Beer & Money
Welcome to Beer and Money, a financial fireside chat for business professionals. We work to simplify your finances so that you can enjoy your life. Your hosts, Ryan Burklo and Alex Collins are financial advisors based out of Seattle, Washington. This material is intended for general public use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Guardian, its subsidiaries, agents and employees do not provide tax, legal or accounting advice. Consult your tax, legal or accounting professional regarding your individual situation. Securities products and advisory services offered through Park Avenues Securities LLC (PAS), member FINRA, SIPC. OSJ 333 N. Indian Hill Blvd, Claremont, CA, 909-399-1100. PAS is a wholly-owned subsidiary of Guardian. Quantified Financial Partners is not an affiliate or subsidiary of PAS or Guardian. Ryan Burklo, AR Insurance License # 15319412, CA Insurance License # 0K24924, Alexander Collins AR Insurance License # 7264699, CA Insurance License # 0H24806. #2022-133647 Exp 02/2024 Visit our website www.QuantifiedFinancial.com
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Episode 307 - Should You Overpay Your Mortgage? Part 2
06/30/2025
Episode 307 - Should You Overpay Your Mortgage? Part 2
In this episode, Ryan Burklo and Alex Collins discuss the implications of overpaying a mortgage and explore alternative strategies for managing cash flow and financial planning in retirement. They emphasize the importance of flexibility in financial decisions, particularly regarding mortgage payments, and the role of life insurance in providing additional security and cash flow. The conversation highlights the need for strategic planning to address potential financial challenges in retirement, such as market volatility and unexpected expenses. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Overpaying a mortgage may not always be the best financial decision. Flexibility in financial planning allows for better management of cash flow. Life insurance can provide both security and cash value for retirement. Retirees often fear running out of money more than death. Strategic financial planning is essential for addressing unexpected expenses. Having liquid assets can provide more options in retirement. It's important to consider taxes and insurance in financial planning. A well-structured financial plan can reduce reliance on market performance. Retirement planning should include considerations for long-term care. Effective distribution strategies can enhance cash flow in retirement. Chapters 00:00 Introduction to Mortgage Overpayment Discussion 02:46 Historical Context of Mortgage Payment Mindset 06:02 Retirement Concerns and Financial Flexibility 09:02 Alternative Strategies for Mortgage Management 12:03 Comparative Analysis of Financial Strategies 14:52 The Importance of Financial Planning and Flexibility
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Episode 306 - Should You Overpay Your Mortgage? Part 1
06/23/2025
Episode 306 - Should You Overpay Your Mortgage? Part 1
In this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the common financial question of whether individuals should overpay on their mortgages. They explore the implications of mortgage overpayment on cash flow, financial stress, and overall financial planning. The conversation emphasizes the importance of liquidity and how having access to cash can alleviate financial worries, especially as individuals approach retirement. Through various strategies, they illustrate how managing cash flow effectively can lead to better financial outcomes and peace of mind. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways The top financial question is whether to overpay on a mortgage. Many clients feel financially stressed despite having good incomes. Cash flow and liquidity are crucial for financial peace of mind. Overpaying on a mortgage can reduce long-term debt stress. Having cash reserves can provide opportunities and reduce anxiety. Financial planning should consider both cash flow and balance sheet. Real-life financial decisions often differ from spreadsheet calculations. Peace of mind is a valuable aspect of financial planning. Strategies should be tailored to individual circumstances and needs. Liquidity can sometimes be more important than maximizing returns. Chapters 00:00 Understanding Mortgage Overpayment Concerns 05:43 The Cash Flow Conversation 10:57 Strategies for Mortgage Management 14:25 The Importance of Liquidity and Peace of Mind
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Episode 305 - State of Washington Estate Tax: What You Need To Know Now
06/16/2025
Episode 305 - State of Washington Estate Tax: What You Need To Know Now
In this episode, Ryan Burklo and Alex Collins discuss the impending changes to the Washington State estate tax, including updates to the exemption limits and tax rates. They emphasize the importance of proper estate planning to navigate these changes effectively and ensure that individuals and families can protect their assets and minimize tax liabilities. The conversation highlights the need for coordination among financial advisors, estate planning attorneys, and CPAs to create a comprehensive estate plan that addresses both state and federal tax implications. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Below are the episodes mentioned by Ryan & Alex: Episode 274 Episode 281 Takeaways Washington State is considering changes to its estate tax. The current exemption is $2.2 million per person. Proper estate planning is crucial to avoid losing exemptions. The proposed exemption may increase to $3 million. Tax rates are set to increase significantly. Coordination between financial professionals is essential. Real estate values in Washington can quickly lead to estate tax issues. Life insurance can be subject to estate taxes depending on ownership. Individuals should act now to prepare for these changes. Understanding both state and federal estate tax implications is vital. Chapters 00:00 Introduction to Washington State Estate Tax Changes 02:57 Understanding the Current Estate Tax Exemption 06:01 Proposed Changes to Estate Tax Exemption 08:57 Impact of Increased Tax Rates 11:58 Importance of Estate Planning 15:05 Conclusion and Call to Action
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Episode 304 - What is Index Investing?
06/09/2025
Episode 304 - What is Index Investing?
In this episode of Beer and Money, Ryan Burklo and Alex Collins delve into the intricacies of index investing, particularly focusing on the S&P 500. They discuss common misconceptions about index investing, the importance of diversification, and the risks associated with over-concentration in large-cap stocks. The conversation also touches on the differences between active and passive investing strategies, emphasizing the need for a well-rounded approach to portfolio management. The hosts aim to educate listeners on making informed investment decisions and understanding the market dynamics that can impact their financial future. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Index investing is a passive strategy that replicates market performance. Many investors misunderstand the implications of being an index investor. The S&P 500 is heavily weighted towards a few large companies. Diversification is crucial, but not all index funds provide true diversification. Investing in smaller companies can yield higher returns over time. Market cap weighting can lead to over-concentration in a few stocks. Active investing strategies can still be relevant in today's market. Investors should be cautious of chasing past performance. Understanding the underlying assets in a portfolio is essential. A well-diversified portfolio can help mitigate risks during market downturns. Chapters 00:00 Understanding Index Investing 03:07 The S&P 500: A Closer Look 06:07 The Importance of Diversification 09:03 Active vs. Passive Investing 12:05 The Risks of Over-Concentration 14:58 Navigating Market Changes 17:50 Conclusion and Key Takeaways
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Episode 303 - What is Mortgage Recasting?
06/02/2025
Episode 303 - What is Mortgage Recasting?
In this week's episode of Beer and Money, Ryan Burklo explains the concept of mortgage recasting — a lesser-known alternative to refinancing. He walks listeners through a scenario in how this process works. While not available through all lenders (especially federal loans), mortgage recasting can be a valuable strategy for those looking to improve cash flow or prepare for retirement without refinancing at a higher interest rate. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Definition of mortgage recasting Recasting provides an alternative to refinancing Recasting keeps your interest rate intact There are restrictions depending on your individual situation Chapters 0:00 Understanding Mortgage Recasting 2:49 Practical Applications and Benefits of Recasting
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Episode 302 - Lessons From Our Clients
05/26/2025
Episode 302 - Lessons From Our Clients
In this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the valuable lessons learned from their experiences with clients over the years. They explore the importance of maintaining emotional balance, planning for both success and worst-case scenarios, and the significance of taking time for family and personal health. The conversation emphasizes the need for flexibility in financial planning and the evolving nature of personal goals. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Never get too high or too low in life. Plan for success but also prepare for the worst. Take opportunities to spend time with family. Health should be a priority in financial planning. Understand that goals can change over time. It's important to know what you truly want. Flexibility in finances allows for spontaneous experiences. Emotional intelligence is key in financial advising. Living today while saving for tomorrow is possible. Learning from clients' experiences enriches personal growth. Chapters 00:00 Introduction to the Conversation 01:10 Lessons Learned from Clients 05:33 Planning for Success and Flexibility 09:12 Personal Insights on Health and Values 14:27 Emotional Intelligence in Financial Planning
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Episode 301 - How Buffered ETFs Can Fit Into Your Financial Plan
05/19/2025
Episode 301 - How Buffered ETFs Can Fit Into Your Financial Plan
In this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the role of buffered ETFs in financial planning. They explore the mechanics of buffered products, including their potential for equity exposure and downside protection. The conversation delves into how these products can be integrated into financial strategies, particularly for individuals nearing retirement or already retired. The hosts emphasize the importance of understanding the risks and returns associated with buffered ETFs and how they can provide flexibility in investment decisions. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Buffered ETFs provide equity exposure with downside protection. Understanding caps and downside risks is crucial for investors. Buffered products can be beneficial for those nearing retirement. It's important to diversify investment strategies with buffered ETFs. Buffered ETFs can offer flexibility in retirement income planning. Investors should be aware of the fees associated with buffered products. The structure of buffered ETFs can vary significantly. Market volatility can impact the effectiveness of buffered ETFs. Buffered ETFs are not a one-size-fits-all solution. Financial advisors play a key role in guiding clients on buffered products. Chapters 00:00 Introduction to Buffered ETFs 02:48 Understanding Buffered Products 05:50 Exploring Financial Planning with Buffered ETFs 11:59 Utilizing Buffered ETFs in Retirement 15:01 The Role of Risk and Return in Financial Strategy
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Episode 300 - Retirement Strategies Beyond Market Dependency
05/12/2025
Episode 300 - Retirement Strategies Beyond Market Dependency
