In this episode of Navigating an Abundant Retirement, host Carol Dewey continues the discussion on the 12 little-known wealth myths. In part two, Carol explores myths seven through nine, shedding light on how these misconceptions can negatively impact retirement planning. She emphasizes the importance of understanding these myths to avoid costly mistakes and outlines a path to a 120% retirement lifestyle.Key Takeaways:Wealth Myth #7: The 80% reduced retirement lifestyle myth can lead to a life of lower standards if followed. Retirement should be about abundance, not reducing your lifestyle.Wealth Myth #8: The 401(k) binge myth encourages excessive or uncontrolled indulgence in 401(k) plans, potentially leading to higher taxes and lost capital gains benefits.Wealth Myth #9: The lower tax bracket later myth is based on the false assumption that you will always be in a lower tax bracket in retirement. Rising federal debt might lead to increased tax rates, impacting retirees' financial security.Quotes:"Retirement should be a life of more than enough. I believe you should retire 120%.""Every unnecessary dollar you surrender to the IRS needlessly is one less dollar you have for your lifestyle and your legacy."Timestamps:(01:27) - Discussion on myths and their implications on retirement(03:47) - The impact of new forces on retiree confidence(07:01) - Explaining the 120% retirement concept(08:16) - Importance of reliable and tax-free income for retirement(09:27) - The risks of a stock market-based retirement lifestyle(10:50) - The drawbacks of excessive reliance on 401(k) plans(12:16) - Discussing tax bracket assumptions and their impact on retirement planning(14:45) - Impact of federal government spending and potential tax rate increases(18:25) - Description of the 21-point retirement lifestyle assessmentReferenced Links:For more information about the show, visit Navigating an Abundant Retirement Podcast.Give us a call at (877) 434-6243 or email Carol at carol@perpetualwealthfinancial.com to schedule your 21-point retirement lifestyle assessment.Connect With Carol Dewey:Website: Perpetual Wealth FinancialLinkedIn: Carol Dewey on LinkedIn

In this episode of Navigating an Abundant Retirement Radio, Carol Dewey discusses the first six myths out of twelve that can affect your retirement planning. She explores common misconceptions about wealth and retirement, illustrating how these myths can impact your financial security and freedom. Carol shares personal stories and real-world examples to emphasize the importance of comprehensive planning for a successful retirement.Key Takeaways:Myth #1: "What Got You Here, Won't Get You There." Carol discusses the three wealth phases and emphasizes the need to adjust wealth plans as you move into retirement.Myth #2: "The Tax Code is Not Your Friend." Carol highlights how understanding the tax code can lead to significant tax reductions and even elimination.Myth #3: "Good Advice vs. Bad Advice." She shares a real-life story of how bad advice led to financial loss and family conflict, demonstrating the importance of having well-informed advisors.Myth #4: "The Financial Superstar Myth." Carol examines the unrealistic expectation that people should be experts in both their careers and wealth management.Myth #5: "The DIY or Semi-DIY Myth." She explains why acting as your own wealth advisor may not be the best approach, especially during retirement.Myth #6: "The Dear Occupant Gold Myth." Carol discusses the dangers of one-size-fits-all financial products and the need for customized wealth planning. Read moreQuotes:"Wealth is more than money. It's what is valuable to you, what is worth fighting to protect, and what is worth passing on.""The tax code is a roadmap to tax reduction and tax elimination. It's full of gold mines for those with advisors trained to take advantage of every tax-saving opportunity."Timestamps:(00:16) Overview of the First Six Myths(01:17) Defining Wealth and Retirement(02:17) Myth #1: "What Got You Here, Won't Get You There"(05:41) Myth #2: "The Tax Code is Not Your Friend"(07:58) Myth #3: "Good Advice vs. Bad Advice"(11:08) Myth #4: "The Financial Superstar Myth"(14:07) Myth #5: "The DIY or Semi-DIY Myth"(15:17) Myth #6: "The Dear Occupant Gold Myth"Referenced Links:Please leave us a rating and a review on Apple Podcast.Connect With Carol:Perpetual Wealth Financial WebsiteLinkedIn

