Many people are surprised when they get an Income Related Monthly Adjustment Amount (IRMAA) letter from Medicare demanding higher payment for Part B and Part D (prescription drugs). In this show we talk about the main ways people get surprised by IRMAA and how to appeal if you get such a surcharge.By Dan Wendol

Many of the reasons people claim Social Security before their full retirement age are flawed. In this show we scrutinize the most common reasons why people are claiming early. From "breakeven" analysis, to getting better returns elsewhere, to Social Security going bankrupt, the justifications are questionable.…

CD rates haven't been this high since almost 20 years ago. Is now the time to lock up these relatively high interest rates? If so, how long should a person lock in a CD rate - 1 year, 2 years, 5 years, 10 years? What about 100 years!? Does the decision change if you are close to or already in retirement?…

Can you take a Required Minimum Distribution, pay the taxes, and convert that amount into an IRA? Does the 5-Year Rule apply to Roth conversions and does a new 5-year period start each time you make a conversion? In this show we answer both of these very common (and misunderstood) questions.By Dan Wendol

Claiming Social Security early is often the WRONG financial strategy. But what if that is what your "financial advisor" has recommended? New research suggests that this advice may actually not be in YOUR best interests, but in the best interest of the advisor. Listen in as we discuss the bias that some financial people have when it comes to guiding…

Want your beneficiaries to avoid paying big legal fees and/or major taxes to the IRS? Then you need to avoid some very common estate planning mistakes. In this show we discuss a real-life example of how a simple oversight can lead to major lawyer fees and taxes that could have been avoided.By Dan Wendol

What happens if your existing long term care policy price does up? Do you pay the price increase, or adjust the benefits to keep the policy affordable? In this show we review a real-life example of a client who is facing a potential 189% price increase for his existing LTC policy.By Dan Wendol

A successful retirement is about increasing income and reducing stress. In this show we review the top stresses faced in retirement and how to decrease or eliminate them.By Dan Wendol

In Part Three of this three part series, we explore how a needy family member can be one of the top threats to a successful retirement plan. This third "punch to the mouth" is often difficult to deal with because it's family! What do you do if you have an aging parent or adult child that needs financial assistance?…

In Part Two of this three part series, we explore how a health crisis is one of the top threats to a successful retirement plan.This second "punch to the mouth" is often difficult to deal with because not many people truly want to address or talk about it.In each part of this series, we will identify the retirement planning threat, provide examples…

In Part One of this three part series, we explore how market crashes are one of the top threats to a successful retirement plan.This first "punch to the mouth" is perhaps the most widely known and easiest to prevent. In each part of this series, we will identify the retirement planning threat, provide examples, and offer solutions. Tune in to learn…

Losing a spouse can be difficult emotionally, but also financially. On top of the financial turmoil comes TAXES. In this show we discuss the specific tax problems that widow(er)s face when they lose a loved one. If you want to prepare for a potential tax situation or have recently lost a spouse, watch this show.…

If your spouse filed for Social Security before their full retirement age, your benefit may be impacted. This is known as the he Social Security "Widow(er)'s Limit." (Retirement Insurance Benefit Limit or RIB-LIM). In this show we talk about how survivors are impacted when their spouse (or ex-spouse) claimed benefits early.…

Retirees are being targeted every day by scammers trying to steal their hard earned retirement money. The rise in online scams and financial theft is staggering as more and more people fall victim to these highly convincing tactics. In this show we talk about the types of scams and the red flags to watch out for.…

78% of nearly retired people failed a basic quiz on Social Security. In this show we review each of the 13 questions and explain the answers. Make sure you know these answers - don't be one of the many people who don't understand basic Social Security rules and details!By Dan Wendol

If you have millions in the bank, should you continue to work at age 80? In this show we talk about Eric Idle of Monty Python fame and how he is still working at age 80 to meet his financial obligations.By Dan Wendol

When you lose a loved one, there are often many loose ends to deal with. Many often wish their loved one left certain pieces of information to make life a bit easier. Having a Will and final wishes is useful, but what about the less obvious things like account numbers, passwords, or where the gold was buried? In this show we talk about the things t…

Believe it or not, some people are forced to retire. Not everyone wants to retire, and many more are working into their 70s. Yet, in some cases the U.S. law forces you to call it quits. In this show we discuss where is this still applicable and whether or not people should be forced to retire.By Dan Wendol

The IRS has released a new method to ward off tax ID theft. There has been a growing problem of criminals filing tax refunds of unsuspecting citizens and pocketing the money. In the past, the IRS instituted a system to prevent repeat offenses. However, now the IRS is offering that same level of defense to all.…

Dan & Tony head to Nashville, TN to talk country music and financial lessons. In this show we discuss quotes from music icon Dolly Parton. Will you have to keep working 9 to 5 forever?By Dan Wendol

Some States still tax Social Security and other retirement income. What happens if you retire in a State that doesn't tax retirement income or pensions? Does it make sense to move in retirement for a more favorable tax situation? What can we learn about taxes from the Shohei Ohtani blockbuster baseball contract with the LA Dodgers?…

Where do the most centenarians live and what are they doing that lets them live so long? In this show we discuss the concept of Blue Zones, which reveals the areas of the globe where people are living long and health lives. What doe these people have in common and how should you change your financial plans to be more like them?…

In which state will one million dollars last the longest for a 65 year old? According to recent analysis from GoBankingRates, it could be gone in 10 years or 22 years, depending on where you live! Listen in as we reveal where money will last the longest and also explain why this type of analysis really misses the boat when it comes to retirement pl…

Investing can be tricky in general. How does a decreasing interest rate environment impact investing? Where should you be putting your money when interest rates are falling?By Dan Wendol

