The Chris Berry Show
Christopher Berry discusses the best Legal, Financial and Tax Planning advice for the second half of life. Join Christopher for new episodes every week.
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078 Retirement Income Planning Using the "Bucket Plan" Concept
04/27/2021
078 Retirement Income Planning Using the "Bucket Plan" Concept
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 building that retirement and legacy plan - Creating a clear retirement legacy blueprint - Income planning as a foundation - Accumulating money and saving to retirement - The Bucket Plan - Sequence of return and risk - Structuring the income plan - Distribution and preservation phase - Organizing your assets - Widow's Penalty - Structuring retirement in terms of time horizon - Money over the next 10 years - Interest Rate Risk - 60/40 Investment Links and Resources: - - - - - - Follow us on Social Media: - - - -
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077 The Elder Care Journey and a Free Book Offer
03/30/2021
077 The Elder Care Journey and a Free Book Offer
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 term care and many more! In this episode, you'll learn... - Chris’ positive focus for the week - Book: The Caregiver's Legal Guide Planning for a Loved One With Chronic Illness - Preview of my second book - How we can help to protect your assets - Insider's guide on how to plan for long-term care0 - Gift taxes and income tax - Long Term Care - A Case Study - Financial Power of Attorney - Key Legal Documents - Estate Planning - Long Term Care Insurance - Medicaid - Planning Strategy Links and Resources: - - - - - - Follow us on Social Media: - - - 0 -
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076 Mitigating Retirement Risks
03/11/2021
076 Mitigating Retirement Risks
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 retirement is evolving - We can help you establish Confidence, Clarity, and Comfort in your retirement - Tax Planning strategies - Roth IRAs - Income planning and investment advice - Protection for your investments - Low interest Rates - Potential Tax Liabilities Links and Resources: - - - - - - Follow us on Social Media: - - - -
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075 Stress Testing Your Estate Plan
02/17/2021
075 Stress Testing Your Estate Plan
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 plan and many more! Our focus is always to figure out what your goals are, figure out the best strategies to help you achieve those goals, and then pick the right tools. In this episode, you'll learn... - Chris’ positive focus for the week - Estate Planning - Having an income plan for retirement - Creating a retirement and legacy blueprint - Different legacy blueprint focus - The three big risks as it relates to retirement and legacy planning - What important steps your family needs to take when something happens to you - Why it is important to ensure access to your estate planning documents - Do you have standing instructions or provisions for medical tests to determine your level of capacity so that someone could handle your immediate affairs? - Basic guardianship documents - Do you confidently know if your assets are subject to government seizure to pay for your long-term care? - Personal care plan - Advantage of a family meeting where all of the persons involved in your estate understand what needs to happen. - Are you 100% confident that your executors or beneficiaries will not subject your estate to probate court to decide who gets your assets? - The benefits of getting your assets are properly titled - Our 10 point estate planning audit checklist - Possible disputes over hard to divide assets. - Why not having a proper beneficiary designation is the worst mistake a family can make - How to address potential outside influences and challenges the transfer of an estate or lay claim to funds - Have you set up controls for distributions for your funds? - Making sure there is continuity in taking care of your parents when something happens to you. - Have you established a well-documented succession plan so your families - Legacy locker where we can store all digital media Links and Resources: - - - - - Follow us on Social Media: - - - -
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074 Why 2021 Offers A Window Of Opportunity For Us
01/04/2021
074 Why 2021 Offers A Window Of Opportunity For Us
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 the IRAs and 401ks - Insights from the book biography on John D. Rockefeller - Market volatility - New presidential leadership and it’s possible effect on taxes - How the financial crisis can stay for long-term - How to adjust the risk by reviewing your portfolio - Prioritizing Estate Planning this year - Different tools to get your estate plan done - Elder law attorney versus just an estate planning attorney - Estate Plan as a rule book - What is Guardianship - The importance of medical and financial power of attorney - Revocable trusts that avoid probate and control the distribution upon death - Avoiding probate - Beneficiary designations - Estate planning and audit - Utilize trusts to protect against estate taxes - Medicare really only pays short-term rehab VA benefits and then Medicaid - Long term care - Castle Trust as a strategy or potential tool where we move assets into the Castle Trust - Asset protection for beneficiaries Links and Resources: - - - - - - - - Follow us on Social Media: - - - -
