Protecting & Preserving Wealth
Business & Economics Podcasts
In the Protecting & Preserving Wealth podcast, Bruce Hosler discusses and provides timely answers to important topics for our listeners: • Tax Reduction Strategies • Financial & Estate Planning • Investment Management • Retirement Planning • Insurance Strategies • Business Owner Exit-Planning Strategies • Current Events and their Market Effects We started the podcast because a number of clients have questions, and this is a way for us to give them a venue to listen to different answers on all the things they're concerned about today. First and foremost, foundationally, for most people, taxes are a very important thing. We always start with taxes and then we go from there and work on financial planning issues like retirement. Am I going to have enough? How am I going to leave my stuff to my legacy, to my kids and family? In estate planning, we include asset management because everybody wants to know where their money's invested and how safe and how protected it can be. And how can it grow in the face of this inflation that we're facing today. And finally, we use insurance strategies to make sure that when the moment of truth arrives, everything's okay for the family. Throughout this podcast, we're going to meet the Hosler team and how each of them plays a role in securing your financial future. Hosler Wealth Management, LLC can be reached in their Prescott office at (928) 778-7666, in their Scottsdale office at (480) 994-7342, or on the web at https://www.hoslerwm.com/. Securities and advisory services offered through Commonwealth Financial Network®, Member www.FINRA.org/www.SIPC.org, a Registered Investment Adviser. 700 S. Montezuma Street, Prescott, AZ 86303. Phone: 928.778.7666. The Financial Advisors associated with this Podcast may discuss and/or transact business only with residents in states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state. Please check Broker Check for a list of current registrations. Information presented on this site is for informational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any product or security. Fixed insurance products and services are separate from and not offered through Commonwealth. Tax preparation and accounting services offered by Hosler Wealth Management, LLC are separate and unrelated to Commonwealth. Commonwealth Financial Network® does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation. Forward-looking commentary should not be misconstrued as investment or financial advice. The advisor associated with this podcast does not monitor for comments and any comments should be given directly to the office at the contact information specified. Investments are not FDIC- or NCUA-insured, are not guaranteed by a bank/financial institution, and are subject to risks, including possible loss of the principal invested. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding Federal or State tax penalties or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. The accuracy, completeness, and timeliness of the information contained in this podcast cannot be guaranteed. Accordingly, Hosler Wealth Management, LLC does not warranty, guarantee, or make any representations or assume any liability with regard to financial results based on the use of the information in this podcast. Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia Protecting & Preserving Wealth (podcast) is owned and produced by Hosler Wealth Management, LLC Prescott Office: 700 S Montezuma St Prescott, AZ 86303 Tel. (928) 778-7666 Scottsdale Office: 7400 E Pinnacle Peak Rd Suite #100 Scottsdale, AZ 85255 Tel. (480) 994-7342 #HoslerWealthManagement #Protecting&PreservingWealthPodcast #BruceHosler #ProtectingWealthPodcast © 2022 - 2023 Hosler Wealth Management, LLC, All Rights Reserved.
Location:
United States
Description:
In the Protecting & Preserving Wealth podcast, Bruce Hosler discusses and provides timely answers to important topics for our listeners: • Tax Reduction Strategies • Financial & Estate Planning • Investment Management • Retirement Planning • Insurance Strategies • Business Owner Exit-Planning Strategies • Current Events and their Market Effects We started the podcast because a number of clients have questions, and this is a way for us to give them a venue to listen to different answers on all the things they're concerned about today. First and foremost, foundationally, for most people, taxes are a very important thing. We always start with taxes and then we go from there and work on financial planning issues like retirement. Am I going to have enough? How am I going to leave my stuff to my legacy, to my kids and family? In estate planning, we include asset management because everybody wants to know where their money's invested and how safe and how protected it can be. And how can it grow in the face of this inflation that we're facing today. And finally, we use insurance strategies to make sure that when the moment of truth arrives, everything's okay for the family. Throughout this podcast, we're going to meet the Hosler team and how each of them plays a role in securing your financial future. Hosler Wealth Management, LLC can be reached in their Prescott office at (928) 778-7666, in their Scottsdale office at (480) 994-7342, or on the web at https://www.hoslerwm.com/. Securities and advisory services offered through Commonwealth Financial Network®, Member www.FINRA.org/www.SIPC.org, a Registered Investment Adviser. 700 S. Montezuma Street, Prescott, AZ 86303. Phone: 928.778.7666. The Financial Advisors associated with this Podcast may discuss and/or transact business only with residents in states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state. Please check Broker Check for a list of current registrations. Information presented on this site is for informational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any product or security. Fixed insurance products and services are separate from and not offered through Commonwealth. Tax preparation and accounting services offered by Hosler Wealth Management, LLC are separate and unrelated to Commonwealth. Commonwealth Financial Network® does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation. Forward-looking commentary should not be misconstrued as investment or financial advice. The advisor associated with this podcast does not monitor for comments and any comments should be given directly to the office at the contact information specified. Investments are not FDIC- or NCUA-insured, are not guaranteed by a bank/financial institution, and are subject to risks, including possible loss of the principal invested. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding Federal or State tax penalties or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. The accuracy, completeness, and timeliness of the information contained in this podcast cannot be guaranteed. Accordingly, Hosler Wealth Management, LLC does not warranty, guarantee, or make any representations or assume any liability with regard to financial results based on the use of the information in this podcast. Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia Protecting & Preserving Wealth (podcast) is owned and produced by Hosler Wealth Management, LLC Prescott Office: 700 S Montezuma St Prescott, AZ 86303 Tel. (928) 778-7666 Scottsdale Office: 7400 E Pinnacle Peak Rd Suite #100 Scottsdale, AZ 85255 Tel. (480) 994-7342 #HoslerWealthManagement #Protecting&PreservingWealthPodcast #BruceHosler #ProtectingWealthPodcast © 2022 - 2023 Hosler Wealth Management, LLC, All Rights Reserved.
