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Big Picture Retirement

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If you are planning for, or living in, retirement…this is the show for you. Understanding the big picture is critical for a successful retirement. Whether or not your retirement is a success may depend on how well you planned when connecting the dots of your legal, tax and financial plan. In this show, we’ll dig beneath the surface and discuss how you should apply this planning with your hosts- attorney John Ross and financial planner Devin Carroll.

If you are planning for, or living in, retirement…this is the show for you. Understanding the big picture is critical for a successful retirement. Whether or not your retirement is a success may depend on how well you planned when connecting the dots of your legal, tax and financial plan. In this show, we’ll dig beneath the surface and discuss how you should apply this planning with your hosts- attorney John Ross and financial planner Devin Carroll.
More Information

Location:

United States

Description:

If you are planning for, or living in, retirement…this is the show for you. Understanding the big picture is critical for a successful retirement. Whether or not your retirement is a success may depend on how well you planned when connecting the dots of your legal, tax and financial plan. In this show, we’ll dig beneath the surface and discuss how you should apply this planning with your hosts- attorney John Ross and financial planner Devin Carroll.

Language:

English

Contact:

903-793-4014


Episodes

#050: Can You Have Too Much Cash? and Planning For The Things You Hope Don’t Happen

12/11/2017
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Stacey’s financial advisor recommended 3-6 months of living expenses be in cash. She asks us how much she really needs. Ron from Portland wants to know what to do with his personal trust now that the beneficiaries are responsible adults. Does he still need this estate planning tool, or can he just have the trust terminate at his death? For more, go to http://www.bigpictureretirement.net/050

Duration: 00:24:54


#049: How Millionaires Handle their Money, with Joe Saul-Sehy

12/4/2017
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People who are millionaires have respect for a dollar, and they cut expenses that don’t add value to their lives. Joe Saul-Sehy was a financial planner for 16 years, and he has observed some interesting things about how millionaires handled their money. He says it’s not discipline, it’s about seeing something good that happens, then making it automatic. For more details, go to the show notes at http://www.bigpictureretirement.net/049

Duration: 00:31:12


#048: Steps To Take Before The End of The Year

11/27/2017
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Things You Should Do Before The End Of The Year: There are a number of things you could do in the next few weeks to properly wrap up 2017. How do you decide which items to prioritize? Devin and John cover things they think you need to do before the end of the year. For more details, visit http://www.bigpictureretirement.net/048

Duration: 00:22:51


#047: The Trump Tax Plan

11/20/2017
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Congress is moving fast through the process of changing our tax code. There are still lots of details to be ironed out, but one of the major provisions is a cut to the corporate tax rate. There is also a proposal to cap the tax rate on pass-through business entities - which may reduce the amount of taxes paid by small businesses. There are also many parts of the proposals that will impact individuals. More can be found at http://bigpictureretirement.net/047

Duration: 00:31:59


#046: Is A Reverse Mortgage Right For You?

11/13/2017
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A reverse mortgage is an agreement that a bank or other financial institution will loan you money against the value of the house, and you don’t have to repay that money until the property transfers ownership, often due to death of the homeowner. There is lots to be said about reverse mortgages. If you want more information, go to our show notes at http://www.bigpictureretirement.net/046

Duration: 00:39:29


#045: Post-Retirement Work, and Social Security Disability Benefits

11/6/2017
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Devin and John explore the different ways that working can affect your Social Security benefit. Then John explains how and why a child may be eligible for Supplemental Security Income (SSI) when the father was covered under a teacher’s retirement program and did not pay into Social Security. For more details and resource, visit http://bigpictureretirement.net/045

Duration: 00:24:43


#044: Psychology, Passive Income, and Your Freedom Number With Clayton Morris

10/30/2017
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Clayton was shaped by the money experiences of his childhood, particularly his father’s job loss. After some financial challenges, Clayton and his wife decided to figure out how to build an income that isn’t tied to their jobs working for someone else. They decided to buy rental properties to create income to cover their monthly income needs, what Clayton calls his “freedom number.” Highlights include: The importance of figuring out how much money you need each month How real estate...

Duration: 00:29:38


#043: Digging Deeper Into Medicare, and Donut Holes

10/23/2017
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Part 2 of a series about Medicare. This time Devin and John tackle the costs of Medicare Part B, then go into Medicare D (prescription drug coverage). It’s important to understand how Medicare Part D work – it can be a little tricky. For more information, visit the show notes at http://www.bigpictureretirement.net/043

Duration: 00:27:59


#042: What Medicare Covers, and What It's Going To Cost

10/16/2017
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Understanding Medicare is an important part of your overall retirement planning, but it's so confusing and complicated! Devin and John share the different parts of Medicare and what they cover. More information can be found at http://www.bigpictureretirement.net/042

Duration: 00:34:23


#041: Does Your Debt Die When You Do?