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073 Protecting Yourself from the Three Big Risks In Retirement
12/20/2020
073 Protecting Yourself from the Three Big Risks In Retirement
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 - Stretching IRA tax through the SECURE Act - How to minimize taxes for your retirement - Dealing with Market Risk - Diversification of investments - How to measure for risk/volatility - Building a strategy for a soon bucket and later bucket of money - Long-term care risk - What is Private duty home care? - The difference between independent living and assisted living - Long-term care insurance - How does the Medicaid crisis planning strategy work? - Income planning as the foundation in retirement Links and Resources: - - - - - - - - Follow us on Social Media: - - -
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072 Year-End Review and Risk Planning
12/07/2020
072 Year-End Review and Risk Planning
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 about the tax-deferred account - Three Big Risks of pre-retirement - Required minimum distributions from your pre-tax accounts - The real reason why they pass the SECURE Act - Why the gov't wants you to defer your tax - How tax can be the biggest risk - The window of opportunity for tax management - Importance of Qualified tax Analysis - How $22 Trillion debt affects the tax status in the future - Mitigation of long term care cost - Statistics of nursing home care - Market volatility as risk and pre-retirement - Investment audit - Waiving Penalty under 60 - Rich Man's Roth - Checking where you fall in terms of the tax bracket - Moving to the tax-free bucket Links and Resources: - - - - - - - - Follow us on Social Media: - - -
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071 The Alphabet Soup Of Medicare
11/30/2020
071 The Alphabet Soup Of Medicare
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 week - How medicare can have an effect in your retirement? - Where does Medicare fit in the overall retirement plan - Income tax planning - How to structure income and retirement? - Investment planning that you are comfortable with - Death of the 60/40 portfolio idea - Risks to take into account in tax planning - How to manage taxes this year and on your retirement? - Castle Trust that builds your protection - Filling the gaps that Medicare part A and B cover - What is the Medicare advantage route? - Social Security as a source of income - Medicare supplement that can close the gap - 5 Key Areas that make up the retirement and legacy blueprint Links and Resources: - - - - - - - - Follow us on Social Media: - - -
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070 The New Paradigm of Retirement
09/21/2020
070 The New Paradigm of Retirement
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 taxes, what tools you can use and how to plan your asset distribution appropriately towards your retirement. In this episode, you'll learn... - Chris’ positive focus for the week - Difference between old paradigm and new paradigm in retirement - Tax Risk and how Taxes are going up in the future - Retirement planning - Tax Cut and Jobs Act - Preserving and distributing assets - What is the Sequence of Return Risk - Distribution of accumulated wealth - The basics of income gap - 60/40 portfolio mix may not be the best option now - Tax buckets and which account you can draw as you are moving into retirement - Why you need to compute your Fortified Income Score to close the income gap - Where taxes are going in the future and how you can manage taxes Links and Resources: - - - - - - - Follow us on Social Media: - - -
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069 Asset Protection and Family Law with John Ceci
08/23/2020
069 Asset Protection and Family Law with John Ceci
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 week - Things that you can do proactively with asset protection - Types of Trusts to protect your beneficiaries - How Castle Trust can protect your assets from creditors and the costs of long-term care - Hot assets and real estate and LLC - Divorce statistics - John’s guide to simple divorce - Basic ways to get your divorce completed - Completing a Verified Financial Form to reveal everything - Effects of commingling assets - Protecting inheritances - Beneficiary designations - Keeping the money on the bloodline - Legacy inheritance language Connect with our Guest, Atty. John Ceci: - Links and Resources: - - - - - - Follow us on Social Media: - : - : - : - :
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068 Your Money Your Retirement
07/29/2020
068 Your Money Your Retirement