In this episode, Ryan Burklo and Alex Collins discuss effective retirement planning strategies that ensure individuals are not solely dependent on market performance for their retirement income. They emphasize the importance of liquidity, market risks, and the need for a diversified approach to asset allocation. The conversation highlights various withdrawal strategies and the impact of market volatility on retirement savings, ultimately advocating for a balanced approach that mitigates risks while maximizing financial security. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: TAKEAWAYS Rate of return should not dictate retirement timing. Market performance becomes salient when it hits you. Understanding liquidity is crucial for retirement planning. Market volatility can significantly impact retirement income. Having a liquid fund can protect against market downturns. Diversifying asset allocation is key to financial security. It's important to have a strategy for withdrawals during retirement. Clients often prefer less risk for more certainty in retirement. Comparative analysis of different retirement scenarios is essential. Effective planning can lead to increased cash flow and reduced taxation. Chapters 00:00 Introduction to Retirement Planning Strategies 02:52 Understanding Market Risks and Retirement Withdrawals 06:08 The Importance of Liquidity in Retirement 09:00 Strategies for Managing Market Volatility 12:03 Comparative Analysis of Retirement Scenarios 14:57 Trade-offs in Risk and Return 18:01 Conclusion and Call to Action
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Episode 299 - To Roth or Not To Roth Part 3
05/05/2025
Episode 299 - To Roth or Not To Roth Part 3
In this episode of Beer and Money, Alex Collins discusses the intricacies of converting traditional IRAs to Roth IRAs, including the types of conversions, strategies for implementation, and the tax implications involved. He emphasizes the importance of consulting with tax advisors and financial planners to navigate these decisions effectively. The conversation also covers the timing of conversions, potential costs, and unintended consequences as individuals approach retirement. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Check out your tax rate (the site Alex mentioned): Takeaways Conversions can be from traditional IRA to Roth IRA. Non-deductible contributions can be converted tax-free. Pre-tax conversions will incur tax liabilities. Timing conversions during low-income years is beneficial. Understanding historical income levels aids in planning. Most people remain in the same or higher tax bracket in retirement. Calculating the cost of conversions is crucial. Medicare costs can be affected by conversions. Consulting with professionals is essential for tax strategies. Unintended consequences can arise from poor planning. Chapters 00:00 Introduction to Conversions 01:24 Types of Conversions Explained 03:25 Strategies for Converting to Roth 04:40 When to Consider Conversions 07:12 Understanding Tax Implications 09:29 Calculating Costs of Conversion 11:43 Unintended Consequences Near Retirement
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Episode 298 - To Roth or Not To Roth Part 2
04/28/2025
Episode 298 - To Roth or Not To Roth Part 2
In this episode of Beer and Money, Alex Collins discusses various strategies for contributing to Roth accounts, including Roth IRAs, Roth 401ks, backdoor Roths, municipal bonds, and permanent life insurance. He emphasizes the importance of consulting with tax professionals and understanding individual circumstances when choosing the best strategy for tax-free growth and withdrawals. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Roth accounts use after-tax dollars for contributions. Roth IRA contribution limits are $7,000 per person per year. Income limits apply for Roth IRA contributions. Roth 401k options are increasingly common in employer plans. Conversions from traditional to Roth accounts incur taxes. Municipal bonds offer tax-exempt income but vary by state. Permanent life insurance can provide tax-free access to cash value. Consulting a tax advisor is crucial for these strategies. Understanding individual financial situations is key to choosing strategies. A combination of strategies may be the best approach. Chapters 00:00 Introduction to Roth Strategies 02:25 Exploring Roth IRA Contributions 04:14 Understanding Roth 401k Options 06:54 Utilizing Municipal Bonds for Tax Benefits 08:15 Permanent Life Insurance as a Roth Strategy
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Episode 297 - To Roth or Not To Roth Part 1
04/21/2025
Episode 297 - To Roth or Not To Roth Part 1
In this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the nuances of Roth accounts, focusing on when to contribute to them and the importance of understanding tax brackets. They explore the differences between marginal and effective tax rates, the significance of tax diversification, and strategies for funding Roth accounts. The conversation emphasizes the need for personalized financial planning and the impact of future income on tax strategies. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Roth accounts can provide tax-free growth and withdrawals. Understanding your tax bracket is crucial for Roth contributions. Marginal tax rates affect how additional income is taxed. Effective tax rates give a clearer picture of overall tax burden. Tax diversification can help manage future tax liabilities. Future income predictions are essential for retirement planning. Consulting with a tax advisor is important for personalized strategies. Roth accounts can be beneficial for unexpected expenses in retirement. Funding Roth accounts requires strategic planning and foresight. Financial planning should consider the entire balance sheet, not just individual accounts. Chapters 00:00 Introduction to Roth Accounts 02:47 Understanding Tax Brackets and Rates 05:47 When to Consider Roth Contributions 08:59 The Importance of Tax Diversification 11:56 Funding Roth Accounts and Future Planning
