There is a lot to cover in this episode, including new legislation that could impact your retirement.

Plus, 6 More Retirement Financial Myths to Avoid, and a listener with substantial assets who wants to know how to pay for a new car.

The OBBB

The One Big Beautiful Bill became public law on July 4, 2025. Included are:

• Lower Tax Brackets Are Now Permanent
• 
Larger Standard Deduction
• New Senior Bonus Deduction (2025–2028)

• Above-the-Line Charitable Deduction (2026–2028)

• Expanded SALT Deduction

• ACA Subsidy Planning Alert

• New Car Deduction 


If you’re a client of ours - we’ll go into these changes in detail during our year-end appointments. If you really like the numbers, we’ll do a before & after to calculate your specific tax savings impacted by these changes.

Article: 6 More Retirement Financial Myths to Avoid

This article by Sheryl Rowling from Morningstar addresses these six myths:

1. You Should Never Make a Big Splurge in Retirement
   2. It’s Best to Give to Charity After You Die
   3. Spending Less Is Always Better
   4. You Must Pay Off Your Mortgage Before Retiring
   5. Reverse Mortgages Are a Last Resort
   6. Your Biggest Financial Risk Is a Market Crash

Resource:
6 More Retirement Financial Myths to Avoid by Sheryl Rowling

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Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

This week’s headline reads like a financial horror story — and unfortunately, it’s a true one. 😱

33-year-old Mr. Handy changed jobs and did what millions of Americans do every year: he requested a rollover of his 401(k).

Paychex, the provider managing his old employer's plan mailed him two paper checks: one for his traditional 401(k), and one for his Roth 401(k). They were intercepted in the mail, and over $114,000 vanished. Gone. Just like that.

This situation raises some serious questions. According to a recent report from Capitalize, 43% of people doing rollovers are still being sent paper checks. Why are we still using paper checks to transfer life savings?

We'll cover that through an article written by Ron Lieber of the New York Times.

📬 Then we will answer a listener question, "I invested in Vanguards 2035 Target fund a long time ago. Not a bad move. BUT, I did so in a brokerage account and not an IRA. Now I have over $100k in it. Oops. Should I leave it there or try to shift to a more flexible fund before a I retire in 5 year or so?"

Resource:

Article by Ron Lieber: His Life Savings Were Mailed to Him by Paper Check. Now, It’s Gone.

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Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

According to BankRate, 23% of Americans 60-78 have a side-hustle. Maurie Backman says in an article by Kiplinger that this would help with two key areas in retirement planning: It provides us with something fulfilling to do after our primary career and provide a little extra cash in retirement.

The benefits of a side hustle:

• Mental Engagement
• Extra Income
• Social Connection
• Sense of Purpose

The Pitfalls of a side hustle:

• Tax Complications
• Outspending your retirement budget in search of business profits
• Medicare Premium Creep (IRMAA)
• Lifestyle Clash
• Time Commitment

Also in this episode, we discuss a listener's question about global stock allocations - and asks if I think it's better to own a global fund or to own US & international equity separately. How can one balance simplicity and effectiveness in their plan?

Resource:
Article by Maurie Backman: Monetizing a Hobby in Retirement: The Benefits and Pitfalls
Article by Bankrate: https://www.bankrate.com/credit-cards/news/side-hustles-survey/

• Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
• Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter
• Work with Benjamin: https://retirementstartstoday.com/start

Follow Retirement Starts Today in:
Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart

Get the book!
Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement