Retirement Elevated Podcast with Sean Lee

What Tax Consequences Should You Be Aware Of?

More than just simply filing your taxes by April 15 each year, what tax consequences do you need to keep in mind with your various investment accounts? On today’s episode of the Retirement Elevated podcast, Sean shares the pros and cons of different investment accounts.
 
Read more and get additional financial resources here: https://wp.me/paeqsR-bs 
 
What we discuss on this episode: 
1:00 - What are the favorite activities right now with Sean’s kids?
3:05 - Different accounts have different tax consequences. 
6:27 - Should you take the employer match?
9:17 - What are taxable accounts?
10:21 - What about CDs?
11:19 - What do you need to know about tax and life insurance?
13:28 - Fun fact: How long ago did the iPhone first come out?

What Is Values-Based Financial Planning?

Is your financial plan aligned with your values? How do you create a values-based financial plan? We’ll explain on today’s episode.
 
Read more and get additional financial resources here: https://wp.me/paeqsR-bi 
 
What we discuss on this show: 
1:39 - What is a values-based retirement plan?
5:02 - Does your retirement plan align with your moral beliefs?
6:32 - What is your charitable giving plan?
7:47 - Do you want to work longer?
10:08 - How does education play a part in your retirement plan?

Is Your Financial Advisor Doing This?

Do you know what your advisor should be helping you with? You don’t know what you don’t know…so we’ll talk today about what you should be discussing with your financial advisor.
 
Read more and get additional financial resources here: https://wp.me/paeqsR-bc 
 
What we discuss on this show: 
2:29 - Is your advisor doing this?
3:37 - Does your advisor include tax planning and strategy?
6:11 - Is your advisor evaluating fees in investments?
9:03 - Have you clarified the target and the goal?
10:26 - What is the difference with a customized plan?

Financial Life and Baseball

Missing baseball season already? Get your fix as Sean talks about the similarities between baseball and financial planning. 
 
Read more and get additional financial resources here: https://wp.me/paeqsR-aU 
 
Check out the 'Life is a Ballgame' PDF: https://wp.me/aaeqsR-aV 
 
What we discuss on this show:
1:46 - Shoring up retirement income strategy is like the middle innings in baseball. 
4:01 - Planning for healthcare costs is an important strategy.
6:36 - Tax efficient strategies change over time.
1:46 - Shoring up retirement income strategy is like the middle innings in baseball. 
4:01 - Planning for healthcare costs is an important strategy.
6:36 - Tax efficient strategies change over time.

2020 End of Year Planning Ideas

As we near the end of the year, let’s talk about what has been happening and what it means for our financial plan. From the election to COVID to saving vs. spending, Sean reflects on what’s been going on in our country.
 
Read more and get additional financial resources here: https://wp.me/paeqsR-aT 
 
What we discuss on this show: 
1:02 - How is the market reacting to the election? 
2:49 - What tax prep should you be doing now?
5:05 - COVID is spiking all over the country and world.
7:10 - What kind of spending might happen in the future?
9:01 - Should we be reinvesting our savings or holding onto it?

Mailbag: Is Now The Time For An Early Retirement?

Is it time to retire? Should you pay off the house? How much do you need to have in the bank? Sean answers these three listener questions on today’s podcast.
 
Read more and get additional financial resources here: https://wp.me/paeqsR-aH 
 
What we discuss on this show:
1:28 - Mailbag: As a small business owner, is now the time to retire early?
5:25 - Mailbag: Which should you pay off first, your home or your rental property?
8:40 - Mailbag: How much money is enough to have in the bank when about to retire?

Football and Financial Planning

Touchdown! We’re taking a short break from Sean’s love of baseball to talk football analogies and how it relates to retirement.
 
Read more and get additional financial resources here: https://wp.me/paeqsR-az 
 
What we discuss on the show: 
0:29 - Sean shares where his football loyalty lies.
1:35 - What is the financial red zone? 
4:29 - Is the hurry up offense a good strategy?
6:10 - What’s the victory formation?
9:20 - Coaches can make a huge difference. 

10 Step Layoff Survival Guide, Part 2

In continuation with our two-part series on how to survive a layoff or forced early retirement, we talk through five more steps on how to get through it. What options do you have moving forward?
 
Read more and get additional financial resources here: https://wp.me/paeqsR-at 
 
Check out Part 1 of the Survival Guide:  https://retirementelevatedpodcast.com/podcast/10-step-layoff-survival-guide-part-1/ 
 
What we discuss on this show: 
0:18 - Sean shares how his kids have been doing lately.
1:38 - Let’s continue our 10 step layoff survival guide.
2:42 - Step 6: Learn about the health insurance options.
4:28 - Step 7: Get a new Social Security estimate.
5:52 - Step 8: Consider the lump-sum payment.
7:46 - Step 9: Determine whether or not you want to go back to work.
9:44 - Step 10: Seek a professional’s opinion.
 

10 Step Layoff Survival Guide, Part 1

What do you do if you get laid off? How can you turn a bad situation into an opportunity? We dive into what you need to do in the first of a two-part series.
 
Read more and get additional financial resources here: https://wp.me/paeqsR-ak 
 
Download our survival guide PDF: https://wp.me/aaeqsR-al 
 
What we discuss on this episode: 
0:55 - Have you been laid off or are you on the cusp of retirement?
2:52 - Step 1: Keep calm and take it one step at a time. 
4:25 - Step 2: Determine your expenses.
7:49 - Step 3: Create an inventory of resources.
10:02 - Step 4: Add in severance pay.
12:14 - Step 5: Understanding how unemployment benefits work. 

Talking with Matt Zagula about SMART Retirement and Taxation

What do tax rates have to do with your financial plan? How do you strategically think through your assets and your financial plan? Matt Zagula shares information from his book to use as a resource when considering what you can do now, ahead of an unknown future.
 
Read more and get additional financial resources here: https://wp.me/paeqsR-ab 
 
On today's show: 
0:29 - Introducing today’s guest author, Matt Zagula.
1:10 - What inspired the book, SMART Retirement?
2:39 - Why did a medical doctor write the book’s foreword?
4:22 - Where are our tax rates going and why?
6:38 - What is the process of planning?
7:23 - Are you going to an old way of thinking or adjust to how the world is changing?
8:41 - What are the two dates listed in the book? 
11:46 - What kind of taxes do you need to consider for the future?
13:48 - What is fuzzy financial math you need to look out for?
17:50 - What is SMART?