Tag: Retirement Income Planning

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Required Minimum Distributions (RMD) Explained: Risks, Timing, and Tax Planning Strategies (Ep. 92)

Required Minimum Distributions (RMD) Explained: Risks, Timing, and Tax Planning Strategies (Ep. 92)

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RMDs are one of those retirement rules that feel simple on the surface, until the tax consequences show up years later.

In this episode, I walk through what required minimum distributions are, when they start, and why missing or mismanaging them can quietly raise taxes, Medicare costs, and long-term financial stress. I explain how planning early creates flexibility, especially for women navigating retirement transitions, widowhood, or income changes. We also cover practical strategies that can help reduce the tax impact without turning retirement upside down.

Key takeaways:

  • How required minimum distributions work and when they begin under current law
  • The penalties and long-term damage caused by missed or unplanned RMDs
  • How RMDs can increase taxes on Social Security and Medicare premiums
  • Using qualified charitable distributions to reduce taxable income
  • Timing strategies like Roth conversions and filling lower tax brackets
  • And more!

Resources:

Connect with Eric Blake: 

This information is for educational purposes only and does not constitute tax advice. Converting to a Roth IRA is a taxable event and may increase your current-year tax liability. Roth conversions cannot be undone. Individuals should consult a qualified tax professional regarding their specific circumstances.

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The Simply Retirement Roadmap™ Process (Ep. 2)

The Simply Retirement Roadmap™ Process (Ep. 2)

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Planning for retirement is an essential part of our financial journey, but it can be daunting and uncertain at times.

That is when working with experts may be an ideal option, but it’s crucial to have clear details of how the process will be.

In this episode, Eric Blake introduces the Simply Retirement Roadmap process. The process aims to simplify retirement planning and alleviate one’s future concerns. Eric details every stage of the process and the topics discussed in each interaction. Additionally, he explains the benefits of working with Blake Wealth Management and the importance of creating a long-term relationship.

Eric discusses: 

  • The concept of Simply Retirement and the origins of the Simply Retirement Roadmap Process
  • The Simply Retirement Process and how it alleviates concerns about working with a financial advisor
  • The purpose and content of the first meeting
  • The second meeting where Eric presents a roadmap with specific recommendations for improving financial position and achieving retirement goals
  • The four key areas of retirement planning
  • The three key questions in retirement planning
  • The implementation process and decision-making steps after creating a retirement plan
  • And more!

 

Resources:

Connect with Eric Blake: 

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Introducing The Simply Retirement Podcast: Meet Host Eric Blake (Ep. 1)

Introducing The Simply Retirement Podcast: Meet Host Eric Blake (Ep. 1)

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Are you ready to step into the realm of retirement planning and financial guidance?

Introducing the Simply Retirement Podcast!

Prepare to be captivated by the captivating inaugural episode of the Simply Retirement Podcast! Join us as Eric Blake, a seasoned financial planning expert, shares his extraordinary journey and invaluable background in the realm of finance. Brace yourself for an intimate glimpse into the challenges he encountered during his early years as a financial advisor and the invaluable lessons he learned along the way.

Unveiling his unwavering passion for retirement income planning, Eric sheds light on the paramount significance of comprehending social security benefits and how it can shape our financial destinies. But that’s not all—prepare to be inspired as he reveals his personal hobbies and his resolute commitment to assisting individuals, particularly women, in navigating their financial endeavors with confidence and success.

In this episode Eric discusses: 

  • How retirement income planning positively impacts his clients and the importance of financial organization during this crucial stage of life
  • His passion for helping women achieve retirement, especially those who have gone through a divorce or have been widowed
  • Exploring the potential benefits of Social Security and its transformative impact on your financial future
  • The significant influence a skilled financial advisor can have on their clients and their families’ lives
  • Unraveling the three essential elements of the retirement puzzle, masterfully pieced together by Eric
  • A sneak peek into the meticulous process employed by Blake Wealth Management when working with prospective clients
  • And more!

 

Resources:

Connect with Eric Blake: 

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