Secure Your Retirement Secure Your Retirement

In this Episode of the Secure Your Retirement Podcast, Radon, Murs, and Taylor discuss the significance of Form 5498 as an essential tax information document. Taylor describes Form 5498 as an informational document that reports contributions, rollovers, and required minimum distributions (RMDs) related to IRAs. 
Listen in to learn why Form 5498 is important for record-keeping and verification purposes but does not impact the already filed tax return. You will also learn why the form shouldn’t cause alarm since it doesn’t necessitate any changes to the already filed tax returns. 
In this episode, find out: 
The informational purpose of Form 5498 is to verify contributions to and rollovers between retirement accounts. The information reported on Form 5498 includes contributions to IRAs, rollovers, and RMDs. The difference between the taxable distributions reported on Form 1099 and the informational nature of Form 5498. Why Form 5498 does not require any changes to already filed tax returns. How Form 5498 helps the IRS verify that contributions reported on tax returns were actually made. A practical example of a 401k rollover and how it's reported using Form 5498. Why Form 5498 comes out later in the tax year as opposed to other tax return forms. 
Tweetable Quotes: 
"Form 5498 is for your records in case you were ever to be audited or need to prove to the IRS that you did something this way or that way."- Murs Tariq. "The 5498 reports contributions to accounts, or sometimes custodians will send out 5498s to show what the required minimum distribution should have been for the prior year."- Taylor Wolverton. 
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the concept of annuitization and immediate annuities versus deferred annuities. Annuities can come from different sources, such as insurance companies or municipal pensions. 
Listen in to learn how immediate annuities work, their pros and cons, and risks such as the potential loss of the principal if the annuitant dies early. You will also learn how deferred annuities work, the fixed type of deferred annuities, and why they make more sense for retirement planning than immediate annuities. 
In this episode, find out: 
The concept of annuitization and immediate annuities versus deferred annuities in retirement planning. Understanding that annuities can originate from insurance companies or pension plans. Annuitization – converting a lump sum into an income stream, plus the implications of this conversion. Various protections that can be added to immediate annuities, such as joint annuitization and period certain annuities.   How deferred annuities allow the principal to grow over time before withdrawals begin. Fixed deferred annuities – guarantees the principal and offer growth linked to market indices without market risk. The financial suitability of immediate versus deferred annuities for different types of savers. 
Tweetable Quotes: 
“You want to be very careful about using the word annuitization because sometimes people are receiving income thinking it’s annuitization and it’s truly not.”- Murs Tariq. “If you’re a good saver who’s saved a good amount of money, it’s probably not going to make the best financial decision to do an immediate annuity.”- Radon Stancil. "Should a person put all their money into an annuity? Absolutely not. Not in our opinion. But should they consider an annuity? Possibly."- Radon Stancil  
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.

In this episode of the Secure Your Retirement Podcast, Radon and Murs discuss the difference between FDIC (Federal Deposit Insurance Corporation) insurance and SIPC (Securities Investor Protection Corporation) insurance. Both FDIC and SIPC offer protection of funds held in accounts at financial institutions like Charles Schwab or Fidelity.
Listen in to learn about the basics of FDIC insurance, which protects bank deposits, and SIPC insurance, which safeguards investors against the loss of cash and securities. You will also learn about strategies to help you maximize coverage using account titling and diversification.
In this episode, find out:
FDIC – a federally backed insurance on banks created to restore public confidence in the banking system.Understanding the types of accounts and the amount of money FDIC insurance covers.SIPC – insurance that protects investors against the loss of cash and securities held by a brokerage firm.SIPC insurance doesn’t cover market losses but ensures the return of missing stocks and other securities.The differences between bank deposits (covered by FDIC) and investment securities (covered by SIPC).The importance of having a diversified investment strategy to balance safety and growth potential.
Tweetable Quotes:
“FDIC was created to make people feel comfortable with the banking system, knowing that there could be issues, but there are covers that their money is protected”- Murs Tariq.
“Let's think through how to make a financial plan and build an investment strategy around it in various buckets and diversification types of strategies so that we've got good strategies working for us.”- Murs Tariq.
