Navigating Your Options as an Eligible Designated Beneficiary, Ep #234
Financial Symmetry: Balancing Today with Retirement
Release Date: 02/27/2025
Retirement Ravaging Risks That Could Slash Your Nest Egg, Ep #250
Financial Symmetry: Balancing Today with Retirement
When people think of what could haunt their retirement, they often imagine running out of money, facing unexpected expenses, or living too long. But as we discuss in this episode, thereās a more insidious villain: sequence of return risk. Sequence of return risk refers to the threat of poor investment returns occurring early in your retirement years, just when you start withdrawing funds. Even if the average returns over your retirement are sufficient, early losses can irreparably damage your nest egg and dramatically increase the odds of running out of money. To bring these concepts to life...
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Seven Essential Stages of Tax Planning with Grayson Blazek, Ep #249
Financial Symmetry: Balancing Today with Retirement
Tax planning often slips to the bottom of our financial to-do listsāuntil a surprise bill or missed opportunity crops up. But behind the scenes, the right process for an ongoing tax strategy can put you leagues ahead, reducing uncertainty and helping you capitalize on changes. On the show this week, weāll walk through the seven stages of tax planning, highlighting key insights and practical actions you can take. Outline of This Episode 00:00 Holistic Tax Planning Overview 01:56 Understanding clientsā overall current situation and future goals [03:11] Importance of staying up-to-date for...
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Use Non-Obvious Thinking to Improve Your Retirement Readiness, Ep #248
Financial Symmetry: Balancing Today with Retirement
Planning for retirement isn't just about hitting your savings targets and hoping for the best. It's about getting creative, asking new questions, and challenging your own assumptions. We follow the retirement planning journey of a fictional couple, Dwight and Angela, who are three to five years from retirement, using the SIFT framework shared by Rohit Bhargava and Ben duPont in their book āNon-Obvious Thinkingā, to shed light on hidden financial opportunities. Outline of This Episode [00:00] Broadening perspectives on retirement strategies. [03:11] Making time to reflect to get better...
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Smart Strategies for Funding Your Childās College Education with a 529 Plan, Ep #247
Financial Symmetry: Balancing Today with Retirement
Planning for your childās college education can feel overwhelming, especially when faced with skyrocketing tuition costs and countless savings options. This week on the show, weāre discussing the question of exactly how much you should save in a 529 college savings plan. Outline of This Episode [00:00] Decide your college funding goal before saving in a 529 account. [02:06] An overview of college costs. {02:35] Advantages of the 529 Plan. [03:54] Weighing college savings vs. retirement savings. [05:31] What happens if I save too much? [07:35] Expanded legislation as part of the...
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Should You Add Private Equity, Real Estate, or Bitcoin to Your 401k? Ep #246
Financial Symmetry: Balancing Today with Retirement
Recently, an executive order has set the stage for 401 (k) providers to potentially start offering investments like private equity, private real estate, digital assets (think bitcoin), commodities, and moreāoptions typically reserved for pension funds and institutional investors. But what does this really mean for everyday savers? We break down the differences between traditional 401k offerings and these new alternatives, discuss the risks and potential rewards, and share questions you should ask yourself before making any changes to your investment lineup. Outline of This Episode [00:00]...
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Which Roth Account Is the Right Scoop for You? Ep #245
Financial Symmetry: Balancing Today with Retirement
Are you taking advantage of all your Roth opportunities? We break down the differences between the Roth IRA, Roth 401(k), or the Mego Backdoor Roth 401(k). by comparing your choices with another favorite summer treat - ice cream. We break down the basics, benefits, and ideal life stages for each account typeāwhether youāre just scooping your first vanilla cone with a Roth IRA, adding some flavor with a Roth 401(k), or going all-out Neapolitan with the Mega Backdoor Roth. We also share smart tips on tax brackets, income planning, and how to maximize your options for a sweeter financial...
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Making Sense of 2025ās Market Surprises, Ep #244
Financial Symmetry: Balancing Today with Retirement
The second quarter of 2025 was anything but dull in the financial world. But despite the turbulence, both US and international stocks finished the first half of the year up over 10%. Over the last 12 months, markets have performed robustly, returning 14-19%. Bonds have also held their own, with 6% returns over the last year. Investors have endured a roller coaster ride, especially after the dramatic market drop following tariff announcements and the subsequent quick recovery. Outline of This Episode [00:00] More about market volatility and recovery in 2025. [03:40] Tariff uncertainty...
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Breaking Down the Big Beautiful Bill with Grayson Blazek, Ep #243
Financial Symmetry: Balancing Today with Retirement
Tax season may feel far off, but with sweeping legislative changes just passed, proactive financial planning starts now. In this episode, weāre sharing our accessible, in-depth breakdown of the new Big Beautiful Bill, highlighting ten key tax provisions that every taxpayer should understand. Outline of This Episode [00:00] Summarizing the latest major legislation in 10 key tax provisions. [04:59] Be mindful of income limits for a taxpayer deduction. [08:05] Consider collating deductions into a single year to maximize tax benefits due to the temporary higher SALT limit. [11:44] Starting in...
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The Opportunity Cost of Holding Too Much Cash, Ep #242
Financial Symmetry: Balancing Today with Retirement
When is enough, enough? Many investors have recently found solace in growing their cash reserves, whether in their checking accounts, savings accounts, or certificates of deposit (CDs). With attractive yields and recent market turbulence still fresh in mind, itās easy to assume that loading up on cash is a safe strategy. But thereās a hidden cost to keeping more money than you need. Not only does excessive cash limit your growth potential, but it can erode your long-term wealth, all because of a mix of emotional biases, historical events, and overlooked risks. Outline of This Episode ...
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Creating a Pipeline of Growth and Purpose to Create a Better Client Experience, Ep #241
Financial Symmetry: Balancing Today with Retirement
At Financial Symmetry, our internship program has become a core pillar of our growth, innovation, and client experience. Over time, our program grew from simply filling resource gaps to a foundational development engine, helping to shape the services Financial Symmetry offers and the team culture itself. What has emerged from these iterations is the recognition that our best chance of success comes from integrating interns directly into the firmās core wealth management processes. This hands-on approach creates a feedback loop where interns donāt just complete busywork; they contribute...
info_outlineFour categories are recognized under current regulations to qualify as an Eligible Designated Beneficiary (EDB). These include the surviving spouse, minor children of the decedent, a disabled or chronically ill individual as assessed at the time of the decedent's passing, and other individuals who are no more than ten years younger than the deceased account owner. If you fall into one of these categories, you'll be afforded more time and flexibility than Non-Eligible Designated Beneficiaries. This is due to recent regulatory changes, underscored by The Secure Act, altering the landscape of inherited IRAs.
Outline of This Episode
- [00:00] The complexities and benefits of being an eligible designated beneficiary (EDB) for inheriting an IRA.
- [03:34] Eligible designated beneficiaries have two key advantages: more time and flexibility in inheritance.
- [08:21] Withdrawing from an IRA before age 59 incurs a 10% penalty and income tax; RMDs depend on age, starting at 73 for most people.
- [10:10] The stretch IRA avoids a 10% penalty by basing RMDs on life expectancy.
- [15:46] Timing distributions strategically can reduce tax liability. Wait until retirement to avoid high tax brackets.
- [18:01] Evaluate options carefully when inheriting an IRA, considering tax implications and future changes.
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