So you move into retirement and there is little know-how on what you should be doing correctly in terms of planning. The whole process becomes puzzle pieces that can be mismatched easily. We can choose to focus our attention on the things we can control and start from there. The top 3 key areas of focus retirees need assistance with are legal, financial, and tax -- all of these need to work together. Today, I will discuss the correct actions and what you should be doing with your money going into retirement. In this episode, you'll learn... - Chris’ positive focus for the week - What I can share with you in my interview with Gracefully Greying show. - My background before I went into Law and become CELA - Plan for preservation and distribution - Tax analysis where you can actually run numbers - Tax Planning - Asset based long-term care or hybrid policies - The right insurance set up - VA benefit for home care - Five different areas every retiree needs to think about - What you can do to be prepared for change - pandemic, elections, etc. - Rethinking your retirement plan in 2020 - Looking for options to accumulate wealth - Income planning - Protecting your legacy Links and Resources: - - - - - - Follow us on Social Media: - - -
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067 Tax Efficient Retirement Strategies
06/24/2020
067 Tax Efficient Retirement Strategies
If you are getting close to retirement or retired now, what are the moves that you should be doing to ensure that your retirement is as tax efficient as possible? If you think taxes are going up in the near future, you are in a situation where you need to explore a strategy to diffuse the ticking “tax time bomb” that is existing in your retirement accounts. In this episode, I will share with you how you can analyze your tax situation and take advantage of the current window of opportunity and how we can control the tax environment. In this episode, you'll learn... - Chris’ positive focus for the week - Partnering with an Actuary - The order of money conversation - Tax-free accounts - Cash Value Life Insurance - Taxable Money - Tax-Deferred Money - The reason why you cannot rely on pension only - Changes in the Social Security - Penalties on beneficiaries - Roth conversion strategy - Why does a person who is in retirement need insurance? - Death benefit doubles as a long-term care benefit - The Secure act and deferring paying taxes - Why the stimulus package that was just passed by the government can directly affect tax - The need to analyze your tax situation NOW. - This may be the last year to take advantage of the window of opportunity for low marginal tax bracket Books: - No Compromise Retirement Plan - New Rules of Retirement Savings - We can send you a Free Electronic Book copy! Links and Resources: - - - - - Follow us on Social Media: - - -
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066 Smoked Brisket, Estate Planning, and Elder Law
05/19/2020
066 Smoked Brisket, Estate Planning, and Elder Law
Many people believe that having an estate plan simply means drafting a will or a trust. You may ultimately find yourself left with a lot of questions before you even start. Acknowledging that it is high time to get your legal affairs in order and finding the right firm to prepare your documents are the initial actions you need to take. In this episode, I’ll talk about the next steps that can help you cover all contingencies and make sure that your estate plan is complete. In this Episode: - Chris’ positive focus for the week - Following a plan and picking the right tools for state planning - The big dirty secret of estate planning - What is the advantage of Castle Wealth Group from other firms - Four ways assets can be transferred to your name - Certified Elder Law Attorney gold standard in estate planning and elder law - Elder Law for asset protection - Estate planning 10-point checklist - What is Castle Trust? - Estate planning 101 webinars - Funding a trust - Investment and tax planning advice to coordinate your full plan - The macro approach in terms of taxes - Three big law changes as it relates to taxes - The brisket analogy - Viewing an estate plan as a parachute Links and Resources: Follow us on Social Media: Twitter: Facebook: LinkedIn:
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065 Five Ways to Help Your Finances Recover
05/19/2020
065 Five Ways to Help Your Finances Recover
Regardless of what is causing your financial setback, your path to financial recovery will require a set of action steps. You may believe your situation is unique, but many are walking the same path as you. The road to financial recovery reveals the exact actions you need to take to get back on your feet financially. So let's get started with the five ways that will help you recover from any financial downturn or crisis. In this Episode: - Chris’ positive focus for the week - How your initial emotional reaction to the current crisis can play a big role to your decisions - The most important legal documents you need to prepare and update at this point - If you are a medical frontliner, we can offer a free medical power of attorney for you - Virtual process that we have in place to help you plan - How you can fix your legal documents at the comfort of your living room - Tax review and planning - Where to easily access the Secure Act webinars - Fortified income score - How much risk you should be taking into your portfolio Links and Resources: - - - - - - Follow us on Social Media: - Twitter: - Facebook: - LinkedIn:
