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Category: Podcast

91: What Can We Learn From Gene Hackman’s Estate Planning Nightmare?

PFR Nation,

Legendary actor Gene Hackman passed away earlier this year. Some of the details about his estate plan have been made public due to the probate process. While I don’t believe any of us have an $80 million estate, there are some important lessons we can all take away from this estate planning nightmare. Especially if you are part of a blended family (children from a previous relationship or marriage). I hope you all find this useful.

Make sure to check out the links below for some of the blended family content I’ve created in the past from the podcast and company blog.

And finally, make sure to email me at kevin@imaginefinancialsecurity.com if you would like a copy of the e-book I am finishing up, “Planning For Retirement With A Blended Family.”

Thanks for tuning in to the show and making sure to follow the podcast and subscribe to our YouTube channel for weekly retirement-related content for PFR Nation!

-Kevin

Resources Mentioned:

  • Blended Families – You Need a Long-term Care Plan! (blog post)
  • How to divide assets in a blended family (blog post)
  • 4 Retirement and Estate Planning Strategies for Blended Families in Florida (blog post)
  • Blending and Building Wealth in a Blended Family (w/ Tim and Alexis Woodward @ Blend Wealth) (podcast episode)
  • Wealth Protection And Transfer in a Blended Family (w/ Tim and Alexis Woodward @ Blend Wealth) (podcast episode)

– Kevin

Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠ 

⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire

Connect with me here:

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This is for general education purposes only and should not be considered as tax, legal or investment advice.

Ep. 90: Marilyn Was Forced To Retire @ 60 w/ $1.95million Saved. Can She Do It?

PFR Nation,

I hope everyone has had a great summer! It’s been action-packed for us, especially coming off the heels of family visiting the last 8 days. Thus, thanks for your patience with this week’s episode!

This is a good one! Many folks retire earlier than they had anticipated. In this case, Marilyn was forced to retire 5 years earlier than she had planned! She’s done well saving and investing, and has accumulated $1.95million between taxable, tax-deferred and tax-free accounts. However, she has some ambitious goals for travel and freeing up her time!

Let’s see how her plan looks. And let’s see what levers she can pull in order to improve her retirement outcome. I hope you all find this useful!

-Kevin

Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠ 

⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire

Connect with me here:

Or, ⁠⁠⁠⁠⁠⁠⁠⁠visit my website

This is for general education purposes only and should not be considered as tax, legal or investment advice.

Ep. 89: Retirement Related Q&A w/ A CFP (Inherited Roth IRAs, IRA to HSA Rollover, Stock Allocations for Retirees, and more!)

Welcome to all the newbies here! If you are new, you might want to hit that “Follow” button if you are over 50 and have saved a minimum of 7 figures for retirement. You’re approaching the phase of life where you want to be able to fire your boss at any time, maximize your retirement impact, minimize your lifetime tax bill, and worry less about money! This is your podcast!

And don’t forget to “Subscribe” to our YouTube Channel, where we put out weekly retirement-related content designed for YOU (PFR Nation).

Today, we’ll revisit another Q&A session with some GREAT questions we’ve curated over the last few months. Reminder, if you have a question for a future Q&A episode, or simply want to send me an email, you can at: kevin@imaginefinancialsecurity.com

We have questions related to Roth IRAs, Inherited Roth IRAs, stock allocations for retirees, IRA to Health Savings Account rollover, and more!

I hope you enjoy this one!

Kevin

Resources Mentioned:

  • Don’t miss your Roth Conversion Window (video)

⁠⁠⁠Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠ 

⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire

Connect with me here:

Or, ⁠⁠⁠⁠⁠⁠⁠⁠visit my website

This is for general education purposes only and should not be considered as tax, legal or investment advice.

Ep. 88: Work Optional Side Hustles in Retirement

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

Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠ 

⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire

Connect with me here:

Or, ⁠⁠⁠⁠⁠⁠⁠⁠visit my website

This is for general education purposes only and should not be considered as tax, legal or investment advice.

Ep. 87: 9 Bad Pieces of Financial Advice for Retirees To Avoid

The internet is full of financial advice.  Some is good, some is great, and some downright dangerous.  After nearly 17 years as a financial advisor, I’ve heard it all. In this episode, I’m calling out the bad advice for retirees and pre-retirees that still gets passed around today in hopes that you will plan better for retirement!

I hope you enjoy it.

