Retire With Style podcast

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A tartalmat a Wade Pfau & Alex Murguia, Wade Pfau, and Alex Murguia biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Wade Pfau & Alex Murguia, Wade Pfau, and Alex Murguia vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.

Talkin‘ Politics & Religion Without Killin‘ Each Other

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David French | Friends or Enemies? Overcoming Divides with Justice, Kindness, and Humility in a Polarized America 1:15:36

18 napja1:15:36

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Listák

Tetszik

Kedvelt

1:15:36

In this episode, we welcome back David French, columnist for The New York Times , former constitutional attorney, and author of Divided We Fall . We discuss the current state of American democracy, the challenges of political division, and how we can engage in civil discourse despite deep ideological differences. David also shares a personal update on his family and reflects on the profound trials and growth that come with adversity. 📌 What We Discuss: ✔️ How David and his family navigated the challenges of a serious health crisis. ✔️ The rise of political polarization and the factors driving it. ✔️ Why distinguishing between “unwise, unethical, and unlawful” is crucial in analyzing political actions. ✔️ How consuming different perspectives (even opposing ones) helps in understanding political dynamics. ✔️ The role of Christian values in politics and how they are being redefined. ⏳ Episode Highlights 📍 [00:01:00] – David French’s background and his journey from litigation to journalism. 📍 [00:02:30] – Personal update: David shares his wife Nancy’s battle with cancer and their journey as a family. 📍 [00:06:00] – How to navigate personal trials while maintaining faith and resilience. 📍 [00:10:00] – The danger of political paranoia and the pitfalls of extreme polarization. 📍 [00:18:00] – The "friend-enemy" paradigm in American politics and its influence in Christian fundamentalism. 📍 [00:24:00] – Revisiting Divided We Fall : How America’s divisions have devolved since 2020. 📍 [00:40:00] – The categories and differences of unwise, unethical, and unlawful political actions. 📍 [00:55:00] – The balance between justice, kindness, and humility in political engagement. 📍 [01:00:00] – The After Party initiative: A Christian approach to politics focused on values rather than policy. 💬 Featured Quotes 🔹 "You don't know who you truly are until your values are tested." – David French 🔹 "If we focus on the relational, we can have better conversations even across deep differences." – Corey Nathan 🔹 "Justice, kindness, and humility—if you're missing one, you're doing it wrong." – David French 🔹 "The United States has a history of shifting without repenting. We just move on." – David French 📚 Resources Mentioned David French’s Writing: New York Times David’s Book: Divided We Fall The After Party Initiative – More Info Advisory Opinions Podcast (with Sarah Isgur & David French) – Listen Here 📣 Call to Action If you found this conversation insightful, please: ✅ Subscribe to Talkin' Politics & Religion Without Killin' Each Other on your favorite podcast platform. ✅ Leave a review on Apple Podcasts, Spotify, or wherever you listen: ratethispodcast.com/goodfaithpolitics ✅ Support the show on Patreon: patreon.com/politicsandreligion ✅ Watch the full conversation and subscribe on YouTube: youtube.com/@politicsandreligion 🔗 Connect With Us on Social Media @coreysnathan: Bluesky LinkedIn Instagram Threads Facebook Substack David French: 🔗 Twitter | BlueSky | New York Times Our Sponsors Meza Wealth Management: www.mezawealth.com Prolux Autogroup: www.proluxautogroup.com or www.granadahillsairporttransportation.com Let’s keep talking politics and religion—with gentleness and respect. 🎙️💡…

Retire With Style

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The purpose of Retire With Style is to help you discover the retirement income plan that is right for you. The first step is to discover your retirement income personality. Your hosts Wade Pfau, PhD, CFA, RICP and Alex Murguia, PhD walk you through creating and implementing a retirement plan that will help you reach your goals, and that you’ll be able to stick with. Start by going to risaprofile.com/style and sign up to take the industry’s first financial personality tool for retirement planning.

