Retirement Answers

👉 Book a call with me 👉 https://www.rivertreewealth.com/get-started__________________________________✅ If you want the Important Numbers 2025 PDF, send me an email!Email: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeSocial Security taxation is confusing for most... "Am I being taxed on my Social Security benefits?" "WHY am paying tax on my Social Security?" "How is Social Security tax calculate?" These are the common questions retirees have and I answer them in this episode.Jacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

In this episode of the Friday Q&A, Jacob discusses a listener's dilemma of choosing between taking a lump sum or opting for a monthly pension in retirement. With a detailed inquiry involving health concerns, survivor benefits, and financial flexibility, the discussion delves into various factors such as fixed income, monthly expenses, Social Security benefits, and personal circumstances like employment status and legacy planning.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

Still trying to figure out when you are going to retire? Do you have a specific age in mind? It can be hard to decide and then actually go through with it because of the unknown and the "what-ifs" of retirement. But the biggest "what-if" in my opinion isn't what could go wrong in retirement... The biggest "what-if" is getting to the end of your life wishing you would have retired sooner so you could enjoy more time with your family or go on your dream vacation while you had the health.In this episode, I share 4 reasons why you should think about retiring TODAY.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

In this Friday Q&A, we tackle a common question from a soon-to-be retiree who is anxious about taking the leap into retirement despite strong financial standing. Discover the psychological challenges and mindset shifts necessary for a smooth transition into retirement.Need help planning for retirement? 👉 Get started today: https://www.rivertreewealth.com/get-started---------------------------Website: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.🔔 Subscribe to the channel and press the bell icon so you never miss a video!DISCLAIMER: This video is not meant to be taken a tax, legal, or investment advice. All content is for educational purposes only.00:00 Introduction00:12 Today's Question00:30 Financial Overview01:24 Psychological Aspects of Retirement02:34 Advice for a Smooth Transition05:25 Encouragement

When you turn 73 or 75, you will be required to begin taking money from your tax-deferred IRAs, 401ks, 403bs, etc. This is through what is called Required Minimum Distributions (RMDs).While RMDs aren't the worst thing ever, they can create some tax issues in the future if you don't plan accordingly. In this epsiode, I share 5 ways you can lower your RMDs to minimize their negative tax impact in the future.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

In the first episode of the Friday Q&A series,I address a viewer's question about whether to pay off their house before retirement. The husband is close to retirement and considers using his ESOP to pay off their recently purchased home. I discuss the pros and cons of this decision, including tax implications and the importance of maintaining liquidity.The episode offers valuable insights for anyone contemplating similar financial moves in the context of retirement planning.

One of the biggest factors in your ability to retire is whether or not you have debt. If you have no debt, retirement becomes that much easier. BUT does that mean you should pay off your mortgage before retirement at all costs? That's what I discuss in this episode.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

"The market is at all-time highs! We are due for a recession! I'm going to wait for the next pullback..."These the statements we all tell ourselves, but we shouldn't follow our own hunches and opinions. This week, I am talking through a framework that you can use to help answer the question, "Is now a good time to buy stocks?"———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

Most people only think about the money side of retirement. Do I have enough? When should I start Social Security? Which account should I pull money from first?These are all important questions, but the personal and emotional side of retirement often gets overlooked because the financial questions are top of mind. I encourage you to ask yourself, "What are you retiring to?" You know what you are retiring from, but having a game plan for what you are going to do in retirement is crucial so you don't end up lonely, sad, and hating what is supposed to be a wonderful period of life.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

Trying to figure out when you should do Roth conversions? In this episode, I share the optimal times to do Roth conversions so that you get the most out of this important tax minimization strategy.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

How aggressive or conservative you should invest your money in retirement is a constant question in retirees' minds. How much risk should I take? Should I just use a standard 60/40 portfolio? How much cash should I have on hand?In this episode, I address this common question and provide a framework you can use to determine how much cash you should have in retirement based on YOUR unique situation.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

IRMAA stands for Income Related Monthly Adjustment Amount. In short, it is a surcharge that can be added to your Medicare Part B & D premiums IF you earn to much money.I talk about IRMAA here on the podcast and with my clients because it is something we have to pay attention to so that it doesn't catch us off guard, but I feel like many view IRMAA as something you MUST avoid.In this episode, I share a brief overview of IRMAA and tell you why you shouldn't avoid IRMAA at all costs. In fact, going over the IRMAA income limits intentionally, could lead to thousands of dollars of savings.Shoot me an email if you don't already have a copy of the 2024 Cheat Sheet.———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