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon, Murs, and Shawn discuss Medicare planning for people nearing the age of 65. Shawn explains the timelines and eligibility criteria for the Initial Enrollment Period (IEP), Special Enrollment Period (SEP), and General Enrollment Period (GEP).   
Listen in to learn the importance of understanding enrollment periods to avoid late penalties. You will also learn about Shawn’s seamless approach to guiding clients through the complexities of Medicare planning. 
In this episode, find out: 
Initial Enrollment Period (IEP) – the seven months before, during, and after you turn 65. Special Enrollment Period (SEP) – working beyond age 65 and coming off an employer group plan. General Enrollment Period (GEP) – three months each year to enroll in Medicare parts A and B. Common scenarios – still working with employer coverage, retirees with retiree health plans, and Social Security beneficiaries. The enrollment process – where to go, the required documents, and the potential penalties for late enrollment. Shawn shares his seamless approach to guiding clients through Medicare planning. 
Tweetable Quotes: 
“Depending on when either your initial or special enrollment period ended, when you come around and enroll into Medicare during the general enrollment, you may have a late enrollment penalty; it all depends on your situation.”- Shawn Southard “There are some things in Medicare once they're done, they can't be undone, so a mistake that you make can be a lifetime mistake, and late enrollment penalties are monthly lifetime mistakes.”- Shawn Southard 
Connect with Shawn: 
Email: shawn@POMwealth.net  
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon and Murs speak with Lynne Moore about the concept of aging in place, comparing it to continuous care retirement communities (CCRCs). Lynn has an extensive background in geriatrics and now works with ThriveMore, an organization specializing in helping people age in place. 
Listen in to learn how ThriveMore's program supports seniors in staying at home as they age while receiving necessary care. You will also learn the differences between aging in place and living in a CCRC, as well as the benefits of joining the ThriveMore program earlier. 
In this episode, find out: 
Lynne’s career background in geriatrics nursing and leadership and how she ended up at ThriveMore at home. The similarities and differences between continuing care at home and living in a CCRC. How ThriveMore's program focuses on bringing care services into individuals' homes. The ThriveMore program details about membership fees, eligibility criteria, and benefits. The benefits of joining the program early and the inflation protection of coverage. Why the age-in-place program is best suited for introverts, plus how ThriveMore handles couples. ThriveMore's vetting process for care providers and their emphasis on quality care. Information on how you learn more about ThriveMore and explore the program. 
Tweetable Quotes: 
“We're arranging, coordinating, navigating, and overseeing care to ensure quality care is provided as the person needs more. And it may be short term, it may be long term, but we're bringing that care in, and in addition to that, the long-term care insurance component is underwriting the cost of that care.”- Lynne Moore “Getting in our program earlier saves you money and helps you be ready in case something unanticipated happens with your health.”- Lynne Moore 
Get in Touch with Lynn: 
Website: https://www.thrivemoreathome.org/ LinkedIn: https://www.linkedin.com/in/lynne-moore-rn-lnha-cmc-caps-3a899237/ 
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon, Murs, and Nick discuss downsizing in retirement. Scenarios such as lifestyle preferences and financial needs are what make downsizing a consideration for retirees. 
Listen in to learn how we use practical scenarios to help clients visualize the potential outcomes of downsizing decisions. You will also gain insights into the importance of assessing the impact of downsizing on your retirement plan, whether it's for convenience or financial optimization. 
In this episode, find out: 
Some real-life scenarios where you might want to downsize in retirement. The challenges and benefits of downsizing like monetary implications and lifestyle enhancements. How we strategize to incorporate downsizing into a retirement plan and open up flexibility. The importance of early assessment and strategic planning to make informed downsizing decisions. How we simulate real-life scenarios to give you an insight into the consequences of downsizing in the future.   
Tweetable Quotes: 
"Downsizing may be an even exchange, but there are a lot of benefits that you pick when you make the move that you weren’t looking for 10 to 20 years ago, but now it’s something important.”- Nick Hymanson. “It gives more flexibility into your retirement plan if you have additional cash flow and funds through your retirement.”- Nick Hymanson.  
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.