In this episode of the Retire Early Podcast, financial advisors and retirement planners Sam Benson and Linwood Fraher discuss how taxes can impact your retirement plans and share strategies to minimize tax burdens. They explain the differences between ordinary income tax and capital gains tax, the benefits of tax loss harvesting, and the advantages of working with a tax professional. Additionally, they explore the significance of Roth contributions, itemizing deductions, and understanding your marginal and effective tax rates. The episode also covers tactics such as qualifying charitable distributions and deferred compensation plans to optimize tax efficiency during retirement.

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In this episode of the Retire Early Podcast, financial advisors and retirement planners Sam Benson and Linwood Fraher address a critical concern: is it too late to start saving for retirement if you're behind? They discuss practical strategies for those who haven't started saving or have minimal savings by age 40 or 50. Key takeaways include setting clear retirement goals, utilizing employer 401k matches, investing in IRAs, and the importance of automating savings. They also emphasize working longer, saving more, and reducing debt to secure a comfortable retirement. The episode is filled with actionable advice to help late starters build a strong financial future.

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www.planwellretirehappy.com Article referenced: https://www.ramseysolutions.com/retirement/40-with-no-savings-retire-a-millionaire

In this episode of the Retire Early Podcast, financial advisors and retirement planners Sam Benson and Linwood Fraher discuss the important decisions to make regarding 401ks after leaving a job or retiring. They outline the four primary options: leaving it with the current employer, rolling it over to a new employer’s plan, rolling it into an IRA, and cashing it out. They highlight the pros and cons of each option and emphasize the importance of knowing the tax implications. The episode also touches on the growing issue of using credit for everyday expenses and the financial pitfalls it can create. Join Sam and Linwood as they provide valuable insights to ensure your retirement planning stays on track.

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In this episode of the Retirement Early podcast, financial advisors and retirement planners Linwood Fraher and Sam Benson explore strategies for managing unexpected windfalls, such as lottery winnings, inheritances, or the sale of a business. They discuss the pitfalls and challenges that can come with sudden wealth, including increased requests for money from friends and family, lifestyle inflation, and potential financial mismanagement. The hosts emphasize the importance of seeking advice from financial professionals, including attorneys, tax advisors, and financial planners, to ensure the money is managed wisely and can contribute to a secure future. They also share real-life examples of both successful and unfortunate cases of windfall management, providing listeners with valuable insights on how to best handle a sudden increase in wealth.

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www.planwellretirehappy.com

Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.

In this episode of the Retire Early Podcast, financial advisors and retirement planners Linwood Fraher and Sam Benson of Martin Wealth Solutions unpack the basics of annuities. They discuss the different types of annuities, including single premium immediate annuities, fixed annuities, fixed indexed annuities, and variable annuities, and highlight important considerations for each. Listeners will learn about the benefits, potential drawbacks, and key details to watch out for when investing in annuities. The episode aims to equip future retirees with the knowledge to make informed investment decisions, ensuring they choose the best annuity products for their financial plan and avoid common pitfalls.

http://retirewithmartin.com/ <- Learn about working with us

www.planwellretirehappy.com

Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.

In this episode of the Retire Early Podcast, financial advisors and retirement planners Sam Benson and Linwood Fraher discuss the crucial topic of long-term care and adult daycare. They delve into various aspects of long-term care, including what it is, who needs it, and different ways to prepare for it financially. Key points include the costs associated with different types of long-term care, from in-home nursing to assisted living and memory care facilities, and how to financially plan for these expenses. They also explore the strategy of self-insuring versus purchasing long-term care insurance or utilizing Medicaid. The episode emphasizes the importance of having a comprehensive financial plan to ensure you and your loved ones are protected in the event of needing long-term care.

https://www.carescout.com/cost-of-care <- Referenced article http://retirewithmartin.com/ <- Learn about working with us

www.planwellretirehappy.com

Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.

In this episode of the Retire Early Podcast, financial advisors and retirement planners Sam Benson and Linwood Fraher discuss the fundamentals of building an investment portfolio. They explore the primary asset classes—cash, fixed income, equities, and alternatives—detailing their characteristics, risks, and benefits. The hosts emphasize the importance of understanding each asset class, diversification, and aligning investments with individual financial goals. They also touch on the topic of asset performance in volatile markets and the importance of consulting with a professional for tailored investment strategies.

http://retirewithmartin.com/ <- Learn about working with us

www.planwellretirehappy.com

Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.

In this episode of the Retire Early Podcast, financial advisors Sam Benson and Linwood Fraher from Martin Wealth Solutions discuss the critical decision of whether to manage your investments yourself or hire a financial advisor. They explore the benefits and pitfalls of both approaches, the types of financial professionals available, and the importance of selecting a fiduciary. They also delve into the emotional and strategic aspects of financial planning, the essential questions to ask potential advisors, and the comprehensive services a good financial advisor should provide. Tune in to learn what can help you achieve your goal of retiring early.

http://retirewithmartin.com/ <- Learn about working with us

www.planwellretirehappy.com