Beste Lucia Capital Group podcaster (2024)

1
Here's One More Tax Move to Make Before 2025 39:04

11d ago39:04

39:04

We're nearing the end of the year, and while there's not a whole lot left that you can do to perhaps improve your tax situation for this year, there actually is one more thing you may be able to accomplish before 2025. It's called a QCD - or Qualified Charitable Distribution. If you're at least 70 1/2 years old, and you're charitably inclined, this…

1
Is This a Good Time for Roth Conversions? 38:12

18d ago38:12

38:12

Today we're asking the question that we posed to our listeners at the beginning of 2024: Is this a good time to do your Roth conversions? There are reasons for doing them at the end of the year, just as there are also sound reasons for waiting until the new year begins. What it all comes down to is whether or not you know your tax situation for the…

1
Why the Wrong Withdrawal Strategy Can Be Disastrous 38:33

25d ago38:33

38:33

Building a nest egg is relatively easy if you're both consistent and patient. Regular contributions over time can lead to compounded growth, which may give you the amount of money you need to live on. But while building a savings can be easy, keeping it from running out is a whole other challenge. How you take withdrawals from your savings once you…

1
Let's Do an Actual Bucket Strategy! 39:37

1M ago39:37

39:37

Regular listeners to this podcast know that we talk a lot about a Bucket Strategy, and why we so firmly believe in it. But it's important to note that we're not just referring to any bucket strategy - rather we like to refer to it as THE Bucket Strategy®. To us, it's not as simple as dividing up assets into three segments and then calling it a day.…

1
Asset Location - The Hidden Gem of Tax Management 38:43

1M ago38:43

38:43

There's a well-known topic in the investing world known as Asset Allocation which is primarily about deciding which asset categories you should own – stocks, bonds, CDs, alternative investments, etc. It's an important part of building your portfolio. But there's another, equally important part that doesn't get talked about nearly enough: Asset Loca…

1
How Much Can You "Safely" Withdraw From Your Portfolio? 39:22

2M ago39:22

39:22

Most people, by the time they reach retirement age, have a certain amount of money saved up that they'll need to tap into from time to time. Problem: that money may need to last a lifetime, and because you don't know how long you'll live, you have no idea how much is "too much" to take out. You' re going to require a certain amount of money to meet…

1
Do Not Confuse Volatility With Risk! 37:22

2M ago37:22

37:22

When the stock market behaves erratically, it can create a lot of fear and anxiety among investors. Large swings to both the up and down side are what is known as volatility, and, like turbulence in an airplane, it can make people jittery and prone to making rash moves. Stocks are always volatile in the short run. But stock market investing should …

1
Building Wealth vs. Keeping Wealth 37:23

2M ago37:23

37:23

It's a fact that many people are not aware of: your wealth accumulation strategy should be vastly different from your wealth distribution strategy. In fact, they require very nearly opposite skills. Building your nest egg requires you to use the market volatility to your advantage, using various means like dollar cost averaging and buying through t…

1
Which Assets Belong in Each Bucket? 35:48

2M ago35:48

35:48

The Bucket Strategy® is both simple and complex. It’s simple in the sense that there’s a short-term, midterm, and long-term bucket, and maybe a couple of others, depending on your needs. The complexity begins when you need to determine which assets should go into which buckets. There are many things to consider: time frame, taxability, income needs…

1
Is It Really Better to Own More Stocks in Retirement? 35:27

2M ago35:27

35:27

If stocks are inherently risky, and if you're retired and you're risk-averse, doesn't it make sense to lessen your exposure to the stock market as you get older? That's the logic behind certain "rules of thumb" that say the older you are, the less money you should have in stocks. But that logic is faulty. It assumes that everyone's situation is the…

1
What's the Best Age to Take Social Security Benefits? 33:32

3M ago33:32

33:32

Social Security retirement benefits are the bedrock of guaranteed income for most American retirees. It forms the income basis that helps to build the rest of your portfolio's withdrawal strategy. So it makes sense to ask the question: at what age should I begin taking my retirement benefits? Everyone eligible for benefits has a "full retirement ag…

1
Six Financial Lessons Everyone Should Know 36:59

3M ago36:59

36:59

Very few things in life are universal, especially when it comes to finances. What’s right for one person may be completely wrong for another. Yet there are certain lessons with money that everyone could benefit from knowing, no matter what a person’s individual circumstances may be. After careful review, we’ve narrowed them down to six. What are th…

