Medicare can seem like a foreign language to those who don’t look into it on a regular basis.

In this episode, Tim Whisler discusses what you need to know about Medicare when planning for retirement. He reveals the different parts of Medicare plans, the role of each and the coverage they provide. Tim discusses the importance of understanding what your expenses are and how much items such as your prescriptions will cost after Medicare coverage.

Tim discusses:

  • What Medicare is and what it covers
  • The different pieces of your Medicare plan
  • The importance of understanding your costs when choosing a plan

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You may hear about RMDs from your retirement planner. But how do required minimum distributions impact your personal retirement plan?

In this episode, Tim Whisler shares his knowledge of RMDs, discussing how pensions evolved to retirement accounts with RMDs and the differences between the withdrawal rules of different accounts. He reveals the importance of including the RMDs within your retirement plan and how they can impact your beneficiaries after you are gone.

Tim discusses:

  • What RMDs are
  • How different types of retirement accounts are impacted by RMDs
  • The benefits of gifting your RMD
  • How your beneficiaries could move up a tax bracket from their inheritance

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Death and taxes are the two most certain events in a person’s life. How can you continue the implementation of your financial plan after death?

In this episode, Tim Whisler discusses the difficult topic of death and how to plan financially for this certainty in life. Tim shares two stories about death and the financial planning involved. He discusses how having a plan can not only ease the transition but also increase the legacy you leave behind for future generations.

Tim discusses:

  • The importance of having a conversation about death with your loved ones and your advisor
  • What could happen to your estate without a proper plan
  • How simple planning can ease the transition of your estate after you’re gone
  • How to increase the legacy you leave behind

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Marriage vows always speak about “until death do us part” — Social Security works beyond death.

In this episode, Tim Whisler is joined again by Beth Ingle, a certified senior advisor with Living By Your Design. Tim and Beth use examples to discuss spousal benefits and survivor benefits of Social Security and detail how different scenarios could impact the benefits each party receives.

Beth discusses:

  • How Social Security spousal benefits are calculated
  • What survivor benefits means for your own Social Security
  • The difference between a widow and a divorcee when calculating Social Security benefits
  • The transition from survivor benefits to personal Social Security benefits

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There is always a risk when entering the stock market. What will that risk be in 20, 30, 40 years when you retire?

In this episode, Tim Whisler takes a deep dive into sequence of return risk, detailing what it is and how he helps clients prepare for the future without a crystal ball. Tim discusses how he turns potential losses into zeroes and the benefits of such transformations within your retirement plan.

Tim discusses:

  • The two main phases of life in your financial plan
  • The uncertainty of the future when planning for retirement
  • The benefits of zeroes over losses within your investments

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With so many people in the US taking advantage of Social Security benefits within their retirement plan, it’s important to fully understand how to make the most of the program and ensure that you’re receiving the optimal benefit..

In this episode, Tim Whisler is joined by Beth Ingle, a certified senior advisor with Living By Your Design. Beth shares her knowledge about Social Security benefits and discusses what could happen to your benefits if you choose to return to work after retirement.

Beth discusses:

  • How you can access your Social Security information online
  • The role of Social Security in your retirement plan
  • The impact of working part time on your retirement benefits
  • How your age when accepting Social Security changes your benefits

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When you have a water leak, you call a plumber. When you need to create or manage a retirement plan, you call a retirement income specialist.

In this episode, Tim Whisler discusses the role that a retirement expert plays within retirement planning. Tim shares the difficulties of self-managing a retirement plan and the different elements of a holistic financial plan.

Tim discusses:

  • Why you should hire a retirement expert
  • The difficulties of taking financial advice from friends and family
  • The importance of understanding the different stages of life and how your spending will change
  • The role of liaising gains and relieving pains in your retirement plan

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Your retirement age can impact the cost and benefits gained during your retirement.

In this episode, Tim Whisler reveals the flow of retirement as you age, from high to low spending. Tim discusses the risks you should consider when planning retirement and how a delay in retirement could grant you huge financial benefits.

Tim discusses:

  • The retirement spending smile
  • The importance of risk management when it comes to your retirement spending
  • How delaying your RMDs to a certain age could increase your benefits

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Have you ever felt you were living paycheck to paycheck, or felt stressed when talking to a financial advisor about your financial situation?

Did you know that these reactions have a scientific explanation?

In this episode, Tim Whisler is joined by Maggie Klokkenga, CPA, CFP®, financial coach at Make A Money MindShift, LLC. Maggie shares her journey from financial planning to financial coaching and the fascinating psychology behind our understanding and relationship with money.

Maggie discusses:

  • The importance of understanding your relationship with money
  • The psychology behind monetary struggles
  • How money scripts subconsciously influence everyone

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When you hear the word legacy, what comes to mind? What do you want your legacy to be? The legacy you leave behind can begin with a simple donation.

In this episode, Tim Whisler is joined by Phil Newton, founder and partner of Perennial Partners. Phil shares how charitable gifting can be beneficial for your retirement planning and your financial legacy.

Phil and Tim discuss:

  • The benefit of donating your IRA distribution to charity
  • How to donate a life insurance policy
  • The importance of donating, not matter the amount

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