171 epizódok

#Trading #Business #Wade Pfau & Alex Murguia #Alex Murguia #Wade Pfau #Podcasting Education

Retire With Style

29 subscribers

updated 2 napja

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Sorozat kép•Feed

171 epizódok

#Trading #Business #Wade Pfau & Alex Murguia #Alex Murguia #Wade Pfau #Podcasting Education

Όλα τα επεισόδια

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Episode 171: Unlocking the Secrets of Bond Laddering 49:57

2 napja49:57

49:57

In this episode of Retire with Style, hosts Alex Murguia and Wade Pfau are joined by Nate Conrad from Lifex Funds to discuss the innovative approach to retirement income through bond ladders. The conversation explores the evolution of Lifex, the differences between traditional bond funds and bond ladders, and the design of Lifex ETFs aimed at providing consistent income for retirees. They delve into the behavioral aspects of investing in bonds, the practical applications of bond ladders in retirement planning, and the complexities involved in constructing a bond ladder. The episode emphasizes the importance of aligning investment strategies with retirement income needs and the benefits of using Lifex's products for a more stable financial future. They discuss the importance of simplifying investment processes to enhance accessibility for investors. The conversation also touches on income distribution strategies, emphasizing the benefits of front-loading income and the tax implications of different spending methods. They end the episode with listener questions that provide practical insights into managing surplus wealth and the appropriate investment strategies for different funding ratios. Listen now to learn more! Takeaways Lifex has evolved to focus on retirement income through bond ladders. Bond ladders provide predictable income compared to traditional bond funds. The design of Lifex ETFs allows for monthly distributions to match spending needs. Lifex ETFs are structured to adapt to the spending patterns of retirees. The importance of managing long-term bond investments for retirement planning. Constructing a bond ladder manually can be complex and time-consuming. Using Lifex products simplifies the bond laddering process for investors. Retirement income strategies should prioritize stability and predictability. Simplifying investment strategies can lead to better adoption. Bond laddering can provide more predictable income than bond funds. Using a bond ladder can allow for higher spending rates in retirement. Surplus wealth can be invested more aggressively once basic needs are met. Chapters 00:00 Introduction to Retirement Income Bond Ladders 02:51 The Evolution of Lifex and Its Offerings 06:09 Understanding Bond Ladders vs. Bond Funds 09:11 Designing Lifex ETFs for Retirement Income 12:01 Managing Long-Term Bond Investments 15:06 Behavioral Aspects of Bond Investing 18:06 Practical Applications of Bond Ladders in Retirement 20:56 The Complexity of Building a Bond Ladder 24:58 The Importance of Simplifying Investment Strategies 29:51 Understanding Bond Laddering vs. Bond Funds 36:30 Exploring Income Distribution Strategies 41:13 Listener Questions and Practical Applications Links The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/ . Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips…

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Episode 170: The Importance of Your Planning Assumptions Part 2 29:42

10 napja29:42

29:42

Welcome Back! In this episode, Alex, Wade and Brian dive into the complexities of financial planning, focusing on return assumptions, the importance of a living financial plan, and the methodologies behind capital market assumptions. They discuss the balance between spending and saving in retirement, the relevance of the 4% rule, and practical recommendations for effective financial planning. The conversation emphasizes the need for stress testing and understanding the underlying assumptions in financial models to ensure realistic and effective planning. Listen now to learn more! Takeaways Return assumptions can be based on historical or expected returns. The financial plan should be treated as a living document that evolves over time. Methodologies for capital market assumptions can vary significantly between firms. The 4% rule is less relevant in modern financial planning than it used to be. Stress testing financial plans helps to understand potential outcomes and risks. Communication with clients about their financial goals is essential. Understanding the math behind financial planning is as important as the goals themselves. Advisors should guide clients in making informed decisions about spending and saving. Chapters 00:00 Historical vs. Expected Returns in Planning 04:14 Building Capital Market Assumptions 07:15 Balancing Lifestyle and Financial Planning 11:01 Understanding Spending Behavior in Retirement 13:36 The Relevance of the 4% Rule 17:26 Practical Recommendations for Financial Planning Links Click here to watch this episode on YouTube: https://youtu.be/R1dNHo3BDNA?si=RiNVF21TG9Zh4Npf The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”…

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Episode 169: The Importance of Your Financial Planning Assumptions: Part 1 31:00

