In retirement, your income source is different than it was during your working years. With inflation and market fluctuations to consider, how can you build an income plan that is strong and stable? Alan and Troy share what a comprehensive retirement income plan looks like and what kind of accounts you want to draw from first.

Then, they talk through strategies around Roth conversions. Is it right for you? While there are limits to how much you can contribute to a Roth IRA each year, does that rule apply for Roth conversions? What kind of impact could it have on your taxes or Medicare? Bottom line: talk with a financial advisor to determine the right next steps for you and your unique situation.

Here’s some of what we discuss in this episode:

• Mailbag: Starting Social Security at age 70?
• Mailbag: Can I do a Roth conversion for any amount of money?
• Past performance is not the same as future results.
• Why working with a financial advisor matters.

Get additional financial resources here: https://mercurioadvisors.com/podcasts/

It’s easy to be taken in by half-truths in the financial world without understanding the whole truth. Troy breaks down some of these commonly held beliefs to provide clarity and advice for your financial future. He dives into misconceptions about market losses, portfolio fees, mortgage interest rates, and diversification strategies. Through real-life examples and expert analysis, you’ll learn valuable insights to help you navigate your retirement planning with confidence.

One of the most memorable takeaways from the episode is the analogy used to describe diversification: "You don't want all your eggs in one basket, but you want all your baskets on the same table." This means diversifying your investments while keeping them within a manageable framework, making it easier for you and your loved ones to handle your affairs as needed.

Here’s some of what we discuss in this episode:

• “The market always goes up in the long-run.”
• “The fees are less than one percent.”
• “It’s better to invest money than pay off your mortgage.”

Get additional financial resources here: https://mercurioadvisors.com/podcasts/

Yogi Berra, hall of fame baseball player and legendary catcher for the New York Yankees, was known not only for his athletic abilities but also for his witty and often paradoxical sayings. These quotes provide a unique lens through which we can view and understand the complexities of financial planning.

One of the standout quotes discussed in the episode is, "I never said most of the things I said." This quote reminds us to be cautious about the promises and information we receive, especially when it comes to financial products and services. Alan and Troy emphasize the importance of working with a knowledgeable advisor who can provide a clear and honest assessment of your retirement plan. One way to start is with Troy’s book, “Retirement 360 Game Plan.”

Here’s some of what we discuss in this episode:

• A lot of retirement plans are lacking a little bit in actual plans.
• Everything is costing a lot more because of inflation.
• One of the biggest concerns most people have: taxes in retirement.
• The basic questions to ask about Social Security and pension options.
• What’s in the “Retirement 360 Game Plan” and how it could help you.

Get Your Retirement Toolkit Today:

https://financeinsights.net/QAZxC84drU0k6B

Get additional financial resources here: https://mercurioadvisors.com/podcasts/