The Functional Retirement Podcast

In this episode of the Functional Retirement Podcast, host Thatcher Taylor welcomes tax expert Kevin Oleszewsky (prounounce Oshesky) to discuss tax strategies and the importance of taxes in retirement planning. 

Before diving into the financial and tax planning aspects, they discuss Kevin's personal health journey, which involved changing his diet and exercise routine and losing a significant amount of weight. The episode emphasizes the role of health in retirement, as it affects longevity risk, income distribution, protection, and estate planning. The podcast aims to explore the intersection of health and retirement planning and provide expert insights on the topic of taxes and retirement. 

Timestamps:
[00:01:15] Health Journey
[00:03:11] Health and weight loss
[00:06:16] Lifestyle changes for more energy
[00:10:32] Taxes and retirement planning
[00:13:28] Future tax brackets increase
[00:18:46] Maximizing tax brackets
[00:19:34] Retirement Tax Planning
[00:22:44] Tax bracket optimization
[00:26:34] Roth conversions for legacy planning
[00:30:21] Qualified Charitable Distributions
[00:34:17] Legacy planning for beneficiaries
[00:39:26] Wash sale rule
[00:41:35] Tax loss harvesting strategy
[00:46:46] Asset location strategies
[00:49:02] Taxable vs Tax-free accounts

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation http://www.propathfinancial.com/schedule-an-appointment

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

In this episode of the Functional Retirement Podcast, host Thatcher Taylor interviews Stevyn Guinnip, a specialist in health and wealth. They discuss the convergence of health and retirement planning, and how it affects longevity risk, income distribution, protection, estate planning, and everything that goes into an optimal retirement. They share actionable items that listeners can use in their day-to-day life to increase their wealth and health, and how promoting health and wealth can benefit both financial advisors and their clients. The interview also covers the impact of COVID-19 on the industry and how it has affected business growth.

The episode introduces the three W's for health: walk, water, and sunlight. Walking is an excellent way to improve physical and mental health, and the speaker recommends walking more than one currently does. The second W, water, involves drinking 80 ounces of water in the first 10 hours of the day, following Dr. Huberman's recommendations. Staying hydrated is crucial for overall health. The third W, sunlight, is not explicitly discussed in this transcript, but the episode emphasizes the importance of getting sunlight on the eyes in the morning to regulate the body's internal clock and prepare for deep sleep later in the day.

The episode also stresses the importance of managing stress and taking breaks throughout the day to prepare the body for restful sleep at night. Disconnecting the brain from the body throughout the day can result in a hyperactive state at night, preventing deep sleep. Improving the quality of sleep is crucial for overall health and wellness.

Links

Follow and subscribe to Stevyn Guinnip on social media:

LinkedIn : @stevyn-guinnip Instagram: @growwellthy Facebook: @growwellthy

Know more about Stevyn on her website:

https://www.growwellthy.com/stevyn.html

[00:02:53] Health and money parallels 
[00:03:55] Stressful desk job experience
[00:08:02] Importance of Movement
[00:10:39] Simple Formula for Health
[00:14:41] Walking for health
[00:18:51] Strategies for better sleep
[00:20:26] Sleep and Circadian Rhythm
[00:24:09] Importance of deep sleep
[00:29:26] Reducing stress through thinking
[00:31:35] Box breathing technique
[00:34:08] Sleep and breathing techniques
[00:37:35] Muscle Mass and Functionality
[00:41:31] Functional fitness for daily life
[00:44:49] Fall prevention and lifting weights
[00:48:18] Nutrition and balance
[00:51:21] Sustainable diet tips
[00:56:10] Travel Nutrition Tips
[00:58:05] Meal composition and ratios
[01:02:01] Balanced blood sugar control

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation http://www.propathfinancial.com/schedule-an-appointment

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Presentation Slides

Assessing health and longevity, as well as developing a dynamic income distribution strategy, are important steps in preparing early for retirement.

In this episode of the Functional Retirement Podcast, Thatcher Taylor discusses several charts that provide data about health and retirement planning. Taylor emphasizes the significance of starting retirement preparation early, particularly for individuals aged between 45 and 50. It is essential to analyze how much money is needed for retirement and assess one's health and longevity, as they play vital roles in Medicare and Social Security decisions.

