October 2024

Podcast

Ep. 55: Trump vs. Harris on Taxes

Full disclosure, many of these proposals will never come to fruition. However, it is election time, so why not have some fun with this?

I spent a lot of time digging into each candidate’s tax proposals, as well as the potential impact to you, PFR Nation.

Let me be clear, this is not an endorsement for either candidate, nor is it a recommendation to make changes based on these hypothetical proposals.

However, tax changes will inevitably impact all of us, so it’s important to understand what each candidate is proposing. Furthermore, I would note that I am not going to vote solely based on tax proposals, but it’s a pretty big deal to me personally and professionally.

The topics I’ll hit on are in regards to:

Business Taxes/Corporate Taxes
Capital Gains and Dividends
Credits, Deductions, Exemptions
Estate and Wealth Taxes
Excise Taxes
Individual Income taxes
Social Security and Medicare
Tariffs and Trade

I recognize there are MANY more tax proposals in the mix, but I wanted to focus on the ones that will impact PFR Nation the most.

So, without further ado, I hope you enjoy this episode.

Kevin

Resources Mentioned:

Tracking 2024 Presidential Tax Plans
Tariff Tracker: Tracking the Economic Impact of the Trump-Biden Tariffs
Why the Economic Effects of Taxes (Including Tariffs) Matter
The Unpleasant Arithmetic of Kamala Harris’s Housing Plan
Congressional Budget Office Shows 2017 Tax Law Reduced Tax Rates Across the Board in 2018
Who Bears the Burden of the Corporate Income Tax?
No Tax on Tips: An Answer in Search of a Question
Neighbor to Neighbor Disaster Relief Fund

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Kevin Lao

October 31, 2024

Podcast

Ep. 54: Behavioral Biases Against Annuities and How They Harm Everyday Retirees (w/ Sheryl Moore and Tracy Lownsberry)

Annuities have become the four-letter word of retirement planning products. However, is this warranted? When should annuities be positioned in a well-diversified retirement income plan? How do you ensure you aren’t being taken advantage of by an agent who doesn’t have your best interests?

In this next edition of The PFR Podcast, I host annuity experts Sheryl Moore and Tacy Lownesberry to discuss this notorious retirement product and attempt to reduce the stigma associated with annuities.

Why do this?

Well, I personally do not sell annuities…nor do I receive any compensation from annuity agents or their providers. However, I see the value when they are in fact a good fit, but oftentimes preconceived biases against the product prevent right-fit clients from purchasing them.

I hope you all enjoy this episode. And thank you Sheryl and Tracy for joining to share your insights.

-Kevin

Resources Mentioned:

Life and Annuity Illustrations Confuse Clients, Advisor Tells Regulators
Annuities are key to retirement. So why are so few of us buying them?
Sheryl on LinkedIn
Tracy on LinkedIn

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Or, ⁠⁠⁠⁠visit my website

Kevin Lao

October 17, 2024

Podcast

Ep. 53: Ages 58/54, COAST to retirement with $5.5mm and make a multi generational impact (‘Vol 2 Whiteboard Retirement Plan’)

Thanks so much to our recent listener who submitted their financial info for this next edition of the ‘Whiteboard Retirement Plan.’

This was a fun case to break down.

“Travis” is 58, “Taylor” is 54, and they are currently putting 3 children through college. They’ve managed to save a nice nest egg of approximately $5.5mm and it’s tax diversified quite nicely.

In this episode, I’ll break down my thoughts on:

College planning and 529s
Bridge to Social Security
‘COASTing’ to retirement
Order of withdrawal
Roth conversions and the RMD Tax Trap
Spending/withdrawal rates
Risk tolerance vs Risk Capacity
Long-term Care Planning
Financial Legacy
And more!

Remember, we are just having fun with this! This is not advice, nor a solicitation for any specific action. I’ve never met with this couple, nor do I have the full details of their financial picture. However, I hope you all can take 1-2 things and learn something related to your OWN journey as you plan for retirement.

‘Travis and Taylor’ – thank you for participating and I hope that you find this video especially useful!

If you are interested in participating in a future edition of the “Whiteboard Retirement Plan,” make sure to submit your “Retirement Readiness Survey” in the links below. Please make sure to indicate somewhere in the survey that it’s for a Whiteboard Retirement Plan episode, as that’s the same link new clients fill out when they apply to work with us.

Also, make sure to follow the podcast on YouTube so you don’t miss out on my weekly “Whiteboard Fireside Chats” where I do a mini deep dive into a specific topic. There is a playlist in the channel that you can check out.

I hope you all enjoy it! And make sure to share my show with a friend or family member who is in the 50-60+ range and preparing for retirement.

Thanks for tuning in!

-Kevin

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