Cover Your Assets KC Podcast

Episode 90: 3 Reasons to Review Your Tax and Estate Plan Now

Regardless of your age, here are three reasons you may want to review your tax plans and estate plans before the end of the year. Do you have everything set up in the most beneficial way?
 
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-90-3-reasons-to-review-your-tax-and-estate-plan-now/ 
 
On today's show: 
0:34 - This show has something for everyone when it comes to tax strategy.
1:31 - Why should you review your tax and estate plan right now?
3:21 - What is the gift tax exemption?
5:17 - What happens if the stepped up cost basis at death changes?
7:31 - Have you looked at doing a Roth conversion?
11:04 - How has the SECURE Act changed your estate plans?

Episode 89: Which Presidential Outcome Will Be Best for Your Portfolio?

How does this year’s 2020 election results impact your finances? We run through several possible outcomes to see what may be most beneficial from a financial standpoint. 
 
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-89-which-presidential-outcome-will-be-best-for-your-portfolio/ 
 
On today's show: 
0:32 - What’s the latest in the news?
1:36 - Which presidential outcome will be best for your portfolio?
3:31 - What happens if it is full Democratic control?
4:22 - What regulations may be added with Democratic politicians in office?
6:44 - How would the payroll tax work?
10:04 - What happens if President Trump is re-elected, the house stays Democratic and the Senate is Republican?
12:47 - What is the key focus going forward?
13:37 - What happens if Biden becomes president, the Democratic house stays in place, and the Senate is Republican?
14:59 - What really matters?
19:04 - What should your financial plan include?

Episode 88: Building a Financial House

More than a mere structure, your financial plan creates the blueprint for the life and home you live in. What does it take to build a financial home that will withstand the test of time? Join us as we lay out the similarities between constructing a plan and constructing a house.
 
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-88-building-a-financial-house/ 
 
On today's show: 
1:50 - What goes into building a house?
3:13 - Building a financial plan can feel daunting. 
3:48 - What is the foundation of a financial plan?
6:50 - What are the walls of your financial home?
8:42 - What covers your financial house?
13:09 - What are the finishing touches?

Episode 87: 3 Listener Questions about Retirement Planning

Should you follow the “Rule of 100”? Are you wanting to retire sooner than originally planned? Where should your retirement income come from? David answers these listener questions on today’s episode of Cover Your Assets KC.
 
Read more about this topic: https://coveryourassetskc.com/episode-87-3-listener-questions-about-retirement-planning/ 
 
On today's show: 
1:02 - Mailbag: Can you explain the rule of 100?
4:34 - Mailbag: Which account should you withdraw from first in retirement?
8:08 - Mailbag: What do I need to have in place to retire earlier than originally planned? 
9:45 - What will you spend in retirement?
12:07 - What is your Social Security claiming strategy?
13:54 - When can I retire?

Episode 86: What Your 401(k) Rollovers Options Are

Do you know when and how to do a 401(k) rollover? What type of rollover do you choose and where do the funds go? Find out on today’s podcast.
 
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-86-what-your-401k-rollovers-options-are/ 
 
Today's show schedule: 
1:07 - What are your options for rolling over a 401(k)?
2:53 - When you leave a company, what happens with your 401(k)?
6:01 - What’s the difference between direct and indirect rollovers?
10:57 - What happens with your investments?   
13:17 - What are the steps to do a rollover?

Episode 85: Dealing with the Death of a Spouse

While it’s unpleasant to think about, preparing for what happens when one spouse dies is a critical component of your financial plan. David has worked with several surviving spouses and shares what’s important to focus on when it comes to your financial plan during that transition.
 
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-85-dealing-with-the-death-of-a-spouse/ 
 
Today's show schedule: 
1:45 - What are the financial difficulties following the death of a spouse?
4:03 - What kind of income will the surviving spouse receive?
8:10 - How will your tax brackets change?
12:51 - What are the estate planning matters you need to address?
16:04 - Is your exposure to risk still appropriate?

Episode 84: How to Prepare for Early Retirement

Does retiring at 55 sound like a good idea? Russ, one of our listeners, thinks so and wants to know how he can prepare to do so.
 
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-84-how-to-prepare-for-early-retirement/ 
 
Today's show schedule: 
1:24 - Mailbag: What can I do to prepare to retire early?
3:14 - How much am I going to spend in retirement?
5:38 - How will you cover your healthcare?
7:29 - Where will your income come from?
10:21 - Will my money last?

Episode 83: What To Know About The 4 Types Of Annuities

Annuities might just be the most controversial topic in the retirement landscape, but why are they such a polarizing set of products? Find out what David thinks about the four different types of annuities and get lots of detail on each one on today’s episode.
Show Notes, Resources & Contact Info:
https://coveryourassetskc.com/podcasts/
Timestamps:
0:59 - Annuities are a controversial topic.
3:15 - It’s important to use the right tools.
5:04 - Type #1: Immediate annuity
9:22 - Type #2: Fixed annuity
12:36 - Type #3: Fixed index annuity
18:25 - Different companies offer different terms.
19:43 - Type #4: Variable annuity

Episode 82: Not Your Father's Retirement

From financial plans and needs to your retirement lifestyle, your retirement is decidedly not the same as dear old Dad’s. How will your retirement (and retirement plans) be different?
Show Notes, Contact & Resources:
https://coveryourassetskc.com/podcasts/
Timestamps:
0:51 - It was assumed you would automatically retire at 65.
2:53 - Retirement living was cheaper.
4:24 - Retirees today have a lot more problems than previous generations of retirees.
6:49 - Retirement portfolios now need to be designed for at least 30 (or more) years.
8:48 - Why should you get a financial check-up?

Episode 81: How The SECURE Act Changed Inherited IRAs

Are you aware of all of the changes that the SECURE Act brought about? How does that potentially change your financial plan right now? We’ll answer those questions and more on today’s episode.  
 
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-81-how-the-secure-act-changed-inherited-iras/ 
 
Today's show schedule: 
0:32 - The SECURE Act was supposed to be the big financial news.
2:45 - What happens when you inherit an IRA?
3:40 - The first category of beneficiary is the surviving spouse.
4:21 - Who is included in the category of eligible designated beneficiary?
7:16 - Who has to take out the money within ten years or less?
9:47 - What’s the biggest unintended consequence?
12:38 - When should you talk to your advisor?