In this episode, Ryan Burklo discusses the tax status of retirement accounts and the importance of considering taxes when planning for retirement. He explains the different tax statuses of assets, including fully taxable, partially taxable, and non-taxable. Ryan emphasizes the preference for having a majority of assets in the non-taxable category. He explores strategies for shifting assets from taxable to non-taxable, such as asset shifting and cashflow shifting. Ryan also highlights the need to think with the end in mind and consider flexibility in retirement.

Takeaways

Consider the tax status of your retirement accounts when planning for retirement.
Having a majority of assets in the non-taxable category is preferable.
Strategies like asset shifting and cashflow shifting can help shift assets from taxable to non-taxable.
Think with the end in mind and consider flexibility in retirement.

Chapters

00:00 Introduction: Importance of Tax Status in Retirement
01:21 Tax Status of Assets: Fully Taxable, Partially Taxable, Non-Taxable
03:24 Shifting Assets: Asset Shifting and Cashflow Shifting
06:47 Thinking with the End in Mind: Flexibility in Retirement
07:42 Conclusion: Contact for Questions and Topics

In this episode, Ryan Burklo discusses the importance of protection in the form of property and casualty insurance. He highlights how these insurance policies often overlook the individual's net worth and income. Ryan explains the significance of umbrella insurance policies that provide additional liability coverage beyond the standard auto and home insurance policies. He also emphasizes the need to consider high-value items and schedule them on the home insurance policy. Lastly, Ryan suggests creating a video inventory of personal belongings to simplify the claims process in case of a disaster.

Takeaways

Protection of income is often overlooked but is crucial for maintaining lifestyle, goals, and dreams.
Umbrella insurance policies provide additional liability coverage beyond standard auto and home insurance policies.
Consider scheduling high-value items on the home insurance policy to ensure proper coverage.
Create a video inventory of personal belongings to simplify the claims process in case of a disaster.

Chapters

00:00 The Importance of Protecting Your Income
01:27 Understanding Umbrella Insurance Policies
05:05 Scheduling High-Value Items on Home Insurance
07:02 Creating a Video Inventory for Claims

In this episode, Ryan Burklo and Alex Collins discuss the importance of life insurance and how it can protect your family's financial future. They emphasize the need to consider how much life insurance to get based on the number of years of income you want to replace. The hosts use a hypothetical scenario to demonstrate the impact of life insurance on a couple's financial situation. They show that without adequate life insurance coverage, the surviving spouse may face a significant reduction in their standard of living. The episode concludes with a call to action for listeners to evaluate their own life insurance coverage and consider their family's financial needs.

Takeaways

Life insurance is essential for protecting your family's financial future
Consider how many years of income you want to replace when determining the amount of life insurance coverage you need
Without adequate life insurance, the surviving spouse may face a significant reduction in their standard of living
Evaluate your life insurance coverage regularly to ensure it aligns with your family's financial needs

Chapters

00:00 Introduction and Welcome Back
03:05 What Are You Drinking?
05:18 The Replacement of Income
08:03 Calculating the Potential Retirement Savings
13:09 The Impact of Inadequate Life Insurance
16:06 Considering Market Rates of Return
23:04 Taking Action: Evaluating Your Life Insurance Coverage

In this episode, Ryan Burklo discusses distribution tax strategies for retirement planning. He compares two different approaches: an interest-only approach and an amortization/spend-down strategy. He explains the tax implications of each strategy and demonstrates how the spend-down strategy can result in higher net after-tax income. Burklo emphasizes the importance of understanding tax strategies and the location of your money in order to make informed decisions about retirement planning.

Takeaways

Understanding tax strategies is crucial for maximizing net after-tax income in retirement.
The interest-only approach can result in a higher risk of outliving your money.
The spend-down strategy can provide higher net after-tax income, but it carries the risk of depleting your assets.
The location of your money (e.g., traditional IRA, 401k) affects the tax implications of your retirement income.
Having different buckets of money taxed differently allows for more tax-efficient strategies in retirement planning.

Chapters

00:00 Introduction: Distribution Tax Strategies for Financial Success
02:22 Retirement Concerns: Running Out of Money and Health Expenses
06:24 The 4% Rule: A Common Approach with Low Risk of Outliving Money
08:49 The Tax Implications of the Interest-Only Approach
09:30 The Spend-Down Strategy: Amortizing Assets for Higher Income
11:31 Tax Comparison: Interest-Only Approach vs. Spend-Down Strategy
14:30 Mitigating Risk: Combining Strategies and Asset Allocation
18:02 Creating Tax-Efficient Strategies with Different Buckets of Money
18:53 Conclusion: Understanding Tax Strategies for Retirement Planning

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

In this episode, Ryan Burklo and Alex Collins discuss risk and volatility in investment portfolios. They emphasize the importance of investing for future income and the need to get the allocation and risk profile right. They explore the concept of volatility and how it relates to the movement of money in investment accounts. They also discuss the traditional two-legged stool model of investing in stocks and bonds, and the need to bring back a three-legged stool model that includes cash. They highlight the flexibility and choice that cash provides in managing unexpected expenses and investment opportunities. The episode concludes with a question for listeners about the number of legs in their financial stool. If you would like to learn more about Quantified Financial Partners, please visit our website www.beerandmoney.net

Takeaways

Investing is important for future income and financial security.
Getting the allocation and risk profile right is crucial.
Volatility refers to the movement of money in investment accounts.
The traditional two-legged stool model of investing in stocks and bonds may not provide enough flexibility and choice.
Including cash in the investment portfolio can provide a buffer and allow for better allocation and risk management.
Having cash on hand is essential for managing unexpected expenses and investment opportunities.

Chapters

00:00 Introduction and Importance of Investing
02:28 Investing in 401k and Risk Profile
07:42 Understanding Bonds and Volatility
09:34 The Importance of Cash in Allocation
13:03 Flexibility and Choice Provided by Cash
15:23 Managing Unexpected Expenses and Investment Opportunities