Are you worried about making the right investment choices for your retirement? Join host Jason L Smith, and special guest Apollo Lupescu from Dimensional Fund Advisors, for a conversation that takes the mystery out of investing.
Whether you’re already enjoying retirement or planning for it in the next few years, this episode breaks down what you really need to know about protecting and growing your nest egg in today’s complex market environment.
Key Topics Discussed:
Investment Fundamentals: Learn why having a comprehensive financial plan is crucial before selecting specific investments
Risk Management: Understand the difference between “smart risks” and “dumb risks” in investing
Global Diversification: Discover why international exposure matters, with the U.S. representing 61% of global market value
Market Timing: Why “time in the market” beats “timing the market” – supported by 50 years of market data
The Bucket Plan® Strategy: How The Bucket Plan® philosophy of separating investments into Now, Soon, and Later buckets helps create peace of mind for retirement
Are you approaching Medicare age or already enrolled? Join host Bryan Bibbo and special guest, Gary J. Pelfrey, Director of Business Development at JL Smith Holistic Wealth Management.
With over 28 years of experience as a Medicare specialist in financial services, Pelfrey demystifies Medicare planning and reveals how proper healthcare planning can protect your retirement savings.
Key Topics Discussed:
2025 Medicare Changes: Learn about major updates coming to prescription drug coverage through the Inflation Reduction Act, including how you’ll benefit from the new $2,000 annual cap on out-of-pocket costs.
Medicare Plan Options: Discover the real differences between Medicare Supplement and Medicare Advantage plans, including which might best fit your lifestyle, especially if you travel.
Enrollment Timing: Find out exactly when you should enroll in Medicare, particularly if you’re still working past age 65, and how to avoid penalties that could cost you for life.
COBRA vs. Medicare: Understand the crucial distinctions between COBRA and Medicare coverage that could save you from making an expensive mistake during your retirement transition.
Long-term Care Gap: Learn what Medicare won’t cover in your later years and how to prepare for potential long-term care needs.
Listen in as Bibbo and Pelfrey break down the crucial Medicare decisions you’ll face and share upcoming changes that could significantly impact your healthcare costs.
In this episode, host Jason L Smith, CEP®, BPC, sits down with “America’s IRA Expert:” Ed Slott, CPA. He is the founder and CEO at Ed Slott and Company and a professional speaker and author. Together they discuss various tax and retirement planning strategies and stress the importance of finding the right advisor to help make the most of your savings and minimize tax burdens. Tune in for valuable advice to make informed financial decisions, optimize your retirement nest egg, and safeguard your wealth for future generations.
1. Having the right advisor: anyone who wants to make tax-smart decisions regarding their financial future benefits from an advisor with the right knowledge and skillset.
If you are a high-net-worth individual who has more complex financial needs, an advisor with expertise in tax management can make a big difference in your experience.
This podcast shares why understanding tax implications on wealth is important.
2. Proactive tax planning: taking strategic actions now can lead to long-term financial benefits.
Some decisions may temporarily increase your tax liability but can be more beneficial in the long run.
Planning is crucial to helping you keep more money for yourself and your beneficiaries.
It is wise to focus on what will help you have a steady future, rather than what may provide short-term financial gains.
3. Tax-efficient strategies: this episode describes ways to help maximize savings and minimize what you owe. Some examples include:
Roth conversions — These can help you manage their income-related monthly adjustment amounts (IRMAA) when they turn 65. By converting some of their traditional IRA funds into a Roth IRA, you can potentially reduce future Medicare charges for Medicare Parts B and D.
Qualified Charitable Distribution (QCD) — If you’re 70-and-a-half or older with an IRA and plan to make charitable donations, consider using a Qualified Charitable Distribution (QCD) from your IRA. This allows you to exclude the distribution from income, providing a better tax benefit than a tax deduction.
Ongoing education: Stay Informed About Tax Law Changes: Tax laws are constantly changing. Stay informed about new tax laws and regulations, especially those related to retirement accounts like IRAs and 401(k)s.
This knowledge can help you make informed decisions and potentially reduce your tax burden.
A holistic advisor can help you stay in-the-know.
If you’re unsure about your financial and tax situation, consider seeking advice from a financial advisor who specializes in retirement planning and tax-efficient strategies. The professionals at JL Smith can help you create a personalized plan to minimize your tax liability — schedule a free consultation today.
