Tag Archives: Taxes

98. What is Social Security? With Cindy Mueller



When should you start your social security benefit?

In this episode, Cindy Mueller is here to break down all things social security. From the basics of how you become eligible for social security, to the more complex dynamics of taxes, this episode will answer the questions you have about social security.

Cindy discusses:

  • What is social security, when can you start it, and how you can become eligible
  • How much you receive in monthly benefits 
  • How spousal benefits work
  • Taxes related to social security
  • And more

Connect With Cindy Mueller

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About Cindy Mueller:

Cindy joined The Retirement Solution in 2008 with a commitment to delivering sound principles of financial management. She offers clients professional counsel in personal finance, investment advisory services, estate planning, and retirement planning.

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94. How to Have Money-Related Conversations with Your Children With Mike Whitmore



To all parents out there, do you talk about money with your children?

If so, what’s your approach?

In this week’s episode, The Retirement Solution’s Mike Whitmore quickly breaks down how to start, introduce, and maintain financial and money-related conversations with kids depending on their stage as pre-teenagers, teenagers, and adult children. 

Mike discusses:

  • Teaching your pre-teen children how to handle money, and what are the benefits of setting up UGMA accounts for them
  • Why have tax, “paying yourself first,” debt, and credit history-related conversations with your teenage children as they receive their first paycheck and are ready to go to college 
  • The importance of emergency funds, saving for retirement, and power of attorney documents for adult children 
  • The difference between consumer and educational debt 
  • What is “bank on yourself,” and what’s its role within the mortgage and life insurance arena 
  • AARP considerations for adult children 
  • And more!

Resources:

Connect with Mike Whitmore:

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About Mike Whitmore:

Mike graduated from Brigham Young University with a BS in Business Management and Marketing and a minor in Dutch Literature. He is a Financial Planner with The Retirement Solution, serves as the President of the Advisory Board for Velvet Media, and is a former co-founder of Fresh Consulting.

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93. Investing with Non-Retirement Funds: What to Watch Out For With Tyler Lively



Non-retirement investments are “non-qualified,” meaning that you’re investing with after-tax dollars and are not subject to any special tax treatment.

In this episode, The Retirement Solution’s Tyler Lively navigates the path of investing with non-retirement funds. All this while highlighting the role of retirement, taxes, ETFs, and mutual funds within the investment arena. 

Tyler discusses:

  • From life insurance to college planning: Why follow the general investment hierarchy to invest non-retirement fund money
  • Benefits of utilizing after-tax money for investment purposes 
  • The role of capital gains tax when it comes to after-tax assets – and a breakdown of capital gain rates in 2021
  • The idea of “capital loss bank” to offset capital gains
  • Utilizing mutual funds in after-tax investments
  • The importance of saving during retirement 
  • And more!

Resources:

Connect with Tyler Lively:

Connect with The Retirement Solution:

About Tyler Lively:

Tyler is motivated by the ability to work closely with clients to help them achieve their financial dreams and goals. Tyler is an integral member of The Retirement Solution Investment Committee and has earned a Chartered Retirement Planning Counselor designation through the College of Financial Planning, as well as the prestigious Certified Financial Planner® designation from the board-registered CFP® educational program. 

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Episode 90 – Exploring The Path of Charitable RMDs & Gifting – With Shane Perry



In simple words, a charitable Required Minimum Distribution is still an RMD but the only difference is that you are also directing it to a charity.

In this episode, The Retirement Solution’s associate planner, Shane Perry sheds some light on all things charitable RMDs and gifting to help you understand its different financial components before you pass it down to your heirs and beneficiaries. 

You will learn:

  • Who can opt for an RMD and what are the new age-related updates? 
  • Rules for those considering a Qualified Charitable Distribution (QCD)
  • How to redirect an RMD to a Donor Advised Fund
  • Tax considerations around gifting and reasons why people should gift assets while alive 
  • How are families using and approaching conversations around charitable RMDs and gifting? 
  • And more!

Listen today and discover everything you need to know about charitable RMDs and gifting!

Resources:  The Retirement Solution: 888-500-5830 | Shane Perry  

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Episode 87 – Health, Wellness, and Fitness in Retirement – With Cindy Mueller



How do you envision your overall health and wellness in retirement?

Well, believe it or not, there are six related components you MUST be aware of.

In this episode of Your Retirement Solution, Cindy Mueller explains why physical (and intellectual), mental, emotional, social, environmental, and spiritual health are so important when thinking, envisioning, and planning for your retirement years. 

In this episode, you will learn:

  • From walking groups and dance clubs, to even puzzles and Sudoku: Why is physical and intellectual health so important in retirement?
  • How retirees can tackle mental health 
  • Things you can do to keep your emotional health on track 
  • How the pandemic has impacted retirees and their social health
  • How environmental components such as smog affect your health in retirement 
  • The truth about spiritual health in a pandemic and retirement scenario 
  • And more!

