In this episode, Ryan Burklo discusses the distribution of tax status as a factor that impacts financial success. He emphasizes the importance of understanding how your assets will be taxed when you retire and how that affects the net income you receive. He explains the concept using a sample client's financial balance sheet and discusses the different types of taxable and tax-free income. The goal is to have a balanced pie chart with a mix of partially taxable, fully taxable, and non-taxable income. Ryan encourages listeners to think with the end in mind and seek guidance from advisors who can help with long-term tax planning. To learn more about Quantified Financial Partners, please visit our website ww.beerandmoney.net

Takeaways

Understanding how your assets will be taxed when you retire is crucial for maximizing your net income.
A balanced pie chart with a mix of partially taxable, fully taxable, and non-taxable income is ideal.
CPAs are helpful for managing taxes in the present, but it's important to work with advisors who can also help with long-term tax planning.
Thinking with the end in mind and considering the tax implications of your financial decisions can lead to a more stress-free and financially secure life.

Chapters

00:00 Introduction and Recap of Previous Episodes
02:01 Understanding the Sample Client's Financial Balance Sheet
06:30 Considering Lifestyle and Income in Retirement
09:12 Desired Balance in the Pie Chart
10:29 The Role of Advisors in Long-Term Tax Planning
11:43 Conclusion and Call to Action

In this episode, Ryan Burklo and Alex Collins discuss the factors that impact financial success, focusing on the location and liquidity of wealth. They explain that most people have two buckets of money: savings and retirement accounts. However, they emphasize the importance of having a midterm bucket, which provides liquidity and flexibility for life events and goals. They discuss the characteristics of each bucket and the need for balance and tax efficiency. They also introduce the concept of true liquidity, which involves having money in a separate account that is not correlated with the market. They provide examples and calculations to illustrate the benefits of having a midterm bucket and true liquidity. If you would like to learn more about Quantified Financial Partners, please visit our website www.beerandmoney.net

Takeaways

The location of wealth can be more important than the amount of wealth.
Having multiple buckets of money with different tax treatments and liquidity levels is crucial for financial success.
A midterm bucket provides liquidity and flexibility for life events and goals.
True liquidity involves having money in a separate account that is not correlated with the market.
Balancing risk and tax efficiency is key when allocating money across different buckets.

Chapters

00:00 Introduction
01:45 The Location of Wealth
03:29 The Importance of a Midterm Bucket
04:19 Understanding True Liquidity
07:28 Balancing Risk and Tax Efficiency
11:21 Maximizing Financial Success

In this episode, Ryan Burklo and Alex Collins discuss the five factors that impact financial success. They focus on the first factor, which is the amount of wealth. While many people believe that the size of their assets is the most important factor, the hosts argue that it is actually one of the smallest factors when it comes to the efficiency of assets. They provide an example to illustrate this point, showing that the rate of return and distribution method have a greater impact on income in retirement. The hosts emphasize the importance of considering all five factors and creating financial balance. If you would like to learn more about Quantified Financial Partners, please visit our website www.beerandmoney.net

Takeaways

The amount of wealth is just one of the five factors that impact financial success.
The rate of return and distribution method have a greater impact on income in retirement.
Creating financial balance is important, considering all five factors and finding appropriate amounts for each.
Legacy and the fear of running out of money are important considerations in retirement planning.

Chapters

00:00 Introduction and Beer Talk
03:01 The Impact of the Amount of Wealth
07:31 Rate of Return and Income in Retirement
10:48 Guaranteed Distribution in Retirement
13:55 The Importance of the Other Four Factors
16:03 Conclusion