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064 Legal, Financial and Tax Planning Move in Scary Times
05/04/2020
064 Legal, Financial and Tax Planning Move in Scary Times
What are the things you should be doing to move forward and put ourselves in the best position from a legal, financial, and tax response standpoint during this scary time? We can’t control the things that are happening outside and I chose to focus only on the things which I can control. When you are paralyzed by fear at the time like this, setting the correct mindset and knowing your next move can make a difference! Today, I will discuss the two most important legal documents to have in place right now, the correct financial response, and looking at tax strategy through a macro lens. In this Episode: - Chris’ positive focus for the week - 6 points to change your mindset from Dan Sullivan - Two most important legal documents you need to have in place right now - How to handle your situation with the medical power of attorney through us - Proper structure to pass on and avoid probate upon death - How do assets transfer to someone else’s name based on state administration - 4 ways assets can be transferred upon death - Fortified retirement plan - Offensive and defensive financial structure focus to have - How to increase your income score - Tax planning over your lifetime and your beneficiaries lifetime - Different Tax buckets - Taxable bucket, Tax-deferred buckets, and Tax-free buckets - Tax-efficient retirement Links and Resources: - - - - - - - Follow us on Social Media: - Twitter: - Facebook: - LinkedIn:
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063 10 Things We Can Learn From the “Scary Times” Success Manual
04/29/2020
063 10 Things We Can Learn From the “Scary Times” Success Manual
We can't control the events happening around us but we can definitely control our actions and responses. Because of this, I chose to focus on the upside instead of the downside. The same can be applied towards investment. We can focus on the negative and be paralyzed or look at the positive and take advantage of the opportunity. In this episode, I'll share the ten things we can learn from the “Scary Times” Success Manual of Dan Sullivan. We will talk about the opportunities in the new environment that we're experiencing. We will also look at the things that we should be doing to put ourselves in the best possible position moving forward. In this Episode: - Chris’ positive focus for the week - Ten things you can learn from “Scary Times” Success Manual of Dan Sullivan - Changing your practice to adjust with the trying times - How much risk are you willing to take into your portfolio - Focus on the opportunities in this new environment - Two strategies that helped in the past in terms of structuring a portfolio to manage risk - Four ways we can help in addressing changing market volatility - Six key components to any estate plan - Reanalyze your portfolio by doing a risk exposure review - Two changes in law that opened tax planning with a huge opportunity - Where can you grow your money tax-free as a long term holistic plan Links and Resources: - - - - - - - Follow us on Social Media: - Twitter: - Facebook: - LinkedIn:
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062 What You Need to Know About Medicare for Healthcare Planning for Retirement
03/10/2020
062 What You Need to Know About Medicare for Healthcare Planning for Retirement
How Much Do You Know About Medicare? When planning for retirement, there are five key areas to focus on… income planning, investment planning, tax planning, legacy planning and healthcare planning. For many retirees, Medicare has a huge role in healthcare planning, and Medicare is what we will be talking about on today’s show. In this episode, I’ll talk about the basics of Medicare, as well as supplements and why they’re important. We will also touch on coverage for prescription drugs and some of the important dates with Medicare. In this episode, you’ll learn... Chris’ positive focus for the week. What Medicare parts A, B, C and D are What is typically covered by the different parts of Medicare Examples of what you may expect to pay out of pocket while covered by Medicare About how Supplement plans can be useful The enrollment periods and important dates for Medicare The importance of picking the correct Medicare plans for your situation to minimize the costs How investments and income can affect your Medicare premiums 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 . Here are the questions I covered in this episode: Les asked: “My wife and I had wills prepared by an out of town law firm. Can these be included in a trust create by another law firm?” Cheyenne asked: “I want to disinherit my children on my will, how can I do this?” Links & Resources
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061 The Secure Act and What it Means for Your Retirement Accounts
02/06/2020
061 The Secure Act and What it Means for Your Retirement Accounts