In this episode of Navigating an Abundant Retirement Radio, host Carol Dewey delves into the potential impact of the 2024 presidential election on finances. Drawing on data and historical trends, Carol addresses common concerns and misconceptions about how election outcomes may affect investment portfolios and retirement plans. While acknowledging widespread anxiety among investors, Carol emphasizes the importance of staying informed, maintaining a long-term perspective, and working closely with financial professionals to navigate economic uncertainties.Key Takeaways:Historical data suggests that presidential election outcomes have minimal impact on market performance.Maintaining focus on long-term financial goals and strategies is crucial during periods of economic volatility.Working with a financial services professional can provide valuable guidance and perspective in navigating market fluctuations.Relying on data and historical trends rather than emotions or gut instincts can lead to more informed investment decisions.Building a diversified investment portfolio and staying patient during market fluctuations are essential for long-term financial success.Quotes:"Presidential elections occur every four years whether we like it or not, and the data is clear that the winner of those elections isn't going to change your portfolio much.""Building the kind of savings and retirement income you need to achieve your retirement goals comes down to trust and patience.""There's real power in relying on data and historical trends rather than your emotions or gut instincts."Timestamps:(01:59) Overview of election-related financial concerns(06:05) Analysis of historical trends and market performance during election years(08:35) Examination of investor sentiments and anxieties(11:11) Impact of election-related anxiety on retirement planning and investment strategies(14:44) Strategies for avoiding emotion-based investing during economic uncertainty(17:55) Conclusion and encouragement to stay focused on long-term financial goalsPlease leave us a rating and a review on Apple Podcast.Visit the website here.Connect With Carol:www.perpetualwealthfinancial.comLinkedIn

Episode Summary:On this episode of Navigating an Abundant Retirement Radio, host Carol Dewey delves into the intricate financial concerns faced by many, including millionaires. In the Retire Abundantly series debut, she explores the evolving landscape of financial security amidst economic, financial, and political shifts, offering insights and strategies for ensuring a prosperous retirement.Key Takeaways:Achieving a million-dollar milestone doesn't guarantee the anticipated sense of financial security.Financial concerns extend beyond personal wealth to encompass broader economic uncertainties.Taxes, particularly IRS levies, pose significant threats to financial independence and retirement plans.Preparation and informed action are vital in navigating financial challenges and securing a fulfilling retirement.Quotes:"It's not just as Yogi Berra said, 'A nickel ain't worth a dime anymore.' There are an extraordinary labyrinth of new economic, financial, and political forces at work that threaten our financial security and will create winners and losers." - Carol Dewey"Income is king after-tax income. It's not what you make, it's what you keep." - Carol Dewey"What's the one thing you would surrender all of your money to keep? Whatever that answer is, be sure your Strategic Retirement Lifestyle Plan protects that." - Carol DeweyRead morePlease leave us a rating and a review on Apple Podcast.Visit the website here.Connect With Carol:WebsiteLinkedIn

In this episode of "Navigating an Abundant Retirement," host Carol Dewey dives into the crucial topic of Roth conversions. Join us as we explore whether a Roth conversion is the right financial move for your retirement strategy.Don't miss this episode of "Navigating an Abundant Retirement" if you're looking to make informed decisions about Roth conversions and maximize the potential of your retirement savings. Tune in for expert advice and practical tips on securing a financially abundant retirement.

In this episode of Navigating Abundant Retirement radio. Carol Dewey talks about how TODAY’S ECONOMY MIGHT IMPACT YOUR RETIREMENT. If you’re retired (or close to it), you might feel overwhelmed hearing about all the things that could affect the retirement you’ve worked so hard for. So in this show, Carol will discuss how you can take charge of your retirement! We’ll cover how an appropriate retirement income strategy can help you:"

In this episode of "Navigating Abundant Retirement," your host, Carol Dewey, delves into the critical topic of how taxes can impact your retirement dreams. She challenges common misconceptions and invites you to ponder the following pivotal question:"How Taxes Can Impact Your Retirement Dreams: The Power of When"Carol explores the timing and strategies related to taxation during retirement, shedding light on the ways it can either enhance or hinder your retirement goals.Conclusion:Understanding the timing of tax-related decisions and implementing strategic tax planning can be a game-changer for your retirement. Don't underestimate the impact taxes can have on your financial future.Continue your journey of enlightenment and education by taking these steps:Subscribe to our podcast for future episodes.Download this episode to revisit key insights.Show Note Resources:2023 Retirement and Savings Guide2023 Taxation GuideStay tuned for more valuable insights and strategies to make the most of your retirement dreams. See you next time on "Navigating Abundant Retirement" with Carol Dewey!

In this episode, Carol Dewey discusses the importance of estate planning for a secure retirement. She shares her own experience after her mother's passing, highlighting the value of having affairs in order. Carol emphasizes the significance of addressing estate planning to alleviate stress during emotional times.Carol also features Barry Haimo of Haimo Law, an expert in estate and business planning. They touch on a crucial aspect of estate planning: the probate process. Barry explains that while probate is necessary, it comes with time, cost, and privacy implications. He compares it to an airport experience—time-consuming, invasive, and unpredictable.Listeners are encouraged to consider their own plans and the impact on loved ones. The discussion sheds light on alternatives to probate, urging proactive planning. The episode underscores the emotional toll of probate and highlights the importance of ensuring a smoother process for family members.Guest Speaker: Barry Haimo, Haimo Law @ www.haimolaw.com, (954) 228-3369, 8201 Peters Road, Suite 1000, Plantation, FL 33324

Welcome back to Navigating an Abundant Retirement Radio. This week, Carol discusses how business owners invest for guaranteed growth and generational wealth. This podcast episode is for business owners who insist that their money and investments empower them — not rob them or hold them back.Main Points:Investing in Yourself and Your Business:Business owners should focus on investments that empower them and their business instead of diverting money to other businesses.The host highlights the importance of investing in special accounts that offer guaranteed growth of 4-5% per year, regardless of market fluctuations.Wealth Capture Account:Carol introduces the concept of a Wealth Capture account as a way to automatically grow wealthier every month.She suggests setting up an automatic transfer of a percentage of income into a savings account, creating a secure financial foundation.Living Wealthy Account:The host recommends sweeping a small percentage of income into a separate savings account called the Living Wealthy account.This account is for guilt-free spending on personal luxuries and things that bring value and relaxation.Wealth Creation Account:Carol discusses the Wealth Creation Account, a safe and reliable place for money to grow, which can be utilized for investments or business growth.Cash Flow Insurance is suggested as one of the best vehicles for a Wealth Creation Account.Cash Flow Insurance:The benefits of Cash Flow Insurance, which provides a consistent, guaranteed, tax-preferred return regardless of stock market fluctuations.It allows entrepreneurs to access cash for various purposes, such as financing their business, education, or home.Asset Protection and Family Legacy:Cash Flow Insurance can offer protection from lawsuits and act as a "war chest" for defending against financial predators.The system can also be used to pass wealth on to the next generation without triggering estate taxes.The Smarter "System":Emphasize that a smarter system, like the Cash Flow Banking™ System, is required for preserving, protecting, and growing wealth.The system allows easy access to money for any purpose without the constraints of traditional retirement accounts.Working with a Wealth Team:Create a wealth team for entrepreneurs, similar to a Family Office for wealthy families.The team includes finance specialists, CPAs, attorneys, etc., and is designed to help business owners manage and grow their wealth effectively.Cash Flow Health Assessment: LinkDisclaimer: The information provided in this podcast is for educational and informational purposes only and should not be considered financial advice. Listeners are advised to consult with a qualified financial advisor before making any investment decisions.

In this episode, Carol Dewey interviews Soli Rodriguez, an Estate Planning Attorney with expertise in Estate Planning, Probate, Business, and Real Estate Law. Soli is a bilingual attorney, fluent in both Spanish and English, and holds licenses in Puerto Rico and Florida, including admission to the Southern District Court of Florida.In this insightful conversation, Soli shares their extensive experience partnering with key attorneys to provide critical guidance and support in various legal matters. With a proven track record of success, Soli's ability to analyze complex situations, data, and documentations ensures that legal assignments are executed promptly and surpass expectations. They are resourceful and adept at anticipating and evaluating all issues to protect clients' interests while delivering professional results in demanding environmentsSoli's advice to start the estate planning process early, emphasizing that it is essential for everyone, regardless of age or wealth. By proactively addressing potential challenges and protecting assets, individuals can ensure that their wishes are upheld and their retirement years can be enjoyed with peace of mind.Tune in to this episode to gain valuable insights from Soli Rodriguez, an Estate Planning Attorney, as they discuss the significance of estate planning in navigating an abundant retirement.