Having a Roth IRA in retirement can be very powerful. It allows you to make tax-free distributions for retirement income and gives you flexibility around your tax brackets...But I've noticed one thing. I/we as financial planners often suggest taking from your Roth IRA last for income in retirement so it has more time to compound tax-free. While this is often a good idea mathematically, I have been asking myself this question: "Everyone is told to save to a Roth IRA so they have tax-free income in retirement, but when they get to retirement they are told not to spend from their Roth IRA. What's the point of having a Roth IRA if you aren't going to use it??"In today's episode, I talk through this question and share 6 reasons you would spend your Roth IRA earlier in retirement. Enjoy!———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

It's not secret that sudden market declines can cause fear and anxiety in investors' minds. Recently, we've seen some volatility enter the markets and you might be wondering if you should make any changes to your portfolio.In this episode, I provide a framework and steps you can follow to navigate the emotions and uncertainties market volatility throw at us.If you'd like an example of the Retirement Income Buckets, shoot me and email and I will send it right over!———————————————————————————Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedEmail: jacob@rivertreewealth.comWebsite: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This should not be taken as tax, legal, or investment advice. All content is for educational purposes only.

Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedI've seen a common theme in almost every portfolio review I have done lately for prospective clients... I share that investing mistake and 4 others with you in this weeks episode!———————————————————————————Website: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This video is not meant to be taken a tax, legal, or investment advice. All content is for educational purposes only.

Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedTax planning is a huge part of building a successful retirement plan. You often hear about Roth conversions or tax-loss harvesting, but there is a simple way that EVERYONE can reduce there taxes each year... ASSET LOCATION.———————————————————————————Website: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.DISCLAIMER: This video is not meant to be taken a tax, legal, or investment advice. All content is for educational purposes only.

Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedRequired Minimum Distributions (RMD) aren't the worst thing in the world, but they could force you to pay taxes you don't want to pay. In this episode, I share 5 ways to reduce your RMDs and take back control of your tax bill in retirement.———————————————————————————Website: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.🔔 Subscribe to the channel and press the bell icon so you never miss a video!DISCLAIMER: This video is not meant to be taken a tax, legal, or investment advice. All content is for educational purposes only.

Book a free consultation to get started today 👉 https://www.rivertreewealth.com/get-startedNot sure where to pull income from first in retirement? It can be a overwhelming to figure this out because of the impact your distributions have on other items in retirement such as Social Security taxes, RMDs, Medicare Premiums, and more.This week on the podcast I share some ideas around how to decide where to pull income from first in retirement.———————————————————————————Website: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.🔔 Subscribe to the channel and press the bell icon so you never miss a video!DISCLAIMER: This video is not meant to be taken a tax, legal, or investment advice. All content is for educational purposes only.

Today, I'm sharing 7 reasons you shouldn't do Roth conversions... I hear about far too many people who are trying to do Roth conversions, but they shouldn't be doing any at all. Yes, Roth conversions are a power tax planning strategy for retirees, but it's not the best strategy for everyone.Creating a comprehensive plan that is unique to your situation is key. Don't just do Roth conversions because it's what everyone is talking about!———————————————————————————Website: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.🔔 Subscribe to the channel and press the bell icon so you never miss a video!DISCLAIMER: This podcast is not meant to be taken as tax, legal, or investment advice. All content is for educational purposes only.

Need a custom retirement plan? 👉 Get started today: https://www.rivertreewealth.com/get-startedWondering if you have enough money saved up to retire comfortably in 2024? In this video, I provide a framework you can use to evaluate how much you need to live a worry-free retirement.———————————————————————————Website: https://www.rivertreewealth.comLinkedIn: https://www.linkedin.com/in/jacobdukeJacob Duke, CFP, MBA is the founder of Rivertree Wealth and the host of the Retirement Answers podcast.🔔 Subscribe to the channel and press the bell icon so you never miss a video!DISCLAIMER: This video is not meant to be taken as tax, legal, or investment advice. All content is for educational purposes only.