Are You Ready for the SECURE Act? The SECURE Act has changed key elements of retirement and estate planning, turning the whole industry on its head. Today's show focuses on the strategies that can be used in the post SECURE Act world to ensure you have a tax efficient retirement. In this episode of The Chris Berry Show, I’ll talk about some of the biggest changes that are coming with the passing of the SECURE Act, and how we are here to help guide you along the way. In this episode, you’ll learn... Chris’ positive focus for the week. How stretch IRAs are used. What the new SECURE Act means for stretch IRAs. New strategies for leaving retirement accounts to the next generation. The new age for required minimum distributions. The new requirements for paying taxes on inherited IRAs. Why it’s more important now than ever to get an advisor who understands this law. How Trust beneficiaries are affected by the SECURE Act. How to manage Roth conversions under the new SECURE Act. How the charitable strategy can be used under the new law. What the SECURE Act means for life insurance. Links & Resources Follow us on Social Media Twitter: Facebook: LinkedIn:
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060 Alzheimer's Update with Jennifer Howard with The Alzheimer's Association
12/10/2019
060 Alzheimer's Update with Jennifer Howard with The Alzheimer's Association
Did you know there is hope for those with Alzheimer's and dementia? Over the last five years we have had amazing breakthroughs in Alzheimer's research. One example is the breakthroughs that have come just on the neural imaging front: We’ve found that the damage that is done to the brain, as this disease sets in, is pretty tough to reverse. But, if we can get in front of it and slow it, or stop its progression, that's where there is the most hope in the science and research. In this episode of The Chris Berry Show, I’ll talk about the progress we are making in the fight against Alzheimer's and dementia with Jennifer Howard who is the executive director of The Alzheimer's Association. In this episode, you’ll learn... Chris’ positive focus for the week. The difference between Alzheimer's and dementia. Different forms of non-curable dementia that can affect you as you age. Symptoms associated with Alzheimer's and dementia. Signs and symptoms that indicate you should seek a medical diagnosis. Tests that are administered during diagnosis. What genetic tests can and cannot tell you about your risks. Ways you can adapt your lifestyle to reduce your risks of getting Alzheimer's or dementia. Resources and education available to those caring for or living with those with Alzheimer's or dementia. How these diseases progress as we age. Ways research is providing hope for those caring for or living with those with Alzheimer's or dementia. The different ways you can get involved to make a difference. Links & Resources Alzheimer's Association phone number: 800-272-3900 Follow us on Social Media Twitter: Facebook: LinkedIn:
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059 Six Retirement Planning Mistakes
12/02/2019
059 Six Retirement Planning Mistakes
Are you prepared to avoid the most common pitfalls in retirement? When it comes to retirement, there are some common mistakes that we see over and over again. Today we want to address those mistakes, and how to avoid them. From focusing on the wrong things to accepting less than you have to, we will cover how to have the most tax efficient and financially successful retirement possible. In this episode of The Chris Berry Show, I’ll talk about the six most common mistakes that we see people making in retirement. In this episode, you’ll learn... Chris’ positive focus for the week. Six common retirement mistakes. The impact of the recent SECURE ACT that passed the House of Representatives. A situation that is unfolding that could require retirees to pay additional premiums. Why focusing on the wrong thing can upend your retirement. Why sequence of return risk needs to be considered along with rate of return. How truly understanding risk within the context of retirement is key to success. All about the hidden fees that can eat away at your portfolio. How tax diversification planning can save you money and headaches in retirement. Why planning for the loss of a spouse is crucial to not derail your retirement. The reasons tax planning can make or break your retirement. The ramifications of not properly utilizing tax deferred accounts. The ways to evaluate your investment vehicles, and their potential returns. Links & Resources Follow us on Social Media Twitter: Facebook: LinkedIn:
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058 End of Year Tax Planning and Tax Free Income Sources in Retirement
11/24/2019
058 End of Year Tax Planning and Tax Free Income Sources in Retirement
