Tag: Taxes
Planning For Taxes And Retirement (Ep.38)

Planning For Taxes And Retirement (Ep.38)

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Retirement planning is ever changing, from government planning to your neighbours opinions. What are the considerations of retirement planning from a financial advisor’s perspective?

In this episode, Tim Whisler shares insight gained from a recent IRA workshop and how it changed his thinking towards basic retirement planning accounts, distribution and taxes.

Tim discusses:

  • The role of the IRS in retirement income planning
  • How government spending could impact retirement accounts
  • Why and how do specific age groups impact retirement planning and distribution phase
  • What order should you withdraw from different retirement accounts
  • And more

Resources:

Connect with Tim: 

Book a Call with Tim:

Investment advisory and financial planning services offered through Simplicity Wealth, LLC, a SEC Registered Investment Advisor. Sub-advisory services are provided by Simplicity Solutions, LLC, a SEC Registered Investment Advisor. Insurance, Consulting, and Education services offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth and Simplicity Solutions.

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32. Retirement Planning in 2022

32. Retirement Planning in 2022

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The U.S. Federal Reserve continues to remain uncertain in the early months of 2022. 

Because of this, for those in or entering retirement, planning for the future is more important than ever.

In this episode, Tim Whisler dives into retirement planning preparations for 2022, focusing on retirees and how inflation, market volatility, and taxes impact those entering retirement. He also reveals how supply and demand increase the cost of products and services, the impact of uncertainty on the financial market, and his advice for clients on what to budget for during retirement.

Tim discusses:

  • The dangers of market volatility on portfolios
  • How inflation impacts the amount required for retirement
  • Why including a budget for fun is necessary for retirement
  • The impact of taxes on retirement planning in 2022
  • And more!

Resources:

Connect with Tim: 

Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.

 

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20. How To Find Your Personal Retirement Number

20. How To Find Your Personal Retirement Number

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What is your magic number to create the retirement you dream about? Do you know how much you truly need to have saved to live your dream retirement?

In this episode, Tim Whisler shares his process for helping clients create a retirement plan around their personal retirement number. Tim discusses the important questions you should be asking yourself and how the answers could benefit your retirement plan.

Tim discusses:

  • The importance of understanding your expected expenses in retirement
  • How taxes could impact your retirement income
  • Five risks you face when planning for retirement
  • And more!

Connect with Tim: 

Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.

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Episode 18 – Retirement Planning 101—Part 1

Episode 18 – Retirement Planning 101—Part 1

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You don’t have to be a professional financial advisor to understand the basics of planning.

In part one of this two-part series, Tim Whisler dives into five of the most common mistakes 401(k) and IRA owners make. Tim helps you discover the taxes you are paying but shouldn’t be, and shares ways you could save even more.

You will learn:

  • 5 of the most common errors 401(k) and IRA owners make
  • The potential advantages and drawbacks of withdrawing IRA inheritance
  • How the SECURE Act impacted retirement income
  • The taxes you can avoid paying for different planning mistakes
  • And more!

Listen now as Tim Whisler reveals the taxes you could avoid when planning your retirement!

Resources: Tim Whisler | The Whisler Agency: (309) 291-0491

Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.

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Episode 15 – So You’re Retiring or Switching Jobs: What Do You Do With Your 401(k)?

Episode 15 – So You’re Retiring or Switching Jobs: What Do You Do With Your 401(k)?

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A 401(k) retirement plan offered by your employer can be a great savings tool, as long as you take advantage of it, and manage it correctly.

However, 401(k) questions surrounding employment, retirement, taxes, and the IRS arise all the time, and to clarify potential doubts, Tim Whisler reviews them all to explain the different 401(k) uses, whether you are moving on to new opportunities or simply retiring. 

In this episode, you will learn:

  • The five available options for someone with a 401(k) who is switching jobs 
  • What you should know about leaving and moving your 401(k) plan from your previous to your current employer
  • Why you shouldn’t cash your 401(k) plan early
  • How to roll your 401(k) plan into an IRA
  • The role of taxes and income streams when it comes to your 401(k) and retirement
  • And more!

Tune in to find out how to efficiently handle and make use of your 401(k) retirement plan! 

Resources: Tim Whisler | The Whisler Agency: (309) 291-0491 

Investment advisory and financial planning services offered through Simplicity Wealth, LLC, an SEC Registered Investment Advisor. Sub advisory services are provided by Advisory Alpha, LLC, an SEC Registered Investment Advisor. Insurance, consulting, and education services are offered through The Whisler Agency. The Whisler Agency is a separate and unaffiliated entity from Simplicity Wealth, LLC, and Advisory Alpha, LLC.

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