in Retirement: https://youtu.be/bFSYNrFZ6x0 Health Care Cost During Retirement: https://youtu.be/7ffrE3wnBuc 5 Questions About Long-Term Care: https://youtu.be/2vo8Jt9hUYc  Must-Knows for Couples Retirement Planning: https://youtu.be/o4eiAkWGc3k What Is Longevity and How Do You Plan for It?: https://yout

Our Director of Investments Stephen Tuckwood, CFA has covered a wide range of topics with Dean Barber on The Guided Retirement Show. Toward the end of the episode, Strategic Investing Through Retirement, Tuck and Dean touched briefly on active vs passive management. We’re going to take a deeper dive into active vs passive management today to give you a better understanding of each investment strategy. Retirement Plan Checklist: https://bit.ly/3warfAR Financial Planning Took: https://bit.ly/3wb6hSo Meet with Us: https://bit.ly/3HS5HeP 5 Factors More Important Than Rate of Return: https://youtu.be/ji55KADdVYo Good Fear vs. Bad Fear: https://youtu.be/p1QunlaL_3E  What Is Longevity Risk and How Do You Plan for It?: https://youtu.be/OMoWFA7_NiE Can I Beat the Market?:  https://youtu.be/NZBjj14O4AA  5 Money Mistakes Retirees Need to Avoid: https://youtu.be/83pJND6T2mU  

For those of you gearing up to retire within the next few years, you may be wondering how your health care costs during retirement might look. There are several factors at play. We’re going to dive those to give you a better understanding of your health care costs during retirement. Retirement Plan Checklist: https://bit.ly/48aeUKe Financial Planning Tool: https://bit.ly/3w31tOG Meet with Us: https://bit.ly/42uFHzs ACA Subsidies: How Do You Qualify for Them?: https://youtu.be/hX7ynKriW9w?si=79Qn7dzhL1jzR6SK HSA Tax Advantages: https://youtu.be/w7KHmts85oI?si=4CoEIwwM21NUYuj3 5 Questions About Long-Term Care: https://youtu.be/2vo8Jt9hUYc  Must-Knows for Couples Retirement Planning: https://youtu.be/o4eiAkWGc3k Family Financial Planning: https://youtu.be/MX0SvvCwnww?si=wmdbGQS_U1vd7bEw Peak 65: Nearly 4.4 Million Americans to Turn 65 in 2024: https://youtu.be/u47__V3nGVg

Fear is a very real thing in the financial business, and how you react to it can make a huge difference. There's a fine line between good fear and bad fear. Good fear can lead you to being educated about what's going on in the markets and being dynamic with your financial plan. Bad fear involves overreacting to things you shouldn't be too concerned and doesn't allow you to live life like you want to. Learn more about that fine line from Dean Barber and Bud Kasper, as they break down the different types of financial fear. Retirement Plan Checklist: https://bit.ly/3UhIA4N Tax Reduction Strategies: https://bit.ly/4bxiroX Financial Planning Tool: https://bit.ly/3SnqaNd Meet with Us: https://bit.ly/3ueelRI 4 Big Tax Mistakes Retirees Need to Avoid: https://youtu.be/eTJV5UF9j4Q What Is Longevity Risk and How Do You Plan for It?: https://youtu.be/OMoWFA7_NiE 5 Factors More Important Than Rate of Return: https://youtu.be/ji55KADdVYo Stress Testing Your Financial Plan: https://youtu.be/hN42aRqv-1g 7 Retirement Strateg

Many people at least have a rough idea of how much they spend each month. Money comes in from a paycheck and money goes out for various expenses. When it comes to planning for your retirement, it's good practice to have a detailed understanding of how and where your money goes once it leaves your bank account. In retirement, some expenses won't look a lot different than they do while you are working. Tax Reduction Strategies: https://bit.ly/3OleSrW Financial Planning Tool: https://bit.ly/3SESaNK Meet with Us: https://bit.ly/47YjyLf Why When You Retire Matters: https://youtu.be/6UcLAmM6wtI Don’t Retire Without Doing These 8 Things: https://youtu.be/nbF2B5efXtc 5 Money Mistakes Retirees Need to Avoid: https://youtu.be/83pJND6T2mU 5 Questions About Long-Term Care: https://youtu.be/2vo8Jt9hUYc  1RMD Strategies for Before & After Retirement: https://youtu.be/V3xr4QyWIHg