17 napja31:00

31:00

In this episode, Alex and Wade are joined by Brian Bass from McLean Asset Management to discuss the complexities of financial planning assumptions, particularly focusing on Monte Carlo simulations and their implications for success rates in retirement planning. They discuss how different advisors may present varying success rates based on their underlying assumptions, emphasizing the importance of understanding them for consumers. Key topics include the significance of capital market assumptions, the magnitude of failure in financial plans, and the necessity for transparency and communication between advisors and clients. The conversation aims to equip listeners with the knowledge to critically evaluate financial plans and ask the right questions when consulting with advisors. Listen now to learn more! Takeaways Consumers often lack awareness of the assumptions behind financial plans. Monte Carlo simulations are a common tool in financial planning. Success rates can be misleading without understanding underlying assumptions. Small changes in return assumptions can significantly impact success rates. Transparency in financial planning is crucial for informed decision-making. Clients should ask advisors about the inputs used in their financial plans. Different advisors may use varying assumptions leading to different outcomes. Understanding capital market assumptions is key to evaluating financial plans. Effective communication of financial concepts is essential for client understanding. Chapters 00:00 Introduction to Financial Planning Assumptions 02:18 Understanding Monte Carlo Simulations 04:16 The Importance of Assumptions in Financial Planning 06:21 Defining Success Rates in Financial Plans 09:32 Magnitude of Failure vs. Success Rates 10:39 Capital Market Assumptions Explained 14:32 The Role of Returns and Volatility 15:19 Communicating Complex Concepts to Clients 18:29 The Impact of Long-Term Care on Financial Plans 21:33 Key Questions for Consumers to Ask Advisors 23:24 The Sensitivity of Return Assumptions Links Have a question about your financial plan? Schedule a 15-minute call with Jason Rizkallah from McLean Asset Management: https://calendly.com/jason-rizkallah/mclean-asset-management-introduction-call Did you miss the Challenge? Join the Waitlist to be the first one notified when registration is open for the next session of the Retirement Income Challenge: risaprofile.com/podcast Click here to watch this episode on YouTube: https://youtu.be/7Cn0DUxIpvs The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/ . Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips…

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Episode 168: Funded Ratio vs. Monte Carlo: Which is Better? 45:17

23 napja45:17

45:17

In this episode of 'Retire with Style', hosts Alex Murguia and Wade Pfau discuss the importance of understanding the funded ratio in retirement planning. They explore how the funded ratio compares to Monte Carlo simulations, the significance of present value in assessing retirement income, and the implications of conservative return assumptions. The conversation emphasizes the need for a solid financial plan and the upcoming retirement income challenge designed to help participants create their financial strategies. They also discuss the differences between funded ratios and Monte Carlo simulations in retirement planning. They emphasize the simplicity and intuitiveness of funded ratios, which allow individuals to easily understand their financial status. The discussion also covers the importance of variable spending strategies, the complexities of tax calculations, and how to analyze essential versus discretionary expenses. They address listener questions about Roth conversions and the challenges of retirement planning, advocating for a shift towards funded ratios as a more reliable tool for assessing retirement readiness. Listen now to learn more! Takeaways The funded ratio helps assess if you have enough assets to cover retirement liabilities. Monte Carlo simulations and funded ratios approach retirement planning from different angles. Present value calculations are crucial for understanding future income streams. The funded ratio is a powerful tool used by pension funds and can be applied to individual retirement planning. The funded ratio can provide a clearer picture of retirement funding status than Monte Carlo simulations. Future earnings can be included in the funded ratio assessment. The choice of discount rate can significantly impact the funded ratio outcome. It's important to know the difference between current value and present value in retirement planning. The funded ratio is a more intuitive approach than Monte Carlo simulations. Variable spending strategies can be effectively modeled with Monte Carlo. Understanding essential vs. discretionary expenses is crucial for retirement planning. Roth conversions can be beneficial even when working, but require careful consideration. The financial planning profession has largely favored Monte Carlo methods. Chapters 00:00 Introduction and Upcoming Events 02:58 Understanding the Funded Ratio 10:30 Present Value and Retirement Planning 12:23 Conservative Return Assumptions 17:48 Monte Carlo vs. Funded Ratio 20:34 Understanding Funded Ratios vs. Monte Carlo Simulations 25:22 The Role of Monte Carlo in Variable Spending Strategies 27:49 Gathering Information for Funded Ratio Calculations 30:11 Analyzing Funded Ratios for Essential vs. Discretionary Expenses 33:53 The Shift from Monte Carlo to Funded Ratios 39:54 Listener Questions: Roth Conversions and Retirement Planning Links Register to attend Retirement Researcher’s FREE 4-Day Retirement Income Challenge on March 10-13th from 12:00 – 2:00 PM ET each day: https://risaprofile.com/podcast The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/ . Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips…