1
Should You Pay Cash For a Home, Or Get a Mortgage? 36:42

4M ago36:42

36:42

You may have noticed that real estate prices have been ticking up at a steady rate for the past several years. For many people, that means they have no choice but to take out a mortgage. At the same time, there are those who have either enough current gains or enough cash on hand to consider buying a home with cash. Having the cash to pay for a hom…

1
Roth, Personal, or IRA Funds: Which Should You Spend First? 36:21

4M ago36:21

36:21

Once you hit retirement, you'll probably have money in several types of accounts: a 401(k) from work, some personal money in a brokerage account, your regular checking account at the bank, and maybe some Roth IRAs, to name a few. Once it's time to start withdrawing that money, the important question you should ask yourself is this: from which accou…

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IRA vs. 401(k) - Which Is Better? 35:52

4M ago35:52

35:52

There are many ways to save for retirement. Two of the most popular are the 401(k) and the IRA. Both are savings vehicles, but both have different attributes that may make one of them better for you. There are advantages and disadvantages to both. Do you need a tax break now? Are you able to deduct contributions to an IRA? Does your company have a …

1
What Percentage of Stocks Should You Own in Retirement? 35:51

4M ago35:51

35:51

You may have heard that stocks are too volatile for retired people to own. In fact, there’s an old rule-of-thumb formula that says you should decrease your stock holdings by 1 percent every year and replace them with bonds. These generic “guidelines,” though, are hardly prudent advice for most people, because everyone’s situation requires a differe…

1
It's Time For Your Mid-Year Money Checklist! 35:44

5M ago35:44

35:44

We're half way through 2024, and it's time to get your financial house in order! What moves, if any, should you have made at this point? What about going forward? There's still time to do some tax management, maybe take a look at your 401(k) plan, and decide how you may want to allocate your investments before the year is out. So what's left to do?…

1
Why Time Is Your Most Valuable Asset in Investing 34:52

5M ago34:52

34:52

What’s your most valuable asset when it comes to investing? Is it maybe knowing the right stock to buy and when? How about a spreadsheet of things like P/E ratios, or being diversified across dozens of different classes? No – as it turns out, your most valuable asset with investing is time. The stock market, despite what you may have heard, is a lo…

1
Why Your Bonds May Not Be Paying What You Think 34:39

5M ago34:39

34:39

When you buy a bond, you might expect that the amount of interest stated on the coupon is the amount of interest that you’ll be receiving. So if you have, say, a $10,000 bond paying 5 percent interest, you probably figure it will pay you $500 each year. But that isn’t always the case. This is where it’s important to understand not just the bond’s c…

1
THIS Is Why We Love The Bucket Strategy® 34:15

5M ago34:15

34:15

It’s been said that the most important rule of finance is to not consistently mess things up. In other words, you need to survive the short-term chaos – and there’s lots of it – to reap the potential long-term rewards. If you can buy enough time to weather the constant storms, you may find yourself in a very good position down the road. The Bucket …

1
Why Engineers May Make Great Financial Planners 35:23

6M ago35:23

35:23

Many times in life, we see how one career field translates extremely well into another. Engineering is a great example of this. A good engineer needs to know what a project’s goal is, put the pieces together in a way that works, and then stress test it to make sure it works in all conditions. Financial planning is a lot like this. What does each in…

1
Roth IRA Strategies for High-Income Earners 35:52

6M ago35:52

35:52

If you're at all familiar with the Roth IRA, you probably know that there are income limits for people who want to make a contribution to a Roth. These limits generally go up a little bit each year, but anyone who makes over a certain amount of money is ineligible to make a Roth contribution. But that doesn't mean those with a high income have no a…

1
The New Rules on Inherited IRAs - What to Know 33:13

7M ago33:13

33:13

Are you in line to inherit an IRA? While inheriting almost any asset is generally a good thing, it's helpful to know the rules - mainly tax rules - that come along with it, especially if you plan on keeping as much of that money as you can. Some new laws went into effect on inherited IRAs within the past few months, and when you combine those with …

1
Is There Really a Charitable Giving Strategy With No Downside? 34:51

7M ago34:51

34:51

Many people who are at Required Minimum Distribution age find themselves wanting to give some of that distribution to charity. They don't need the money to live on, and they'd like to help out their favorite organizations or causes in any way they can. A standard way to do that is to take possession of the RMD, then turn around and write a check to…

1
How Much Money Do You Need to Retire Comfortably? 33:55

7M ago33:55

33:55

How much money does it take for you to retire in comfort? Is it $1 million? $2 million? Far more than that? Far less? Large investment firms and many media outlets often throw out big "retirement" numbers based on small surveys they took of people who may or may not have any clue about how much money they actually need. But it's a fair question. An…

