In this 88th episode of the Planning for Retirement podcast, I’ll touch on the importance of finding true fulfillment beyond financial success and that chasing a retirement goal is merely a tool for freedom. Freedom to pursue what YOU are built to pursue on this earth. First, I’ll start off by sharing some insights on tax planning following the One Big Beautiful Bill Act (OBBBA), including changes to tax brackets, the senior deduction, and the SALT deduction. I will then highlight a key market trend for 2025 while also stressing the importance of not chasing the next hot thing. And finally, I will highlight various side hustles and activities that retirees engage in to stay active, fulfilled, and connected to their communities (compliments of a Reddit thread I stumbled upon). I hope you all enjoy thisepisode!
-Kevin
Takeaways:
• Money is a tool, not the goal.
• Financial independence should lead to a meaningful life.
• Tax benefits from OBBBA are significant for retirees.
• The SALT deduction cap has increased the likelihood of itemizing deductions.
• International stocks are outperforming US stocks in 2025, by a lot!
• Diversification is crucial in investment strategies, but don’t chase returns.
• Timing the market can lead to significant financial mistakes.
• Retirement should focus on finding purpose, not just financial stability.
• Many retirees engage in side hustles for fulfillment and extra income.
• Boredom can lead retirees to seek part-time work or hobbies.
• Staying active is crucial for mental and physical health in retirement.
• Pursuing passions can lead to new business opportunities in retirement.
• Volunteering and helping family can provide a sense of purpose.
• It’s important to plan for both financial and personal fulfillment in retirement.
• Retirement can be a time to explore new interests and hobbies.
• Community engagement can enhance the retirement experience.
Resources Mentioned:
• Ep 61 – Benefits of Working in Retirement (w/ Roberto Fortuna)
• What is Your Side Hustle In Retirement? (Reddit thread)
• Tax Trap of 401ks
• Death tax trap of 401ks
• Here is the investment return performance I was referencing in the podcast from BlackRock through May 30th 2025
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This is for general education purposes only and should not be considered as tax, legal or investment advice.