In this episode, Carol explores the impact of artificial intelligence (AI) on investment insights. Here are the key takeaways:AI Defined: AI refers to computer systems that mimic human intelligence by analyzing large datasets to solve problems.Narrow AI vs. General AI: Narrow AI focuses on specific tasks and provides singular answers based on past data. General AI aims to replicate human thought processes and surpass human intelligence, but it is still a theoretical concept.AI Training Approaches: AI is trained using supervised, semi-supervised, and unsupervised learning. Supervised learning uses labeled datasets, semi-supervised learning allows some inference-making, and unsupervised learning explores unlabeled datasets.Expanding Use Cases: AI has limitless potential applications and can enhance decision-making, improve businesses, and revolutionize various industries, including drug development.Beneficiaries in Investing: Companies like C3.AI, Nvidia, Broadcom, AMD, Microsoft, and Google are already benefiting from AI. New AI-focused companies are expected to emerge in the future.Investing in AI: Currently, pure AI-focused ETFs are limited, but portfolios can include companies like Amazon, Microsoft, and Nvidia that benefit from AI advancements.Potential Opportunities: Despite recent gains in AI-related stocks, there are still potential investment opportunities as the AI landscape continues to evolve.These insights provide an overview of AI's impact on investing, highlighting its definition, training approaches, expanding use cases, beneficiaries, investing options, and potential opportunities.

In this episode of Navigating an Abundant Retirement Radio, host Carol Dewey discusses the debt ceiling, upcoming deadlines, and investment insights. Understanding the debt ceiling is important, and Carol aims to provide a better understanding of it and share thoughts on how to navigate the situation.The Debt Ceiling: What is it?The debt ceiling is the limit on the amount of money the US government can borrow to fund its expenses. The US reached its debt limit of $31.4 trillion on January 19, and now Congress needs to approve a higher limit. If a resolution is not reached, the US could potentially default on its debt.Breaking Down the Budget:The debt can be divided into mandatory expenses, discretionary expenses, and interest payments. Mandatory expenses include Social Security, Medicare, and Medicaid, while interest payments make up 6% of the budget. Adjustments to discretionary expenses, like the Department of Defense, might be considered when looking at the budget.Who Owns the Debt?Around 60% of the US debt is owned by investors, including insurance companies, mutual funds, and foreign countries. China holds about 2.5% of the debt, while other countries own 22%. The majority of the debt, around 80%, is owned by US entities such as Social Security and retirement plans.Historical Debt Trends:The US debt has consistently increased over time, regardless of the administration. The debt ceiling has been adjusted 78 times since 1960, and since 2009, the debt has tripled. Addressing the debt ceiling tends to be an emergency-focused conversation rather than a long-term plan.Extraordinary Measures:During debt ceiling debates, the Treasury Department can take extraordinary measures, like prioritizing payments and temporarily suspending funding for certain programs, until a resolution is reached. These measures are temporary solutions.Potential Consequences:Failure to raise the debt ceiling could lead to government service cutbacks, volatility in the market, and a possible downgrade in US debt, resulting in higher borrowing costs. However, it is believed that politicians will work to avoid these scenarios.Carol believes that the debt ceiling will eventually be raised, although the compromises and consequences remain uncertain. It is challenging to create a long-term investment strategy around this issue, so it's important to stay informed and monitor the situation as it develops.