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Episode 296 - 5 Things To Help You Financially Plan for Retirement Part 2
04/14/2025
Episode 296 - 5 Things To Help You Financially Plan for Retirement Part 2
In this episode of Beer and Money, Ryan Burklo discusses essential aspects of retirement planning, focusing on cash flow, taxation, and the risks associated with relying solely on market returns. He emphasizes the importance of setting up a flexible balance sheet to ensure financial security in retirement, while also addressing legacy objectives and minimizing tax liabilities. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways We care about the highest cash flow to live the life we want. We want to pay the lowest rate of tax on that cash flow. We never want to outlive or outrun our money. We want to hit legacy objectives for our family. We want to do these with minimal dependence on rate of return. Understanding tax distribution status is crucial for retirement planning. Relying solely on market returns can be risky. Setting up a flexible balance sheet is essential for financial security. Life insurance can provide both protection and cash value. It's important to consider how to turn on income streams in retirement. Chapters 00:00 Introduction to Retirement Planning 01:24 Understanding Cash Flow and Taxation 04:51 The Risks of Relying on Rate of Return 09:12 Setting Up a Flexible Balance Sheet
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Episode 295 - 5 Things To Help You Financially Plan for Retirement Part 1
04/07/2025
Episode 295 - 5 Things To Help You Financially Plan for Retirement Part 1
In this episode of Beer and Money, Ryan Burklo discusses the essential elements of retirement planning, emphasizing the importance of making informed decisions today to secure a successful retirement in the future. He outlines key factors that individuals should consider when saving for retirement, including income needs, tax implications, and the desire to leave a legacy. The episode also delves into asset allocation strategies and the use of Monte Carlo simulations to assess the risk of outliving one's savings. Ryan concludes by hinting at future discussions on cash flow strategies and retirement planning techniques. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways We're making decisions today that will affect our lifestyle. They want the highest cash flow possible. They want to pay the lowest rate of tax. They never want to outlive their money. They want to meet any legacy objectives. Most wealth is in 401k type plans. Monte Carlo simulations help assess financial risks. A conservative portfolio can yield an average of 8%. The 4% rule is a common guideline for withdrawals. Building a flexible bucket of money is crucial. Chapters 00:00 Introduction to Retirement Planning 01:15 Key Factors in Retirement Savings 02:40 Understanding Asset Allocation 04:56 Monte Carlo Simulation Explained 06:56 Strategies to Avoid Outliving Your Money 08:53 Conclusion and Next Steps
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Episode 294 - Finding My "Why" As A Financial Advisor - Alex Collins
03/31/2025
Episode 294 - Finding My "Why" As A Financial Advisor - Alex Collins
In this episode of Beer and Money, Alex Collins shares his personal journey in the finance industry, discussing his background, the importance of financial planning, and the impact of partnerships in his career. He emphasizes the significance of helping clients achieve their financial goals and the emotional aspects of financial planning, particularly in times of loss. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Alex Collins has a strong foundation in finance from a young age. He combines his parents' professions to help others with money. Understanding cash flow is crucial in financial planning. Partnerships in finance can enhance client service. Alex's passion lies in helping clients realize their dreams. Financial planning can provide security in times of tragedy. The importance of communication in financial advisory is key. Alex's journey includes overcoming struggles in his career. He values the relationships built with clients over the years. Helping clients enjoy their lifestyle is a priority. Chapters 00:00 Introduction to Alex Collins and His Journey 03:01 The Intersection of Finance and Personal Goals 05:56 Building Partnerships in Financial Advisory 09:05 The Impact of Financial Planning on Lives
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Episode 293 - Finding My "Why" as a Financial Advisor - Ryan Burklo
03/24/2025
Episode 293 - Finding My "Why" as a Financial Advisor - Ryan Burklo
In this episode of Beer and Money, Ryan Burklo shares his personal journey and professional evolution into financial advising. He discusses his background, the importance of understanding client goals, and the role of effective communication in financial planning. Ryan emphasizes that financial planning is not just about money, but about helping clients achieve their desired lifestyles and goals. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Ryan Burklo shares his personal story to build trust. Understanding client goals is crucial for effective advising. Cash flow is a key component of financial planning. Communication is essential in discussing financial matters. Helping clients take action is a primary focus. Financial planning should align with personal values and goals. Money is a tool to achieve desired lifestyles. Building relationships with clients enhances the advising process. Ryan's journey reflects the ups and downs of entrepreneurship. The podcast aims to provide valuable insights into personal finance. Chapters 00:00 Introduction and Personal Background 05:46 The Importance of Communication in Financial Planning
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Episode 292 - What is an Umbrella Policy?