Have you prepared for a tax-free retirement? At the end of the day, there are four ways we can generate tax-free income in retirement. Why is this important? Because no one wants to pay more tax than they need to. Quite often when clients come into my office a majority of their wealth, if not almost all, is in qualified and pre-tax accounts. In this episode of The Chris Berry Show, I’ll talk about how to craft a tax-free retirement, and how to avoid some of the worst scams that can deplete your nest egg. In this episode, you’ll learn... Chris’ positive focus for the week. The ways you can maximize taxes with end of year tax planning. The four sources of tax-free income in retirement. How to use Roths to generate tax-free income. How life insurance can become an asset account. How to utilize a 529 plan to grow money tax free. Why “Buy term and invest the rest” is an oversimplification. Situations where Social Security can be tax-free income. Retirement scams you need to be aware of. How scammers are changing the old IRS scam with mailed letters. How investment scams can devastate your retirement. How trusts can protect you during retirement. Links & Resources Follow us on Social Media Twitter: Facebook: LinkedIn:
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057 Disability Advocacy with Attorney Ashley Jacobson
11/19/2019
057 Disability Advocacy with Attorney Ashley Jacobson
Are you prepared for the possibility of a future that includes developing a disability? In the elderly population between the ages of 65 and 74, approximately 20% of individuals have a disability. When you get to 75+, that more than doubles. By age 75, 49% of people have a disability. There are ways to plan for this, however, and there are people who specialize in helping those who have a disability. In this episode of The Chris Berry Show, I’ll talk about the kind of help you should look for if you have a disability, and attorney Ashley Jacobson will share about how you can plan for a future that may include a disability. In this episode, you’ll learn... Chris’ positive focus for the week. The 5 areas to consider for the second half of life. The impact tax planning now can have later on in the future. What kind of certifications you should look for in a lawyer if you have a disability. Some common disabilities that people deal with as they age. Why it’s so important to plan for long term disabilities. The definition of a disability. What constitutes to a major life function. What disability documents are, and why they are so important. The most important things to remember when speaking with a person with a disability. The hidden struggles of those with invisible disabilities. Some simple, yet creative, ways to accommodate those who have a disability. Links & Resources Follow us on Social Media Twitter: Facebook: LinkedIn:
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056 Utilizing Senior Centers in the Aging Process with Julie Eddings
11/12/2019
056 Utilizing Senior Centers in the Aging Process with Julie Eddings
Do you know all the benefits a senior center can provide? Senior centers, like the one in Hamburg, MI, are the very best thing that we can offer to combat loneliness. There's a lot of talk right now about how loneliness is now public health enemy number one. At senior centers, you can come and meet like-minded people, people who are in the same situations as you are. It gives you something to get you out of the house, and provides a place that's fun and engaging to go. In this episode of The Chris Berry Show, I’ll talk about the amazing benefits of the Senior Center in Hamburg, Michigan with their director Julie Eddings. In this episode, you’ll learn... Chris’ positive focus for the week. The first step to organizing your financial life. What senior centers provide to their members. What kind of activities are held at senior centers. How senior centers benefit the overall community. Why social activities are so important as you age. How municipal transportation can collaborate with the senior center to help seniors. How senior centers can collaborate to provide group outings. Ways to help if you want to get involved. Different educational programs provided by senior centers. 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 . Here are the questions I covered in this episode: "What's the difference between Medicare and Medicaid?" "My mother needs a permanent nursing home. What assets can the nursing home take?" "What is the advantage of a living trust versus a will?" Links & Resources Julie’s phone number: (810) 222-1140 Follow us on Social Media Twitter: Facebook: LinkedIn:
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055 Medicare Insights and Annual Enrollment
11/07/2019
055 Medicare Insights and Annual Enrollment
Do you know how to navigate Medicare Enrollment? Medicare can cause a lot of confusion, and since this is Medicare Annual Enrollment Period, we are focusing on how it fits into people's lives. Medicare is a federal insurance for medical services, divided into parts A and B. Part A covers the hospital services; Part B covers doctors, tests, etc. In this episode of The Chris Berry Show, I’ll talk about the ins and outs of Medicare and Medicare enrollment with Patti Gibbons from Gibbons LLC. In this episode, you’ll learn... Chris’ positive focus for the week. When you qualify for Medicare. The different parts that make up Medicare. What Medicare covers, and what it doesn’t cover. Situations where you don’t need to enroll in Medicare. How to avoid late enrollment penalties. How filing for social security affects Medicare enrollment. Situations where you need to disenroll from Medicare. How to choose what Medicare plan is best for you. When you should consider getting a supplemental plan. Why it’s so important to see a Medicare specialist when choosing your plan. The difference between Open Enrollment Period and Annual Enrollment Period. 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 . Links & Resources Patti's email: [email protected] Follow us on Social Media Twitter: Facebook:
