Ep 132: What Tax Cuts Are Set to Expire?
Retire With Peace
In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the implications of the Tax Cuts and Jobs Act, which is set to expire at the end of 2025. He emphasizes the uncertainty surrounding potential tax changes and highlights key provisions that could impact retirement planning, including changes to tax rates, standard deductions, and various tax credits. The conversation aims to prepare listeners for the upcoming tax landscape and its effects on retirement strategies. Takeaways The Tax Cuts and Jobs Act is set to expire at the end of 2025. There is uncertainty...
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Ep 131: Consistency Is Key
Retire With Peace
In this episode, we uncover the hidden truth about long-term wealth building that the financial elite don’t want you to know. Forget chasing big wins and market timing—success comes from consistency, discipline, and strategic planning. Key Takeaways: ✔️ Consistency beats volatility – Slow and steady wins the wealth race. ✔️ Bigger wins come over time – Patience and strategy are key. ✔️ Have 5 years of income saved – Security is crucial for weathering downturns. ✔️ Stop trying to time the market – It’s a losing game in the long run. ✔️ Stay the course...
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Ep 130: Rule of 72
Retire With Peace
In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the Rule of 72, a simple mathematical formula that helps investors understand how long it will take to double their money based on a given rate of return. He emphasizes the importance of considering volatility and the average rate of return when planning for retirement. Zaegel also explains how to apply the Rule of 72 in retirement planning, advocating for a strategy that includes a mix of income-generating investments and growth-focused investments to ensure financial stability and growth over time. Takeaways ...
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Ep 129: Tax Benefits Come from Planning
Retire With Peace
In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the critical importance of long-term tax planning. He emphasizes that effective tax savings come from a broader perspective rather than focusing solely on the current year's tax situation. Through real-life examples, Zaegel illustrates how overlooking future tax implications can lead to missed opportunities and potential financial pitfalls. He encourages listeners to adopt a long-term view in their tax strategies to optimize their financial outcomes. Takeaways Tax planning should focus on long-term benefits,...
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Ep 128: Take Action in 2025
Retire With Peace
In this episode, host Dave Zaegel reflects on the key themes of 2024 and encourages listeners to focus on two crucial areas as they prepare for 2025: health and financial planning. Dave highlights the importance of maintaining physical well-being to fully enjoy retirement and offers guidance on seeking help for financial strategies. Key Topics Discussed: The importance of health alongside financial planning. Recap of the nine-episode health series covering: Sleep Eating more protein Strength training Supplements Flexibility and mobility Encouragement to revisit these...
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Ep 127: To Crypto or Not?
Retire With Peace
In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the evolving landscape of cryptocurrencies, particularly Bitcoin, and their implications for retirement planning. He addresses common misconceptions, the potential benefits and risks of including cryptocurrencies in retirement portfolios, and emphasizes the importance of a balanced investment strategy. Zaegel provides insights into how cryptocurrencies can fit into a broader financial plan, while also cautioning that they are not a necessity for every investor. Takeaways: Cryptocurrencies have gained...
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Ep 126: Health Savings Accounts
Retire With Peace
In this episode of the Retire with Peace podcast, host Dave Zaegel discusses the intricacies of Health Savings Accounts (HSAs) and how they differ from Flexible Spending Accounts (FSAs). He emphasizes the tax benefits of HSAs, including tax deductions on contributions and tax-free withdrawals for medical expenses. Zaegel also highlights the importance of having a qualifying insurance plan to contribute to an HSA and suggests strategies for maximizing the benefits of HSAs for retirement planning. Takeaways Health Savings Accounts (HSAs) are often confused with Flexible Spending Accounts...
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Ep 125: Is My Inheritance Taxed?
Retire With Peace
In this episode of the Retire with Peace Podcast, host Dave Zaegel addresses common questions regarding the tax implications of receiving an inheritance. He clarifies that there is no tax on the inheritance itself, but discusses scenarios where taxes may apply, particularly with inherited IRAs and the concept of step-up in basis for inherited assets. The conversation emphasizes the importance of understanding estate taxes and planning for potential tax liabilities in the future. Takeaways: There is no tax on receiving an inheritance. Estate taxes are assessed at the estate level, not...
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Ep 124: Stay Healthy This Winter
Retire With Peace
In this episode of the Retire with Peace Podcast, host David Zaegel shares his personal journey of maintaining health over the past year and offers practical tips for staying healthy during the winter months. He emphasizes the importance of hydration, sleep, exercise, and nutrition, particularly protein intake, as key strategies to boost immunity and overall well-being. David encourages listeners to adopt these habits to enhance their health and avoid common winter illnesses. Takeaways David celebrates a year of good health without illness. Staying hydrated is crucial, especially when...
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Ep 123: Tax Cuts Don't Mean Lower Tax Receipts
Retire With Peace
In this episode of the Retire with Peace podcast, host David Zaegel discusses the complexities of tax planning, particularly in relation to government tax receipts and the impact of tax cuts. He explores historical data to illustrate how tax cuts do not always lead to decreased revenue for the federal government, emphasizing the importance of the economy in determining tax receipts. The conversation also ties into retirement planning, highlighting the long-term strategies individuals can employ to manage their tax liabilities effectively. Takeaways Tax cuts do not always result in...
info_outlineIn this episode of the Retire with Peace podcast, host Dave Zaegel discusses effective tax planning strategies for charitable donations, particularly focusing on the benefits of donating appreciated stock instead of cash. He explains how this approach can help avoid capital gains taxes and maximize tax deductions, especially in high-income years. The conversation also covers the advantages of using Donor Advised Funds to streamline charitable giving and enhance tax benefits. Additionally, Zaegel highlights the importance of considering state tax credits for charitable contributions, providing listeners with a comprehensive understanding of how to optimize their charitable giving from a tax perspective.
Takeaways:
- Donating appreciated stock can avoid capital gains tax.
- Charitable donations can provide tax benefits even at standard deduction levels.
- Using a Donor Advised Fund allows for strategic charitable giving over time.
- Maximizing deductions in high-income years is crucial for tax planning.
- State tax credits can significantly enhance the benefits of charitable donations.
- It's important to plan donations to maximize tax benefits.
- Avoid selling stock before donating to fully utilize tax advantages.
- Charitable contributions should be approached strategically, not just as cash gifts.
- Understanding the tax implications of donations can lead to better financial outcomes.
- Effective tax planning can benefit both the donor and the charitable organization.