Language:
English
Website:
https://www.hoslerwm.com
Email:
info@hoslerwm.com
Episodes
2024 Mid-Year Market Review Part 1
7/17/2024
Today, we are taking a midyear look at the financial markets for 2024, focusing on key metrics and trends influencing our investments and financial decisions.
As of our recording date of July 2nd, the S&P 500 has impressively risen over 15%, currently standing at 5,495. Bruce explains that the price-to-earnings (PE) ratio is at 20.99, indicating a slightly higher but not alarming level compared to historical averages. Jason adds that a pullback is possible despite the market’s strong performance, though they remain optimistic about the market’s upward trend through the year’s end.
We delve into the resilience of major companies within the S&P 500, such as Nvidia, Apple, and Microsoft, collectively representing a significant portion of the index. Jason discusses how these companies’ consistent earnings and product demands are likely to sustain their growth, despite potential short-term pullbacks, providing a sense of stability to our investments.
Regarding annual returns and intra-year declines, Jason notes that typical market behavior includes pullbacks, even in strong years. This year’s largest drawdown is 5%, but overall, the market is up 15%. I emphasize the potential benefits of long-term investment strategies, suggesting that market volatility can be advantageous if investments are not sold prematurely, instilling a sense of optimism in our investment approach.
On consumer finances, Jason highlights signs of financial stress due to inflation, particularly for lower-income households. Despite this, household debt service ratios remain historically low at about 9.9%, indicating relative financial health compared to the past four decades.
However, savings rates are under 4%, a concerning drop from previous years. We stress the need for prioritizing savings as part of financial planning, noting that inflation and higher living costs are squeezing household budgets. By prioritizing savings, we can empower ourselves to navigate these financial challenges more effectively.
Inflation remains a significant issue, with ongoing impacts on various sectors, especially those sensitive to interest rates like real estate and finance. I point out that inflation is proving challenging to control despite the Federal Reserve’s high interest rates. Oil prices, for instance, are still rising, complicating efforts to stabilize the economy.
Interest rates influence investment strategies, shifting preferences within portfolios. Jason notes that higher interest rates can benefit fixed-income investments while still posing challenges for businesses and consumers. Companies are grappling with higher costs and interest payments, which affect profit margins and necessitate selective investment strategies.
As we wrap up part one of our midyear review, it’s clear that inflation and interest rates remain pivotal topics. We’ll continue this discussion in part two, examining additional financial trends and providing more insights for navigating the rest of 2024.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:15:32
Moving to Tax-Free in 8 Steps
7/3/2024
In this episode of Protecting and Preserving Wealth,' we dive into Bruce Hosler's article, "Moving to Tax-Free: Eight Steps You Can Take for Success." We are joined by Bruce Hosler and Alex Koury, who walk us through these crucial steps to achieve a tax-free retirement.
We begin with the importance of sourcing and engaging trusted advisors. A team consisting of a tax planner, financial planner, estate planning attorney, and wealth advisor is essential. These professionals help navigate the complexities of current and future tax laws, ensuring a comprehensive understanding of one's financial situation.
Next, we discuss the necessity of preparing a tax plan and calculating the ideal IRA to Roth IRA conversion amount. This step involves strategic planning to balance paying taxes now to reduce future tax liabilities. Factors such as age and the size of one's IRA play a significant role in determining the conversion amount.
For those required to take minimum distributions (RMDs), Bruce emphasizes taking these distributions early in the year to avoid complications with Roth conversions. This ensures a smooth transition and avoids IRS issues.
Making the actual Roth conversion is critical. Unlike IRA contributions, Roth conversions must be completed within the calendar year. Opening a Roth IRA, if one doesn't exist, and initiating the conversion process well before year-end is crucial to avoid last-minute issues.
We then explore the Life Insurance Retirement Plan (LIRP), which provides tax-free benefits and long-term care coverage. Each spouse should have a LIRP to ensure financial flexibility and tax-free withdrawals, especially important for estate planning and tax efficiency.
When paying taxes on Roth conversions, individuals under 59.5 years of age should use funds outside their IRA to avoid penalties. Those over 59.5 can pay directly from their IRA, which can be advantageous in managing tax obligations.
Creating a dynamic financial plan with the help of professionals is the seventh step. Unlike static plans, dynamic plans adjust to life changes and financial developments, much like a GPS providing real-time directions (as opposed to the old Rand McNally atlas). This adaptability is key to maintaining a tax-free retirement strategy.
Finally, the eighth step underscores the importance of a qualified wealth manager to implement and maintain the tax-free strategy. Professional guidance ensures that the plan is executed correctly, avoiding costly mistakes and unintended tax consequences.
Overall, these eight steps provide a structured approach to achieving a tax-free retirement, emphasizing the importance of professional guidance and strategic planning.
To view the whitepaper in its entirety, please visit Moving to Tax-Free: Eight Steps You Can Take for Success!