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Episode 167: Navigating Retirement Goals: The Four L's 37:28

4 weeks37:28

37:28

In this episode of 'Retire with Style', hosts Alex Murguia and Wade Pfau delve into the intricacies of financial planning for retirement. They introduce the concept of a financial planning framework, emphasizing the importance of understanding one's goals, risks, and the alignment of assets. The discussion covers the Retirement Income Challenge, the Retirement Income Optimization Map, and the four key goals of retirement: longevity, lifestyle, legacy, and liquidity. They also explore the various types of income sources, the significance of a diversified portfolio, and how to reposition assets to meet retirement objectives. The episode concludes with a listener question about the Social Security Delay Bridge strategy. Listen now to learn more! Takeaways Financial planning is essential for retirement success. The Retirement Income Optimization Map helps visualize financial goals. Understanding the four L's of retirement is crucial: longevity, lifestyle, legacy, liquidity. Identifying retirement risks can guide financial decisions. Reliable income sources are vital for covering essential expenses. A diversified portfolio can fund discretionary spending and legacy goals. Reserves are important for managing unexpected expenses in retirement. Aligning goals with assets is key to effective financial planning. The funded ratio helps assess retirement preparedness. Cash can be a strategic resource for delaying Social Security benefits. Chapters 00:00 Introduction to Financial Planning Framework 03:08 Retirement Income Challenge Overview 06:03 Understanding the Retirement Income Optimization Map 09:06 Defining Goals: The Four L's of Retirement 12:00 Identifying Retirement Risks 15:04 Aligning Goals with Assets 18:03 Exploring Reliable Income Sources 20:59 Diversified Portfolio and Reserves 23:48 Repositioning Assets for Retirement Goals 26:58 Listener Question: Social Security Delay Bridge Links Register to attend Retirement Researcher’s FREE 4-Day Retirement Income Challenge on March 10-13th from 12:00 – 2:00 PM ET each day: https://risaprofile.com/podcast Click here to download the RIO Map mentioned in today's episode: https://Retirement-Researcher.ontralink.com/tl/504 The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/ . Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips…

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Episode 166: Mastering Your Financial Future: A Framework for Success 35:25

5 weeks35:25

35:25

In this episode of 'Retire with Style', Wade Pfau and Alex Murguia discuss the importance of having a structured financial planning framework, especially in the context of retirement. They explore the psychological aspects of financial planning, including the need for a positive mindset and the impact of behavioral biases on investment decisions. The conversation emphasizes the significance of a systematic approach to financial planning, including techniques like backcasting and considering one's future self. They also address listener feedback regarding Medicare Advantage plans, highlighting the importance of thorough research in making informed decisions about healthcare options in retirement. Listen now to learn more! Takeaways A structured financial planning framework is essential for retirement. Behavioral biases can significantly impact investment decisions. The financial planning process helps mitigate biases and provides clarity. Backcasting is a valuable technique for setting financial goals. Considering your future self can enhance decision-making. Medicare Advantage plans require careful consideration and research. A financial plan serves as a guide during stressful times. Chapters 00:00 Introduction to Financial Planning Framework 03:00 Mindset and Psychological Preparedness for Financial Planning 06:02 Understanding Behavioral Biases in Investing 12:10 The Importance of a Structured Financial Planning Process 17:53 Backcasting and Future Self in Financial Planning 24:12 Listener Feedback and Medicare Advantage Discussion Links Purchase access to Wade's Retirement Researcher Academy Workshop, Using Tax Maps to Enhance Tax Planning Decisions ! Sign up now for one-time fee of $99 to attend the Workshop live on 2/19/25 and have on-demand access to the recording: https://Retirement-Researcher.ontralink.com/tl/500 The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ Register to attend Retirement Researcher's FREE 4-Day Retirement Income Challenge on March 10-13th from 12:00 - 2:00 PM ET each day: https://risaprofile.com/podcast This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”…

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Episode 165: Tax Planning Essentials for Retirees 37:39