Thatcher's expertise and experience as a retirement planner provide valuable insights into retirement planning, emphasizing the significance of early preparation, health and longevity assessment, and dynamic income distribution strategies. This makes the podcast a valuable resource for anyone interested in navigating the complexities of retirement planning.

Highlights

00:17 Importance of early retirement planning and maintaining good health
01:10 Life expectancy probability chart for married couples
03:19 Goals-based wealth management
05:17 Income replacement and Social Security and the impact of increasing income needs on Social Security percentage
08:47 Dynamic spending strategy and its advantages compared to the inflation-adjusted method
10:45 Breakdown of Social Security timing and the breakeven ages between taking benefits early and at full retirement age
15:06 Importance of considering long-term care expenses in later life.
17:03 The value of a retirement planner in coordinating needs analysis, income distribution, and goal tracking

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation http://www.propathfinancial.com/schedule-an-appointment

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Money is often just a surface issue in many conflicts and divorces.

In this episode, our guest Ashley Quamme, a mental health, behavioral, and relationship therapist, shares her stories in dealing with couples on the verge of separation. With nearly 15 years of clinical experience as a marriage and family therapist in Georgia, Ashley provides invaluable insights on how finances are sometimes seen as the main problems of couples when, in fact, deeper and more complex issues are the real culprit of misunderstandings.

Moreover, Ashley explains the prevalence of divorce within the baby boomer generation, with women commonly taking the initiative. She believes that understanding financial psychology and engaging in financial therapy can improve the client-advisor relationship, which can in turn help reduce the risk of divorce.  Additionally, she sheds light on the power of allocating time to "think, feel, and do" before confronting issues with your partner, which can then help solve conflict.

Physical and mental health, as well as financial security, are indeed inseparable, so our guests will share ways on how you can maintain these aspects in a good state to be able to have a smooth and harmonious relationship with your better half.

Highlights

4:24 Understanding why half of marriages don't survive

7:20 The common reasons why couples divorce

10:38 Simple words have great impact on building communication

20:34 Money is a surface issue in most conflicts

23:30 The "think, feel, do" approach to resolving marital problems

31:04 Men and women erupt differently

34:52 How allotting time for therapy helps you move forward after a divorce

39:37 Short-term thinking is advised for couples nearing retirement age

47:18 Physical health has a direct impact on mental well being

Links

Check out Ashley Quamme’s Twitter and LinkedIn

👉https://twitter.com/bamconsults
👉https://www.instagram.com/bam_consults/👉https://www.linkedin.com/in/ashley-quamme-lmft-fbs%C2%AE-cft-i%E2%84%A2%EF%B8%8F-7a4b4722/

Check Out Ashley Online
👉https://therapybyashley.com/

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
? Schedule a free consultation http://www.propathfinancial.com/schedule-an-appointment

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

In this episode, our guest, Jess Bost from Alpha Architect, shares how she found her way into the world of finance through the social media platform Twitter. She recalls her journey from building a career in finance to helping advisors establish meaningful portfolios for their clients.

Jess is a Crossfit coach and the Twitter master for converging financial planning and fitness, and you’ll hear how she helps people get from where they are to where they want to be, both physically and financially. We also discuss our insights into merging health and wealth and how it affects longevity, risk, income distribution, protection, and estate planning.

Advisors have the option to manage assets themselves or to hire a third party to do it for them. Jess describes how Alpha Architect assists them with their portfolios by offering education on factors and built funds.

👉https://alphaarchitect.com/2019/04/buyer-beware-the-reality-of-tax-loss-harvesting-benefits/

Highlights

[8:48] What is factor investing

[11:39] Common mistakes advisors make in financial planning

[17:49] Understanding the purpose of building a portfolio

[19:50] Building high quality and diversified portfolios to achieve goals

[26:55] Manage client emotions strategically

[28:45] Exploring tax loss harvesting opportunities for clients

[36:51] Gaining confident in handling clients’ money

[45:08] How showing empathy and support help clients in financial planning

Links

Check out Jess Bost's Linkedin account

https://www.linkedin.com/in/jess-l-bost-ricp%C2%AE-1b915414b/

Follow her socials

https://www.instagram.com/lady__bost/?hl=en

https://twitter.com/lady__bost?lang=en

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
? Schedule a free consultation http://www.propathfinancial.com/schedule-an-appointment

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Business ownership and tax management play essential parts in your retirement plan.