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:17:04
The Roth IRA is no longer the ideal wealth transfer vehicle
6/19/2024
In this episode of 'Protecting and Preserving Wealth,' we delve into the significant changes to the Roth Stretch IRA, resulting from the SECURE Act, that came into effect on January 1, 2020. This Act drastically altered the landscape, as it now requires inherited IRAs to be fully withdrawn within ten years, eliminating the lifetime benefit that was once the key feature of the Roth Stretch IRA.
I explain that the Roth Stretch IRA was an ideal tool for wealth transfer, providing a tax-free, lifelong income stream for beneficiaries. With the new 10-year limit, the tax-free advantage diminishes significantly. Jason emphasizes that the rising national debt and projected increases in tax rates make the loss of this tool even more impactful, given the likely increase in taxes in the future.
To address this challenge, Jason and I also introduce the concept of a two-generation tax-free legacy plan. This strategy involves leaving a portion of one's legacy as a tax-free income stream for the children's lives while also protecting these assets from creditors, lawsuits, and divorces. This plan integrates various financial disciplines, including retirement income planning, tax planning, and risk management.
We highlight that this plan is particularly beneficial for families with more savings than they need for retirement and want to ensure their children are financially secure over their lifetimes. It provides a way to manage wealth transfer in a tax-efficient and protected manner, addressing both the financial needs and the potential behavioral tendencies of the heirs.
The conversation also touches on the psychological aspect of delayed gratification, likening it to the Stanford marshmallow experiment. The two-generation plan enforces delayed gratification by structuring the inheritance in a way that promotes long-term financial stability for the heirs rather than providing a lump sum that could be mismanaged.
In conclusion, Hosler Wealth Management offers valuable insights into adjusting estate planning strategies in light of legislative changes. They invite listeners to explore the two-generation tax-free legacy plan and to contact Hosler Wealth Management for personalized advice.
To view the whitepaper in its entirety, please visit The Roth IRA is no longer the ideal wealth transfer vehicle.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:11:43
Stock Market History During Presidential Election Cycles
5/29/2024
This episode of "Protecting and Preserving Wealth" discusses the stock market's behavior during the presidential election years and its implications for investors. As the November 5th, 2024, presidential election approaches, many investors are concerned about market performance under different administrations and the potential for a market crash if the "wrong" president is elected.
Around $5 trillion is currently sitting in cash due to concerns over inflation and global uncertainties, not just the election. However, historically, the stock market has shown resilience and performed well during election years, with an average return of 11.6% since 1926. This data should instill confidence in the market's ability to weather political storms.
Alex explains that while the first half of an election year is typically weak, the second half often sees improvement. However, 2024 has been an exception, with a strong start driven by factors beyond the election. Despite potential volatility, we remain optimistic about the year's overall performance. This optimism should inspire a positive outlook in our audience.
We all agree that despite political tensions, investors must focus on long-term fundamentals rather than short-term market reactions.
The conversation moves to why investors should consider allocating cash now. I explain that money market funds typically hold more cash during election years due to investor caution, but this strategy can lead to missed opportunities. With the S&P and NASDAQ up significantly in 2024, staying in cash could mean missing out on market gains.
When asked how Hosler Wealth Management positions client portfolios, Alex describes our pro-growth stance with a balanced approach that includes hedging strategies to protect against downside risks; I advise retirees to ensure their portfolios are inflation-adjusted and to draw income from fixed-income investments to avoid market volatility.
In conclusion, diversification and sticking to a well-crafted financial plan are crucial. Investors should remain focused and not be swayed by political noise. For personalized advice, Bruce invites listeners to contact Hosler Wealth Management.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:16:02
Protecting and Preserving Wealth Explained
5/15/2024
In this episode of "Protecting and Preserving Wealth," Jason Hosler and I discuss the firm's commitment to protecting their clients' financial futures. I begin by underlining the company's longstanding dedication to protecting and maintaining money during global volatility, something many overlook.
Delving into my new book, "Moving to Tax-Free," I underscore the practicality of tax protection in wealth preservation. Taxes, a significant lifelong expense for many, can be effectively managed to safeguard financial resources. Jason introduces the 'Magnificent 7'—a group of high-performing tech stock investment strategies—highlighting its potential to prevent missing out on market gains, a practical approach to wealth preservation.
The discussion delves deeper into the concept of 'Sequence of Return' risk, which Jason explains as the danger of experiencing significant market losses early in retirement, potentially jeopardizing the financial stability of a retiree's later years. We will describe our "PASS" system (Portfolio Asset Sequence System), which structures clients' portfolios to mitigate risks associated with market downturns during critical withdrawal phases.
Another focal point is inflation's role as the "silent killer" of the standard of living. Key strategies are discussed to combat its long-term erosive effects through diversified investment in growth-oriented assets. I will also touch on the importance of proper estate planning, including wills, trusts, and accurate beneficiary designations, to avoid future financial complications and ensure clients' wishes are fulfilled.
We conclude by addressing the overarching goal of preserving wealth, not just for the clients themselves but also for future generations. We cannot emphasize enough the need to stay updated with changing tax laws and wealth transfer strategies, particularly in light of legislative changes like the Secure Act and Secure Act 2.0.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:11:43
BONUS - David McKnight On The Power of Zero in 2024
4/17/2024
Bruce Hosler welcomes a special guest for today’s episode. We discuss the critical state of the U.S. national debt and its implications for future tax rates with David McKnight, author of “The Power of Zero.” McKnight highlights the dramatic increase in national debt from $5 trillion in 1999 to an expected $54 trillion by 2033. This surge is attributed to unfunded wars, healthcare programs, and economic bailouts. The conversation underscores the lack of governmental action to address the unfunded obligations for Social Security, Medicare, and Medicaid, which pose a significant threat to the country’s fiscal stability.