03/17/2025
Episode 292 - What is an Umbrella Policy?
In this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the importance of umbrella policies in personal finance. They explain what an umbrella policy is, how it provides an extra layer of liability insurance beyond standard policies, and why it is crucial for protecting assets and income. The conversation also covers the cost-effectiveness of these policies and how to determine the right amount of coverage needed. The hosts emphasize the importance of consulting with financial and insurance professionals to ensure adequate protection against potential lawsuits. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Umbrella policies are critical for financial protection. Many clients are unaware of what an umbrella policy is. An umbrella policy provides additional liability coverage. The cost of an umbrella policy is relatively low. One claim can cover the entire cost of the policy. It's essential to have enough coverage to protect your assets. Consult with insurance agents to understand your options. Insurance companies are becoming stricter with coverage limits. Communication between financial advisors and insurance agents is vital. Understanding your risk exposure is key to financial planning. Chapters 00:00 Introduction to Umbrella Policies 02:03 Understanding the Importance of Umbrella Policies 04:05 What is an Umbrella Policy? 07:58 Cost and Value of Umbrella Policies 09:48 How Much Coverage Do You Need? 11:55 Conclusion and Call to Action
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Episode 291 - Time to Talk about Exchange Funds
03/10/2025
Episode 291 - Time to Talk about Exchange Funds
In this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the concept of exchange funds, particularly for individuals with concentrated stock positions. They explore the implications of holding large amounts of stock in a single company, the tax ramifications of diversifying, and various strategies to manage risk and enhance portfolio diversification. The conversation emphasizes the importance of working with financial and tax advisors to create a tailored strategy for managing concentrated stock positions. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Exchange funds are a solution for diversifying concentrated stock positions. Concentrated stock positions can lead to significant financial risk. Tax implications are crucial when considering diversification strategies. Exchange funds require a long-term commitment, often up to seven years. Diversification can be achieved through various strategies, including options. A collared option strategy can protect against downside risk while allowing for some upside. Exchange fund replication maintains liquidity while providing diversification benefits. It's essential to coordinate with financial and tax advisors for effective planning. Investors should consider their overall portfolio strategy, not just individual investments. Creating a financial plan is vital for managing concentrated stock positions. Chapters 00:00 Introduction to Exchange Funds 02:32 Understanding Concentrated Stock Positions 05:39 Defining Exchange Funds 07:53 Strategies for Diversification 13:17 Advanced Strategies for Managing Stock Positions 16:33 Final Thoughts and Recommendations
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Episode 290 - 2 Misunderstandings about Dividends
03/03/2025
Episode 290 - 2 Misunderstandings about Dividends
In this episode of Beer & Money, Ryan Burklo discusses two common misunderstandings about dividends. He explains what dividends are, how they affect stock prices, and the tax implications associated with them. The episode aims to educate listeners on the nuances of dividends, emphasizing the importance of understanding their impact on investments and taxes. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Dividends are payments made by companies to shareholders from profits. When dividends are paid, stock prices typically decrease by the dividend amount. Dividends are taxed as ordinary income, which can be higher than capital gains tax. Long-term capital gains tax rates can be significantly lower than ordinary income tax rates. Understanding the tax implications of dividends is crucial for effective financial planning. Investors should consider both dividends and stock price appreciation in their strategies. Consulting with a CPA can help clarify individual tax situations regarding dividends. The perception of dividends can be overly positive or negative; understanding is key. Financial education is essential for making informed investment decisions. Controlling finances and understanding investments leads to better financial outcomes. Chapters 00:00 Understanding Dividends: The Basics 02:47 The Impact of Dividends on Stock Prices 06:05 Tax Implications of Dividends vs. Capital Gains
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Episode 289 - Are You Inheriting an IRA?
02/24/2025
Episode 289 - Are You Inheriting an IRA?