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054 Thinking About Social Security Differently
11/01/2019
054 Thinking About Social Security Differently
Do 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 . 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 Follow us on Social Media Twitter: Facebook: LinkedIn:
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053 Mark Howell with Fund a Life
10/26/2019
053 Mark Howell with Fund a Life
Are you and your family prepared for the worst-case scenario? Mark Howell was diagnosed with stage 4 melanoma and given weeks to live. His insurance coverage would not really cover much outside of their network, so it was very limiting. And, at the time, melanoma had very limiting treatment. Treatment options were very poor, and a 30-year-old male given weeks to live, and then with all the treatment options basically saying, "Hey, you know, best case scenario you might live nine months." In this episode of The Chris Berry Show, I’ll talk with Mark Howell about the amazing things they are doing to help families face the worst case scenario at Fund A Life. In this episode, you’ll learn... Chris’ positive focus for the week. How to best protect your family while planning for your future. Suggested ages for children taking over their trusts. What decisions you need to make on who will be responsible for what after your gone. How to use tax-free growth financial assets to pay for your child’s education. Insurance strategies to protect your family. The ways communities are coming together to help those in need. How to get involved with Fund A Life. Creative ways to fundraise and give back to your community. How a grassroots movement helped families in their most dire time of need. Links & Resources Follow us on Social Media Twitter: Facebook: LinkedIn:
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049 Protect Your Loved Ones from Nursing Home and Elder Abuse with Donna McKenzie
10/21/2019
049 Protect Your Loved Ones from Nursing Home and Elder Abuse with Donna McKenzie
Do you know what to look for in a nursing home? But a lot of people will ask, "How do I choose a nursing home and things like that?" We always say, "Choose one that is close to home, close to family, that as many people can visit as possible." After doing those things, if you're not getting answers from the nursing home about what's going on, and you're not satisfied, and you still have concerns, that's when you want to take additional steps like contacting an ombudsman or contacting the state of Michigan or even contacting a lawyer... In this episode of The Chris Berry Show, we’ll talk about how to find the best long-term care facility for your loved ones with Donna McKenzie from Nursing Home Lawyers. In this episode, you’ll learn... Chris’ positive focus for the week. How a long-term ombudsman can help with long term care. When it’s time to reach out to an attorney about your loved ones in long term care. How to reach the state if you are in need of assistance. How to go about getting answers from long term care facilities. The most common injuries that occur at nursing homes. When to pursue a lawsuit against a nursing home. How negligence can lead to increased morbidity. The different types of nursing home facilities to choose from. About the nursing home rating system used to gauge different facilities. Links & Resources Donna’s phone number: (248) 591-2300 Follow us on Social Media Twitter: Facebook: LinkedIn:
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052 Health & Fitness in the Second-Half of Life with Cody Tustin of Unorthodox Fitness
10/11/2019
052 Health & Fitness in the Second-Half of Life with Cody Tustin of Unorthodox Fitness
Are you exercising the right way as you age? You may work out or go to the gym, but are you exercising in a way that will benefit you as you age? There are unorthodox ways of staying active, that can help you do the little things later in life that make a big difference in your quality of life. In this episode of The Chris Berry Show, I’ll talk about some of these functional exercises with Cody Tustin from Unorthodox Fitness. In this episode, you’ll learn... Chris’ positive focus for the week. What upper crossed syndrome is, and what exercises can help counteract it. Why strength training becomes more important as you age. Ways to protect yourself from throwing your back out. The benefits of using a battle rope. How to get off the couch and get started with unorthodox exercises. Examples of how the squat is one of the most functional exercises to practice. How to incorporate endurance and flexibility training with strength training. The ways strength training can prevent balance issues later in life. How to do a proper squat. Examples of ankle mobility and strength training. Common activities that strength training will help you do as you age. How diet needs to be customized for each individual and their goals. 