McKnight points out the alarming debt-to-GDP ratio, warning that exceeding a 175% threshold could lead to a financial collapse from which recovery would be impossible. The discussion also highlights the rising interest rates and their impact on the servicing costs of the national debt, underlining the urgent need for substantial revenue sources to manage these expenses alongside government operations. These costs will almost assuredly mean higher taxes, making it crucial for investors to act now.
The conversation shifts to tax planning strategies, critiquing the financial industry’s general lack of preparedness to help individuals navigate toward tax-efficient retirement. McKnight categorizes financial advisors based on their approach to tax planning, advocating for a comprehensive strategy that includes Roth conversions and life insurance retirement plans to achieve a tax-free income in retirement.
David criticizes popular financial gurus for their inadequate guidance on tax planning and their general dismissal of specific financial products that could benefit retirees. He introduces his upcoming book, “The Guru Gap,” which exposes the shortcomings in the advice these gurus provide and offers a path to better financial planning.
Finally, the discussion addresses the impending challenges with the Medicare Trust Fund and the necessity for significant tax increases to cover the looming fiscal shortfalls. McKnight emphasizes the importance of proactive financial planning to mitigate the impact of higher taxes and ensure financial stability in retirement.
Throughout this episode, Bruce and David discuss several strategies investors can use to protect themselves and move toward a tax-free retirement.
To purchase a copy of Bruce's new book, MOVING TO TAX-FREE, go to https://movingtotaxfree.com.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:23:48
MOVING TO TAX-FREE™ Bruce's New Book
4/3/2024
In this episode of "Protecting and Preserving Wealth," we dive into the significance of moving financial assets to tax-free vehicles, a topic Bruce Hosler has extensively explored in his new book, "Moving to Tax-Free." Bruce, alongside Jason Hosler and host Jon Jag Gay, discusses the critical nature of planning for a tax-free retirement, emphasizing the importance of strategic financial planning to mitigate future tax burdens.
Bruce opens the conversation by highlighting the central question of whether tax rates in the United States will increase, decrease, or remain the same over the next decade. This question is pivotal as it directs individuals on how to plan their financial futures. He argues that due to mathematical and scientific reasons, rather than political, tax rates are likely to double in the next ten years. This prediction is supported by the impending insolvency of Medicare and Social Security trust funds, the national debt crisis exacerbated by inflation and higher interest rates, and the comparison of U.S. tax rates to those of other developed countries.
The discussion then shifts to the common but misguided question many people ask about minimizing taxes in the current year, rather than focusing on reducing lifetime tax liabilities. Bruce and Jason emphasize the importance of annual tax planning and making informed decisions about moving assets to tax-free accounts, such as Roth IRAs and 401(k)s. They argue that paying taxes now, at current lower rates, can help to prevent paying higher taxes in the future.
The conversation also touches on the reluctance of the financial advisory industry to promote moving to tax-free accounts due to potential conflicts of interest, as advisors' fees are often based on the assets under management, which would decrease as clients pay taxes on conversions to tax-free accounts.
Bruce offers practical advice for listeners to start their journey toward a tax-free retirement, including stopping contributions to traditional tax-deferred accounts and starting to contribute to Roth accounts. He also addresses concerns about the government potentially taxing Roth accounts in the future, arguing that historical precedents suggest that existing accounts would likely be grandfathered in, should any changes occur.
Finally, Bruce introduces innovative legacy planning strategies detailed in the book - a plan he calls "The Two Generation Tax-Free Legacy Plan" - designed to provide a tax-free income stream for children and protect assets from potential legal and financial threats.
For more info on Bruce's book and how to purchase it, you can visit https://movingtotaxfree.com/
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:14:41
Refinance Your Retirement
3/20/2024
We're unpacking a novel concept today: refinancing your retirement. Amidst soaring interest rates similar to those of the early 2000s, we explore why now might be the golden hour to lock in these rates for your retirement plans.
First, I break it down, highlighting how current high rates offer a rare chance to secure high-income payouts from annuities and their living benefits. We haven't seen an environment like this in about 15 years. This environment presents a unique opportunity to reassess where your money is parked and possibly guarantee income like never before.
Alex adds to the conversation, underlining the urgency of the situation. Thanks to these rates, he emphasizes the efficiency of buying more income with less money. Before rates drop, he points out the importance of acting now to maximize your investment's income potential. This strategy isn't just about immediate gains but also about long-term financial planning and making your money work smarter.
Who should consider this strategy? Pretty much everyone, from those in their 40s to those in their 70s. The idea is to reposition your assets to benefit from the current high-interest rates, ensuring a portion of your retirement is secured with these higher living benefits. This could potentially lead to a significantly more comfortable retirement, a retirement you've always dreamed of.
The conversation shifts to the current financial landscape, where $6 trillion sits in money market funds, earning around 5%. Alex points out the temporary nature of these earnings and the importance of being proactive in reallocating assets before rates fall. We recommend looking into bonds, dividend-paying stocks, and even real estate as potential areas for reallocating cash, emphasizing the importance of locking in rates now before they drop.
We also touch on the broader investment opportunities in 2024, including private equity and undervalued stocks, showcasing the diverse avenues for investment beyond traditional stocks and bonds. We share insights into Hosler Wealth Management's approach to retirement planning, emphasizing the importance of dynamic financial planning and the innovative financial instruments available today that differ significantly from the past.
