078 Retirement Income Planning Using the "Bucket Plan" Concept
The Chris Berry Show
There are two key ingredients that are viewed as really the foundation of moving into retirement and beyond. These two, pieces to the foundation are creating the legal entity, the legal structure. That's estate plan, the will, the trust and then the second piece of it, and this is really what gives people a lot of peace of mind as it relates to moving into retirement is creating that income plan. Join Chris Berry in this episode where he shares the retirement income planning using the "Bucket Plan" concept. In this episode, you'll learn... - Chris’ positive focus for the week - My book on...
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077 The Elder Care Journey and a Free Book Offer
The Chris Berry Show
So this week on the show I will highlight the book, The Caregivers Legal Guide to Planning for a Loved One With Chronic Illness - this book will give you some guide, kind of create a roadmap for the long-term care journey, the elder care continuum of needing maybe home care or assisted living or assisted living with memory care or nursing home care. Our book that I wrote is specifically to help you navigate that long-term care journey, to give you insider strategies from an advisor and certified elder law attorney that has helped countless families. I'll also share points and deep dive on long...
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076 Mitigating Retirement Risks
The Chris Berry Show
This week on the Chris Berry Show, what we're going to do in our second and third segments is we're going to get into the changing retirement risks. So the risks that maybe your parents or the previous generation had, the risks are a little bit different these days. And we're going to get into what those risks are and what you can do to try to mitigate some of those risks. In this episode, you'll learn... - Chris’ positive focus for the week - Longevity Risk - The sequence of return of risk - Long Term Care Risk - Market Risk - Tax Risk - Stock Market Trending News - Understanding how...
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075 Stress Testing Your Estate Plan
The Chris Berry Show
It starts with the estate planning stress test that looks at the amount of stress your family would have to deal with if something were to happen to you right now. Things like going through probates, creating your retirement and legacy blueprint, important steps your family needs to take when something happens to you and addressing potential outside influences and challenges the transfer of an estate or lay claim to funds will be covered today. These are only some of the things you need to consider. In this episode we will run through the 20 questions about stress testing your estate...
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074 Why 2021 Offers A Window Of Opportunity For Us
The Chris Berry Show
For a lot of people, one of the things that they have on their checklist for 2021 is to finally get that estate plan either done or to update that estate plan. That's what we'll spend time talking about in this episode. We dive deep into the things you need to think about when it comes to putting together an estate plan. What are the tools that we need as we put together an estate plan? In this episode, you'll learn... - Chris’ positive focus for the week - New tax season fundamentals - The real fact behind the Secure Act - Tax conversation of how much money to pull out of...
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073 Protecting Yourself from the Three Big Risks In Retirement
The Chris Berry Show
Planning your retirement can be done easily but we may overlook the risks behind it. When creating your own retirement and legacy blueprint, it is important to take into account strategies to protect you from risks. In today's episode, we dive deep into the three biggest risks in retirement with the options to protect yourself from these risks. In this episode, you'll learn... - Chris’ positive focus for the week - Introduction to the risks in retirement - Tax Risk - What happens to tax brackets when the Tax Cuts and Jobs Act ends - How the country’s debt affect tax -...
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072 Year-End Review and Risk Planning
The Chris Berry Show
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...
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071 The Alphabet Soup Of Medicare
The Chris Berry Show
Medicare can be confusing, there are a lot of details and information to understand. As part of the 5 key areas that make up the retirement and legacy blueprint, it is important that you are guided correctly in making sure that this is covered. Information about Medicare is all over the net and is hard to know which one is right for you. In this episode, I will discuss the details of Medicare to help you better understand. You can use the tools that I will share to ensure that you get a sound plan and decision making. In this episode, you'll learn... - Chris’ positive focus for the...
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070 The New Paradigm of Retirement
The Chris Berry Show
There is an old paradigm of retirement where you defer tax payment as long as possible until you find out that you pay more in taxes with this approach. This may be resonating with you right now if you are in the higher tax bracket. A proper tax planning report can help to show you the macro view of minimizing taxes in your lifetime. Retirement is different for everyone and the strategy to distribute these accumulated assets is specific. Let’s look at different topics as we look at this and possibly consider it with a new paradigm shift. I will share with you how to anticipate the future of...
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069 Asset Protection and Family Law with John Ceci
The Chris Berry Show
If you are going through a process with any of the 4D’s - Divorce, Disability, and Death, assets come into play. There is really no guarantee on any type of asset protection. When it ends up in court, you never know what is going to happen. Understand that there is no assurance, but you can build in layers of protection. Today, with our guest Atty. John Ceci, we are going to talk about divorce, asset protection that you can build in layers of protection ahead of time and use legal strategies that you can shield yourself with. In this episode, you'll learn... - Chris’ positive focus for the...
info_outlineDo you know when to start taking social security benefits?
Social security is one of the important things that fits into the five ways that we help clients. We help clients in five different respects; We call this a retirement game plan, the five pillars of a retirement game plan. First would be income planning, and this is where social security fits into play, and how you are going to manage income in retirement. Because you're going to have an income gap where all of a sudden you retire and now you need to make sure that your income is matching your expenses.
In this episode of The Chris Berry Show, I’ll talk about some strategies for taking social security benefits at retirement, and how to handle 401k rollovers.
In this episode, you’ll learn...
- Chris’ positive focus for the week.
- The 5 pillars of a retirement game plan.
- Tax efficient social security strategies.
- How to get more information on social security benefits.
- Why waiting to take social security can be so beneficial.
- How to look at the full picture of retirement and social security, not just the numbers.
- Important questions to ask yourself when you think it's time to retire.
- How to weigh your goals for retirement.
- Why you might want to roll over a 401k.
- How a trust can work with an IRA.
- What to do if you inherit an IRA.
- How you can get a free report about rolling over your 401k.
Q&A
In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at [email protected]. Here are the questions I covered in this episode:
- What considerations are important for people who have blended families?
- What life changes would signal that we need to update our legal, financial, or tax planning?
Links & Resources
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