Research shows the average American changes jobs 12.3 times before retirement, meaning many Americans have old 401(k) plans that aren’t properly allocated for retirement. When you leave your employer, what options do you have when it comes to your 401(k)? You can roll it over, keep it, consolidate it, or cash it out. What move is best for your retirement plan will depend on your situation and overall financial plan.

Rolling over your 401(k) plan from your employer plan can give you a lot more options when it comes to investing and planning for the future. On today’s episode, we are going to explore 401(k) and IRA rollovers and discuss the options you have when it comes to strategic retirement planning.  

Helpful Timestamps:

0:26 – It’s tax time!

2:36 – What are your options with an old 401(k)?

6:50 – You may be limited in your employer plan

8:24 – Why would you change your plan?

11:55 – Difference between traditional IRA and Roth IRA

14:15 – A lot of different moving parts

15:46 – Good reasons to keep the plan you have

17:17 – Is there a good reason to cash out your 401(k)?

18:02 – Safe options are important

19:34 – Variable products versus fixed products

23:01 – Question: “Defined benefit plan vs. a defined contribution plan?”

Website: https://www.nationalretirementgroup.org/podcast

Email: info@nationalretirementgroup.org

Phone: 888-401-0107

With inflation on a steady rise and higher prices impacting many pre-retirees and retirees, you may need to re-evaluate how you’re spending and stretching your budget. On today’s episode, Blake and Mark are going to discuss some ways you can save and help your budget during this inflationary period.

Firstly, you want to calculate your net income to truly understand how much you can spend on a monthly basis. Some things are negotiable, while others like your mortgage probably aren’t. So, it’s important to find the happy balance between saving money and continuing to do the things that are important to you. Let’s explore this concept and some areas you can look at cutting costs.  

Helpful Timestamps:

0:33 – Did you have a good St. Patty’s?

3:30 – Inflation is on a steady rise

5:45 – Non-negotiable versus negotiable

7:54 – Ways you can cut costs?

10:56 – Budgeting with insurance

12:35 – Groceries are also going up!

14:52 – Make sure you get what you need

16:25 – Set a date to check on your progress

19:17 – Question: “Discretionary versus required expense?”

Website: https://www.nationalretirementgroup.org/podcast

Email: info@nationalretirementgroup.org

Phone: 888-401-0107

Are you turning 65 soon and are you planning on signing up for Medicare supplements? We are joined by Gene Stracener today to discuss the importance of Medicare supplements and why they may be a great option for you.

Medicare is a traditional type of insurance for that are 65+. It covers hospital visits, surgeries, doctor visits, and more. While it doesn’t cover every healthcare cost, supplements are a great way to get the most out of Medicare. On today’s show, Gene and Mark will explore supplements, Medicare Advantage plans, the questions you should be asking your agent, and more.

Helpful Timestamps:

0:28 – Gene’s background

1:13 – Brief summary of Medicare

3:04 – What are supplements?

5:22 – Medicare advantage plans

7:05 – What questions should you be asking

9:12 – Medicare versus the supplements

12:34 – Pre-existing limitations

14:04 – Don’t try to do this on your own

15:46 – Supplements do different things

18:20 – Matching your old employer plan

20:06 – Basic similarities in Medicare Advantage

21:58 – What is the cost of these plans?

23:34 – Don’t be your own agent!

23:48 – How many insurance cards with Medicare Advantage?

Website: https://www.nationalretirementgroup.org/podcast

Email: info@nationalretirementgroup.org

Phone: 888-401-0107

Annuities can be a mysterious retirement tool. Some people love them and others are wary. What is the truth about annuities and can they really help you in your retirement plan? A lot of people only understand blanket statements about annuities and don’t understand how expansive the different types of annuities are. But most financial planners would agree that an annuity can fit very well in a pre-retiree or retiree’s portfolio. 

All annuities are tax-deferred, meaning the interest is tax-deferred and helps the growth of your account while also keeping your current tax burden down. Annuities can guarantee a significant part of your income stream in retirement. On today’s episode, we’ll recap what an annuity actually is, the different types of annuities, and the tax advantages annuities can offer in your retirement plan and financial future. 

Don’t miss out on our NRG resources and upcoming live workshops: https://www.nationalretirementgroup.org/

Helpful Timestamps:

0:40 – Resources and live workshops coming up

3:39 – Advantages of annuities

7:10 – What is an immediate annuity?