It's essential to have a flexible, dynamic retirement plan that adapts to changing financial landscapes. We encourage listeners to keep an open mind about retirement planning and highlight the diverse tools and strategies available to ensure a secure and enjoyable retirement.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:17:09
Retirement Questions When Selling Your Business
3/6/2024
Today we are covering retirement planning for business owners during and after the sale of their business. Bruce Hosler and Alex Koury are both Certified Exit Planning Advisors (CEPA®), and our conversation revolves around ensuring business owners have enough funds to retire comfortably after selling their business. This is a significant concern since many owners have their wealth tied up in their businesses.
Bruce shares a success story about clients who, after 40 years in business, sold their land for a substantial sum, adding a comfortable cushion to their already solid retirement plan. This story highlights the importance of strategic planning and understanding the value of business assets beyond just the operational aspects.
On the flip side, Alex brings up a cautionary tale. He talks about a family who sold their business for two million dollars but had to pay over $500,000 in taxes, a scenario they weren't prepared for. This example underscores the importance of thorough tax planning and understanding the financial implications of a business sale.
We then shift our focus to the importance of having a retirement income plan. Bruce emphasizes the need for realistic financial planning, especially for baby boomers nearing retirement. He points out the risks of inadequate planning, which can lead to a reduced lifestyle or, worse, running out of money prematurely. He also touches on the impact of external factors like health, regulatory changes, and economic shifts on businesses and retirement plans.
Alex highlights common pitfalls in business sales, such as not having the right advisory team or overestimating the business's value. He stresses the importance of a comprehensive exit plan, considering not just the financial aspects but also the human element, including the impact on employees and family.
Bruce elaborates on the concept of an exit plan, emphasizing the need for a well-structured approach that enhances business value and prepares for unforeseen circumstances. He mentions the "Five Ds" - divorce, disagreements, disability, distress, and death - that can unexpectedly force a business sale.
As we wrap up, Alex and Bruce reiterate the importance of early and thorough planning, ideally starting ten years before a planned exit. A skilled team of professionals is necessary to guide the process and ensure all aspects, from financial planning to succession.
For business owners looking for guidance, Hosler Wealth Management offers expertise in financial planning and business exit strategies. They can be reached through their website or their offices in Prescott and Scottsdale (contact info below). This episode serves as a crucial reminder for business owners to plan meticulously for their retirement, considering the many variables that can affect their post-sale life.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:15:58
Tax Questions When Exit Planning For Your Business
2/21/2024
Today, Bruce and Jason Hosler of Hosler Wealth Management dive into the complexities of exit planning and tax issues related to selling a business. We kick off discussing the importance of understanding a business's structure when preparing for a sale. The structure, whether it's a sole proprietorship, partnership, LLC, S-corporation, or C-corporation, significantly impacts tax implications. We note that some business owners even change their structure before a sale for better tax treatment.
There are differences between selling business assets and selling stock. Selling assets involves transferring individual business components, while selling stock means transferring ownership of the entire entity. This choice affects tax payments and liabilities. Asset sales might allow for a step-up in basis, reducing capital gains taxes, whereas stock sales can involve fewer transactional steps.
We then explore how to determine a business's fair market value before a sale. It's industry-dependent, often involving multiples of EBITDA or gross revenues. It's important to engage a professional firm for valuation, considering factors like hiring family members or owning vehicles through the business.
Next, we delve into capital gains tax rates and their application to business sales. These rates vary based on income, with different thresholds affecting the percentage of capital gains tax. We discuss the benefits of installment sales in managing these taxes, spreading out capital gain recognition over several years.
The net investment income tax (NIIT) also comes up, a 3.8% tax on certain investment incomes, including capital gains, applicable above specific income thresholds. We touch on Section 1202, beneficial for C-corporation stockholders, potentially excluding a significant portion of gains from taxes.
We cover the concept of installment sales, useful for business sellers who don't need all the money upfront. This can keep capital gains tax at a lower rate. We also discuss deducting business expenses related to the sale, like valuation, legal fees, and brokerage commissions.
Depreciation recapture is another critical topic. When businesses sell assets like real estate or equipment, the IRS requires recapturing previously claimed depreciation, often taxed at 25%. This can be a surprise for many business owners.
State-level taxes are crucial too, as they vary widely. For instance, California has specific capital gains taxes and withholding requirements for real estate sales. We also explore selling a business to an employee stock ownership plan (ESOP), which can be tax-advantageous for both the seller and the employees.
Section 1031 exchanges are relevant for real estate assets within a business sale, allowing deferral of capital gains tax when exchanging like-kind properties. We stress the importance of due diligence in identifying potential tax liabilities before a sale and the role of careful planning in addressing employee benefits during the sale process.
Finally, we discuss the factors influencing the form of payment for a business sale, such as cash, stock, or a combination. The choice can significantly impact the sale price and the seller's financial needs.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:20:14
2024 Election Year Market Outlook
2/7/2024
Today we have a comprehensive discussion with Bruce Hosler and Alex Koury of Hosler Wealth Management about the market outlook for 2024. We're now into a Presidential election year, and Alex addresses the common concern about the impact of presidential elections on market performance. Historically, the market has averaged an 11.6% return during election years, regardless of the winning party. This trend suggests that the political landscape may not be as influential on market performance as often perceived.
But Bruce cautions against expecting a smooth market ride in 2024, despite the historical data. He highlights the unpredictability of the market, especially considering the significant influence of the 'Magnificent Seven' stocks. These stocks have driven a large portion of the S&P 500's growth but also pose a risk of correction. This underscores the need for investor preparedness for potential market volatility.
