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