Cover Your Assets KC Podcast

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?

Episode 80: What Is The Strategy Behind A Roth Conversion?

If you think a Roth conversion might be the right thing for you, how do you do it correctly? Creating a strategic plan for your conversion can make a significant difference in your finances and we'll discuss the reasons many people are choosing to make this move. 
 
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-80-what-is-the-strategy-behind-a-roth-conversion/ 
 
Today's show schedule: 
1:14 - What is the strategy behind a Roth conversion?
3:47 - What is a Roth conversion?
6:11 - The longer your account grows tax-deferred, the bigger the account.
8:48 - It’s possible that the tax rates will go up in the future.
14:34 - How does this strategy relate to Medicare?  
16:02 - Consider your retirement plans and where the country is going

Episode 79: Uncommon Sense in Financial Planning

We’re told to use common sense when making decisions, yet often we still do otherwise. Today’s podcast will highlight several areas where people tend to go outside of the common sense and why.  
 
Read more and get additional financial resources here: https://coveryourassetskc.com/episode-79-uncommon-sense-in-financial-planning/ 
 
Today's show schedule: 
0:53 - “Buy low and sell high.”
3:37 - Don’t pay more in taxes than you have to.
6:06 - Keep costs low within your investments.
8:33 - “Don’t put all of your eggs in one basket.”
10:22 - Market timing is virtually impossible.