While the S&P 500 saw a 24% increase in 2023, again, this was largely due to the 'Magnificent Seven.' For a similar rally in 2024, a broader range of stocks would need to contribute to market gains. He also emphasizes the importance of being aware of market risks, including the potential impacts of Federal Reserve policies and global events.
Bruce Hosler then shifts to other investment opportunities beyond the 'Magnificent Seven,' suggesting a need for diversification. He discusses the impact of Federal Reserve policies on interest rates and the implications for various sectors, including small caps and companies affected by interest rate changes. He also stresses the importance of a diversified portfolio and a long-term investment strategy, using examples like Microsoft and Costco to illustrate potential opportunities outside the dominant stocks.
The conversation then turns to broader economic considerations. Bruce Hosler discusses the housing market, consumer spending, and employment trends, suggesting cautious optimism for the economy in 2024. He notes the potential for a mild recession but does not foresee a severe downturn unless triggered by significant geopolitical events.
Finally, we emphasize the importance of strategic investment planning. Investors should assess their financial goals and risk tolerance and not miss out on potential market opportunities due to fear or uncertainty. Have a financial plan that aligns with your investment timeline and risk profile.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:15:13
2024 Interest Rate Outlook
1/17/2024
Today, Bruce and Jason Hosler delve into the financial landscape of 2024, focusing on the pivotal role of interest rates, the ongoing impact of inflation, and the potential influence of the presidential election on the economy.
The Federal Reserve had significant influence on the financial events of 2023, particularly through historic rate increases and a subsequent pause. We collectively foresee this trend continuing to shape the markets in 2024. We recognize that the market's recent fluctuations are largely a result of the COVID-19 pandemic and the government's response, which included aggressive measures to combat rising inflation.
We explore the possibility of the Fed reducing interest rates in 2024. While the Fed has indicated potential rate cuts, the bond market anticipates more substantial reductions than what the Fed currently projects. This suggests that the market is expecting a 'soft landing' strategy from the Fed, aiming to control inflation without leading to a recession.
A recession in 2024 is a possibility, contingent on specific adverse events such as a resurgence in inflation or escalating geopolitical tensions. There's a wide range of predictions among analysts regarding the Fed's actions and the potential for a recession, reflecting the current climate of uncertainty in the financial markets.
Of course, 2024 is a Presidential election year. The Fed, despite its efforts to remain politically neutral, faces pressure to maintain a stable economy during an election year. There is a complex relationship between political parties and economic performance. Incumbents, regardless of their party, are vulnerable to public dissatisfaction in times of economic downturn.
Inflation remains a primary concern for us. We observe that despite a decrease in the inflation rate, the cost of living remains high for most Americans. Bruce and Jon cite McDonalds and Burger King, respectively, as examples.
We also touch upon the oil market, noting a recent decrease in prices and the potential impact of Middle Eastern geopolitics on global oil prices. This could influence the Fed's interest rate decisions if it leads to increased inflation.
For short-term interest rates, we predict that a decrease in these rates could prompt investors to seek higher yields elsewhere, potentially increasing market volatility. We anticipate a swift shift in investor behavior as returns on safer investments like money market accounts diminish.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:15:01
The US Debt Clock - And What It Can Tell You
1/3/2024
Today, Bruce Hosler and Jon Gay dive into the financial realities of the United States, focusing on the website USDebtClock.org. This website offers real-time data on national finances, including our ever-increasing national debt. As of this podcast, the U.S. national debt is at about $33.7 trillion, a steep increase from $27 trillion just three years ago.
We also discuss the significance of debt-to-GDP ratio. Currently, the U.S. debt-to-GDP ratio stands at an alarming 124.42%, which is far higher than it has been in past years. This ratio is concerning for several reasons, especially considering that federal spending continues to increase, contributing to a budget deficit of approximately $1.85 trillion.
The rising interest on the national debt is another red flag. At present, interest payments on the debt are about $673 billion per year, a number that could soon surpass our national defense spending. In fact, projections for 2027 show interest payments on the debt could exceed $3 trillion.
Aside from the national debt and budget deficit, we also address some of the most significant budget items in the U.S., such as Medicare/Medicaid, Social Security, and Defense spending. The Medicare Trust Fund, for example, is set to run out of money by 2028, which would require hard decisions on benefits cuts or tax increases.
What does all this mean for you? Americans should prepare for fiscal difficulties in the next five years. Tax increases may be on the horizon, especially when the Tax Cuts and Jobs Act expires in 2025. We offer advice for listeners on how to protect themselves from these looming challenges.
Resources:
US Debt Clock: https://usdebtclock.org/
Increase in Baby Boomers Article:
https://www.investors.com/etfs-and-funds/retirement/retirement-planning-reckoning-arrives-as-baby-boomer-generation-hits-peak-65/#:~:text=According%20to%20the%20U.S.%20Census,will%20be%2065%20or%20older
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:14:46
The S&P in 2023 and The 'Magnificent Seven'
12/20/2023
Today, Bruce and Alex Koury talk about the S&P 500's present situation and potential future growth, emphasizing the role that specific stocks and more general investment strategies play in these turbulent times.
Alex begins by outlining the S&P 500's incredible 2023 performance, powered mainly by seven stocks—dubbed the 'Magnificent 7.' These are IT behemoths like Apple, Amazon, Meta, Google, Microsoft, NVIDIA, and Tesla, who together accounted for 80% of the index's returns. At the same time, the 493 stocks that were left were essentially unchanged. This concentration calls into question the durability of such growth and the possible consequences of excessive reliance on a small number of well-performing firms.