Tune in today and discover what our clients at The Retirement Solution are doing to achieve a fit and healthy retirement! 

Resources: The Retirement Solution  I (425) 558-3700 I Cindy Mueller 


Episode 86 –Risky Investments Versus Having a Plan – With Mike Whitmore



Did you know that the COVID-19 pandemic has played a huge role in the risky investment arena?

In this episode of Your Retirement Solution, Mike Whitmore discusses must-know considerations surrounding risky investments. All this while referring to the importance of building a risk-proof financial plan.

In this episode, you will learn:

  • Anything that loses value: What are risky investments 
  • Cryptocurrencies, and Mike’s own personal experience: What are some of the risky investments he has seen in his career 
  • From stimulus checks to stocks: What are some of the trends in risk markets  
  • The role of The Retirement Solution when it comes to having a plan – and how does it differ from having different investment portfolios 
  • Why is it important to build a plan and what are some of the time and cost considerations 
  • And more!

Listen in and find out everything you need to know about risky investments – and when they are appropriate for portfolios! 

Resources: The Retirement Solution  I (425) 558-3700 I Mike Whitmore 


Episode 85 – Tax Bracketology – With Matt Perrone



Believe it or not, March Madness and taxes are related – and it’s because in both you fill brackets, which leads to Matt Perrone defining this as “bracketology.”

In this episode of Your Retirement Solution, Matt explains everything you need to know about setting up the correct tax bracket for retirement. All this while highlighting what to be aware of when it comes to Roth conversions and RMD’s. 

In this episode, you will learn:

  • How to control taxes in retirement 
  • What’s a Roth conversion and how does it impact retirement-related taxes
  • The truth about potentially converting everything into a Roth 
  • Reasons why Matt believes taxes are “on sale” – and what happens if rates go up or down in the future 
  • What’s a Required Minimum Distribution (RMD) and how are they impacted by taxes and Roth conversions 
  • 70 and above: Age considerations when doing Roth conversions 
  • And more!

Adult children to older parents, family members, and everyone in between should tune in and find out how a correct tax strategy can benefit YOU in retirement! 

Resources: The Retirement Solution  I (425) 558-3700 I Matt Perrone

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Episode 84 – New Trends In Retirement – With Tyler Lively and Pete Finlon



Did you know that technology can play a huge role in benefiting your retirement years?

In this episode of Your Retirement Solution, Tyler Lively sits down with Pete Finlon. Pete explains how digital technology can positively impact the social, health, and well-being component of retirees and pre-retirees. 

In this episode, you will learn:

  • The use of cellphones and computers: Embracing technology as retirees and pre-retirees 
  • The importance of being patient: How has the older generation pivoted and adopted to working from home
  • Technology safety and password managers: How to prevent data internet breaches 
  • Playing the “what if” game: The relevance of resurrecting old hobbies
  • Tips on how to maintain a healthy and active retirement 
  • And more!

Now more than ever, tune in and find out how technology can benefit your health and social life in retirement!

Resources:  The Retirement Solution I Tyler Lively I Pete Finlon

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Episode 82 – Tax Return Optimization Strategies – Shane Perry



It’s no secret that we all want to save on taxes. Never to evade them, but to have confidence that we never pay more than we legally owe.

Would you agree? 

In this episode, The Retirement Solution’s Shane Perry not only reviews his career journey at the firm, but also explains different optimization strategies that are all about helping you save some cash when it comes to taxes.

In this episode, you will learn:

  • What the US tax brackets are and how they work 
  • The difference between tax deductions, tax credits, deductions, and itemizing 
  • Tips on mortgage interest to energy tax credits: popular deductions and credits
  • Strategies on Roth’s to 529 plans: How the team at The Retirement Solution can help you build and develop tax planning strategies.
  • What a Family Limited Liability Company (LLC) is and how it works 
  • And more!

Listen today and discover how these tax-related techniques can help you optimize, save, and prepare for retirement! 

Resources:The Retirement Solution I (888) 500-5830 I Shane Perry

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Episode 80 – Learning Lessons from 2020: Implementing Financial Changes in 2021 with Cindy Mueller



It’s no secret that 2020 was a year full of lessons, especially from a health and financial security point of view.

In this episode of Your Retirement Solution Podcast, CFP® and Tax Advisor, Cindy Mueller, explains how reflecting upon 2020 can help people prepare for 2021, while discussing the importance of saving for emergency and increasing retirement funds.

In this episode, you will learn the importance of:

  • 401Ks and Roth IRA’s: The importance of contributing
  • Saving young: Why you should avoid living paycheck to paycheck 
  • Fear and greed as they relate to the stock market
  • Cindy’s insight on the 2021 tax environment 
  • And more!

Tune in to discover the value of saving and ALWAYS having a systematic plan in place!

Resources:  The Retirement Solution I Cindy Mueller

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