The Get Ready For The Future Show

In what order should we draw down accounts prior to Social Security and after work? On this week's Get Ready For The Future Show, we're answering YOUR questions! We are wondering how to decide which account to fund more? 401(k) or Roth IRA? What are your thoughts on Tax Rates and Standard Deductions changing in 2026? I'm nearing age 55 and am trying to decide if should I start paying down my mortgage more aggressively? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 4/24/2024

In this week's Fastest 4 Minutes in Finance, discover how robust earnings growth continues to drive the stock market's performance, defying fears over interest rates, inflation, and geopolitical instability.

Do I need to max out catch-up contributions, or will I be okay holding steady with my normal contributions? On this week's Get Ready For The Future Show, we're answering YOUR questions! Would it be good for my savings to retire but keep working maybe part-time? Would I be ok in retirement if the only thing I do is max out my Roth IRA every year moving forward? I'm retired now and my wife will be next year. What’s the best withdrawal strategy for us? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 4/17/2024

Investing in stocks is a rollercoaster ride, and April's market turmoil serves as a timely reminder that pullbacks are inevitable. In this week's Fastest Four, Scott's drawing wisdom from market strategist Ryan Detrick as he explores the historical data that proves significant pullbacks are not only common but expected in an average year.

I'm thinking about retiring next year, so what should I do before I leave work? On this week's Get Ready For The Future Show, we're answering YOUR questions! When should I claim Social Security? As early as possible? What should I ask when meeting a financial advisor? And what should I watch out for? Is it a smart play to invest in Variable Universal Life? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 4/10/2024

Inflation data for March sparked alarming headlines, but is it really as bad as it seems? In this Fastest Four, learn why the 0.4% monthly increase and 3.5% annual inflation rate aren't drastically higher than expectations!

If I received a decent chunk of money, such as $25,000, what would be the most efficient way to invest? On this week's Get Ready For The Future Show, we're answering YOUR questions! What are your thoughts on gold IRAs? What should we do about taking care of a parent who's in retirement when we want to retire in our mid-50s? How should I invest extra cash I'm likely to use in the next 10 years? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 4/3/2024

In this week's Fastest Four Minutes in Finance, get ready to maximize your retirement savings with last-minute IRA contributions before the 2023 tax filing deadline on April 15th. Whether you're a high earner or have a spouse with earned income, Scott guides you through the strategies to supercharge your retirement savings while potentially reducing your tax burden.

Should I be worried about a housing crash in 2024? On this week's Get Ready For The Future Show, we're answering YOUR questions! I inherited $350k in checking accounts - do I have to pay taxes on that? At 62 and $1 million in a 401(k), should I be converting that to a Roth IRA? Do I need to invest more if my government pension looks like it would meet my retirement needs? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 3/27/2024

In this episode of The Fastest Four, Scott discusses the futility of relying solely on economic predictions for investment decisions. He highlights how even amid dire predictions during the pandemic, the S&P 500 Index has delivered a remarkable 133.9% cumulative return since March 2020. Learn why keeping a cool head and sticking to your investment strategy can help you navigate market fluctuations and reach your financial objectives, regardless of predictions.

What should be our strategy so my husband and I can travel in retirement, live comfortably, and leave a good sum to kids and grandkids? On this week's Get Ready For The Future Show, we're answering YOUR questions! I know LTC (long-term care) coverage is expensive, but should I get it anyway? What's the difference between a fixed and variable annuity? What are the parameters for backdoor Roth contributions? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 3/20/2024 Disclosures: All investing involves risk including loss of principal. No strategy assures success or protects against loss. Diversification does not protect against market risk. Fixed and Variable annuities are suitable for long-term investing, such as retirement investing. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to age 59 ½ are subject to a 10% IRS penalty tax and surrender charges may apply. Variable annuities are subject to market risk and may lose value. Riders are additional guarantee options that are available to an annuity or life insurance contract holder. While some riders are part of an existing contract, many others may carry additional fees, charges and restrictions, and the policy holder should review their contract carefully before purchasing. Guarantees are based on the claims paying ability of the issuing insurance company. Contributions to a Roth vehicle offer tax deferral on any earnings in that account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply.

Is the US stock market more "top-heavy" than in a century? With the 10 largest stocks comprising 33% of the S&P 500's value, some analysts predict a major correction, though historical data suggests concentrated markets often lead to strong returns. Don't miss these expert insights on reading the top-heavy market signals, avoiding emotional investing mistakes, and staying on track toward financial independence through bull and bear markets.

How could a part-time job or side gig impact my retirement plan? On this week's Get Ready For The Future Show, we're answering YOUR questions! When should I look at when claiming Social Security? How do I know if I'm saving enough? I thought I was okay, but what if there's another big market downturn? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 3/13/2024

In this week's Fastest Four, we explore the fascinating relationship between the stock market and presidential elections. Discover how the market typically performs during election years, whether the incumbent's party matters, and what the current market trends suggest about the upcoming Biden-Trump rematch. Learn valuable insights from historical data, including the impact of Super Tuesday results and how the market has reacted to each candidate's probability of winning. Don't miss this insightful analysis on navigating your investments during this pivotal election year. Stay informed and make data-driven decisions for your financial future.

I'm 51 and have $750k with an advisor, but I don't really have a plan and I'm worried I don't have enough! On this week's Get Ready For The Future Show, we're answering YOUR questions! I have NO idea where I stand when it comes to retirement. How do I get things in order and figure that out? After inheriting nearly a million dollars in an IRA, do you have advice for taxes and getting it out in 10 years? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 3/6/2024

Are you concerned about the future of Social Security and whether it will be available for you in retirement? We've got insights on the "You Earned It, You Keep It Act" – a proposed legislation to eliminate federal taxes on Social Security benefits.

I'm 54 and recently divorced. What should I be doing with my money? On the Get Ready For The Future Show, we're answering YOUR questions! My company switched to a Cash Balance plan. Should I invest less in bonds in accounts I control? Should we roll over large amounts into a Roth for the next 20 years? Does my wife, a full-time mom, also need life insurance? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 2/28/2024

A new survey reveals Americans know shockingly little about Social Security and their retirement income plans. 41% flunked a Social Security quiz, getting less than 55% correct. Only 20% say their plans account for inflation/market volatility. 63% think their retirement income will run out in 20 years or less. We're walking you through the key takeaways from the survey and how to right the ship in this week's Fastest Four Minutes in Finance.

My wife and I are looking to hire a financial advisor. Should we move around our investments first? How do you know when it's time to switch from Roth contributions to pre-tax? I have $2 million in savings, but how do I know if it's enough to maintain my lifestyle in retirement? We're answering YOUR questions! And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 2/21/2024

Don't believe the recession hype! New data shows consumers are feeling more confident about their finances than they have in years. In this episode of Fastest 4 Minutes in Finance, Financial Advisor Scott Inman breaks down the latest University of Michigan Consumer Sentiment survey.