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Category: Podcast

Ep. 95: Can We Retire 5 Years Earlier? | Whiteboard Retirement Plan

PFR Nation,

Welcome to another “Whiteboard Retirement Plan” breakdown!

Scottie and Meredith had the perfect plan: retire at 65, sign up for Medicare, and start Social Security at 67. With nearly $1.9 million saved, everything looked like it was on track, until life threw them a curveball. After some friends their age got sick and passed away, they started asking: Why wait? Can we retire right now at 60?

In this Whiteboard Retirement Plan, Kevin Lao stress tests their plan to see if early retirement is really possible without jeopardizing their future.

You’ll hear:

  • How a five-year shift can dramatically impact retirement projections
  • The hidden risks of retiring before Medicare and Social Security kick in
  • Which levers (investment allocation, side hustle income, rental property, and more) can make early retirement realistic
  • The trade-offs between financial security and living life on your own timeline

If you’ve ever wondered whether you could retire earlier than planned without blowing up your financial security, this episode is for you.

-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. 94: Reducing Sequence of Returns Risk

PFR Nation,

As you approach retirement, or even when you are in the beginning phase of retirement, there is this natural feeling of concern about market uncertainty. After all, the market can turn south in a heartbeat, potentially even leading into a recession. Or worse, a prolonged recession. This term is also known as “Sequence of Returns Risk.” It’s not about your long-term average return, it’s about the ‘sequence’ those returns are generated.

I’ve been stress testing different rates of withdrawal with different starting periods. And the ‘Lost Decade’ of the 2000s is a perfect example of why sequence of returns is so important for retirees to protect against.

In this episode, I’ll highlight some of the major downturns since the 2000s. Then, I’ll talk about some real strategies that you can implement as you protect against sequence of returns risk. I hope you find this one useful!

And let me know what YOU plan to do to hedge against this risk. Also, make sure to share this episode with someone who is also approaching retirement, or who has recently retired! I’m sure they’ll also find it useful.

Thanks for tuning in.

Kevin

Key Topics:

• What Sequence of Returns Risk really means and why it matters more than long-term average returns.

• How the “Lost Decade” of the 2000s demonstrates the dangers of poor return sequencing.

• Practical strategies to protect your retirement portfolio from early losses.

• Tips for stress-testing withdrawal rates and planning for different market scenarios.

⁠⁠⁠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. 93: 10 Pieces of Financial Wisdom for Your Adult Children

PFR Nation,

Many of you have adult children or loved ones you hope will benefit from your financial success. But how confident are you in their financial skills? Will they be good stewards of the wealth you leave behind? Even if you don’t plan to leave a fortune, your careful retirement planning might still create a sizable legacy.

I just celebrated 17 years in financial services on 8/28! It’s been a journey full of highs and lows, shaping my perspective on money and life itself. To mark the milestone, I’m sharing 10 key lessons I’ve learned as a financial advisor, entrepreneur, and content creator. My hope is that these insights can help you in your conversations with your adult children or beneficiaries!

I hope you find it 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. 92: Should The 4% Rule Be The 7% Rule?

If you have been a podcast listener for a while, you know I have strong feelings about the “4% Rule.” Well, the father of the 4% Rule, Bill Bengen, just released a new book where he admits that 4% is probably too low. In this episode, we’ll briefly touch on the history of the 4% rule, as well as the findings in his new book. But more importantly, we’ll discuss the downsides of actually using the 4% rule in real retirement planning and touch on some key planning opportunities for YOU (PFR Nation) to consider instead. 

I hope you all find this one helpful! 

Let me know what YOU think of the 4% Rule!

-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.

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:

Or, ⁠⁠⁠⁠⁠⁠⁠⁠visit my website

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.

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