Key Takeaways:A recent study reveals seven financial decisions older investors regret not making to better prepare for the future.Being aware of these regrets can help us avoid similar decisions today that may impact our financial security later in life.Many of these regrets center around retirement and the need for more savings due to longer life expectancies.In this episode, Carol shares the findings of a study on financial regret among older adults and provides steps to avoid such regrets in our own financial decisions.Regret 1: Not Saving Enough (57% regretted)Start saving early, even small amounts can add up over time.Set a budget, track expenses, and redirect savings towards retirement.Periodically review and adjust your savings plan.Take advantage of employer matching contributions.Regret 2: Not Buying Long-Term Care (LTC) Insurance (40% regretted)Understand the potential costs and benefits of LTC insurance.Start the conversation early and explore options with a financial advisor.Carefully review policy terms, coverage, and exclusions.Long-term care expenses can be significant, making planning crucial.Regret 3: Not Delaying Social Security Benefits (23% regretted)Claiming benefits at 62 leads to reduced monthly benefits.Delaying benefits until 70 can increase monthly benefits.Understand the impact on retirement income and financial security.Consider individual financial situation and retirement goals.Regret 4: Not Purchasing Lifetime Income Payments (33% regretted)Annuities provide a guaranteed income stream in retirement.Understand different annuity types and how they fit your plan.Regret 5: Depending Financially on Others (10% regretted)Strive for financial independence by saving and investing.Have a written financial plan and clear goals.Communicate with family and collaborate on financial decisions.Regret 6: Not Working Longer (37% regretted)Working longer allows for more earning, saving, and delaying Social Security.Can decrease mortality risk, sustain cognitive function, and provide social interaction.Consider personal circumstances and preferences when deciding.Regret 7: Underestimating Retirement Length (associated regret increase)Average life expectancy doesn't account for the likelihood of living longer.Prepare financially for the possibility of a longer retirement.Remember, learning from others' regrets can help us make better financial choices. Stay tuned for more episodes on navigating an abundant retirement.Sources:National Bureau of Economic Research, 2022U.S. Census Bureau, American Community Survey, 2017U.S. Department of Health and Human Services, Office of the Assistant Secretary for Planning and Evaluation, April 2019AARP, 2021Center for Retirement Research at Boston College, 2021Center for Disease Control and Prevention, Mortality in the United States, 2021

Welcome back to Navigating an Abundant Retirement Radio! This week, we'll be talking about the common mistakes that people make when rolling over their 401(k) and how to avoid them.You probably have at least one traditional retirement account, such as a 401(k), 403(b), or IRA. The tax treatment of traditional retirement accounts is the key difference between these accounts and regular ones. With a traditional retirement account, you get a tax deduction on the front end, allowing you to contribute the full amount without paying income taxes. The account also provides a tax deferral, which means you won't owe taxes until you withdraw the money, allowing the account value to grow more quickly.401(k)s are one of the most common retirement accounts, and if you're listening today, you likely have one or more. Although 401(k)s are flexible and give you choices as you go through life, people often make mistakes when it comes to rolling over these accounts. Today, we'll cover important information about 401(k) rollovers and potential mistakes.One of the biggest mistakes is cashing out your 401(k) when you leave your employer. Doing so will not only result in taxes and penalties but also the loss of years of potential tax-deferred growth. A better option is to roll over your 401(k) into a new 401(k) or an IRA. If you choose an indirect rollover, you have only 60 days to deposit the money into another qualified retirement account, which can be risky. Instead, a direct rollover is your most mistake-proof option.If you make an early withdrawal from a 401(k), you'll end up with much less than you think due to taxes and early withdrawal penalties. Only a few exceptions, such as becoming permanently disabled or splitting the 401(k) with your spouse during a divorce, allow you to avoid the early withdrawal penalty.In conclusion, understanding and following the rules of retirement accounts are essential to avoid potentially expensive mistakes. Downloadable Offer:Guide to Avoid 401(k) Mistakes 2023

In this episode, Carol delves into the risks and benefits of a federal digital currency, particularly the issue of centralized government control of banks.Carol starts by defining the problem at hand and outlining the effects that a federal digital currency could bring, including government surveillance of purchases, real-time tracking of payments, digital ledgers on phones, and centralized government control of banking. She highlights the potential impact on privacy, cyberattacks, and individual liberties.One of the major concerns she identifies is the centralized government control of banks, which could stifle innovation and competition, leading to a less efficient financial sector. Carol highlights the potential economic instability and loss of investor confidence that could result from the government's misuse of power.To mitigate the risks associated with centralized government control of banks, Carol suggests various measures such as strong security measures, privacy regulations, decentralized systems, transparency, education and awareness, and international standards.Carol concludes by highlighting the potential impact on retirement, particularly the risk of inflation, which can erode the value of retirement savings and impact the purchasing power of retirees.Overall, this episode provides a comprehensive overview of the risks and benefits associated with a federal digital currency and the measures that can be taken to ensure its safe and responsible use.