-Kevin

Takeaways:

  • The internet is full of financial advice, but not all is good.
  • Many retirees struggle with the concept of productivity in retirement.
  • Not all financial advice is created equal; some is driven by agendas.
  • Paying off a mortgage can provide peace of mind, even if it seems financially disadvantageous.
  • Social security strategies should be flexible and personalized.
  • Roth accounts can be beneficial, especially during the Roth Conversion Window.
  • Financial planning should consider both quantitative and qualitative factors.

Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠ 

⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire

Connect with me here:

Or, ⁠⁠⁠⁠⁠⁠⁠⁠visit my website

This is for general education purposes only and should not be considered as tax, legal or investment advice.

Ep. 86: Trump’s Tax Bill and How It Impacts PFR Nation

It’s official, the One Big Beautiful Bill Act (OBBBA) was signed into law on July 4th, 2025, making significant impacts on tax rates, deductions, and various credits. 

This by no means is a summary of ALL the changes from OBBBA, but I attempted to summarize what I believed was most relevant to our listeners and clients (folks nearing or in retirement, saved over $1million, excluding primary residence, mostly in tax-deferred vehicles).  

In addition to the key tax changes, I’ll also break down 3 client examples and how OBBBA impacted their taxes in 2025.  Finally, I will discuss 7 planning opportunities to consider.  

I hope you find it helpful.

If you are interested in learning more about working with our firm, you can visit our website or fill out the Retirement Readiness Questionnaire below.  

-Kevin 

Takeaways:

  • The OBBBA has made current tax rates permanent, preventing increases in 2026.
  • Standard deductions have been slightly increased and made permanent.
  • Bonus deductions for taxpayers over 65.
  • Social security income remains taxable, despite misconceptions about tax-free status.
  • Child tax credits have been permanently increased to $2,200 per child.
  • Business owners benefited with QBI deduction and 100% bonus depreciation.
  • The SALT deduction cap has been raised to $40,000, benefiting high-tax state residents.
  • Service workers can now deduct tips up to $25,000, making their income more tax-efficient.
  • The estate and gift tax exemptions have been permanently increased to $15 million for individuals and $30 million for couples.
  • The AMT exemption has been extended, but phase-out rules have reverted to previous levels.
  • Planning opportunities exist for those over 65 to maximize deductions and manage tax liabilities.

Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠ 

⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire

Connect with me here:

Or, ⁠⁠⁠⁠⁠⁠⁠⁠visit my website

This is for general education purposes only and should not be considered as tax, legal or investment advice.

Ep. 85: How And What Am I Paying My Financial Advisor?

Fees are a big topic of conversation amongst financial advisors, but also from consumers.  It can be a spicy topic with lots of complexities, but I’ll try to simplify HOW and WHAT you are paying your financial advisor.

I’ll be the first to admit, I am extremely biased being a fee-only financial advisor, which I’ll admit throughout the show.  I will say that there is no right or wrong fee model!  However, I do believe there is a right fee model based on the client’s circumstances.  This is why we designed our fee structure the way we do, because we serve retirees with $1mm – $5mm of investible assets.  

In this episode, I’ll talk about “free financial planning,” the different fee models, what those fees are from a $ perspective, and 5 recommendations if you are considering hiring a financial advisor.  

~ Kevin

Takeaways:

⁠⁠⁠Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠ 

⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire

Connect with me here:

Or, ⁠⁠⁠⁠⁠⁠⁠⁠visit my website

This is for general education purposes only and should not be considered as tax, legal or investment advice.

84: Retire @ 58 w/ $3million. Prioritize ACA Premium Tax Credits or Roth Conversions?

Hello, PFR Nation and Happy 4th of July, and Happy Birthday, America!  What a great country we live in, I’m so proud to be an American.  My Dad being a (legal) immigrant has given me great appreciation for the opportunities we have relative to the rest of the world.  

I’m feeling extremely blessed for the clients we are serving in our financial planning firm, and I’m so grateful to serve all of you with this podcast.  I hope you continue to find value.  

We have a fair amount of new listeners, plus the legacy listeners, and I just want to say how excited I am to deliver this weekly content to all of you.  Thank you for the support, and welcome to the 84th episode of the PFR Podcast and 7th edition of the ‘Whiteboard Retirement Plan.’  

Leo and Lisa are looking to retire in 2 years, at 61 and 58 respectively.  They have done quite well accumulating approximately $3 million for retirement with the majority being inside of traditional tax deferred IRA’s and a 401k.  

