Episode 11 - Navigating Late-Career Layoffs — Turning Change Into Opportunity
Independence Wealth Podcast
In this episode of the Independence Wealth Podcast, Eric Nelson tackles a topic that’s becoming increasingly common — late-career layoffs and how to navigate them with confidence. If you’re in your 50s or 60s and facing an unexpected job loss, this episode will help you turn uncertainty into a plan. Eric shares practical strategies for protecting your finances, evaluating severance offers, and even discovering new ways to define purpose and independence in the next phase of life. Layoffs can feel like the end — but for many, they’re the beginning of a more intentional and financially...
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Episode 10 - What the Big Beautiful Bill Means for Retirees
Independence Wealth Podcast
This month on the Independence Wealth Podcast, host Eric Nelson discusses the implications of the new tax law, the One Big Beautiful Bill, for retirees and pre-retirees. He covers changes to standard deductions, tax brackets, and strategies for Roth conversions and retirement account withdrawals. In this episode: The One Big Beautiful Bill extends the Tax Cuts and Job Act from 2017. Standard deductions for retirees have increased substantially. Married couples filing jointly over 65 receive an additional $12,000 deduction. Lower tax brackets and bigger...
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Episode 9 - How RMDs Can Wreck Your Retirement
Independence Wealth Podcast
In this episode of the Independence Wealth Podcast, Eric Nelson delves into the complexities of Required Minimum Distributions (RMDs) and their potential impact on your retirement. Discover how RMDs can unexpectedly push you into higher tax brackets, increase your Medicare premiums, and disrupt your financial plans. Key Topics: - Understanding RMDs and their implications under the Secure Act 2.0. - The risks of tax bracket creep and increased Medicare premiums. - Strategies to mitigate the impact of RMDs, including Roth conversions and Qualified Charitable Distributions (QCDs). -...
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Episode 8 - Smart Tax Moves Within 5 Years of Retirement
Independence Wealth Podcast
Join Eric Nelson, founder of Independence Wealth, as he explores crucial tax strategies for those approaching retirement. This episode is packed with insights on how to make informed financial decisions that can save you significant amounts in taxes over the years. Key Topics: - The importance of Roth conversions and how they can benefit your retirement savings. - Understanding and managing Required Minimum Distributions (RMDs) to avoid higher tax brackets. - Diversifying your tax buckets for better control over your financial future. - Strategies for harvesting capital gains...
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Episode 7 - Navigating Market Volatility: A Guide for Retirees
Independence Wealth Podcast
In this episode of the Independence Wealth Podcast, Eric Nelson discusses the importance of understanding market volatility, especially for retirees. He emphasizes the emotional aspects of market downturns and provides strategies for navigating these challenges, including the significance of staying invested and avoiding panic selling. Eric introduces the bucket strategy as a method for financial security, ensuring that clients have adequate cash reserves to weather market fluctuations. He concludes by encouraging listeners to focus on their financial plans and ignore the noise from the media...
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Episode 6 - Supporting Your Adult Children Without Sacrificing Your Own Retirement
Independence Wealth Podcast
In this episode of the Independence Wealth Podcast, Eric Nelson discusses the delicate balance of providing financial support to adult children while ensuring one's own financial security and retirement readiness. He emphasizes the importance of setting boundaries, understanding the long-term implications of financial assistance, and encouraging financial independence among children. The conversation also touches on the emotional aspects of parental support and the potential risks of overextending oneself financially. Key Takeaways: Helping adult children can jeopardize your own financial...
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Episode 5 - Retirement Income Strategies
Independence Wealth Podcast
In this episode, Eric Nelson discusses retirement income strategies, focusing on the traditional 4% rule and the more dynamic guardrails approach. He explains the importance of having a sustainable withdrawal strategy and how each method can impact retirement income. The conversation emphasizes the need for flexibility in withdrawals based on market conditions and personal financial goals, encouraging listeners to consider which strategy aligns best with their individual circumstances. Key Takeaways The 4% rule is a widely accepted withdrawal strategy. It allows retirees to estimate...
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Episode 4 - Timing Your Social Security
Independence Wealth Podcast
Eric Nelson, a certified financial planner, discusses the importance of timing Social Security benefits, which can impact a retiree's lifetime income, taxes, and legacy planning. He explains the three key ages: 62 (earliest), 67 (full retirement age), and 70 (maximized benefits). Delaying benefits until 70 increases them by 8% annually, but early collection reduces benefits by 30%. Nelson emphasizes understanding cash flow needs, survivor benefits, and coordinating Social Security with other retirement income. He advises against paying back benefits once collected and stresses the importance...
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Episode 3 - Mastering Retirement Income: Strategies for a Secure Future
Independence Wealth Podcast
In this episode of the Independence Wealth Podcast, Eric Nelson discusses effective strategies for managing retirement income. He emphasizes the importance of understanding expenses categorized into needs, wants, and wishes, and highlights the significance of identifying reliable income sources such as Social Security and pensions. The conversation also covers withdrawal strategies, including the traditional 4% rule and a more flexible guardrails approach, while addressing the impact of inflation and market risks on retirement planning. Eric concludes with key takeaways for listeners to...
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Episode 2 - Finding Purpose in Retirement
Independence Wealth Podcast
In this episode of the Independence Wealth Podcast, Eric Nelson discusses the often-overlooked aspect of retirement: finding purpose and fulfillment. He emphasizes the importance of planning for how to fill time in retirement, exploring hobbies, and maintaining social connections. Eric also outlines a financial framework for retirement, categorizing expenses into needs, wants, and wishes, and stresses the significance of creating a fulfilling routine to enhance mental and physical well-being. Key Takeaways: Retirement is about finding purpose beyond work. Planning for hobbies and activities is...
info_outlineOn this episode of the Small Business Founders Podcast your host, Eric Nelson, CFP® interviews Mike Regina, founder of Big Sky Enterprises, LLC, Global Post Auditing Solutions, The Opposite Entrepreneur Podcast, and mikeregina.io discusses how business can thrive by using relationship marketing, personal branding, and how he helps businesses generate exceptional ROI.