The year-end is fast approaching. We did know it will be a crazy year because of the elections but we did not anticipate the year will go this way with the pandemic.
In today’s episode, we will discuss the three big risks that we need to manage for retirement. It is important to have a plan after what has happened this year. If you haven’t had your plan assessed or reviewed, now is certainly the time to do that.
In this episode, you'll learn...
- Chris’ positive focus for the week
- Year-end recap
- Secure act
- SECURE Act can only stretch that IRA up to 10 years
- The misconception about the tax-deferred account
- Three Big Risks of pre-retirement
- Required minimum distributions from your pre-tax accounts
- The real reason why they pass the SECURE Act
- Why the gov't wants you to defer your tax
- How tax can be the biggest risk
- The window of opportunity for tax management
- Importance of Qualified tax Analysis
- How $22 Trillion debt affects the tax status in the future
- Mitigation of long term care cost
- Statistics of nursing home care
- Market volatility as risk and pre-retirement
- Investment audit
- Waiving Penalty under 60
- Rich Man's Roth
- Checking where you fall in terms of the tax bracket
- Moving to the tax-free bucket
Links and Resources:
- contact@castlewealthgroup.com
- www.wisdomwebinar.com
- castlewealthlegal.com
- RetirementPlanWebinar.com
- AlzElderCare.com
- castlewealthgroup.com
- TheChrisBerryShow.com
- Michiganestateplanning.com
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