In this episode of Beer and Money, Ryan Burklo discusses the recent changes to the rules governing inherited IRAs, particularly focusing on the new 10-year rule that requires non-spouse beneficiaries to deplete inherited accounts within a decade. He explains the implications of this rule, exceptions for certain beneficiaries, and the importance of tax strategies when managing inherited funds. The episode emphasizes the need for financial planning and awareness of IRS regulations to avoid penalties and optimize tax efficiency. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways The 10-year rule requires non-spouse beneficiaries to deplete inherited IRAs within 10 years. Prior to 2020, beneficiaries could stretch withdrawals over their lifetime. Exceptions to the 10-year rule exist for minor children and disabled individuals. Tax planning is crucial when withdrawing from inherited IRAs. Delaying withdrawals until year 10 can lead to significant tax implications. Inherited traditional IRAs are subject to ordinary income tax rates upon distribution. Understanding these rules is imperative to avoid penalties. The IRS is now enforcing these rules more strictly than before. Financial planning should consider retirement timing and income changes. Resources are available for individuals to assess their financial situation. Chapters 00:00 Introduction to Inherited IRA Rules 00:30 Understanding the 10-Year Rule 02:27 Exceptions to the 10-Year Rule 03:28 Tax Strategies for Inherited IRAs 05:21 Conclusion and Resources
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Episode 288 - How to Maximize Your HSA
02/17/2025
Episode 288 - How to Maximize Your HSA
In this episode of Beer and Money, Ryan Burklo discusses the importance and benefits of Health Savings Accounts (HSAs). He explains the qualifications for opening an HSA, the contribution limits, and the unique triple tax advantage that HSAs offer. Ryan emphasizes the potential for long-term growth and the importance of investing the funds within an HSA for future medical expenses, especially in retirement. He also highlights common misconceptions about HSAs and encourages listeners to take advantage of this financial tool for better health expense management. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Health Savings Accounts (HSAs) offer a triple tax advantage. To qualify for an HSA, you must have a high deductible health plan. You can contribute up to $4,300 annually as an individual. HSAs allow for tax-free withdrawals for qualified medical expenses. 90% of Americans do not invest their HSA funds. HSAs can be used for medical expenses in retirement. Investing in an HSA can lead to significant long-term growth. Medical expenses are a constant concern in retirement planning. It's important to understand the difference between HSAs and FSAs. Utilizing HSAs effectively can lead to better financial health. Chapters 00:00 Introduction to Health Savings Accounts 03:14 Understanding the Triple Tax Advantage 06:03 Long-Term Benefits of HSAs
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Episode 287 - Tariffs 101
02/10/2025
Episode 287 - Tariffs 101
In this episode of Beer and Money, Ryan Burklo and Alex Collins delve into the complex topic of tariffs, exploring their definition, implications, and effects on businesses and the economy. They discuss the potential benefits and drawbacks of tariffs, including their impact on consumer prices and the risk of trade wars. The conversation emphasizes the importance of understanding market dynamics and preparing for economic volatility, particularly for small businesses and investors. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways A tariff is a tax on imported goods. Tariffs can generate revenue and potentially boost U.S. employment. Increased tariffs may lead to higher consumer prices. Trade wars can arise from tariff implementations. Smaller businesses are likely to be hit harder by tariffs. Economic models are complicated due to numerous variables. Investors should focus on long-term strategies. Maintaining liquidity is essential during volatile times. Market reactions to tariff announcements are immediate. Understanding your balance sheet is crucial for financial planning. Chapters 00:00 Understanding Tariffs: An Introduction 02:00 The Good and Bad of Tariffs 04:50 Impact on Businesses and Trade Wars 09:05 Navigating Economic Volatility and Investment Strategies
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Episode 286 - The 5 Principles of Investing
02/03/2025
Episode 286 - The 5 Principles of Investing
In this episode, Ryan Burklo discusses the five essential principles of investing, emphasizing the importance of having a well-structured balance sheet, understanding risk, diversifying investments, rebalancing portfolios, and maintaining good behavioral finance practices. He highlights how these principles can help investors navigate market fluctuations and achieve long-term financial success. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Your balance sheet should be set up appropriately before investing. Having an emergency fund is crucial before investing in stocks or bonds. Understanding your overall risk tolerance is essential for investment success. Diversification is necessary to mitigate risks associated with market volatility. Rebalancing your portfolio helps maintain your desired risk level over time. Behavioral finance plays a significant role in investment decisions. Investing is a long-term commitment, not just a short-term strategy. Don't put all your money in the S&P 500; consider other asset classes. Market timing is risky and often leads to poor investment decisions. Consulting with a financial advisor can help you navigate complex investment strategies. Chapters 00:00 Introduction to the Five Principles of Investing 01:26 Setting Up Your Balance Sheet 03:50 Understanding Risk: Stocks vs. Bonds 06:09 The Importance of Diversification 11:41 Rebalancing Your Portfolio 14:58 Behavioral Finance: Staying the Course
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Episode 285 - Let's Talk about Taxes Pt 3
01/27/2025
Episode 285 - Let's Talk about Taxes Pt 3
