Certified Financial Planner Hans Scheil discusses the importance of planning for taxes in retirement, including Roth conversions and Medicare tax implications, to minimize tax liabilities and maximize wealth transfer to heirs. [... more]

Your IRA can be considered an IOU to the IRS, and understanding the top IRA rulings of 2024 is crucial for beneficiaries. The SECURE Act and RMD rules can impact tax obligations, and an annuity can provide a solution to spread out distributions over 10 years. Eligible designated beneficiaries, including minors, disabled individuals, and chronically ill individuals, may be able to stretch out distributions over their lifetime. [... more]

Estate planning at 65 using life insurance can provide tax-free death benefits, long-term care insurance, and a bank of money with liquidity that can be borrowed at 0% interest. This strategy can also provide a tax-free income through loans and serve as a secret way to leave money to beneficiaries without involving other estates. [... more]

FaithFi equips Christians to integrate faith and financial decisions for the glory of God, helping them see God as their ultimate treasure and money a tool to accomplish His purposes. [... more]

Navigating Social Security benefits and taxation can be complex, especially when considering retirement and financial planning. Understanding the rules and implications of spousal and survivor benefits, as well as Roth conversions, is crucial for making informed financial decisions. Biblical finance principles can also guide these choices, emphasizing the importance of wise stewardship and responsible decision-making. [... more]

A certified financial planner explains how the 2025 tax brackets and rates work, and how they can affect retirement planning and tax planning. He discusses how to calculate effective tax rates and how to use Roth conversions to turn taxable money into tax-free money. He also touches on capital gains taxes and how they can be affected by tax rate changes. [... more]

Delaying Social Security to 70 can significantly increase monthly benefits, providing a substantial increase in income for retirement. By using annuities and Roth conversions, individuals can create a customized plan to meet their financial goals and enjoy their retirement. This approach can also help minimize taxes and ensure a secure financial future. [... more]

Taxes are on sale for the next two years, and it's essential to take advantage of low tax rates by doing Roth conversions, managing Social Security, and planning for retirement. Understanding tax brackets and minimum distributions can help individuals make informed decisions about their finances and secure a tax-free future for their heirs. [... more]

Understanding tax brackets and planning strategies can help individuals keep more of their money. Certified financial planners Hans Scheil and Tom discuss the importance of tax planning, including capital gains tax, qualified dividends, and Roth conversions, as well as special needs trusts and trust tax rates. They also explain the standard deduction and its impact on charitable giving. [... more]

Financial planners discuss the implications of the Medicare tax, known as ERMA, and how it can be appealed. They also explore the benefits of Roth conversions and the importance of planning for retirement, including managing Required Minimum Distributions. [... more]

Eddie Holland, a senior private wealth advisor, answers frequently asked questions about Social Security benefits, including claiming benefits at 62 and switching to spousal benefits, taxes on Social Security benefits, and changing one's mind about benefits. He also discusses survivor benefits and how they differ from spousal benefits, and provides advice on structuring an LLC and managing debt. [... more]

Christian parents can train their children in financial discipleship by modeling, verbal instruction, and practical opportunities. A biblical worldview is essential for making financial decisions, and understanding Social Security benefits and retirement planning can help individuals make informed choices. [... more]

A certified financial planner discusses the upcoming 2026 tax increase and how it can impact retirement savings. He explains the benefits of Roth conversions and how they can help individuals take advantage of lower tax rates before the tax increase takes effect. [... more]

Understanding tax brackets and exemptions can help individuals plan for retirement and minimize their tax liability. Certified financial planner Hans Scheil explains how to take advantage of lower tax rates in 2024, including the use of Roth conversions and Qualified Charitable Distributions, to create a more tax-efficient retirement plan. [... more]

Certified financial planners Hans Scheil and Tom Griffith discuss the 2024 Medicare tax IRMA rates, explaining how they affect individuals and couples, and providing guidance on how to appeal the extra costs. They also discuss the importance of financial planning, including Roth conversions, to avoid future tax liabilities. [... more]

The hosts discuss the growing national debt and its impact on taxes, explaining how the IRS has a lien on retirement accounts and how to plan for efficient tax payments. They recommend strategies for taking advantage of lower tax rates, including distributing IRA or 401k funds, converting to Roth accounts, and using cash value life insurance. [... more]

When the first spouse passes away, the surviving spouse faces a significant reduction in income, including Social Security checks, and an increase in taxes, which can be devastating. Certified financial planners, Hans Scheil and Tom Griffith, discuss the importance of estate planning to prepare for this scenario and provide tools such as life insurance, lifetime annuities, and Roth conversions to help the surviving spouse maintain a comfortable lifestyle. [... more]

Certified financial planner Hans Scheil discusses the importance of taking Social Security early, especially when it comes to balancing income needs and tax implications. He presents two case studies, Harry and Liz, and Andy and Ruth, where he recommends taking Social Security early to ensure a steady income stream and minimize tax liabilities. Hans also explains the benefits of annuities and Roth conversions in creating a tax-free existence in retirement. [... more]

Many people use their IRAs and 401ks as an estate planning strategy, but this approach can be flawed due to taxes and other factors. A certified financial planner discusses alternative strategies, including Roth conversions, life insurance, and qualified charitable distributions, to minimize taxes and create a more effective estate plan. [... more]

A couple in their 60s is facing uncertainty in their retirement, with a significant loss in their 401k and concerns about managing their social security benefits. Certified financial planner Hans Scheil helps them create a plan to delay social security, invest in annuities, and implement Roth conversions to achieve tax-free income for life. [... more]

Tax rates are historically low, and with the Tax Cuts and Jobs Act set to expire in 2026, individuals may want to consider taking advantage of low tax rates by converting pre-tax IRA or 401k funds to Roth accounts, which can provide tax-free income in retirement. [... more]

Understanding the difference between IRA contributions and Roth conversions can help individuals optimize their retirement savings and minimize taxes. Contributions involve putting pre-tax money into an IRA or 401k, while conversions involve turning pre-tax money into tax-free money. By exploring options such as Roth IRAs and 401k plans, individuals can create a tax-free income stream in retirement and avoid the burden of taxes on withdrawals. [... more]

Becoming familiar with tax brackets is crucial for retirees to minimize taxes and maximize their wealth. Certified financial planner Hans Scheil explains how to plan distributions from qualified money according to how much tax you can stand, and how to take advantage of lower tax rates before they close. [... more]

Planning for retiree tax brackets involves considering a multi-year Roth conversion strategy to minimize taxes and maximize savings. Certified financial planner Hans Scheil explains how to apply hearts to wisdom by making informed decisions about IRA and 401k money, and how to use Roth conversions to pay taxes now and enjoy tax-free growth in the future. [... more]

Inheriting an IRA can be a complex process, with new tax laws and regulations affecting most people before they pass away. Certified financial planner Hans Scheil explains how to navigate the SECURE Act and make informed decisions about IRA inheritances, including the importance of planning and tax-free savings through Roth conversions and life insurance policies. [... more]

Retirees can benefit from understanding how federal and state income taxes apply to their social security checks, and how to minimize their tax burden through strategies like Roth conversions and tax-free income. Certified financial planner Hans Shiel explains how to navigate the complex tax system and make informed decisions about retirement planning and financial planning. [... more]

In this episode of Finishing Well, certified financial planner Hans Shile discusses 2022 tax rates for retirees and how they can plan their finances to minimize taxes and maximize their after-tax income. He explains the concept of Roth conversions and how it can help individuals pay taxes now or later, and also discusses the importance of understanding the standard deduction and how it can affect tax brackets. [... more]