6 weeks37:39

37:39

In this episode of 'Retire With Style', hosts Alex Murguia and Wade Pfau delve into the intricacies of tax planning for retirement. They introduce the Retirement Income Challenge, discuss the importance of understanding tax impacts on retirement income, and explore strategies such as Roth conversions and gains harvesting. The conversation also covers the evaluation of 401k versus Roth 401k contributions, maximizing charitable contributions through Qualified Charitable Distributions (QCDs), and addressing listener questions, providing valuable insights for effective retirement planning. Listen now to learn more! Takeaways The Retirement Income Challenge helps participants assess their retirement readiness. Tax planning is crucial for maximizing retirement income. Roth conversions can be beneficial, but gains harvesting at 0% tax rate is also a viable strategy. Understanding the tax implications of income sources is essential for retirees. Qualified Charitable Distributions (QCDs) can significantly reduce tax bills for charitable donations. The TaxMAT calculator workshop will provide practical tools for tax planning. Evaluating 401k versus Roth 401k contributions requires understanding long-term tax impacts. Medical deductions can be affected by income levels and tax planning decisions. Effective tax planning can help avoid higher tax brackets in retirement. Engaging with listeners through questions enhances the podcast experience. Chapters 00:00 Introduction to Retirement Income Challenge 02:58 Exploring Tax Planning Strategies 05:55 Understanding Tax Impacts on Retirement Income 09:11 Roth Conversions vs. Gains Harvesting 12:02 Evaluating 401k vs. Roth 401k Contributions 14:51 Maximizing Charitable Contributions and QCDs 27:46 Listener Questions and Wrap-Up Links Purchase access to Wade's Retirement Researcher Academy Workshop, Using Tax Maps to Enhance Tax Planning Decisions ! Sign up now for one-time fee of $99 to attend the Workshop live on 2/19/25 and have on-demand access to the recording: https://Retirement-Researcher.ontralink.com/tl/500 The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ Register to attend Retirement Researcher's FREE 4-Day Retirement Income Challenge on March 10-13th from 12:00 - 2:00 PM ET each day: https://risaprofile.com/podcast This episode is sponsored by Retirement Researcher https://retirementresearcher.com/ . Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips…

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Episode 164: Investment Insights: What 2024 Taught Us 53:45

7 weeks53:45

53:45

In this episode, Wade Pfau and Alex Murguia review 2024, focusing on the discrepancies between market predictions and actual outcomes. They discuss the impact of prognostications on investment decisions and highlight the unpredictability of markets, emphasizing the importance of a long-term perspective in financial planning. Their conversation discusses the complexities of investing, emphasizing the futility of forecasting market trends and the importance of capturing market returns. They explore various investment strategies, including the significance of risk tolerance, the role of international investing, and the ongoing debate between value and growth stocks. The discussion highlights the necessity of diversification and maintaining a long-term perspective in investment decisions, especially in light of recent market performances and economic indicators. Listen now to learn more! Takeaways The importance of learning from past market predictions. Prognostications can significantly influence investment decisions. Historical performance of the S&P 500 shows the unpredictability of forecasts. Financial education often contradicts the reality of market forecasting. A historical average return may be a more reliable guide than expert forecasts. Successful investing doesn't rely on forecasting. Discipline in capturing market returns leads to better long-term outcomes. International investing still holds value despite recent underperformance. Value stocks have not fundamentally deteriorated despite recent trends. Diversification across asset classes is crucial for risk management. Recent market highs do not guarantee future downturns. Chapters 00:00 Year in Review: Lessons for 2025 07:34 Prognostications and Market Predictions 18:07 The Unpredictability of Markets 19:20 The Fallacy of Forecasting in Investing 20:31 The Importance of Capturing Market Returns 22:20 Risk Tolerance and Investment Strategies 25:22 Market Trends and Economic Indicators 28:13 The Role of International Investing 32:28 Understanding Value vs. Growth Investing 36:37 The Future of Small Cap and Value Stocks 48:37 Conclusion: Diversification and Long-Term Outlook Links The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”…

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Episode 163: 2025 Retirement Planning Guidebook Updates 37:29