Bruce highlights how AI is driving these tech firms, and he recommends that investors should be cautious about the anticipated downturn in the market, even though they might still perform well in 2024. Bruce draws attention to the risk of recency bias, which occurs when investors assume that the future will look like the recent past and may fail to see other investing opportunities.
What about financial tactics in light of inflation and varying interest rates? Bruce draws attention to the recent decline in the 10-year Treasury yield and speculate that there may be opportunities to purchase fixed-income securities, especially bond mutual funds trading below par. He also discuss how the Federal Reserve's interest rate policy may impact money market funds and CDs. Bruce also counsel listeners to incorporate diversification and long-term planning into their investment plans.
Alex cautions listeners not to fall victim to recency bias and the hype surrounding AI and tech stocks. Even though these stocks have done well, it is still worthwhile to investigate other industries and prospects. In addition, he stresses the value of having liquidity and getting ready for possible market turmoil in 2024.
As the episode ends, Alex and Bruce stress the value of diversification—not just in terms of asset classes but also in taking into account industries other than the tech stocks that have been performing exceptionally well. They also discuss the possibilities of annuities and fixed-income investments in the current economic environment. They remind listeners that, particularly in the face of persistent inflation, a balanced approach to investing is necessary, one that considers both short-term income requirements and long-term gainn.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:13:07
The Corporate Transparency Act - What You Need to Know
12/13/2023
Bruce and Jason Hosler discuss the Corporate Transparency Act (CTA) implications for small business owners. The CTA, a new regulation set by the Treasury Department's lesser-known division, The Financial Crimes Enforcement Network (FinCEN), mandates that most small businesses disclose comprehensive information about their beneficial owners. This mandate includes personal and contact details, requiring a new application process starting January 1st, 2024.
Bruce elaborates on the Beneficial Ownership Information (BOI) regulations, which define a beneficial owner as anyone who either directly or indirectly exercises substantial control over a company or owns at least 25% of its shares. For sole member LLCs, like Jon's, our co-host, only the member's information is needed, not their spouse's. However, there are concerns about the security and accessibility of this information, as it will be available to various government agencies for national security and law enforcement purposes.
The conversation also touches on the genesis of the CTA, rooted in the government's efforts to combat money laundering. However, the broad scope of the act means that even small businesses are required to comply, with significant penalties for non-compliance, including a $500 daily fine and potential jail time. Businesses can start reporting on January 1, 2024, but those established in 2024 will have only 90 days post-formation to file their initial report. Businesses that began prior to January 1st, 2024, will have until January 1, 2025, to file.
Bruce advises businesses to start preparing now by identifying beneficial owners, designating a compliance officer, updating legal records, familiarizing themselves with the reporting form, seeking professional help, and staying informed about legal changes. Jason adds that businesses should consider forming new entities before 2024, closing inactive ones, avoiding filing in states promoting anonymity, and incorporating CTA considerations into business transactions.
Jason says that owners should close any businesses that are no longer in operation, and if you're thinking of opening a business in 2024, doing so before the end of 2023 will give you until the end of 2024 to file your BOI reports.
Finally, a reminder: This episode was recorded on November 29, 2023. The information discussed is subject to change, and listeners should stay updated, especially with potential tax updates at the end of the year. We will update this information as it comes in, especially in the first quarter of 2024.
Resources mentioned in today's episode:
Financial Crimes Enforcement Network (FINCEN) Website: https://fincen.gov/
Beneficial Ownership Information (BOI) Page: https://fincen.gov/boi
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:15:50
Use the Buckets of Money strategy for retirement income
12/6/2023
In this episode of the "Protecting and Preserving Wealth" podcast, host Bruce Hosler and Jon Gay dive deep into the Buckets of Money strategy for retirement income. Amidst a backdrop of stock market volatility, geopolitical tensions, and inflation, Bruce presents the Buckets of Money strategy as a safeguard against Sequence of Return Risk—a serious risk retirees face when market downturns coincide with the early years of retirement.
Bruce breaks down the strategy into four distinct "buckets," each designed for a different period of one's retirement. The first bucket covers years 1-5 and is heavily oriented towards conservative fixed-income investments. Buckets two, three, and four progressively invest in riskier assets, aligned with the time when you'll need the money from those buckets. This design approach is to protect you against short-term market fluctuations while also providing an avenue for long-term growth to combat inflation.
One highlight of the episode is the concept of dividing one's IRA into two parts: an "income IRA" and a "growth IRA." This demarcation adds clarity, helping clients understand from which account they'll draw their immediate income and which one is for future growth. Such segmentation also acts as a psychological safety net, discouraging panic selling during market downturns.
As for the question on everyone's mind—what about taxes?—Bruce shares insights from his upcoming book, Moving to Tax-Free™. Predicting that tax rates could double in the next decade, he emphasizes the value of tax-free accounts like Roth IRAs. These should generally fall into buckets three or four, maximizing their potential as a hedge against future tax hikes.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:10:49
What Did You Learn About Money Growing Up?
11/15/2023
In this episode of the Protecting and Preserving Wealth Podcast, Jon Gay and Bruce Hosler discuss the importance of early financial lessons and their lasting impact. Bruce begins client relationships by asking them clients about their childhood money experiences, highlighting how these early lessons shape our financial behaviors.
