After The Paycheck
Rubino & Liang Wealth Partners
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After The Paycheck is an informational & educational series that explores a wide range of topics aimed at helping people to and through their retirement. Presented by Rubino & Liang Wealth Partners
Available episodes
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May 19, 2021
Old 401(k) Options - The Pros & Cons of Each
When you change employers or enter retirement, you likely have four choices of what to do with your retirement account. Most of these steps will be the same whether your retirement account is a:
* 401(k)
* Profit Sharing Plan
* Cash Balance Pension Plan, 403(b)
* 457 retirement account
What are those choices, and what are the pros/cons of each choice?
In this episode of After The Paycheck, Ryan and Adam discuss the options you have with old retirement accounts and what are some factors you may want to consider before making the choice that is best for you.
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May 7, 2021
The Role Dividend Paying Stocks Play In Your Retirement Portfolios
Do dividend-paying stocks still play a role in retiree portfolios today?
In this episode, John & Adam discuss the cause-and-effect relationship dividend-paying stocks can have on your income in retirement.
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Apr 17, 2021
Missteps That Could Be Costing You Thousands in Retirement Drawdown Income
Sam and Adam discuss five tips for making a retirement income drawdown strategy, and also discuss other factors you need to consider, including:
* Your marital status
* Your savings
* Your life expectancy
* The kinds of retirement accounts you have
* What you think your expenses will be in retirement
So, before you start running to the Social Security office and filling out that paperwork on your 62nd birthday, take a moment to consider if it's in your best interest to start making those withdrawals as soon as you're eligible to do so.
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Apr 15, 2021
Myths Of Conventional Financial Wisdom
In this episode Ryan and Adam cover five common phrases/rules of thumb often repeated on the topic of retirement planning, and explore reasons why that phrase may or may NOT be a great fit for your retirement planning situation:
* Your Current Age Should Be The % Of Your Portfolio In Bonds
* The 4% Rule
* Taking Big Risks For Big Rewards
* Tax-Deferred Retirement Accounts Are The Best Way To Grow Your Retirement Savings
* Your Expenses Diminish in Retirement So Your Don't Need As Much Income
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Apr 1, 2021
Three Unexpected Challenges You May Face Heading In To Retirement
You may have heard this before, but if you think your retirement situation will be similar to that of your grandparents or parents, you may be in for a rude awakening.
In this episode, Sam and Adam discuss:
- WHAT these challenges are
- Why they might affect your retirement planning situation
- How you can address each challenge today
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Mar 14, 2021
Should Bonds Still Play A Role In Your Retirement Plan?
Since the evolution of the modern retirement plan, bonds have been used as a way to diversify portfolios, generate income, and preserve capital. The bond market is sometimes even used as a capital appreciation tool.
But with interest rates so low, is there still a role for bonds in today’s retirement portfolio? Traditionally, bonds were used in the past to mitigate risk while still providing yield to your portfolio, but are there other options for today’s environment?
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Feb 22, 2021
Healthcare Options In Retirement
One of the major considerations you'll need to take into account in retirement is figuring out your health insurance options.
Health insurance has become a very confusing topic of discussion, even for those who ARE still working.
But if you are nearing retirement and have questions, you are NOT alone, here are some recent submissions for topic suggestions for our After The Paycheck series:
* Karen K.: How do last year employment earnings affect insurance premiums for medical coverage (Part B or Part C)?
* Liz B.: Can I retire early, 62 or 63 and health care pre Medicare?
* Joe M.: What are my Medical insurance options when retiring prior to age 65?
* Bob D.: Health Insurance, long-term health insurance, medicare in retirement.
* Steve P.: Medical costs for a spouse who is too young for Medicare - How do you find the best info to make an informed decision on which plan to go with?
Add in all of the other things you are dealing with as you prepare for retirement, and health insurance options can quickly become a headache that you DO NOT want to deal with.
But, its important that you make the best choice for your situation so you aren’t stuck with something that you’ll regret.
This week's episode of After The Paycheck focuses on healthcare options in retirement
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Jan 24, 2021
You've Recently Inherited Money, Now What Should You Do?
If you’ve recently inherited money, you might be feeling a lot of emotions.
Losing a loved one is hard, and you need time to process the loss of your loved one, but an inheritance can improve your financial situation, help offer peace of mind, and it can also remind you of your loved one’s legacy and how much they cared for you.