1
What Is Your Wealth Distribution Strategy? 35:23

7M ago35:23

35:23

There are two distinct phases of your financial life. The first one is the years (decades) that you spend accumulating assets: building your savings, investing in retirement plans, etc. The second phase is when you begin taking those accumulated assets as distributions and live off of that income in retirement. The first phase is usually the one th…

1
5 Things You Didn't Know About Your Social Security Benefits 33:49

8M ago33:49

33:49

Social Security is vital part of many people's retirement income. It forms the foundation of a retirement plan and helps to determine how much (if any) money an individual's portfolio will have to provide throughout their retirement. But it's also extremely complex. There's much more to it than simply turning on an income stream once you're eligibl…

1
Your Pension Options: Which One May Be Best for You? 36:23

8M ago36:23

36:23

If you have a pension, the decision of how and when to take the payments is an important one. Are you offered the choice to take the entire amount as a lump sum? If so, is that option potentially better than a stream of monthly payments? What about your other choices? For married people who want to get as much as they can now, are they sacrificing …

1
How to Overcome Your Single Biggest Financial Fear 37:18

8M ago37:18

37:18

What are people's most prominent financial fears? There are many: losing a job, not saving enough for retirement, financial emergencies, and many others. But it all seems to boil down to one basic concern: Not having money available when you need it the most. This creates a lot of anxiety for people - especially for retirees, who rely on a steady s…

1
Why “Blending” Your Buckets May Produce Better Results 35:24

8M ago35:24

35:24

You may have heard that a basic Bucket Strategy® consists of a 3-, 4- or 5-Bucket plan, with each bucket separated into groups of short-term, mid-term, and long-term assets. What you may not have heard is that a good Bucket Strategy will often “blend” buckets to potentially give a retiree a much better overall outcome. What do we mean by “blending”…

1
Tying Your Social Security Benefits Into Your Investment Portfolio 35:44

9M ago35:44

35:44

When you get to retirement, your portfolio - that is, your savings - will presumably provide you with the money you need. The more guaranteed income you have from other sources (like Social Security and pensions), the less your portfolio will have to kick out to you. This is a crucial part of the financial planning process. The time when you begin …

1
Could Value Averaging Be the Key to Surviving Market Downturns? 35:31

9M ago35:31

35:31

It’s just a fact of investing life that the stock market is unpredictable. There will be months or years where the market exceeds expectations, and there will be other times when it underperforms and winds up below where you expected it to be – sometimes, way below. If you don’t have a strong risk management approach to investing, as years like 202…

1
What Are the Biggest Regrets that Retirees Have? 36:56

9M ago36:56

36:56

There aren't many people who make it through their working years without having at least a few things they wish they'd done differently. And while most people can eventually come to terms with any "poor" choices they may have made, it can be very instructive to know what common regrets they have. Did they save enough? Did they work too hard? Did th…

1
Can You Safely Ignore the 4% Rule? 35:32

9M ago35:32

35:32

There’s a popular “rule of thumb” that’s been around for about 30 years known as the “4-percent Rule.” The main idea is that your portfolio has a better chance of surviving for 30 years if you withdraw no more than 4 percent of the total each year. Some have said it should be even lower than that, depending on your investments. But is this so-calle…

1
What Can Trigger an IRS Audit? 35:05

9M ago35:05

35:05

If you've ever gotten a letter from the IRS, even if you're sure you've done nothing wrong, you know how stressful that can be. An even greater stress would be to see the word "audit" somewhere in the letter. Your best bet is to be thorough enough on your tax return so as to avoid any and all correspondence with the IRS when it comes to your taxes.…

1
Why (Almost) Everyone Needs an Estate Plan 34:15

10M ago34:15

34:15

Do you care what happens to your money and your assets after you die? Most people would probably answer that with an emphatic “yes,” even if they don’t have multiple millions saved up. Whether you know exactly where you want your money to go, or you only know where you DON’T want your money to go, it’s crucial to have the legal documents in place t…

1
A Peek Inside a Bucket Strategy 35:39

10M ago35:39

35:39

“Everyone’s situation is different.” If you’re a regular listener to this podcast, you’ve heard that many times. Because of that, the Bucket Strategy can take many different forms, each one dependent on a person’s individual goals, risk tolerances, and temperaments. Have you ever wondered how an advisor might put together someone’s strategy, given …

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How to Make Use of the Zero-Percent Tax Bracket 36:33

11M ago36:33

36:33

If you look at the tax tables, you’ll see that there are seven different tax brackets listed: 10%, 12%, 22%, and on up to the highest bracket at 37%. But did you know that there’s also a certain amount of money you can earn that’s not taxed at all? While there’s not an official “0% tax bracket,” the truth is that the first $14,600 you earn as a sin…