8 weeks37:29

37:29

In this episode of 'Retire with Style', hosts Alex Murguia and Wade Pfau discuss significant updates in retirement planning for 2025, including changes to Medicare Part D, Social Security benefits, required minimum distributions (RMDs), and new catch-up contribution limits. They also explore the implications of inflation adjustments on qualified charitable distributions, longevity annuities, and the impact of increased real interest rates on retirement funding. The episode concludes with an announcement of an upcoming webinar focused on retirement spending strategies. Listen now to learn more! Takeaways The new $2,000 cap on out-of-pocket spending under Medicare Part D simplifies healthcare cost planning. Elimination of the windfall elimination provision enhances Social Security benefits for certain retirees. Clarified RMD rules for inherited IRAs require annual distributions for non-spouse beneficiaries after the owner's required beginning date. Catch-up contributions for those aged 60-63 have increased, allowing for greater retirement savings. Qualified charitable distributions (QCDs) have increased to $108,000, providing tax benefits for charitable giving. Real interest rate assumptions have improved, making it easier to meet retirement funding goals. The funded status of retirement plans is positively impacted by higher interest rates, reducing future liabilities. The upcoming webinar will address how much retirees can spend based on updated financial planning strategies. Retirees should adjust their financial plans to incorporate these significant 2025 updates. Understanding these changes is crucial for effective retirement planning and maximizing benefits. Chapters 00:00 Introduction and Updates 03:37 Medicare Part D Changes 07:50 Social Security Updates 12:32 Required Minimum Distributions (RMDs) Clarification 17:46 Catch-Up Contributions for Retirement Plans 20:09 Qualified Charitable Distributions and Longevity Annuities 23:55 Interest Rate Assumptions and Retirement Planning 29:07 Webinar Announcement and Financial Planning Adjustments 34:08 Conclusion and Future Plans Links Want to know more about Wade's updated Retirement Planning Guidebook? Register to attend Retirement Researcher's FREE Webinar, "How Much Do I Need to Retire?" hosted by Wade Pfau on Feb. 4th, 2025 at 2PM ET. Click to register and reserve your spot today: risaprofile.com/podcast To celebrate the latest update of the Retirement Planning Guidebook, we are hosting a GIVEAWAY! Enter for your chance to win a signed copy of the 2025 Revised - Retirement Planning Guidebook and a Retirement Researcher T-Shirt! There will be 3 separate winners. The giveaway closes on February 4th. https://bit.ly/40VlPqp The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/ . Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips…

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Episode 162: Retire with Style Live (not really) Q&A: Part 6 48:57

9 weeks48:57

48:57

In this episode of 'Retire with Style', hosts Wade Pfau and Alex Murguia, are joined by Jason Rizkallah from McLean Asset Management. They continue answering your critical questions surrounding retirement planning, focusing on the nuances of choosing between lump sum and annuity options and asset allocation strategies for retirees. They explore the implications of having reliable income sources like pensions and Social Security, and how these can influence investment strategies. The conversation emphasizes the importance of understanding personal risk tolerance and the unique circumstances of each retiree when making financial decisions. This conversation delves into the complexities of retirement planning, focusing on guaranteed income sources, the implications of the 4% rule, and the nuances of liquidity in retirement funds. The discussion also covers the role of the Pension Benefit Guarantee Corporation, strategies for deciding when to start annuities, and the considerations surrounding frozen pensions and lump sum options. The importance of viewing these decisions within the broader context of an individual's financial plan is emphasized throughout. Listen now to learn more! Takeaways Defined benefit pensions are becoming rare but still relevant in certain areas. Choosing between a lump sum and an annuity requires careful consideration of personal financial goals. Reliable income sources can allow for more aggressive investment strategies in retirement. Pensions and Social Security can be viewed as bond-like income streams. The Retirement Income Style Awareness (RISA) tool can help identify personal preferences for retirement income. Market downturns can significantly impact retirement plans, highlighting the need for careful risk management. Legacy considerations may influence investment strategies, but they are often secondary to ensuring a successful retirement. Guaranteed income can influence asset allocation decisions. Understanding liquidity is crucial for effective retirement planning. The Pension Benefit Guarantee Corporation can alter pension benefits. Frozen pensions may limit future benefits and require careful consideration. Lump sum options can provide flexibility but come with risks. Pension contributions can be counted as part of overall savings. Retirement decisions should be made in the context of a comprehensive financial plan. Chapters 00:00 Introduction to the Q&A Episode 04:57 Lump Sum vs. Annuity: Key Considerations 12:09 Asset Allocation: Stocks vs. Bonds in Retirement 22:53 Understanding Guaranteed Income and Asset Allocation 23:39 Evaluating the 4% Rule and Pension Value 25:23 Liquidity: Technical vs. True Liquidity in Retirement 29:11 Pension Benefit Guarantee Corporation: Implications for Retirees 32:34 Deciding When to Start Your Annuity 36:43 Navigating Frozen Pensions and Lump Sum Decisions 41:53 Counting Pension Contributions Towards Savings Rate Links Want to find out your personalized retirement income style? Click here to take a free RISA: https://risaprofile.com/style/ The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”…