Sometimes people who receive an inheritance don’t know how to properly manage it, so in this episode, Sam and Adam discuss:
- the types of inheritance you might receive
- your options for each type
- how you might want to think about your estate planning strategy going forward
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Dec 8, 2020
How Tax Planning Today Could Help Maximize Your Income In Retirement
When over 250 recent retirees were asked, in terms of expenses, what the biggest surprise was in retirement, do you know what the number one answer was?
Taxes.
While respondents overestimated the costs of healthcare in retirement, they tended to underestimate the expense of taxes.
And get this - "Despite the significant impact that taxes have on respondents’ income, a surprising portion of the retirees were unfamiliar with the specifics of their tax status."
If you've been working for 40+ years, there is a VERY high chance that you've had the "pleasure" to pay your share of taxes. So why is it such a surprise to recent retirees as to how much they end up paying in taxes when they enter retirement?
Because they didn't create a tax planning strategy to help minimize their taxable income in retirement.
So, in this episode of After The Paycheck, Ryan and Adam discuss reasons why taking the time to go over your tax planning situation NOW could be help maximize your income in retirement, and what your next steps should be:
- You might think you will be in a lower tax bracket in retirement, but that might not be the case if you're just withdrawing from your retirement accounts in a disorderly fashion or order.
- Tax laws change - sometimes the devil you know is better than the devil you don't. Tax rates MAY go up in the future, especially since we are at historic lows and we have a rising national debt. So if you are a few years away from retirement, how can you leverage today's low tax rates to protect your income in retirement?
- Why it is beneficial for you to plan out today what accounts your streams of income (SS, 401k withdrawals, Roth, cash-value life insurance, etc.) will be for 2021 (& beyond)
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Nov 17, 2020
Where To Start When Thinking About Your Retirement Income
Earlier this year we shared a post about The "Ostrich effect", which refers to the psychological tendency to avoid negative financial information by simply ignoring it (referring to how an ostrich sticks its head in the sand when it senses danger, thinking that this will prevent it from getting hurt).
If thinking about your retirement planning process fills you with a feeling of anxiety, you might try to avoid it altogether.
And while this behavior is understandable, it isn't exactly IDEAL for your present and your future self.
So, let's focus on helping you understand where to START when thinking about retirement and your income. Here are five step-by-step instructions for you to take to help you overcome that overwhelming feeling you might get when you think about your retirement planning process
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Nov 9, 2020
6 Financial Actions To Take Before The End of 2020
If you feel like someone took 2020 and tossed it in a blender, pressed start, and threw everything into chaos, you’re not alone.
You’ve likely experienced many canceled plans, work adjustments, complicated family decisions, and (as if that weren’t enough) some financial challenges.
We don’t know what the near future will bring in regards to COVID-19, the local economy, and the markets.
So, the question becomes, How do you prepare for retirement when there is so much unknown?
How can you look ahead to 2021 when you don’t even know what next week will bring?
Here are 6 financial actions that could make all the difference as we near the end of 2020.
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Oct 26, 2020
Unexpected Risks To Your Retirement Plan
What comes to mind when you imagine something wiping out your retirement savings? A personal tragedy? A natural disaster? Maybe a recession?
There’s no doubt that these events could significantly impact your portfolio, but they are largely out of your control. The real dangers to your retirement plan are the little-known and often ignored threats that could cause you to lose what you have diligently worked for.
Here are 5 ways you could run into retirement trouble and how to help prevent them from derailing your retirement finances.
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Oct 19, 2020
Why Your Retirement Portfolio Needs To Change In Retirement
What’s your goal, financially speaking, for retirement? Most likely, its to make sure you have enough money to last through your years in retirement while living the lifestyle you planned for.
It sounds pretty straightforward, right?
Where it gets complicated is negotiating between two equally valid but CONFLICTING concerns with your money in retirement:
the need for safety and principle preservation (you aren’t adding any more paychecks in to your retirement accounts...),
and the need for growth to hedge inflation & other unexpected costs during life in retirement.
How do we balance these two conflicting concerns?
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Oct 6, 2020
What Happens If You Retire Right Before A(nother) Market Crash?
Imagine this scenario; you've worked your entire life, but you're ready to retire. So you retire with what you think is the perfect portfolio to get you through your retirement, but then the market takes an unexpected turn. What COULD that mean for your retirement situation? There are a couple of different scenarios we're going to play out as Sam Liang and Adam Blye discuss on this episode of After The Paycheck
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Sep 28, 2020
Thinking You Should Delay Your Retirement Date? Consider This...