1
Is a Fixed Annuity a Better Alternative to Bonds? 35:18

11M ago35:18

35:18

Today’s topic is a follow-up to a similar discussion we had on this podcast in late 2022. Back then, interest rates had risen as bond values (and stock values) took a nosedive. The question at the time was: where should you go for your “non-volatile” asset class, if bonds don’t seem as attractive? Now that interest rates have somewhat stabilized, b…

1
What Is Your RMD Withdrawal Strategy? 34:10

11M ago34:10

34:10

A few episodes ago we talked about how to keep your tax bill down when planning for Required Minimum Distributions (RMDs). After that show aired, we received a good question from a listener in Arizona who wanted to know what a good withdrawal plan would be for someone who is actually taking their RMDs. For example, would it be prudent for someone t…

1
Can You Really Pay Less in Taxes on Your Social Security Benefits? 34:25

11M ago34:25

34:25

For most people, taxes are just a fact of life. Even your Social Security benefits – for which you had to pay taxes to be eligible to receive – are subject to taxation under certain circumstances. And this tax bite can hit you unexpectedly and put a sizable dent in your benefit income. Is there anything you can do about this? First, you need to rec…

1
Why Risk and Volatility Are Not the Same, and Why That Matters to You 32:59

12M ago32:59

32:59

What creates fear and anxiety when it comes to stock market investing? Usually, it's when the markets are behaving erratically. Put another way, it's when the markets are volatile. Or to put it yet another way, it's during virtually every short-term measurable time period. Stocks are always volatile in the short run. But stock market investing shou…

1
Why Having Protected Income Is Vital in Retirement 35:04

12M ago35:04

35:04

One of the most valuable things you can have, both before and after you retire, is a steady stream of income. What makes it more valuable to you is if that income is protected (meaning "guaranteed") by some entity, like the federal government, the PBGC, or the claims-paying ability of an insurance company. Two forms of protected income that people …

1
Is Right Now a Good Time to Do a Roth Conversion? 32:23

12M ago32:23

32:23

Converting your traditional IRA to a Roth IRA is not a decision that should be taken lightly. While tax-free growth is always nice, sometimes the price you have to pay – mostly income taxes on the conversion – makes it not worth doing. But for many people, right now may be the perfect time to convert their pre-tax funds into a Roth. How do you know…

1
How to Retire in Any Market Conditions 34:49

1y ago34:49

34:49

Many people have a retirement savings goal in mind, a level of money that they believe is enough. Once they reach that goal, they feel they’re ready to retire. And that’s a good plan. But what happens if your nest egg takes a big hit from the stock market just after you hang it all up for good? Do you really have to either go back to work, or maybe…

1
Why You Need the Right Portfolio Withdrawal Strategy 38:37

1y ago38:37

38:37

People tend to focus a lot of their attention on building their nest egg: which investment strategies to use in order to achieve a good rate of return. But surprisingly little notice is given to how you should extract that money at retirement. And this may be the more important aspect. No matter how much money you accumulate over your lifetime, if …

1
The 2023 RMD Rules Have Changed: How to Keep Your Tax Bill Down 37:31

1y ago37:31

37:31

Just a few years ago, the rules regarding Required Minimum Distributions (RMDs) were fairly simple: you turned age 70 ½, you had an RMD. But since the passage of the SECURE Acts, you may – or may not – be required to take an RMD this year. How do you know? That answer isn’t necessarily an easy one, for both IRA owners and for those who are the bene…

1
Is Sequence of Returns Risk a Threat to Your Nest Egg? 35:26

1y ago35:26

35:26

After years of building your savings, there are a number of scenarios that threaten to deplete it. One of them is called Sequence of Returns Risk. Simply put, this means that if you retire just when the stock market takes a downturn, and you're selling stocks to provide yourself with an income, you're courting disaster. What can you do about this? …

1
Strategies To Protect Your Family's Wealth 35:03

1y ago35:03

35:03

Most people are aware that there are two phases of your financial life: building your life savings, and then distributing that money to you at retirement. But there's a third phase that happens after you're gone, which many people pay less attention to than they should: distributing your life's assets to your heirs. Making sure your money and your …

1
How to Know If Your 401k Is Properly Structured 32:14

1+ y ago32:14

32:14

The 401k is designed to be a “set it and forget it” type of retirement plan: Set your allocation based on your age and risk tolerance, then contribute money each pay period, and let compounding do its job from there. And that’s a good thing. But part of the potential success of your 401k plan has to do with how it’s structured to begin with. You ma…

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