Cover Your Assets KC Podcast

Episode #46: 4 Important Tax Strategies To Implement Before The End Of The Year

As we enter into the fourth quarter of the year, you may be surprised to learn there are things you can do right now that have an impact on your taxes. Here are four strategies to implement right now.
Show Notes: https://coveryourassetskc.com/ep-46-4-important-tax-strategies-to-implement-before-the-end-of-the-year/
1:05 - Why now? Do we really have enough time to implement these tax strategies this year?
2:48 - #1 Tax strategy: Max out your 401(k) plan or at least up to the match. 
6:07 - #2 Tax strategy: If you have a high deductible plan, you need to contribute to an HSA.
9:41 - #3 Tax strategy: If you are over 70.5, you have to take out RMDs.
13:15 - #4 Tax strategy: Use your RMDs for your charitable donations.

Episode #45: Are You Missing Out On Contributing To A Roth IRA?

Maybe you’ve heard differences between a Roth and traditional IRA in the past, but how do you determine if a Roth is right for you? What are the short-term vs. long-term benefits?
On this episode:
0:33 - What’s the difference between a traditional IRA and a Roth IRA?  
2:11 - Why do so many people contribute more to traditional IRAs?
3:14 - Why can a Roth be powerful for someone saving for retirement?
4:45 - Who should contribute to a Roth instead of a traditional IRA?
5:50 - Who should contribute to a traditional IRA?
Check out the show notes and additional resources here: https://coveryourassetskc.com/episode-45-are-you-missing-out-on-contributing-to-a-roth-ira/

Episode #44: The 7-Step Retirement Plan You Can Build Yourself - Part 2

Have you created a retirement plan that covers all of the basics? More than just where your money is invested, do you have goals and a plan in place that accomplishes what you want it to? The seven-step retirement plan is something you can do to make sure you are headed in the right direction. This is part two of the series.
On this episode: 
1:09 - Recap of steps 1 through 4 of the seven step retirement plan.
2:39 - Step 5: Understand your catastrophic risks. Am I properly insured?
6:04 - Step 6: Have a basic estate plan, especially if you have kids.
8:50 - Step 7: Understand your taxes. 
Get the full show notes and additional resources here: https://coveryourassetskc.com/the-7-step-retirement-plan-you-can-build-yourself-part-1-2/

Episode #43: The 7-Step Retirement Plan You Can Build Yourself - Part 1

When creating a retirement plan, where do you start? And where are you headed? These seven simple steps will guide you through the process of building a retirement plan that works for you. This is part one of that series.
Today's rundown: 
1:33 - Introducing this first part of a series covering the seven step retirement plan.
1:55 - The four questions you need to ask yourself before starting the retirement plan.   
2:50 - Step 1: Create an annual statement of net worth so you can measure your progress.
6:17 - Step 2: Know how much you spend and what you spend it on.
7:55 - Step 3: Ask, “Where am I going?” and write down your financial goals.
10:40 - Step 4: Live below your needs and eliminate bad debt.
Get the full show notes and additional resources by clicking here. 

Episode #42: Saying One Thing But Doing Another With Your Investments

Do you follow through on your investment plans and goals? Maybe you think and say one thing, but then never get around to making it happen. Does your retirement plan reflect you and your values? Let’s make sure your goals and actions are aligned in this episode.
Check out the full show notes by clicking here.

Episode #41: 4 Reasons Why You Might Benefit From Roth Conversions

Have you considered doing a Roth conversion? Or did you even know they were an option? Here are four reasons to consider a Roth conversion and how they might fit in your tax strategy in the future.
Check out full show notes for this episode by clicking here. 

Episode #40: What It Means To Invest Like A Genius

What are the traits of a genius? And do they apply to you? How about your financial plan, is that the work of a genius? Learn how you too can think and act like a financial genius.
Check out the full show notes by clicking here. 

Episode #39: 2 Tax Strategies To Implement Now In Case Of A Future Tax Rate Increase

Some say “if” but most likely “when” tax rates increase, are you prepared to take a hit? What are some strategies you can implement now to prepare for a future increase in tax rates? These two strategies are sure to soften the blow later on.
Check out the full show notes by clicking here.

Episode #38: Managing Your Money In A Marriage (or Divorce) + Mailbag

Money is one of the top stressors in a marriage, so how do you handle it together successfully? Or, what happens to your retirement savings when you get a divorce? David answers these questions from the mailbag.
See the full show notes by clicking here.

Episode #37: The Battle Between Mutual Funds And ETFs

Do you prefer mutual funds or ETFs? To figure out which is better, first you’ve got to know what each does. Then you can determine how they fit into your financial strategy. We'll help you do that in this episode. 
Make sure you check out the show notes by clicking here. 
Here's the rundown for this episode: 
1:45 - What is a mutual fund?3:48 - Mutual funds provide an easy route to diversification.4:17 - What are ETFs?8:00 - Which is better, mutual funds or ETFs?9:09 - The difference between an indexed strategy and an actively managed strategy.