In this podcast episode, the Carol discusses the recent failure of Silicon Valley Bank and whether people's money is safe in banks and insurance companies. Carol mentions that if you have less than $250,000 in your bank account, you have nothing to worry about because the US government insures the first $250,000 in eligible accounts. However, many Silicon Valley Bank customers had more than $250,000 deposited and can't access their money. She then compares the number of bank failures to insurance company failures and explains that insurance companies are generally more secure due to state laws and guarantee associations that provide protection for policyholders. Finally, Carol shares information about the guarantee system for insurance companies in each state, which offers protection for policyholders up to a certain amount."if you have less than $250,000 in your account, then you almost certainly have nothing to worry about" - Carol Dewey "the government is going to step in and essentially insure all the depositors beyond the regular limits of insurance" - Carol Dewey "there are really only three main places people can put their money; the banks, insurance companies, and Wall Street"To receive the benefits of a valuable fiduciary second opinion, a Net Retirement Income Analysis, a Social Security Maximization Report, a Blueprint of your current portfolio, a Tax Consultation through the 4 stages of retirement or an Estate Planning Review... schedule your consultation now. There's no obligation! (https://www.talk2carol.live/schedule-retirement-revitalization-consult)

On this episode of Navigating an Abundant Retirement Radio, host Carol Dewey shares her passion for legacy planning and how it goes beyond just leaving assets behind. She tells the story of her family's legacy, including the success and eventual downfall of her great, great, great grandfather's print and book binding business. Carol emphasizes the importance of communication and planning in order to avoid mistakes that can cause financial stress and family turmoil. She also highlights the significance of leaving behind family values, virtues, and traditions. To assist her clients in reaching their estate and legacy planning goals, Carol works with her son-in-law, an estate planning attorney, and has all necessary advisors under one roof for better communication and results. Tune in to hear an interview with Carol's son-in-law on the Legacy Leaders Podcast, where they discuss estate and legacy planning strategies and objectives. Carol believes that legacy planning can mean different things to different people, from leaving a financial legacy to worthwhile organizations, to leaving an inspirational legacy through sharing a life well-lived. As Carol says, "There's no reason that that company shouldn't still be thriving today."

Welcome back to Navigating an Abundant Retirement Radio. This week we are going to talk about economic conditions, why I believe the 60/40 portfolio is dead, and what you can do to be in a better position to take advantage of times like what we are experiencing today.Mentioned in this EpisodePerspective on US Government Debt73% Inflation in TurkeyThe Federal ReserveMedical CareThe Hidden AgendaPaul Volcker100 years of the 60/40 PortfolioTom HegnaThe Financial Times“There Is No Alternative” TINA REIT InvestmentsFavorite Quotes "In times like these, of great uncertainty, when your broker is telling you to just hang in there, it’s going to be okay. I say, there is no bad news and there is no good news, there is the only news." - Carol Dewey“Let me try to put into perspective how much money this is. If $1 equals one second, a million dollars equals about 11 and a half days, a billion dollars equals 32 years, but a trillion dollars equals 32,000 years, got it? And 31 trillion is 992,000 years that’s $1 per second for 992,000 years. It's a lot of money.” - Carol Dewey“The theory behind the 60/40 portfolio (60 percent stocks and 40 percent bonds) has been a standard strategy for investors, and for good reason. It is designed to balance growth and risk, with both allocations growing over time while offsetting each other. When stocks are up, bonds are down, and vice versa.” - Carol DeweyEngage with Carol DeweyWe invite you to get the answers you need about your financial plan in one of our exploratory meetings. To receive the benefits of a valuable fiduciary second opinion, a Net Retirement Income Analysis, a Social Security Maximization Report, a Blueprint of your current portfolio, a Tax Consultation through the 4 stages of retirement or an Estate Planning Review… schedule your consultation now. There's no obligation! (https://www.talk2carol.live/schedule-retirement-revitalization-consult) …ARTICLES:A Massive Liquidity Drain May Push Stocks Lower JP Morgan CEO Jamie Dimon Warns An Economic Disaster May Be Looming Jeff Bezos is the latest to warn on the economy, saying it’s time to ‘batten down the hatches’ Elon Musk Makes Gloomy Prediction About the EconomyAlmost two-thirds of economists think the...