In this episode, Travis Gatzemeier, a CFP and founder of Kinetix Financial Planning, discusses the two big sources of wealth in society: business ownership and equity compensation. He breaks down the wealth-generating potentials of these two while also highlighting the risks involved.

You’ll also get to know Travis’ journey from trading derivatives to launching his own financial planning business, which focuses on helping entrepreneurs and individuals with equity compensation. He explains the challenges in entrepreneurship and why it's crucial to pay your taxes correctly.

While owning a business can reduce taxes, Travis warns against making decisions based solely on this factor. Our guest shares his non-traditional route to becoming a business owner and sheds light on the importance of combining finances with investment advisory when it comes to retirement planning.

Highlights

04:36 Control your behavior for wealth.

14:00 The common misconception of new business owners

18:50 Retirement planning for small business owners

25:27 Exploring strategies for personal cash flow management

27:53 Why you should never run out of cash

30:02 Utilizing equity compensation as a wealth-building tool

43:14 Pay taxes early to avoid surprises

49:00 Tax planning strategies for business owners and W-2 employees

55:52 The value of accountability in achieving financial growth

 Links

To learn more about Travis Gatzemeier’s business check out Kinetix Financial Planning

You can also visit his Twitter @T_Gatzemeier, Instagram @kinetixfp, and LinkedIn profile Travis Gatzemeier 

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
? Schedule a free consultation http://www.propathfinancial.com/schedule-an-appointment

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Understanding the Difference between Risk and Volatility in Retirement Planning

Understanding risk and volatility is important before diving into the world of investing and preparing for retirement.

In this solo episode, I'll share with you the difference between risk and volatility using my experience watching my two kids alone for five days. This made me realize that parenthood is a balancing act between allowing children to grow and try new things while not exposing them to catastrophe, just as investment and retirement are.

Risk and volatility are not the same and should not be interchangeably used, and by understanding the difference between the two, retirees can make informed decisions to ensure an optimal retirement.

I’ll also share how you can determine your personal risks to be able to find stability when it comes to risk and reward.

Highlights

02:48 - Observing risk-taking behaviors in young children from a parent's perspective

03:56 - Mitigating risk and volatility through parenting

7:09 - Importance of finding the balance between risk and reward

8:49 - What is volatility in investing?

12:47 - Analyzing volatility and the VIX index

13:56 - The difference between risk and volatility and how it can help your wealth and health

14:56 - Exploring the types of risk in investing

21:50 - Strategies for mitigating volatility in your financial plan

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

Important Social Security Info here: https://www.youtube.com/playlist?list=PL7A5bFh5NxnVRx5wzD4AOLz7KyigadFqv

Twitter https://twitter.com/ThatchTaylor

LinkedIn https://www.linkedin.com/in/thatcher-taylor-cfp/

Facebook https://web.facebook.com/propathfinancial?_rdc=1&_rdr 

Instagram https://www.instagram.com/dadbodfinancial/

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
🤝 Schedule a free consultation http://www.propathfinancial.com/schedule-an-appointment

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Planning for the future is a crucial step in securing a stable financial future… 

In this episode, Nic Nielsen, a CFP® from Know My Plan and author of Visual Finance,  shares some key points to consider when planning for retirement. He emphasizes the importance of healthy living habits and sports, as they can greatly impact the quality of your golden years. Blindly trying to achieve financial freedom without proper planning is a recipe for disaster, which is why having a qualified consultant to help and educate you along the way is essential. 

Nic also highlights the "3 Barbarians of Retirement" and provides insights on how to turn them in your favor. Despite starting his college years in engineering and venturing into the world of banking, Nic eventually found his calling as a financial advisor who helps people of all ages plan for a secure future. 

