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Retire With Ryan

By: Ryan R Morrissey
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  • Summary

  • If you’re 55 and older and thinking about retirement, then this is the only retirement podcast you need. From tax planning to managing your investment portfolio, we cover the issues you should be thinking about as you develop your financial plan for retirement. Your host, Ryan Morrissey, is a Fee-Only CERTIFIED FINANCIAL PLANNER TM who lives and breathes retirement planning. He’ll be bringing you stories and real life examples of how to set yourself up for a successful retirement.
    2020 Retirewithryan.com. All Rights Reserved
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Episodes
  • Top Tax Mistakes to Avoid with Steven Jarvis, #207

    Top Tax Mistakes to Avoid with Steven Jarvis, #207
    Jun 25 2024
    What are some of the biggest tax mistakes you should be avoiding when you file taxes? CPA Steven Jarvis has worked on thousands of tax returns. He focuses on helping people who have a long-term focus. He wants to make sure his clients only pay every dollar they owe and nothing more. It’s not about getting a big tax return. It’s about looking at the long-term picture and being proactive. We dig in and dissect the top tax mistakes you need to avoid in this conversation. You will want to hear this episode if you are interested in... [3:02] Making proactive choices to impact your taxes[4:47] Learning about the foreign tax credit[6:43] Rollovers from 401Ks to IRAs[11:01] Equity compensation and severance pay[13:07] Managing advanced charitable giving strategies[21:10] What you need to know about HSAs[26:32] Pay what you owe—and nothing more Rollovers from 401Ks to IRAs You’ll likely roll over a 401K to an IRA only once or twice in your life. In theory, it should be simple—as long as the rollover is treated as a non-taxable event. It needs to be reported on a 1099-R form, which can be confusing. Tax-adjacent events go on your tax returns but you should not be taxed on them. If you’re working with a tax professional, you need to communicate that you’re doing a rollover. Before the tax return is filed, make sure you look it over to see if your income changed. If it has—and it shouldn't have—a rollover being improperly filed may be the culprit. Managing advanced charitable giving strategies A qualified charitable distribution (QCD) allows you to make a charitable contribution directly from an IRA to a charity. If you donate $1,000, you may save $200–$300 in taxes. If it’s a charity that you care about, great. But if you’re not charitably inclined, spending $1,000 to save $300 doesn’t make sense. But there are some other tax benefits. A QCD comes out of your income before your adjusted gross income is calculated. Why does that matter? Your adjusted gross income is part of the calculation to determine how much you pay for Medicare. Reporting this correctly is key. Most custodians don’t report how much money went to a charity because the IRS hasn’t created a way for them to do it. That’s why you (or your financial planner) must provide this information when your taxes are filed. I will send a breakdown of QCDs, distributions, etc. to my clients so they can report it properly. What you need to know about HSAs Steven sees people penalized for over-contributing to HSAs because the form (8889) is confusing and people fill it out incorrectly. That’s the #1 thing you have to watch out for with these. One of the advantages of an HSA is that it can grow tax-free. If you can pay medical expenses from another source while funding the HSA, you’ll also get a tax deduction. If you don’t need the money for qualified medical expenses down the road, you’ll just have to pay taxes on the money (which you can remove at age 65 without any penalties). If you keep track of your HSA-eligible expenses as you go, and have sufficient documentation, you can also request reimbursement for things that happened in the past. What other issues does Steven find himself correcting frequently? Learn other tax mistakes to avoid in this episode. Resources Mentioned Retirement Readiness ReviewSubscribe to the Retire with Ryan YouTube ChannelRetirement Tax Services PodcastSteven’s book, “Don’t Get Killed on Taxes”Connect with Steven on LinkedIn Retirement Tax Services Connect With Morrissey Wealth Management www.MorrisseyWealthManagement.com/contact Subscribe to Retire With Ryan
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    29 mins
  • Understanding Current Trends in ETFs with Matthew Bartolini, CFA, CAIA, #206

    Understanding Current Trends in ETFs with Matthew Bartolini, CFA, CAIA, #206
    Jun 18 2024

    What are the current trends with ETFs? What’s happening in the fixed-income market? How can investors tackle current challenges? Matthew Bartolini, CFA, CAIA—the head of ETF Research at State Street Global Advisors—joins me to dissect the ETF market and how investors can handle volatility.

    Matthew believes the ETF market will only continue to grow and create opportunities for long-term wealth. He shares how to navigate the factors that impact the market—including Federal Reserve policy, elections, and general trends—in this episode of Retire with Ryan.

    You will want to hear this episode if you are interested in...
    • [1:30] Learn more about Matthew and State Street
    • [2:27] The research on investing and election years
    • [4:54] The current trends in Exchange-Traded Funds (ETFs)
    • [9:20] What’s happening in the bond market
    • [11:21] Balancing risks while prioritizing diversification
    • [13:52] Understanding volatility and yield curves
    • [15:37] Why not put all of your money into corporate bonds?
    • [17:19] The uncertainty we’re facing with the Fed
    • [20:42] Build a strong foundation for your future
    Resources Mentioned
    • Retirement Readiness Review
    • Subscribe to the Retire with Ryan YouTube Channel
    • Connect with Matthew Bartolini on LinkedIn
    • ETF Costs and More with Matthew Bartolini
    • Advanced ETF Concepts with Matthew Bartolini
    • Elections and Equities: The Impact of the US Election on Sector Investing
    • Get more information on trends at SSGA.com
    Connect With Morrissey Wealth Management

    www.MorrisseyWealthManagement.com/contact



    Subscribe to Retire With Ryan
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    24 mins
  • How to Evaluate if Your Financial Advisor Is Delivering Value, #205

    How to Evaluate if Your Financial Advisor Is Delivering Value, #205
    Jun 12 2024

    How do you know if your financial advisor is delivering value? Is seeing a financial gain in your investments the only metric you should use? I’ve identified four key areas where your financial advisor should be delivering value to you: Awareness of costs and fees, performance of your portfolio, financial planning benefits, and communication.

    I’ll cover each of these areas in detail in this episode. I’ve also included a checklist you can use to make sure your current financial advisor is delivering value.

    This is Part 5 of a five-part series about financial planners to celebrate the release of my first book, “Fiduciary: How to Find, Hire, and Establish a Trusted Partnership with a Fee-Only Advisor.”

    You will want to hear this episode if you are interested in...
    • [3:03] Area #1: Awareness of costs and fees
    • [9:25] Area #2: How your investments perform
    • [15:32] Area #3: The financial planning provided
    • [17:54] Area #4: Communication
    Resources Mentioned
    • Retirement Readiness Review
    • Subscribe to the Retire with Ryan YouTube Channel
    • Head to RetireWithRyan.com to get this free checklist
    Connect With Morrissey Wealth Management

    www.MorrisseyWealthManagement.com/contact

    Subscribe to Retire With Ryan
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    22 mins
Economics Personal Finance
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