Welcome back to Navigating an Abundant Retirement Radio. As the sun sets on your career and every day is about to become Saturday, you will be faced with issues such as: how to effectively take required minimum distributions (RMDs) from your traditional IRA or 401(k), when to start taking Social Security, how Social Security payments are taxed, whether to convert your traditional IRA to a Roth, how to recover from a bear market (one of our topics in the last episode), finding good alternatives to low-yielding CDs or savings accounts, and how to come up with a creative way to leave a legacy to your grandchildren and great-grandchildren. Another timelier issue is that of inflation and last week we received confirmation that those receiving Social Security would receive the biggest COLA increase since 1981.Mentioned in this EpisodeCongress has COLA increases pegged to rising inflationConsumer Price Index (CPI)Social Security Benefits TaxAnnuityBaby Boomer DilemmaFavorite Quotes "While there’s been a great deal of talk about inflation this year, the increase depends on the much-anticipated official numbers: the third quarter’s Consumer Price Index (CPI) is measured against the CPI of the previous year, and the COLA is calculated from that.." - Carol Dewey“As a financial advisor, I have helped many seniors reduce or completely eliminate the taxation on their Social Security benefits – simply by moving tax-free bonds or CDs just sitting in the bank into deferred or income annuities. If you have a large pension or other income from an asset that cannot be moved into an annuity, you will likely be paying taxes on up to 85% of your Social Security benefits.” - Carol DeweyEngage with Carol DeweyWe invite you to get the answers you need about your financial plan in one of our exploratory meetings. To receive the benefits of a valuable fiduciary second opinion, a Net Retirement Income Analysis, a Social Security Maximization Report, a Blueprint of your current portfolio, a Tax Consultation through the 4 stages of retirement or an Estate Planning Review schedule your consultation now. There's no obligation! (https://www.talk2carol.live/schedule-retirement-revitalization-consult) Watch the Baby Boomer Dilemma Movie here: https://learn.perpetualwealth.info/boomer-movieSocial MediaLinkedInVisit our websitewww.perpetualwealthfinancial.com Subscribe and stay in touchApple Spotify

Welcome back to Navigating an Abundant Retirement Radio. This week you will find out why Carol is so fired up, how to repair bear market damage, and deal with market risk.Mentioned in this EpisodeTax arbitragerFixed AnnuityFixed-Period immediate income annuityLifetime income annuityFavorite Quotes "Money is an extension of people’s energy, their stored value…and it is being devalued in so many ways." - Carol Dewey“Without the right information, strategy, team, or collaboration, most people make the mistake of letting the tax tail wag the dog…. meaning, they do things for tax deductions they wouldn’t otherwise do AND it confiscates and destroys wealth.” - Carol Dewey“Annuities are simply a risk management tool. Annuities are not bad but there are “bad” annuities. When it comes to market risk – manage it, put a floor under it, or eliminate it!.” - Carol DeweyEngage with Carol DeweyGet the answers you need about your financial plan in one of our exploratory meetings. To receive the benefits of a valuable fiduciary second opinion, a Net Retirement Income Analysis, a Social Security Maximization Report, a Blueprint of your current portfolio, a Tax Consultation through the 4 stages of retirement or an Estate Planning Review schedule your consultation now. There's no obligation! https://www.talk2carol.live/schedule-retirement-revitalization-consult LinkedInPerpetual Wealth Financial WebsiteVisit our website:www.perpetualwealthfinancial.com Subscribe and stay in touchApple Spotify