According to a survey from Realtor.com, around 12% of baby boomers plan to sell their homes in the next year – a larger share than any other generation surveyed. They are a generation rich with real estate. In fact, according to Federal Reserve data, boomers surpassed the Silent Generation in real estate wealth in 2001. You can read more in the New York Times article, “Baby Boomers: Rich With Real Estate and Not Letting Go.” To deepen the conversation, it’s important to remember that the Silent Generation and the Baby Boomers, upon their death, will transfer an estimated $30 to $68 trillion to adult children.
Can you say, “Wowzer”?
Good thing we have a tax man, Jon Sluis with us today who can translate the implication of inheriting real estate, joint tenancy, recapture rates and selling commercial property for retirement income. This is a show you won’t want to miss – especially if you’re investments are in land.
Tune in and take control. It’s all fun and games until you must pay the government … again!
As you can imagine, client questions have intensified as the market changes direction…again! There is always a dance between planning and pivoting. Financial planning requires us to be measured with both. We have the privilege of sitting with you week to week. We get to listen to your concerns, evaluate your options and focus on opportunities.
Today, Shea will ask your questions and Heidi will answer. Our discussion will include Ed Slott’s “Battle of the Roth Options” to help clarify the difference between a Roth IRA vs. a Roth 401(k). While we’ve mentioned it in passing before, we’ll dig a little deeper this week!
Tune in and take control.
Our friend, Joe, has been planning his retirement since he was in his 20s. His paycheck, savings, real estate investments and IRAs were constantly tweaked to “perfection.” What is perfect for you? Is it a large retirement account? Not living here in the winter? Having family nearby? Working until you can’t?
Start by defining your perfect retirement, then work back accordingly. Asses your risk tolerance and be HONEST! Are you willing to take a 20% downturn in the market, and do you have time to recover? Do you have life insurance that your beneficiaries can benefit from? What about taxes?
The list goes on and on when it comes time to craft the “perfect” retirement. It starts with you dreaming about what it could look like and ends with executing the plan. The rest is a mystery, and we enjoy helping you navigate it!
The Elite Advisors of our office – Dennis, Heidi and Nathan – have recently returned from the Ed Slott Conference in Kansas City, and they are full of exciting updates regarding “all things IRA.” Heidi will focus on the common mistakes people make when inheriting IRAs.
For the first time ever, we have Nathan Prout joining the show LIVE to weigh in on his insights. Nathan graduated with a bachelor’s degree in Business Administration and Finance . He is an Elite Advisor with Ed Slott and company, LLC, and is our Director of Client Services. If you decide to create a financial plan, Nathan is the one who ensures data accuracy for our advisors. He is currently working on his Series 65 and will be a financial advisor in the very near future! When he’s not at work, he’s home with his wife Sarah and their new baby girl Simone.
Join us today as our three “money people” take over the airways!
According to the U.S. Census Bureau, in 2021, 34% of adults aged 15 and older had never been married. And nearly one-third of single adult men live with a parent. In fact, if you read this article in TIME magazine, you’ll discover that “marriage is becoming an increasingly elite institution – people get married for economic advantages.” Married? It’s very rare for a married couple to die on the same day, meaning, one of them will be single later in life managing day-to-day finances alone.
Join us today as we switch the conversation from couples to singles. Our guest, Bob Simpson from the Social Security Office, will share some valuable information for those making decisions about Social Security alone.