7:54 – Annuities are tax-deferred

9:11 – What is an income annuity?

10:35 – Can they keep your tax burden down?

12:30 – Expand on the bucket approach

13:54 – How lifetime income streams work

15:34 – When will taxes go up for Roth conversions?

17:06 – Question of the day – “Can you amend tax returns?”

Website: https://www.nationalretirementgroup.org/podcast

Email: info@nationalretirementgroup.org

Phone: 888-401-0107

Did you know there is a difference between preparing for tax season and planning for taxes? You probably are collecting your information for this upcoming tax season already; this is tax preparation.

But looking ahead into 2022 is your opportunity to do some tax planning. What different tax codes can you take advantage of to have a more diversified tax plan in the future? The key is to find which tax laws fit your situation and how you work these into your overall financial plan. On today’s episode, Tony and Mark sit down to explore some ways you could possibly save on taxes in 2022 and beyond. If you have questions about your retirement plan or tax strategy reach out to us at https://www.nationalretirementgroup.org/ or 888.401.0107.

Helpful Timestamps:

0:53 – A bit about our background

2:41 – Preparing vs planning for taxes

5:40 – What is maxing out your retirement plan?

13:08 – Always check with your CPA

15:04 – Handling a 403(b)

20:08 – Invest for where you are in life

22:27 – Question: “What’s the difference between tax planning and tax preparing?”

Website: https://www.nationalretirementgroup.org/podcast

Email: info@nationalretirementgroup.org

Phone: 888-401-0107

Are you worried about outliving your money? Looking into an annuity may be an option to sustain the longevity of your retirement plan. If Social Security and pensions won’t cover your monthly income in retirement, what options do you have?

There are different types of annuities that can match different situations. Perhaps you want to stay home in your later years instead of going into a long-term care facility, we’ll discuss how annuities can help you finance that goal. On today’s episode, we’ll discuss annuities and how they can benefit your plan.

Helpful Timestamps:

2:51 – Longevity risk with annuities

4:40 – Investing in an annuity

5:54 – Outliving your money

8:39 – A deferred vs. immediate annuity

10:55 – Protecting your portfolio

12:20 – Keeping a legacy

14:23 – Staying at home

15:28 – Question: One-word definition of an annuity

Website: https://www.nationalretirementgroup.org/podcast

Email: info@nationalretirementgroup.org

Phone: 888-401-0107

Are you prepared for this upcoming tax season? A new tax landscape is taking shape for 2022 so it’s important you prepare now. If you are concerned about owing a lot of money this year, what can you do to reduce that burden?

You may be missing out on some tax credits for your retirement savings. Or perhaps you should take an itemized deduction versus a standard deduction, it’ll depend on your situation. On today’s episode, join us as we start our discussion on some possible ways to prepare your finances for the 2022 tax season.

Helpful Timestamps:

0:22 – Hello and Happy New Year!

2:11 – What’s ahead for 2022?

5:36 – Tax credits for retirement savings

7:52 – Contributing to a tax-deductible IRA

9:37 – Itemized deductions vs. standard deductions

12:18 – Keeping your income down

14:54 – Credits for education

15:57 – Ways to reduce your taxes?

17:15 – Home office tax deductions

18:16 – File and pay on time

19:10 – Filing date until April 18th

20:30 – Question: Is life insurance tax-free?

Website: https://www.nationalretirementgroup.org/podcast

Email: info@nationalretirementgroup.org

Phone: 888-401-0107

What are some proposed tax changes and how could they impact you? On today's show, we'll discuss some tax proposals currently working their way through Congress. A lot of money is being printed and we are supporting a variety of programs, we'll have to pay for it. 

The top tax rates will probably be going up. Expect changes to long-term capital gains, lifetime exemptions, step-up costs, and more. We'll discuss tax consequences on different retirement accounts as well as life insurance, and some things you should think about before 2021 comes to an end. While none of these changes are set in stone, we want you to be prepared for what the future may hold.

Helpful Timestamps:

0:31 – The Holiday’s are upon us

3:18 – Biden’s tax proposals

6:11 – Consequences on different accounts

8:20 – Life insurance as a cash value

10:35 – Things you can do before the end of the year

Website: https://www.nationalretirementgroup.org/podcast

Email: info@nationalretirementgroup.org

Phone: 888-401-0107