Today, we explore how different family dynamics influence financial attitudes. Some families openly discuss money, while others keep it private. Jon shares his middle-class upbringing and how it influenced his budgeting approach, with his wife taking on a key financial role.
Bruce, drawing from his experience as a Boy Scout leader; explains the difference between saving and investing, emphasizing the importance of these distinctions for financial decision-making. He stresses the need to teach children and grandchildren about money from an early age.
The hosts encourage learning from financial mistakes and providing opportunities for young adults to make their own decisions, both wise and unwise. Encouraging young adults to secure an education and navigating the changing landscape of taxes.
This episode is a valuable resource for understanding how childhood financial lessons impact future financial choices. Bruce invites clients, prospective clients, and their families to seek guidance from Hosler Wealth Management to help your children or grandchildren form healthy financial habits sooner rather than later.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:21:11
Having a Will is Not a Complete Estate Plan
11/1/2023
In this episode of the Protecting and Preserving Wealth Podcast, host Bruce Hosler and Jon dive into the crucial topic of why having a will is only a partial estate plan - exploring the significance of beneficiary forms and their power in estate planning.
We begin by explaining the importance of beneficiary forms, emphasizing that they can override the instructions in your will or trust. Bruce highlights the various types of accounts that require beneficiary forms, such as 401(k)s, pension plans, IRAs, annuities, and life insurance policies.
You will hear Bruce cover the concept of cascading beneficiaries, where you can designate primary, secondary, and even tertiary beneficiaries. Bruce provides a practical example of how this can be used to ensure your assets are distributed as per your wishes, even in complex family situations.
Common problems arise when beneficiary forms are not updated, such as in the case of divorce or the death of a spouse. Bruce explains the legal implications and the importance of keeping these forms current. We stress the importance of coordinating your beneficiary forms with your overall estate planning documents, including wills and trusts. to avoid potential disputes and unintended consequences.
In conclusion, Bruce emphasizes the ease and importance of keeping beneficiary forms up to date. I talk about the 'second opinion' service offered by Hosler Wealth Management to help prospective clients navigate their estate planning and beneficiary designations.
Remember, estate planning is about ensuring your legacy is passed on as you intend, and understanding the power of beneficiary forms is a crucial step in achieving this goal.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:14:23
Switching Social Security Benefits
10/18/2023
Today, Jon Gay, Bruce Hosler, and Jason Hosler from Hosler Wealth Management discuss various aspects of Social Security benefits and switching strategies. They start by explaining the concept of switching benefits, which allows individuals to switch to a new benefit when they become entitled, especially if it is higher than their current benefit.
They emphasize that the Social Security Administration doesn't always notify people about switching opportunities, so individuals may not be aware of higher benefits available to them. You will hear an example of an expert who received a misleading letter from the Social Security Administration, highlighting the importance of understanding the rules.
The conversation goes into strategies for determining the best time to file for Social Security benefits, considering factors like health, life expectancy, and spousal benefits. Stressing the importance of using Social Security benefit planning software to explore various options and select the best strategy for each individual's situation.
They also discuss the advantages of filing for benefits online and provide advice on how to communicate your intentions clearly when dealing with Social Security offices. Not all Social Security workers have experience handling complex cases, so keeping the process simple can be beneficial.
Several switching opportunities are highlighted, including spousal add-ons, divorced spouse add-ons, and survivor benefits. These strategies can significantly increase the amount individuals receive in Social Security benefits. Still, they often require careful planning and knowledge of the rules.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:15:15
Estate Planning
10/4/2023
Today, Bruce and Jon are joined by Alex Koury, a wealth advisor with Hosler Wealth Management from the Scottsdale office, speaking about Estate Planning in this episode.
We delve into the critical topic of estate planning in a clear and straightforward manner. Bruce begins by emphasizing the essential role of a Will, especially for parents with minor children. A Will determines who will care for the kids in unforeseen circumstances, avoiding potential family disputes.
The conversation then shifts to the significance of beneficiary designations. These designations play a pivotal role in asset distribution, particularly for accounts like IRAs and life insurance, often taking precedence over what's outlined in a Will.
Bruce and Alex also shed light on recent changes affecting IRAs, notably the SECURE Act of 2019, which has altered the rules regarding IRA distributions. This change has significant implications for how these accounts are passed on to heirs.
Another key aspect discussed is the evolving role of life insurance in estate planning. Given recent tax law changes, life insurance is gaining popularity as a tax-efficient tool for wealth transfer. It's not just for the very wealthy anymore.
Alex stresses the importance of regular updates to estate planning documents to keep them aligned with life changes, warning against common mistakes, such as assuming estate planning is unnecessary or neglecting document updates, which can lead to unintended consequences.
Lastly, we cover planning for incapacity, focusing on durable financial and medical powers of attorney. These legal instruments ensure that someone can make critical financial and healthcare decisions on your behalf if you're unable to do so.
Please seek professional guidance for your estate planning needs. Ultimately, estate planning is about securing one's legacy and ensuring the well-being of loved ones, making it a vital but often overlooked aspect of financial planning.
For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/
Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.
For more podcast episodes, visit our podcast website at https://hoslerwm.com/protectingwealthpodcast/
Limitation of Liability Disclosures: https://www.hoslerwm.com/disclosures/#socialmedia
Copyright © 2022-2024 Hosler Wealth Management LLC, All Rights Reserved. #ProtectingWealthPodcast #ProtectingandPreservingWealthPodcast #HoslerWealthManagement #BruceHosler
Duration:00:13:09