In this episode of Beer andMoney, Ryan Burklo discusses various tax strategies for retirement, emphasizing the importance of planning with the end in mind. He explores the implications of different income needs, the 4% withdrawal rule, and compares various tax strategies including amortization and annuities. The conversation highlights how where you place your money can significantly impact your tax bracket and overall financial health in retirement. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Understanding tax brackets is crucial for retirement planning. The 4% rule helps determine sustainable withdrawals. Amortization can provide a different tax strategy for income. Annuities can offer guaranteed income but have tax implications. Effective tax rates can vary significantly based on income sources. Planning with the end in mind allows for better tax strategies. Diversifying tax buckets can help control tax liabilities. Long-term planning is essential for maximizing retirement income. Where you put your money today affects future tax strategies. Engaging with financial professionals can simplify planning. Chapters 00:00 Introduction to Tax Strategies in Retirement 02:54 Understanding Income Needs and Tax Implications 06:10 Exploring the 4% Withdrawal Rule 08:59 Amortization as a Tax Strategy 11:54 Comparing Tax Strategies: Interest-Only vs. Amortization 15:00 Annuity as a Tax Strategy 18:03 Tax Implications of Annuities 20:45 Long-Term Tax Planning Strategies 23:12 Conclusion and Call to Action
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Episode 284 - Let's Talk about Taxes Pt 2
01/20/2025
Episode 284 - Let's Talk about Taxes Pt 2
In this episode of Beer and Money, Ryan Burklo discusses the importance of tax planning for retirement. He emphasizes the need to understand the net after-tax income and how different retirement accounts, such as traditional and Roth accounts, affect future tax liabilities. The conversation includes a visual representation of a fictitious client's financial situation, highlighting the distribution of taxable and non-taxable assets. Ryan encourages listeners to consider their own financial pie charts and the implications of their current saving strategies on future tax outcomes. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Tax planning is crucial for maximizing after-tax income in retirement. Understanding the difference between traditional and Roth accounts is essential. Future tax rates are uncertain, making personalized planning important. Visualizing your financial situation can help in making informed decisions. Having a balance of taxable and non-taxable assets can provide flexibility in retirement. It's important to consider the tax implications of your savings strategies now. Not all financial advice is one-size-fits-all; individual circumstances matter. The majority of assets in traditional retirement accounts can lead to higher taxes later. Planning with the end in mind can lead to better financial outcomes. Utilizing a financial scorecard can help assess your current situation. Chapters 00:00 Understanding Tax Planning for the Future 10:06 Visualizing Your Financial Future: The Importance of Tax Status
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Episode 283 - Let's Talk about Taxes Pt 1
01/13/2025
Episode 283 - Let's Talk about Taxes Pt 1
In this episode of Beer and Money, Ryan Burklo discusses the intricacies of the tax system, focusing on the differences between marginal and effective tax rates, how bonuses are taxed, and the implications of choosing between traditional and Roth retirement accounts. He emphasizes the importance of understanding these concepts for effective tax planning and long-term financial strategy. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Understanding the difference between marginal and effective tax rates is crucial. Your marginal tax rate does not apply to all your income. Bonuses are taxed at your highest marginal tax rate unless you cross into a new bracket. Effective tax rate gives a clearer picture of your overall tax burden. Retirement account choices can significantly impact future tax liabilities. Traditional IRAs lower your taxes now but can lead to higher taxes later. Roth IRAs are funded with after-tax dollars, allowing for tax-free withdrawals in retirement. Tax planning should consider both current and future tax implications. Collaboration between your CPA and financial advisor is essential for effective planning. It's important to think about how current decisions affect future tax situations. Chapters 00:00 Understanding Taxes: Marginal vs Effective Tax Rates 02:49 The Taxation of Bonuses and Income Planning 06:02 Retirement Accounts: Traditional vs Roth and Tax Implications
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Episode 282 - Understanding Recovery Rates in Investing
01/06/2025
Episode 282 - Understanding Recovery Rates in Investing
In this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the often misunderstood concept of recovery rates in investing, particularly after market downturns. They explore the mathematical realities of recovering from losses, the importance of strategic retirement planning, and the need for a balanced approach to investing that includes both market and non-market assets. The conversation aims to debunk common myths about rate of return and emphasizes the significance of cash flow in retirement planning. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways We often underestimate the impact of market losses on retirement planning. To recover from a 22% loss, you need more than a 22% gain. Mathematically, recovering from losses is more complex than it seems. Investors should consider both market and non-market assets for retirement. Cash flow is crucial for retirement, not just rate of return. Planning for retirement requires understanding recovery rates. Market downturns can significantly affect retirement timelines. Diversifying investments can provide more flexibility in retirement. It's essential to control your retirement timing, not just rely on market performance. Understanding financial planning can help mitigate risks associated with market fluctuations. Chapters 00:00 Introduction to Recovery Rates in Investing 02:22 Understanding Market Downturns and Recovery Rates 10:01 Strategies for Retirement Planning Post-Loss 14:56 Debunking Myths About Rate of Return and Cash Flow
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Episode 281 - Traversing The Estate Planning Maze with Rob Bukacek
12/30/2024
Episode 281 - Traversing The Estate Planning Maze with Rob Bukacek