Has {motions at everything happening in the world right now} have you thinking about pushing back your ideal retirement date?
If so, you aren't alone, people are feeling less confident now about how much they are saving for retirement, (Only 46% confident today compared to 58% prior to the pandemic)
And a landmark study released in August found that 39% of American workers, some 68 million in all, are changing the timing on when they plan to retire.
But is simply holding off your retirement date the best way to help improve your chances of a successful retirement?
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Aug 25, 2020
Should You Take Social Security Early?
What are some scenarios where a person would want to start taking social security benefits before full retirement age? In this episode of After The Paycheck, John and Adam cover:
- three scenarios in which a person may want to claim their social security benefits early
- what could be viewed as one HUGE con to those who do take their benefits too early
- a few examples of how there may be alternatives to how you look at your retirement income plan to make sure you are maximizing the benefits that you receive from social security!
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Aug 18, 2020
How Your Retirement Plan Could Benefit From Charitable Donations
Donor Advised Funds and Qualified Charitable Distributions are two ways that you can maximize your philanthropic impact, while benefiting from tax advantages that may help you in your retirement planning process.
Who would benefit from creating a DAF or a QCD? If you are someone who is thinking about their retirement planning needs and has ever thought and of any (or maybe ALL) of the following:
"I'm thinking about my retirement, and I would like to spend more time giving back in the future" "I want to leave behind some sort of personal or family charitable legacy" "I'm always looking for ways to reduce my taxes"
Then setting up a DAF or QCD may be of interest to you - neither of these are REQUIRED to be part of your retirement planning process, but as your concerns and/or lifestyles change in retirement, you might be motivated to make some changes to your retirement plan and it is always good to know that this is an option.
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Aug 4, 2020
Choosing Your Distribution Method in Retirement
Have you considered these factors to understand how much you'll need in retirement:
How long will you be retired for? (Are you planning to retire at 60, and live to age 80? What happens if you make to 81, 82...83???)
What are inflation numbers going to look like when you retire - or 5 years, 10 years, or more in to your retirement?
Are you confident that you'll be able to live off the interest that your retirement accounts will generate in retirement? (There's no way another 2001, 2008, or March of 2020 will happen again...right?!?)
In this episode of After The Paycheck, Sam and Adam focus on determining what the best options of withdrawing money from your retirement accounts should be when considering these issues
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Jul 28, 2020
How Different Markets May Have An Effect on Your Retirement Accounts
Why are there different "markets" discussed in the news, and how do they pertain to people's ACTUAL retirement accounts?
What does it mean for you today if you are:
- in cash
- left your portfolio alone
or if you went to a more conservative mix in your portfolio?
In the episode, Ryan and Adam discuss:
- What are the different types of “markets” the financial industry professionals refer to for economic & financial growth (S&P 500, NASDAQ, Dow Jones)
- How these markets may or may not have an effect on your specific retirement accounts
- Why understanding this information will help you in your retirement planning journey
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Jul 21, 2020
Navigating Job Loss When Close To Retirement
In this episode of after the paycheck, John Conley and Adam discuss a few hypothetical situations and what to do if you are in one of these situations:
- You HAVE been let go from your job and were planning to retire in the next 5 years
- Your company offers you a pension buy out today, but you were hoping to work for another 3-4 more years
- You want to know what are some things to do TODAY to help shield yourself from a sudden loss of income in the future
Navigating job loss when nearing retirement
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Apr 14, 2020
Withdrawing From Retirement Accounts In A Bear Market
What To Watch Our For When Withdrawing From Retirement Accounts In A Bear Market
In this episode of After The Paycheck, Adam speaks (remotely) with Sam Liang to discuss how the current market volatility may be effecting your retirement accounts - and if you are withdrawing from those accounts (or are about to start withdrawing) what are some concerns you should be aware of (Enter: Sam's definition of sequence of returns risk).
Discussed in this episode:
What is Sequence (of Returns) Risk?
Who is likely to be effected by sequence of returns risk?
If I am (10 years out from retirement, 5 years from retirement, about to retire, been retired and currently withdrawing), what are my options to help avoid being effected by a market downturn?
What are the pros/cons of these options?
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Mar 30, 2020
Organizing Your Retirement Accounts To Help Probability of Success in Retirement
In this episode of After The Paycheck, Adam speaks with John Conley to discuss how financial advisors calculate a person’s “probability of success” in retirement (how likely they are to make it through their retirement situation without running out of money) and what are some factors one should consider as they prepare to withdraw from their retirement accounts.
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