Disclaimer:
The information provided in this “Holistic Wealth and Health Podcast” episode, “Getting a Leg up on Tax Season – Tips and Strategies for Proactive Tax Management with Ed Slott, CPA” is for general informational purposes only. While hosts Jason L Smith, CEP, BPC, and guest Ed Slott, CPA, share valuable insights, listeners are urged to consult with financial, tax, and legal professionals for personalized advice. The hosts and guests do not endorse specific financial products, and any actions taken based on this content are at the listener’s discretion. The hosts, guests, and producers are not liable for errors or consequences resulting from individual decisions. Always seek professional guidance tailored to your unique financial circumstances.
In this episode, host Jason L Smith is joined by Chris Smith, the founder of Family Brand. They delve into the transformative journey of creating a strong, unified family culture. The discussion touches on how family unity and shared values contribute to overall well-being, drawing inspiration from concepts like ‘Blue Zones’ and the Japanese philosophy of Ikigai.
Key Highlights:
1. Introducing Family Brand: Chris Smithshares the inspiration behind founding Family Brand, rooted in his personal experiences and family challenges.
2. The Impact of Family on Longevity: A discussion on ‘Blue Zones’ and how family dynamics significantly contribute to longevity, inspired by the Netflix documentary “Live to 100: Secrets of the Blue Zones.”
3. Building a Family Brand: The conversation covers the process and benefits of establishing a family brand, including mission, vision, culture, and values, as experienced by host Jason with his family
4. Family History and Identity: The importance of knowing and sharing family heritage and stories to bolster family identity and resilience.
5. The Pillars of Family Values: Chris outlines eight crucial categories for developing robust family values, based on extensive research.
6. Family Brand Culture Quiz: Introduction to the quiz designed to help families understand and enhance their family culture.
7. Engagement Options with Family Brand: Overview of different programs offered by Family Brand, including digital, group, and private coaching options.
Listeners are encouraged to reflect on their family values and explore the resources offered by Family Brand to strengthen family bonds and create a lasting legacy.
Disclaimer: Investment advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). For a detailed discussion of PCA and its investment advisory fees, see the firm’s Form ADV and Form CRS on file with the SEC at www.adviserinfo.sec.gov. The views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.
In this episode, Jason L Smith and Jeff Warnkin, Lead Advisor at JL Smith, discuss a range of topics centered around year-end tax planning strategies, investment insights, and the importance of tax management in personal finance. The conversation covers a variety of subjects including the benefits of different types of retirement accounts, strategies for tax -loss harvesting, and the advantages of Health Savings Accounts (HSAs).
Key Topics Discussed:
1. Introduction to Tax Management
– Overview of the importance of sound tax management in personal financial planning.
2. Tax Planning vs. Tax Management vs. Tax Preparation
– Explanation of the differences between tax planning, tax management, and tax preparation.
– Insights into how these components work together to optimize financial outcomes.
3. Retirement Account Strategies (401(k), Roth IRA, etc.)
– Detailed discussion on the advantages of various retirement accounts.
– Insights into choosing between traditional and Roth options based on individual tax situations and future expectations.
4. Year-End Tax Strategies
– Strategies for maximizing deductions and contributions by the year-end deadline.
– The concept of tax loss and gain harvesting to optimize tax efficiency.
5. Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs)
– Exploring the triple tax benefits of HSAs and the use-it-or-lose-it nature of FSAs.
– Guidelines on how to maximize these accounts for healthcare expenses.
6. Investment Insights: Capital Gains and Loss Harvesting
– Strategies for managing capital gains and losses in investment portfolios.
– Discussion on the timing and implications of these strategies on taxes.
7. Donor-Advised Funds and Charitable Giving
– How to use donor-advised funds and charitable giving as part of tax management.
– Benefits of gifting appreciated stock and other assets to minimize tax liability.
8. Estate Planning and Gift Tax Exclusions
– Overview of current estate tax landscape and strategies for reducing potential future liabilities.
– Explaining annual gift limits and the advantages of gifting appreciated assets.
Closing Remarks:
– Jason and Jeff summarize the importance of proactive tax planning and management.
– Encouragement for listeners to reach out for personalized advice and further information.
Disclaimer: Investment advisory services are provided through Prosperity Capital Advisors LLC (“PCA”) an investment advisor registered with the United States Securities and Exchange Commission (SEC). For a detailed discussion of PCA and its investment advisory fees, see the firm’s Form ADV and Form CRS on file with the SEC at www.adviserinfo.sec.gov. The views expressed herein represent the opinions of PCA and are not intended to predict or depict performance of any particular investment.