In this episode of Beer and Money, Ryan Burklo, Alex Collins, and estate planning expert Rob Bukacek discuss the intricacies of estate planning. They cover the importance of having a trust, the process of finding the right attorney, and how to prepare for meetings with legal professionals. The conversation emphasizes the need for proper documentation, the significance of choosing beneficiaries wisely, and the necessity of reviewing estate plans regularly. Listeners are encouraged to take proactive steps in their estate planning to ensure their wishes are honored and their loved ones are taken care of. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Estate planning is essential for everyone, not just the wealthy. A trust can manage your assets while you're alive and incapacitated. Choosing the right attorney is crucial for effective estate planning. Prepare for your attorney meeting by knowing who will manage your finances. Consider who will inherit your assets and how to protect them. Special needs children require specific planning to maintain benefits. Review and update your estate plan regularly, especially after major life events. Having a financial advisor can help navigate the estate planning process. Communication with your attorney is key to a successful estate plan. Be proactive in your estate planning to avoid complications for your loved ones. Chapters 00:00 Introduction to Estate Planning 02:24 Understanding Trusts and Wills 06:02 The Importance of Estate Planning Documents 11:21 Finding the Right Estate Planning Attorney 16:19 Preparing for Your Attorney Meeting 20:30 Who Gets Your Stuff? Planning for Beneficiaries 24:11 Special Considerations for Children and Heirs 27:29 Reviewing and Updating Your Estate Plan 30:51 The Role of Advisors in Estate Planning
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Episode 280 - Understanding Obligations & Goals
12/23/2024
Episode 280 - Understanding Obligations & Goals
In this episode of Beer and Money, Ryan Burklo discusses the concept of obligations that individuals actually want to have in their lives. He emphasizes the importance of understanding personal goals beyond traditional financial aspirations, such as retirement and education for children. Ryan encourages listeners to reflect on their current obligations and how they align with their desired lifestyle, particularly in relation to family time and personal health. He shares personal anecdotes about his own experiences with work-life balance and the compromises he has made, ultimately urging listeners to consider how their financial choices can better support their values and desired lifestyle. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Reflect on what obligations you truly want to have. Traditional goals may not reflect your true desires. Time with family is often sacrificed for work. Financial choices should align with personal values. Hiring help can free up time for family experiences. Health is a crucial aspect of a fulfilling life. Evaluate where you spend your time and money. Define what 'rich' means to you personally. Align your financial planning with your life goals. Involve family in discussions about financial obligations. Chapters 00:00 Understanding Obligations and Goals 06:02 Financial Choices and Lifestyle
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Episode 279 - Inheritance vs Investment
12/16/2024
Episode 279 - Inheritance vs Investment
In this episode of Beer and Money, Ryan Burklo discusses the critical distinction between inheritance and investment, drawing from a transformative conversation with a mentor. He emphasizes the importance of investing in children today rather than solely focusing on leaving an inheritance. The discussion highlights how experiences and values can shape financial education and generational wealth, ultimately leading to a more meaningful legacy. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Inheritance is typically received after a loved one passes away. Investment is about believing in and supporting your children today. Generational wealth should focus on experiences, not just money. Investing in children can create valuable life lessons. The relationship between money and values is crucial for children. Parents may prefer to spend time with their children rather than just leaving them money. Financial education should start early to prepare children for the future. Creating a life your children are proud of is essential. Mentorship can reshape our understanding of financial planning. Engaging with children about money can foster better financial habits. Chapters 00:00 Introduction to Inheritance vs. Investment 01:29 Defining Inheritance and Investment 03:42 The Shift in Perspective: Investing in Children 06:02 Conclusion and Call to Action
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Episode 278 - The Five Biggest Factors of Retirement Planning
12/09/2024
Episode 278 - The Five Biggest Factors of Retirement Planning
In this episode of Beer and Money, Ryan Burklo and Alex Collins discuss the five biggest factors of retirement planning, emphasizing the importance of income streams, asset location, liquidity, tax distribution status, and tax strategy. They challenge the conventional focus on accumulating a large nest egg and encourage listeners to consider how their savings will translate into cash flow during retirement. The conversation highlights the need for a comprehensive approach to retirement planning that goes beyond just investment returns. Check out our website: beerandmoney.net For a quick assessment of your current financial life go to: Takeaways Retirement planning involves more than just accumulating wealth. Income streams are crucial for a successful retirement. Asset location affects tax implications and cash flow. Liquidity is essential for taking advantage of opportunities. Tax strategy can significantly impact retirement income. Understanding tax brackets is vital for effective planning. The timing of income and tax strategies matters. Diversifying assets can reduce reliance on market performance. Planning should focus on cash flow, not just net worth. Consulting with a financial advisor can clarify retirement strategies. Chapters 00:00 Introduction to Retirement Planning Factors 03:08 The Importance of Income Streams in Retirement 06:04 Understanding Asset Location and Liquidity 09:03 Evaluating Tax Distribution Status 11:52 The Role of Tax Strategy in Retirement 25:02 Creating Cash Flow in Retirement
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