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 . Here are the questions I covered in this episode: Jake asked: "Should I build an emergency fund, or pay off my debt?" Colleen asked: "My husband passed away before his mother, he was named in the will. Will my children be able to claim his share, because mom is now passing away? And he is dead, will my sons receive his shares as legal sons?" Bob asked: "In three years, my wife and I will be 66 and entitled to claim social security. We have IRAs valued at 1 million. How can we reduce income tax on our IRAs during retirement?" Howard asked: "How can my friend transfer his house to his daughter, before he has to go into a nursing home? And will Medicaid get it?" Links & Resources Follow us on Social Media Twitter: Facebook: LinkedIn:
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Latest in Alzheimer's Research with Dr. Bruno from The U of M Alzheimer's Center
10/04/2019
Latest in Alzheimer's Research with Dr. Bruno from The U of M Alzheimer's Center
Are you prepared for long-term care of a loved one who has been diagnosed with Alzheimer's? The most important thing for dealing with an Alzheimer's diagnosis in either you or a loved one is having a well drafted power of attorney to cover financial decisions. Make sure it includes expanded powers instead of just having a vague power of attorney. The second most important document is a medical power of attorney with end of life plans. The final is a personal care plan to describe long term care. In this episode of The Chris Berry Show, I’ll talk about the latest in Alzheimer's research with Dr. Bruno, from the Alzheimer's Center at U of M. In this episode, you’ll learn... Chris’ positive focus for the week. Legal strategies if you or a loved one have been diagnosed with Alzheimer's. Steps you should consider, and what you should look at doing. What is going on in the world of Alzheimer's research, supports, and treatment. How you can get involved with raising awareness for Alzheimer's with The Walk To End Alzheimer's. The three key disability documents. Why expanded powers are so important in the drafting of a Power of Attorney. How personal care plans enhance your medical and financial Power of Attorney documents. How a castle trust can help prepare you to legally protect yourself during long term care. What kind of financial tools you can use to provide income for the rest of your life. What the difference is between Alzheimer's and Dementia. Where the name Alzheimer's comes from. What the characteristic signs are in the brain of Alzheimer's. How new imaging technologies have revolutionized how scientists are studying Alzheimer's. The future of blood-based biomarkers and early diagnosis. The ways to reduce your risk for Alzheimer's. How the microbiome in your gut can influence your brain. Links & Resources Follow us on Social Media Twitter: Facebook: LinkedIn:
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048 Marti Coplai From Angela Hospice
08/24/2019
048 Marti Coplai From Angela Hospice
Do you know what makes up a sound investment plan? There are five pieces to any sound retirement plan – one of which I’ll dive into today. A retirement plan must consist of an investment strategy that takes your risk tolerance and risk capacity into consideration. With this risk score, a true fiduciary will create a custom investment plans that suits your needs and goals. In this episode of The Chris Berry Show, I’ll share the components of the “Risk Pyramid” and the two styles of managing assets and investments. Marti Coplai from Angela Hospice will also be on the show to teach us about what they offer and who may be a good fit. In this episode, you’ll learn... Chris’ positive focus for the week. The 5 pieces to any sound retirement plan. The first piece: An income plan to preserve and distribute your money. The second piece: A sound investment plan. The final pieces: Having a tax, healthcare, and legacy plan. About the “Risk Pyramid” and its different parts. How we calculate risk tolerance and risk capacity with a risk score. Why it’s important to understand fees and expense ratios. About long-term capital gains. The two styles of managing assets and investments – and the pros and cons of each. About suitability versus a true fiduciary. How to start building your retirement plan. About our upcoming workshops. 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 . Here are the questions I covered in this episode: Betty asked: “Will my family have to pay my estates taxes when I die?” Ben asked: “Is an annuity appropriate for me? I have no pension otherwise.” William asked: “What are some good and safe options to place investment funds if I want to make more than the bank interest rates while I’m holding the funds in cash?” Richard asked: “Can I sell all the holding in my IRA and keep all the cash in my IRA account without tax consequences?” Mike asked: “Can I hold individual stocks in my living trust? If so, how do I retitle ownership of a currently owned stock into my trust without triggering any taxable event?” Links & Resources Follow us on Social Media Twitter: Facebook: LinkedIn:
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