Retirement Daily

07/01/2025

Denise Appleby discusses some of the more costly mistakes IRA account owners make and how to avoid them and/or correct them.
via Yahoo Finance

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06/24/2025

Can AI really replace a skilled financial professional?

In this episode of Decoding Retirement, Nick Holeman, CFP®, EA, MSBA, director of financial planning at Betterment, discusses why you might not want to ditch your adviser for a chatbot just yet.

https://finance.yahoo.com/video/secret-great-retirement-think-engineer-190012295.html
via Yahoo Finance

Can AI really replace a skilled financial professional? In this episode of Decoding Retirement, Robert "Bob" Powell speaks with Nick Holeman, director of financial planning at Betterment, about why you might not want to ditch your adviser for a chatbot just yet. Nick also discusses how to utilize th...

06/10/2025

Navigating Retirement Planning in Uncertain Times: Key Insights from Lisa Featherngill

In this Yahoo Finance Decoding Retirement pocast, Lisa Featherngill, National Director of Wealth Planning at Comerica Wealth Management, discusses the potential impact of the new tax bill on retirement strategies. Here are some key takeaways:
-Wait and See: Don't make major financial decisions based on proposed legislation. Things can change significantly before a bill becomes law. "We're just in a wait and see mode," says Featheringill.
-Tax Deduction Opportunity: A proposed $4,000 additional standard deduction for those 65+ is being considered for 2025-2028. Keep an eye on this!
-RMD Planning: With the RMD age potentially rising, consider using the period between retirement and RMDs to strategically draw down traditional IRAs or convert to Roth IRAs for tax efficiency.
-Social Security Strategy: Featheringill raises concerns about the Social Security trust fund depletion. While delaying benefits is often advised, claiming earlier might be a consideration given the uncertainty.
-Retirement Spending: Be prepared for potentially higher retirement spending, as "every day is Saturday" and may lead to increased expenses in travel and hobbies.
-Helping Adult Children: Shared equity agreements can be a creative way to assist adult children with housing, but ensure everything is documented and properly titled.
Actionable Advice:
-Stay informed about legislative changes but avoid making hasty decisions.
-Explore Roth conversions during lower income years.
-Re-evaluate your Social Security timing strategy.
-Plan for potentially higher retirement expenses.
-Seek professional advice for complex financial matters.
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06/04/2025

Vanguard expert Fiona Greig highlights key insights on retirement planning in this episode of Decoding Retirement.

Many retirees lack a withdrawal plan, with stark differences in behavior - some take no withdrawals while others cash out entirely.

Greig recommends consolidating accounts and avoiding job transition pitfalls that can derail savings. She also discusses the significant impact of "Peak 65" and the importance of generational wealth transfer discussions.

https://finance.yahoo.com/video/inside-silver-tsunami-4-2m-190024558.html

via Yahoo Finance

Are you part of the record-breaking cohort of people reaching retirement age this year? On this episode of "Decoding Retirement," Robert “Bob” Powell speaks with Fiona Greig, global head of investor research and policy at Vanguard. Fiona discusses how to generate steady income to last through yo...

05/22/2025

Do you plan on working to 65 or perhaps even later?

If so, it would be well worth coming up with a backup plan.

While 70% of people plan to work until 65, less than 30% actually do, according to Michael Conrath, chief retirement strategist for JPMorgan Asset Management. In fact, most retire by 62.

https://finance.yahoo.com/news/think-youll-retire-at-65-you-may-need-a-backup-plan-203831847.html

via Yahoo Finance

Do you plan on working to 65 or perhaps even later? If so, it would be well worth coming up with a backup plan.

05/21/2025

It’s important to stay the course during periods of market volatility, but maintaining some tactical flexibility is also key. Investors can make slight adjustments - such as raising cash or tweaking their asset allocation - to help manage risk in uncertain conditions, says Dr. Preston D. Cherry, AFC®, CFT™, CFP®.

https://lnkd.in/es4tyMgk

via Yahoo Finance

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05/20/2025

In this just-released episode of Decoding Retirement, Chris Herman, head of retirement at Bank of America, shares both professional insights and personal experiences about financial caregiving.

Chris recounts helping his mother navigate her finances after divorce, emphasizing the importance of taking inventory of assets, creating budgets, and finding trusted advisors before making financial decisions.

As his mother aged, Chris and his sisters became caregivers, eventually facing difficult decisions about assisted living when home care became unfeasible - something they hadn't initially planned for.

https://finance.yahoo.com/video/hidden-costs-caregiving-190128408.html

via @ Yahoo Finance

On this episode of "Decoding Retirement," Robert “Bob” Powell speaks with Chris Herman, head of personal retirement at Bank of America Merrill Lynch. Having dealt with caregiving for his mother for nearly 25 years, Chris discusses the often unforeseen difficulties that come with managing fi...

05/13/2025

Andy Smith, CFP®, CIMA® of Edelman Financial Engines shares his perspective on the newly appointed Social Security Commissioner in the latest episode of Decoding Retirement.

Plus, Smith -- drawing from his background in wilderness emergency medicine -- also discussed the striking parallels between preparing for backcountry emergencies and planning for retirement.

via Yahoo Finance

The new administration has made some people uneasy about the future of Social Security and whether or not it will remain solvent when they expect to retire. On this episode of "Decoding Retirement," Robert “Bob” Powell speaks with Andy Smith, executive director of financial planning at Edel...

05/11/2025

President Donald Trump is expected to sign an executive order soon to lower the cost of prescription drugs for Medicare beneficiaries.

The order would implement a “most favored nation” policy, tying the prices of certain Medicare-covered drugs to those paid by other developed countries. With insights from Diane Daniels, Thomas Wright and Tom Clark

https://www.thestreet.com/retirement/trump-proposes-major-medicare-drug-plan-changes via TheStreet

Trump is proposing a "most favored nation" policy.

05/06/2025

While 70% of people plan to work until 65, less than 30% actually do, with most retiring by 62 due to factors like downsizing, caregiving responsibilities, or simply feeling financially ready.

This creates, Michael Conrath of J.P. Morgan Asset Management said in a recent Decoding Retirement podcast, the need to plan for potentially longer retirement periods; In fact, he recommends planning for a 35-year retirement horizon!

https://finance.yahoo.com/video/jpmorgans-guide-retirement-teach-210051585.html

via Yahoo Finance

"Will I run out of money?" is a question on every retiree's mind. On this episode of Decoding Retirement, Robert “Bob” Powell speaks with Michael Conrath, chief retirement strategist at JPMorgan Asset Management, to discuss JPMorgan's new edition of their "Guide to Retirement." Michael discusses...

04/25/2025

While the U.S. economy is not in a stagflationary period just yet, the extreme uncertainty from tariffs and the global trade picture is already having a negative effect.

As stagflation risks mount, retirees need to reassess their investment portfolios now to mitigate risk.

https://ow.ly/Rf3H50VGFGu

Via TheStreet

04/24/2025

Uh-oh. You’ve suddenly lost your job. Should you look for another role or retire? Let’s discuss.

https://ow.ly/CS6a50VGFA1

Via TheStreet