10/9/2017
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Devin and John answer listener questions you've sent in. Arlene wants to know what happens to her debts after she dies. John guesses she is probably asking whether her children will be responsible for those debts. It’s a good question! The short answer is no, but, of course, there is a longer answer. Then Jay wants to talk about a purchase he wants to make. It might be a little extravagant, and his financial advisor is against the purchase. Both Devin and John have seen both sides of...

Duration: 00:29:54


#040: Keeping it Simple with Doug Goldstein

10/2/2017
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Chess involved both strategy and psychology - much like investing! Doug Goldstein, author of RICH AS A KING: How the Wisdom of Chess Can Make You a Grandmaster of Investing, joins Devin in a discussion about the way chess strategies can be applied to your personal finances. For the show notes, go to http://www.bigpictureretirement.net/040

Duration: 00:20:39


#039: Planning Your Digital Afterlife

9/25/2017
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Most of us have a whole world of digital stuff out there, and some of it is important. You need a plan for how your survivors will access these accounts, whether you are disabled or dead. As our world becomes more and more digital, it becomes more important that your survivors, heirs and executors can access certain online accounts. This may include bank accounts, email, electronic document storage, insurance policies, and many other types of accounts. Find more information and resources...

Duration: 00:28:37


#038: Protecting Your Assets From Lawsuits and Other Liabilities

9/18/2017
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If you've put together a little bit of money, or you have a regular stream of income, it's reasonable to be concerned about protecting those assets from lawsuits or other types of liability. Today, John explains some of the simple steps you can take to put some protections about the money that you have. First, consider what type of liability you might face. Second, consider what assets might be at risk. Third, check out your insurance coverage. Fourth, separate your business assets from...

Duration: 00:30:49


#037: Designating Your Representatives, and Picking Stocks

9/11/2017
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Devin and John talk about assigning people to act for you, and picking good stocks for your investments. First, Brenda has a question about naming a successor trustee for a trust she has set up. In many kinds of legal and estate planning documents, you need to designate someone to act on your behalf. John explains the four options for naming those folks. Next, Chris asks how to pick better stocks and stop losing money in the stock market. Devin shares that despite his skills and the...

Duration: 00:24:23


#036: All About Bonds with Dr. Brandon Renfro

9/4/2017
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Dr. Brandon Renfro, a PhD in behavioral economics, talks about bonds: When they're right for you and when they should be reconsidered. Brandon does a great job of explaining different types of bonds, why they are considered a good investment, and how our current low interest rate situation changes the value of bonds as part of your portfolio. For more information, visit http://bigpictureretirement.net

Duration: 00:30:44


#035: Why Social Security is Important for YOU (even if you're not close to retirement)

8/28/2017
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Social Security is an important source of income for older Americans, but it can also provide many benefits beyond retirement income. Life is full of risks, and Social Security helps provide some income for those who have faced these situations. Think about these statistics: As you can see, understanding Social Security benefits is an crucial part of your overall financial planning. Today, Devin and John talk about the non-retirement benefits provided by the Social Security program, and...

Duration: 00:18:14


#034: How to Avoid a Bernie Madoff-Type Scam

8/21/2017
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There are few things worse than getting involved in a financial scam. Unfortunately, there are always some people who will abuse their professional status, and use their knowledge to rip people off. How can you avoid being scammed? Things to look for in a financial advisor: Things to look for in a legal advisor: Do you have a question for a future Listener Questions episode? Submit it to questions@bigpictureretirement.net

Duration: 00:32:49


#033: Giving IRA Money to Charity, and Remarriage & Social Security

8/14/2017
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Listener Questions: Rob asks about sending the distributions from an Individual Retirement Arrangement (IRA) to a charity. John discusses a couple of different scenarios and explains the possible tax benefits. He also includes ideas for some more advanced strategies for charitable giving so you can support your favorite charities even after death. Then, Rosa wants to know about continuing to get Social Security survivor benefits from a former spouse, even if she remarries. This is a...

Duration: 00:17:29


#032: Why Women Need Better Financial Advice with Russ Thornton

8/7/2017
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Women often have different financial needs than men, and even more when there has been a change in their marital situation. This week, Devin and John talk with Russ Thorton of Wealthcare for Women. Russ works with financial planning for women, with a particular emphasis on women in transition. Whether through death or divorce, newly single women may need special advice and expertise to move forward financially. Highlights include: Where you should start figuring out your money: where...

Duration: 00:23:59


#031: Veterans - Are you getting ALL your benefits?

7/31/2017
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Many current retirees have a background of military service. Benefits from military service can become a big part of the retirement planning picture, but it can be hard to know what benefits are available and how you can use them. In this week's episode, Devin and John talk about military-related benefits and how to get information about them. You can break down most military benefits into one of three categories: retirement benefits, service-connected disability benefits, and non-service...

Duration: 00:35:24

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