 Leo is on Long Term Disability and was forced to ‘retire earlier’ than planned, and is receiving tax free income until 65.  Lisa plans to fully retire at 58.  However, this will result in losing employer-sponsored healthcare and ultimately needing to shop around in the open market.  One option will be to consider the Affordable Care Act policies on Healthcare.gov.  Furthermore, Roth Conversions are of interest during their “Roth Conversion Window” from Lisa’s age 58 until she turns 75.  In this episode, we will help them decide whether or not to aggressively pursue a ‘low income’ to reduce healthcare costs in early retirement…or, to begin converting some of the tax-deferred accounts right away to reduce the ‘Tax Trap of 401ks.’  

Drop a comment and let me know what you plan to do if you retire before 65!  Will you aggressively pursue ACA Premium Tax Credits?  Aggressively convert to Roth?  Or potentially a hybrid between the two?  

I hope you enjoy the 7th edition of the “Whiteboard Retirement Plan.”

ACA Premium Tax Credits Video

***Additional Disclaimer***  So much about these rules are up in the air.  From 2021-2025, there has been a “gradual slope” downwards of ACA premium tax credits even AFTER you exceed 400% of the Federal Poverty Level.  However, that is set to revert back to the “Cliff” at 400% after 2025.  With that said, there is a LOT on the table with the “One Big Beautiful Bill” which will likely include further changes to these rules.  I guess what I’m saying is…continue to follow the “OBBB” and of course follow the PFR Pod!

-Kevin

Takeaways:

  • Many of the families we serve are overachievers looking to retire early.
  • Healthcare costs are a significant concern for early retirees prior to reaching Medicare eligibility.
  • Budgeting for lifestyle and healthcare is crucial in retirement planning.
  • Roth conversions can optimize tax liabilities over time.
  • Monte Carlo simulations can help stress test the plan, but is by no means the be all end all retirement metric.
  • Understanding the Affordable Care Act and their premium tax credits are important, but should NOT be the sole basis for tax planning opportunities.  
  • Tax traps in traditional retirement accounts can impact long-term wealth during a retiree’s lifetime, and for the next generation.  
  • Income stability is key for a successful retirement.
  • Adjusting retirement plans can provide more flexibility and security.

⁠⁠⁠Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠ 

⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire

Connect with me here:

Or, ⁠⁠⁠⁠⁠⁠⁠⁠visit my website

This is for general education purposes only and should not be considered as tax, legal or investment advice.

Ep. 83: ‘Oversaved’ for Retirement? Here Are 6 Opportunities To Consider

Many of the individuals and families we serve end up “Oversaving” for retirement.  If you are in that same situation (you overachieved 😊), you will want to listen to this episode to learn about 6 retirement planning opportunities to consider.  

Takeaways:

  • Many clients are overachievers who overfund their retirement.
  • Financial planning is a continuous process, not a one-time event.
  • Understanding the gap between current wealth and future goals is crucial.
  • Retiring earlier than planned can be a viable option for overfunded individuals.
  • Spending intentionally enhances the retirement experience.
  • Taking on more or less investment risk is a personal choice for overfunded retirees.
  • Gifting during one’s lifetime can create meaningful experiences for family.
  • Legacy planning should involve thoughtful conversations about wealth transfer.
  • The impact of inflation on perceived wealth is significant.
  • Measuring progress against past achievements can improve financial mindset.

I hope you find this episode useful.   

-Kevin 

Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠ 

⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire

Connect with me here:

Or, ⁠⁠⁠⁠⁠⁠⁠⁠visit my website

This is for general education purposes only and should not be considered as tax, legal or investment advice.

Ep. 82: Retirement Related Q+A (Volume 1)

In this week’s podcast, I break down 5 great questions we have either fielded directly in our practice, or have observed in the marketplace from retirees/near retirees.  Shoutout to Roberto for this concept, and if it goes well, we’ll be doing these every 4-5 episodes!  

In this edition, the 5 questions we’ll tackle are:

  • 💬 Question 1: Can I get a mortgage if I just retired and don’t have income? I have the assets!
  • 💬 Question 2: Can a spousal Roth be done for a wife who is retired and draws a pension and Social Security, but no income from working?
  • 💬 Question 3: Rollover my pension or annuitize it? (8.34% payout rate on a $500k pension)
  • 💬 Question 4: Fees — I’m talking to a money manager at one of the large firms. His fee is 1.75%. Does that seem reasonable?
  • 💬 Question 5: Should I bail on US Treasuries and buy CDs because they are FDIC-insured?

I hope you enjoy this one!

-Kevin 

⁠⁠⁠Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠ 

⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire

Connect with me here:

Or, ⁠⁠⁠⁠⁠⁠⁠⁠visit my website

This is for general education purposes only and should not be considered as tax, legal or investment advice.

info@imaginefinancialsecurity.com
(904) 323-2069

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