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Episode 161: Retire with Style Live (not really) Q&A: Part 5 53:34

10 weeks53:34

53:34

In this episode of 'Retire with Style', Alex Murguia and Wade Pfau continue answering your questions on various aspects of retirement planning, focusing on the importance of buffer assets, the impact of market volatility, and how to make accurate financial projections. They share personal updates, including plans for a pickleball tour, and delve into the complexities of economic modeling, emphasizing the need for a consistent approach to managing retirement income and expenses. They also discuss the significance of tax efficiency in managing taxable investments and how funded ratios can influence retirement strategies. The dialogue emphasizes the need for consistency in financial planning and the psychological aspects of market awareness. Listen now to learn more! Takeaways Sequence of returns risk is crucial in retirement planning. Having a rules-based framework helps reduce emotional decision-making. Using conservative assumptions can lead to better planning outcomes. Behavioral finance plays a significant role in retirement decision-making. Inflation significantly impacts future budgeting and spending. Building financial tools can be straightforward, but taxes complicate things. The funded ratio helps determine withdrawal strategies in retirement. Lower withdrawal rates correlate with higher funded ratios. Investing aggressively is possible when overfunded. Chapters 00:00 Introduction and Personal Updates 05:30 Understanding Buffer Assets in Retirement Planning 19:54 Projections and Assumptions for Retirement Planning 26:28 Building Your Own Financial Tools 32:35 Investment Tracking and Market Awareness 42:40 Taxable Investments and Funded Ratios Links Want to find out your personalized retirement income style? Click here to take a free RISA: https://risaprofile.com/style/ The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/ . Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips…

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Episode 160: Retire with Style Live (not really) Q&A: Part 4 46:14

11 weeks46:14

46:14

In this episode of 'Retire with Style', hosts Alex Murguia and Wade Pfau engage in a lively discussion about various financial strategies for retirement. They explore the differences between Health Savings Accounts (HSAs) and Roth IRAs, emphasizing the tax advantages of HSAs. The conversation also delves into the implications of investing in Real Estate Investment Trusts (REITs) and the importance of asset allocation. Additionally, they clarify common misconceptions about tax planning for individuals versus married couples, particularly regarding Medicare and Social Security. Alex and Wade also discuss various investment strategies, particularly focusing on Warren Buffett's investment guidelines, stock allocation for retirement, and the importance of preparing for the fragile decade leading up to retirement. They explore the transition to fixed income investments and the significance of understanding individual risk tolerance and retirement styles. The discussion emphasizes the need for a tailored approach to retirement planning, considering both mathematical and psychological factors. Listen now to learn more! Takeaways HSAs offer unique tax advantages over Roth IRAs. Investing in REITs can be beneficial in tax-advantaged accounts. Asset allocation should be prioritized over asset location. Understanding tax traps in retirement is crucial for effective planning. Married couples face similar tax implications as single filers. Collecting medical receipts can lead to significant tax savings. The investment strategy should align with individual financial goals. Communication about financial strategies is essential for clarity. Warren Buffett's investment advice should be contextualized for individual needs. Investing in the S&P 500 is generally more effective than picking individual stocks. The fragile decade before and after retirement is crucial for income planning. A balanced approach to stock and fixed income allocation is essential. Understanding personal risk tolerance is key to retirement success. Transitioning to fixed income should start 5-10 years before retirement. The sequence of returns risk can significantly impact retirement income. Diversification across different asset classes can mitigate risks. Chapters 00:00 Introduction and Small Talk 12:02 Tax Planning in Retirement: Individual vs. Joint Filers 22:29 Understanding Stock Allocation in Retirement 35:38 Transitioning to Fixed Income Investments 43:05 Conclusion and Next Steps Links The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”…

