In some states, probate is avoidable. However, in many states, you can avoid having your estate go through the probate process. I recently went through the probate process when my grandfather passed away and I helped my father settle his estate. It is far easier for your family to settle your estate once you’re gone if it doesn’t go through probate. So, in this episode, I’ll cover 7 things you can do to keep your estate from landing in probate.

• [1:57] Settling my grandfather’s estate
• [4:06] Tip #1: Give things away while you’re alive
• [5:50] Tip #2: Own your real estate jointly
• [7:16] Tip #3: Joint ownership for non-real-estate
• [9:43] Tip #4: Use a “Payable Upon Death” account
• [11:46] Tip #5: Designate beneficiaries on accounts
• [13:07] Tip #6: Designate a beneficiary for vehicles
• [13:52] Tip #7: Create a living trust
• [16:27] Probate is unavoidable in many states

• Retirement Readiness Review
• Subscribe to the Retire with Ryan YouTube Channel
• Federal gift tax allowance

www.MorrisseyWealthManagement.com/contact

Subscribe to Retire With Ryan

Protecting your finances from hackers is more critical than ever. Cybercriminals are getting more sophisticated, accessing sensitive information like social security numbers and attempting to steal directly from financial accounts.

I recently experienced this firsthand when someone impersonated one of my clients. The fraudster knew my client’s social security number and tried to withdraw funds under the guise of an emergency.

Fortunately, we were suspicious and confirmed the scam before any money was lost. This encounter highlights the importance of being proactive about securing your accounts. That’s why, in this episode, I’ll share seven essential steps to protect your Schwab accounts from hackers.

• [1:22] Join a live in-person retirement readiness workshop or sign up online
• [1:56] What happened when a hacker tried to access a client’s account?
• [3:37] Step #1: Make sure your email is secure
• [5:00] Step #1: Protect your passwords
• [5:56] Step #3: Keep your web browser up to date
• [6:48] Step #4: Set up online access to your accounts
• [9:30] Step #5: Turn on alerts on your Schwab accounts
• [12:31] Step #6: Monitor your monthly statements for suspicious activity
• [13:11] Step #7: If you’ve been hacked, call Schwab

• Retirement Readiness Review
• Subscribe to the Retire with Ryan YouTube Channel

www.MorrisseyWealthManagement.com/contact

Subscribe to Retire With Ryan

Age 59 ½ is the magic age at which you can start taking distributions from retirement accounts without a penalty. This listener is wondering if he can convert part of his IRA to a Roth IRA even though he’s not 59 ½. And if he goes ahead with the conversion, will it be subject to the 10% penalty? Listen to this episode to find out.

• [1:09] Attend a Retirement Readiness Review Workshop
• [2:26] The basics of a Roth IRA/Roth conversion
• [5:18] The first way you can do a Roth conversion
• [8:20] How to do a conversion with an existing IRA
• [9:00] What can be converted to a Roth IRA?
• [9:45] When a Roth conversion makes sense

• Retirement Readiness Review
• Subscribe to the Retire with Ryan YouTube Channel

www.MorrisseyWealthManagement.com/contact

Subscribe to Retire With Ryan

It can be overwhelming to think about what you can do to minimize your tax burden. That’s why, in last week’s episode, we covered 7 year-end tax moves for retirees. This week, we’ll tackle what those nearing retirement need to dive into at the end of every calendar year. We all need to be mindful of how our decisions impact our tax burden and this is a great place to start!

• [1:16] Tip #1: Maximum your contributions to your retirement plans
• [4:05] Tip #2: Consider a Mega Backdoor Roth IRA
• [7:30] Tip #3: Do a Roth conversion
• [11:52] Tip #4: Make charitable contributions
• [14:15] Tip #5: Exercise non-qualified stock options
• [15:07] Tip #6: Max out your FSA contributions
• [17:14] Tip #7: Max out your HSA contributions

• Retirement Readiness Review
• Subscribe to the Retire with Ryan YouTube Channel

www.MorrisseyWealthManagement.com/contact

Subscribe to Retire With Ryan

Tax planning—and anything related to taxes, in general—isn’t most people’s favorite topic. But because we’re getting toward the end of the year, it’s actually a great time to think about tax planning and all of its benefits. In this episode of Retire with Ryan, I’ll share 7 things you should think about that can (and will) help save you money in retirement.