Episode Highlights
[4:16] Why financial planning is like engineering 
[7:54] Importance of having a backup plan or emergency fund during market downturns 
[13:03] Charles Schwab and other banks suggest that holding bonds until maturity can help avoid short-term paper losses, as they get paid out and become irrelevant if held until maturity or the yield to worse.
[19:55] Being average in the stock market can put investors in the top 1% compared to other investment options 
[24:20] Studies show that wealth passed down to the second or third generation of millionaires is usually completely used 
[29:16] Starting early is key when it comes to thinking about long-term care
[29:53] Why planning for long-term care is crucial
[33:23] Why many financial advisors do not discuss how being physically active can control your future expenses and retirement
[44:29] The importance of avoiding to become a burden on your children for their personal growth and development
[47:06] The key to achieving goals is to start taking small steps forward, just like taking baby steps

Links
To learn more about Nic Nielsen’s businesses check out https://knowmyplan.com/about-us/  

You can also check out his LinkedIn profile, Nic Nielsen

Nic Nielsen’s book: Visual Finance

Know more about the host Thatcher Taylor on social:

Instagram: @propathfinancial and @dadbodfinancial

LinkedIn: Thatcher Taylor

YouTube: Functional Retirement

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?

🤝 Schedule a free consultation http://www.propathfinancial.com/schedule-an-appointment

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Throughout the episode, Thatcher previews the upcoming lineup of guests on Retirement Planning 360 (now Renamed to Functional Retirement Podcast), who will offer expert insights and practical advice on various retirement-related topics, such as financial planning, health and wellness, and longevity risk. Whether you're a retiree, a pre-retiree, or simply interested in learning more about retirement planning, this episode sets the stage for an informative and engaging podcast series. Tune in to Retirement Planning 360 to discover how you can use CrossFit and other strategies to optimize your retirement plan and achieve your goals.

In the debut episode of Retirement Planning 360, host Thatcher Taylor CFP® MBA discusses his chosen training regimen, CrossFit, and how it ties into retirement planning, health, longevity risk, and overall life plans. He explains how the principles of CrossFit, such as varied functional movements, high-intensity workouts, and constantly varied exercises, can be applied to retirement planning to achieve financial and health-related goals. Thatcher also shares his personal story of how CrossFit helped him overcome a major health setback and improve his overall quality of life.

Show Notes:
👉https://peterattiamd.com/category/diseases/
👉https://www.crossfit.com/essentials/what-is-fitness-lecture-10-physical-skills#:~:text=They%20are%20cardiovascular%2Frespiratory%20endurance,agility%2C%20balance%2C%20and%20accuracy.&text=You%20are%20as%20fit%20as,each%20of%20these%2010%20skills.

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?

🤝 Schedule a free consultation http://www.propathfinancial.com/schedule-an-appointment

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Today we will discuss 5 ways to build and maintain wealth. People don't like ongoing maintenance but the wealthy will continually do maintenance on the financial situation. In this episode, I use my physical injuries and your car as analogies to understand how doing maintenance now, avoids big problems later.

If you are wanting to fine-tune your retirement, this episode is for you!

As promised, the Retirement Vision Workbook 📝 https://propath.ck.page/workbook

Are you over age 50 and need retirement help?

🤝 Schedule a free consultation http://www.propathfinancial.com/schedule-an-appointment

Not ready yet? No problem...

Sign up for our Monthly Newsletter here 👉 https://propath.ck.page/5952bc75eb

Are you a visual learner? Check out the YouTube Channel 👉 https://www.youtube.com/thatchertaylor

✅Contact Thatcher at [email protected] with comments and questions!

🆓 If you want to UNWIND your wealth, download our Retirement MEGA Pack which includes a flowchart, checklist, and EBook all about unwinding wealth and evaluating your investments: https://propath.ck.page/retirement-mega-pack

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

✅Contact Thatcher at [email protected] with comments and questions!

Are you over age 50 and need retirement help?
Schedule a free consultation https://www.propathfinancial.com/get-started

Subscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirement

Join The Newsletter For All Wealth Building Tactics
https://propath.ck.page/60fab1df4d

DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos.

​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.