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Episode 159: Retire with Style Live (not really) Q&A: Part 3 27:47

12 weeks27:47

27:47

In this conversation, Wade Pfau and Alex Murguia discuss various aspects of retirement planning, focusing on withdrawal strategies, investment diversification, tax-efficient withdrawals, and the implications of the wash sale rule. They emphasize the importance of having a reliable income stream during retirement and explore different strategies for managing investments and withdrawals to optimize financial security. The discussion also touches on the nuances of taxable versus tax-deferred accounts and the role of annuities in retirement planning. Listen now to learn more! Takeaways Reliable income from pensions can cover basic expenses. Constant percentage withdrawal strategies can lead to volatility. It's beneficial to have a predictable income stream. There are various withdrawal strategies to consider. Investment diversification is crucial for managing risk. Bond funds can provide stability in a portfolio. Tax-efficient withdrawal strategies can optimize tax brackets. Understanding the wash sale rule is important for tax planning. Non-qualified annuities can be beneficial in certain situations. General advice should be tailored to individual circumstances. Chapters 00:00 Withdrawal Strategies: Constant Percentage vs. Variable Spending 11:14 Tax-Efficient Withdrawal Strategies 16:34 Understanding Substantially Identical Securities Links The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/ . Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips…

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Episode 158: Retire with Style Live (not really) Q&A: Part 2 34:50

13 weeks34:50

34:50

In this episode of 'Retire with Style' Alex and Wade continue answering your questions about the various aspects of retirement planning. Their conversation focuses on the implications of the Secure Act 2.0 on SPIA and RMD calculations, the legal responsibilities surrounding RMD miscalculations, strategies for protecting late-life income against inflation, optimizing Social Security payments, and the considerations for Roth IRA contributions versus distributions. They also emphasize the importance of understanding new regulations, legal implications, and financial strategies to ensure a secure retirement. Listen now to learn more! Takeaways Understanding the new RMD rules can significantly impact retirement planning. SPIA payments can now be aggregated with IRA balances for RMD calculations. Legal advice may be necessary for resolving RMD miscalculations. Treasury Inflation-Protected Securities (TIPS) can help protect against inflation. Roth IRA contributions should ideally be made early in the year. Dollar-cost averaging can mitigate market volatility in distributions. Innovative financial products are emerging to address retirement income needs. Understanding the implications of the Secure Act 2.0 is essential for retirees. Chapters 00:00 Strategies for Achieving a Funded Ratio 01:22 Understanding RMDs and SPIAs 12:28 Inflation Protection for Late Life Income 22:41 Optimizing Social Security Benefits 24:11 Investment Strategies: Lump Sum vs. Dollar Cost Averaging 32:07 Withdrawal Strategies: Constant Percentage vs. Variable Spending Links The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”…

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Episode 157: Retire with Style Live (not really) Q&A Part 1 38:28

14 weeks38:28

38:28

In this episode of 'Retire with Style', Wade Pfau and Alex Murguia tackle a variety of questions related to retirement planning, including the necessity of international stocks, the implications of Roth conversions, and strategies for purchasing property with retirement funds. They also discuss potential reforms in Medicare and Social Security, and the importance of understanding funded ratios in retirement planning. The conversation emphasizes the need for diversification in investment portfolios and the significance of reliable income in retirement. Listen now to learn more! Takeaways International stocks are not required but can provide diversification. Roth conversions can be beneficial even if tax rates decrease. Purchasing property with retirement funds requires careful tax planning. Future reforms in Medicare and Social Security remain uncertain. Understanding your funded ratio is crucial for retirement planning. Diversification is key in investment strategies for retirement. Reliable income sources should be prioritized in retirement planning. Tax-efficient distributions can help minimize tax burdens. Investing in international stocks can buffer against market volatility. It's important to assess personal comfort levels with investment locations. Chapters 00:00 Introduction and Overview 01:34 International Stocks: Necessity or Choice? 08:11 Roth IRA Conversions: Timing and Strategy 13:05 Tax-Efficient Distributions for Property Purchases 16:10 Medicare and Social Security: Future Reforms 21:45 Funded Ratios and Retirement Planning 28:14 Assessing Retirement Readiness 31:52 Income Protection and Asset Allocation Links The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/ This episode is sponsored by Retirement Researcher https://retirementresearcher.com/ . Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips…

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