• [1:17] Check out my course: Retirement Readiness Review
• [2:14] Tip #1: Look at your Social Security taxes
• [3:57] Tip #2: Watch your income once you go on Medicare
• [6:37] Tip #3: Consider doing a Roth conversion
• [11:18] Tip #4: Take a close look at required minimum distributions
• [13:06] Tip #5: Think about capital gains and losses
• [14:09] Tip #6: Pay the correct taxes to the IRS
• [15:07] Tip #7: Look at your state’s income tax breaks

• Retirement Readiness Review
• Subscribe to the Retire with Ryan YouTube Channel
• Will Social Security Become Tax-Free?
• IRS Update For Inherited IRAs and Roth IRAs
• Low Tax Burden States

www.MorrisseyWealthManagement.com/contact

Subscribe to Retire With Ryan

You’ve likely spent your entire lifetime saving for retirement. How do you make sure the money lasts as long as you do? How do you make sure you enjoy your retirement? It’s a balancing act for which there may be a solution.

Matthew Jarvis is a Financial Advisor who runs Jarvis Financial, located in Seattle, WA. He’s also the host of the podcast “The Perfect RA” and the author of the book “Delivering Massive Value.”

In this episode of Retire with Ryan, Matthew discusses the concept of retirement guardrails, how they work, and who they’re for. If you’re looking for a spending strategy that often leads to a successful retirement, this episode is for you.

• [0:56] Introducing this week’s guest, Matthew Jarvis
• [1:55] The big problems with the 4% rule
• [3:59] Why Matthew uses retirement guardrails
• [8:02] What if you can’t afford retirement guardrails?
• [10:20] How guardrails work for you
• [12:51] How frequently you should evaluate your guardrails
• [18:29] The five-year war chest
• [22:46] Who is the strategy for?
• [25:06] Don’t be afraid to get a second opinion

• Retirement Readiness Review
• Subscribe to the Retire with Ryan YouTube Channel
• BOOK: Delivering Massive Value
• The Perfect RIA podcast

www.MorrisseyWealthManagement.com/contact

Subscribe to Retire With Ryan

How much money do you need to save for retirement? $500,000? $2 million? The answer will never be the same. It’s specific to you. So how do you figure it out? In this episode of Retire with Ryan, I’ll share five steps you can follow to determine how much you need to retire.

• [1:25] Step #1: Calculate your budget for retirement
• [4:11] Step #2: Calculate what you’ll receive from Social Security
• [5:10] Step #3: Are you eligible for a pension?
• [5:40] Step #4: Will you have any other income sources?
• [6:27] Step #5: Look at your investments to see what you can withdraw
• [9:28] Go through this exercise to determine exactly what you need

• Retirement Readiness Review
• Subscribe to the Retire with Ryan YouTube Channel
• Get a FREE budget template on my website
• Check out all of my episodes on Medicare

www.MorrisseyWealthManagement.com/contact

Subscribe to Retire With Ryan

Could Social Security become tax-free? As the political scene heats up leading up to the 2024 Presidential Elections, and both candidates make their case for election, the topic of taxation has come up.

Former President Trump has promised that Social Security won’t be taxed if he’s elected. What could that mean for you? How is it currently taxed? I cover the details in this episode of Retire with Ryan.

• [1:35] How to get a copy of my new book!
• [2:20] The potential impact of Social Security not being taxed
• [4:50] I don’t believe we’ll see it happen: here’s why
• [5:52] How Social Security is currently taxed

• Retirement Readiness Review
• Subscribe to the Retire with Ryan YouTube Channel
• Fiduciary: How to Find, Hire, and Establish an Aligned and Trusted Partnership with a Fee-Only Financial Advisor
• Episode #206: Is Social Security Going Broke?
• Income Taxes and Your Social Security Benefit

www.MorrisseyWealthManagement.com/contact

Subscribe to Retire With Ryan