Classic Christmas holiday movies are fun to watch and offer powerful life lessons. Are any of these lessons financial or retirement focused? In this show we explore the financial lessons learned from Christmas Vacation, A Christmas Story, It's a Wonderful Life, and The Grinch Who Stole Christmas.By Dan Wendol

What is a lifetime income rider? (also known as an LIBR, GMIB, GLWB, GMWB) These added features on variable and indexed annuities can be confusing and often misunderstood. In this show we discuss these riders and why you may want to avoid them.By Dan Wendol

Required Minimum Distributions (RMDs). What are they, and what are the new rules surrounding these IRS restrictions on retirement savings? In this show we go through an extensive FAQ on the rules and changes to this unpopular part of the tax code.By Dan Wendol

Planning on retiring soon? In this show we discuss the key decisions and actions someone must take if they are planning to retire within the next five years. If you want to retire successfully, you should start planning now by listening to this show.By Dan Wendol

If you have a government pension, you may not get 100% of your Social Security check. In this show we discuss how the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) provisions reduce the benefits of certain government employees.By Dan Wendol

The highest monthly Social Security check in 2024 will be $4,873. How does one qualify to get that much? In this show we'll explain how and also discuss some other important changes to the numbers around Social Security that take effect in 2024.By Dan Wendol

There are many financial decisions and actions retirees must take. One in particular can go a long way in keeping harmony in the family- making sure assets pass to the next generation without drama. In this show we discuss this often overlooked, yet simple action you can take to avoid future problems.…

Annuities have a bad reputation and are often portrayed in a negative light. In this show, a financial planner talks about how he sold an annuity to his Mom and why he feels that certain annuities might be appropriate for some people. What type of annuity did he sell to his Mom and does he regret it?…

Which city is best suited for retirement? In this show we review a recent ranking of the top 182 cities in the US and discuss the results. Spoiler alert! Tampa is at the top. What criteria is important to consider when moving for retirement?By Dan Wendol

Many struggle to switch from saving to spending when they retire. It may seem easy, but it is often a mental challenge. We discuss the five mental barriers to successfully switching from accumulation to decumulation. Do you think you will spend without any problem? Think again.By Dan Wendol

When interest rates drop, many know to refinance their debts. Yet, when interest rates increase, many don't know that it is time to refinance their income. Shouldn't your income go up when interest rates rise? In this show we discuss this important topic for retirees.By Dan Wendol

The fear of running out of money is one of the biggest fears retirees face. Yet, it should NOT be. In this show we talk about why this fear of running out is overblown.By Dan Wendol

Caring for an aging parent can be costly, time consuming, and emotionally taxing. In this show, Dan & Tony share their personal experiences with caring for their aging parents along with tips and lessons learned.By Dan Wendol

How do I claim Social Security against my spouse? Can I claim against an ex-spouse's Social Security? How much will I get? What are the rules about spousal benefits? In this show we answer all the questions you may have about claiming Social Security against a spouse.By Dan Wendol

Can I get my ex-spouse's Social Security? How much will I get? How long do I have to be married? What if I remarry? Will my ex-spouse know I am claiming against them? What if my ex-spouse is dead? In this show we answer all the questions you may have about claiming Social Security based on an ex-spouse.…

What does it take to be considered at the top 1% of earners in your state? Does earning top money for your efforts ultimately lead to an earlier, less stressful, or "better" retirement?By Dan Wendol

Should you take Social Security early because interest rates are relatively high? Why bother delaying Social Security when you can take the money now and get a better return? In this show, we explore the idea that delaying Social Security may NOT make sense when interest rates are going up.By Dan Wendol

According to a 2023 survey, Americans believe they will need $1.27 million to retire comfortably. In this show we discuss whether or not this is a realistic number. We also discuss how one should begin to determine how much they will need for retirement. Learn how you may be approaching this age-old question from the wrong direction.…

Income is critical to retirement planning. A recent survey suggests that retirees don't know how to create retirement income plans. Taking Social Security as soon as possible isn't necessarily the best way to build an income plan. In this show we discuss the recent survey results around income during retirement.…

Major health events are usually associated with negative financial outcomes. The cost of care, loss of income, and general expenses of health scare usually have a negative impact. However, this inverse relationship may not always be the case. In fact, sometimes a negative health event can actually lead to financial improvements!…

Are you considering selling your home or buying a new one? Maybe you are planning to move to Florida for retirement. Did you know that real estate agents aren't legally obligated to act the same across the country? For instance, in Florida, a real estate agent doesn't have to act as a Fiduciary and can represent both sides of a home transaction. In…

If you write a Will with your final wishes before you die, do you avoid probate court? No. What if you have two separate Wills written? You'll have even more drama. Join us as we break down the legal battles surrounding the estate of the late great Aretha Franklin.By Dan Wendol

If you inherit an IRA, there are special rules regarding when you have to withdraw funds from that account. The "new" 10 year rule starting in 2020 is still a bit wishy-washy. In this show we discuss a recent IRS update about these Required Minimum Distributions (RMDs).By Dan Wendol

Everyone knows that the big lotteries like Powerball are a losing bet. However, there is a major reason why it might make sense for pre-retirees to buy a ticket. The best part is you don't have to win the lottery to gain from playing the game!By Dan Wendol

Short term interest rates are higher than they have been in decades. Should retirees or those close to retirement be locking in some of these rates now? Why not capitalize on these high fixed rates using CDs, MYGA, T-bills, Money Markets, etc.?By Dan Wendol

One of the early leaders of the F.I.R.E (Financial Independence Retire Early) movement, known as the Financial Samurai, recently announced he is going back to work. In this show we analyze his announcement and reasoning behind this dramatic shift in his plans. The lessons learned apply to all people who are retiring at any age.…