Podcasts

What Can Trigger an IRS Audit – Episode 167
Managing Your Financial Future

What Can Trigger an IRS Audit – Episode 167

March 19, 2024

If you’ve ever gotten a letter from the IRS, even if you’re sure you’ve done nothing wrong, you know how stressful that can be.  An even greater stress would be to see the word “audit” somewhere in the letter. Your best bet is to be thorough enough on your tax return so as to avoid any and all correspondence with the IRS when it comes to your taxes.  But how do you do that?  Are there things that could actually trigger a letter and/ or a potential audit?
Why (Almost) Everyone Needs an Estate Plan – Episode 166
Managing Your Financial Future

Why (Almost) Everyone Needs an Estate Plan – Episode 166

February 27, 2024

Do you care what happens to your money and your assets after you die?  Most people would probably answer that with an emphatic “yes,” even if they don’t have multiple millions saved up.   Whether you know exactly where you want your money to go, or you only know where you DON’T want your money to go, it’s crucial to have the legal documents in place to make sure your wishes are followed.  Today’s podcast features our special guest, San Diego Estate Planning Attorney Rod Hatley, J.D. LL.M., as we talk about what to expect when setting up an estate plan, what they cover, and why it’s so important to have everything in order. 
A Peek Inside a Bucket Strategy – Episode 165
Managing Your Financial Future

A Peek Inside a Bucket Strategy – Episode 165

February 20, 2024

“Everyone’s situation is different.” If you’re a regular listener to this podcast, you’ve heard that many times. Because of that, the Bucket Strategy® can take many different forms, each one dependent on a person’s individual goals, risk tolerances, and temperaments. Have you ever wondered how an advisor might put together someone’s strategy, given certain particular circumstances?  What thought processes would an LCG advisor (like Rick Plum) go through to set up a strategy that may work the best for someone? Find out what a hypothetical married couple with two 401k plans and a $40,000 income need may expect to see with their Bucket Strategy®
How to Make Use of the Zero-Percent Tax Bracket – Episode 164
Managing Your Financial Future

How to Make Use of the Zero-Percent Tax Bracket – Episode 164

February 13, 2024

If you look at the tax tables, you’ll see that there are seven different tax brackets listed: 10%, 12%, 22%, and on up to the highest bracket at 37%.  But did you know that there’s also a certain amount of money you can earn that’s not taxed at all?   While there’s not an official “0% tax bracket,” the truth is that the first $14,600 you earn as a single individual (or $29,200 if you’re married filing jointly) is yours to keep tax-free, thanks to the Standard Deduction.  Sure, that’s not a huge amount of money, but it’s also not insignificant, and there are ways you can use this part of the tax code to your advantage.  Find out how the “Zero-Percent Tax Bracket” can potentially benefit you in a big way
Is a Fixed Annuity a Better Alternative to Bonds? – Episode 163
Managing Your Financial Future

Is a Fixed Annuity a Better Alternative to Bonds? – Episode 163

February 6, 2024

Today’s topic is a follow-up to a similar discussion we had on this podcast in late 2022.  Back then, interest rates had risen as bond values (and stock values) took a nosedive. The question at the time was: where should you go for your “non-volatile” asset class, if bonds don’t seem as attractive? Now that interest rates have somewhat stabilized, but remain higher than they were for the previous 12-plus years, the same question needs to be asked, but with a twist: Are higher-interest bonds more attractive than what you might get from a CD-like fixed annuity?
What Is Your RMD Withdrawal Strategy?- Episode 162
Managing Your Financial Future

What Is Your RMD Withdrawal Strategy?- Episode 162

January 30, 2024

A few episodes ago we talked about how to keep your tax bill down when planning for Required Minimum Distributions (RMDs). After that show aired, we received a good question from a listener in Arizona who wanted to know what a good withdrawal plan would be for someone who is actually taking their RMDs. For example, would it be prudent for someone to sell stocks in their IRA to satisfy their RMD when doing so may violate a key principle of the LCG Bucket Strategy® that says you should never sell a long-term asset to cover a short-term liability? Do all RMDs have to be taken in cash?
Why Risk and Volatility Are Not the Same, and Why That Matters to You- Episode 160
Managing Your Financial Future

Why Risk and Volatility Are Not the Same, and Why That Matters to You- Episode 160

January 16, 2024

What creates fear and anxiety when it comes to stock market investing?  Usually, it’s when the markets are behaving erratically.  Put another way, it’s when the markets are volatile.  Or to put it yet another way, it’s during virtually every short-term measurable time period. Stocks are always volatile in the short run.  But stock market investing should never be a short-term play.  So why does volatility get all the headlines?  The more important aspect of stock market investing should not be trying to manage volatility (because you can’t); rather, it’s about managing risk. What’s the difference, and why does it matter to you?
Why Having Protected Income Is Vital in Retirement- Episode 159
Managing Your Financial Future

Why Having Protected Income Is Vital in Retirement- Episode 159

January 9, 2024

One of the most valuable things you can have, both before and after you retire, is a steady stream of income. What makes it more valuable to you is if that income is protected (meaning “guaranteed”) by some entity, like the federal government, the PBGC, or the claims-paying ability of an insurance company. Two forms of protected income that people generally receive at retirement are Social Security and pensions. These, either together or separately, form the basis of your financial plan and can help determine how much extra income (if any) your nest egg will need to provide for you. In other words, the more protected income you have, the less you’ll have to rely on your savings.
Is Right Now a Good Time to Do a Roth Conversion?- Episode 158
Managing Your Financial Future

Is Right Now a Good Time to Do a Roth Conversion?- Episode 158

January 2, 2024

Converting your traditional IRA to a Roth IRA is not a decision that should be taken lightly. While tax-free growth is always nice, sometimes the price you have to pay – mostly income taxes on the conversion – makes it not worth doing. But for many people, right now may be the perfect time to convert their pre-tax funds into a Roth. How do you know if and when you should make the move? Are there other considerations besides having to pay taxes right now that may sway you one way or the other? These are important questions. 
How to Retire in Any Market Conditions – Episode 157
Managing Your Financial Future

How to Retire in Any Market Conditions – Episode 157

December 19, 2023

Many people have a retirement savings goal in mind, a level of money that they believe is enough. Once they reach that goal, they feel they’re ready to retire.  And that’s a good plan.   But what happens if your nest egg takes a big hit from the stock market just after you hang it all up for good? Do you really have to either go back to work, or maybe take less of an income in order to make your savings last?   
Why You Need the Right Portfolio Withdrawal Strategy- Episode 156
Managing Your Financial Future

Why You Need the Right Portfolio Withdrawal Strategy- Episode 156

December 12, 2023

People tend to focus a lot of their attention on building their nest egg: which investment strategies to use in order to achieve a good rate of return.  But surprisingly little notice is given to how you should extract that money at retirement.  And this may be the more important aspect. No matter how much money you accumulate over your lifetime, if you’re careless with how it’s eventually spent, it could be gone well before your time is up.  So how do you potentially make your money last at least as long as you do? Learn what you need to know about portfolio withdrawal strategies — like Buckets