Tag: Retirement Taxes

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7 Questions Every Woman Should Ask Before Hiring a Financial Advisor (Ep. 94)

7 Questions Every Woman Should Ask Before Hiring a Financial Advisor (Ep. 94)

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Choosing a financial advisor is one of the most important decisions you’ll make as you approach retirement, especially if you’re navigating it on your own. 

Yet many women don’t realize how much clarity and confidence can come from simply asking the right questions before committing to a long-term relationship.

In this episode, I walk through seven essential questions every woman should consider before hiring or changing a financial advisor. We discuss why so many women change advisors after losing a spouse, how to evaluate an advisor’s process, and what to listen for when recommendations are presented. I also explain why retirement income planning, Social Security strategy, and tax coordination require a different level of focus than simply saving for retirement, and how to think about value beyond just the advisory fee. 

Key Takeaways:

  • Why the commonly cited statistic about women changing advisors highlights the need for better conversations
  • The importance of understanding an advisor’s process before agreeing to work together
  • How to evaluate whether recommendations truly align with your goals, values, and concerns
  • Why retirement income planning, Social Security, and tax strategy require specialized focus
  • How to assess value beyond fees, including adaptability, communication, and long-term partnership
  • And more!

Resources:

Connect with Eric Blake: 

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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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