Tag: Retirement Planning
Facts vs. Feelings (Ep. 37)

Facts vs. Feelings (Ep. 37)

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Is your financial plan written down? Or do you have a plan in mind but need something more solid? Your plan may need some changes based on current financial circumstances.

In this episode, John Mints explores the importance of creating a financial plan and the potential pitfalls of relying solely on Social Security for retirement. He reveals the need for a written financial plan, understanding one’s financial needs in retirement, and preparing for potential tax increases during retirement.

John and Patrice explore whether the following statements are facts or feelings:

  • 32.9 % of Americans aged 18 and older have no more than $100 in their savings account
  • Only 33 percent of Americans have a written financial plan
  • Can most retirees survive in retirement on Social Security alone?
  • Examining the belief that market crashes recover quickly
  • Will Medicare cover all your medical needs?
  • Will money coming from tax-sheltered retirement plans be taxed at rates lower than when you were working?

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Taxes In Retirement Part 2: Are You Retiring to a Lower Tax Bracket? (Ep. 35)

Taxes In Retirement Part 2: Are You Retiring to a Lower Tax Bracket? (Ep. 35)

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Americans are depleting their excess savings, credit card debt has reached a record high, and student loan payments will resume soon. 

In the previous episode, John Mints discussed the reality of our Government’s spending problem and the complexity of the tax code.

In this episode, he dives further into the Tax Cuts and Jobs Act of 2017 and its effects on individuals and corporations. With the high probability of taxes rising in the future, and most people remaining in the same or higher tax brackets in retirement, he explains the need for proper tax-planning strategies to avoid paying excessive taxes.

John discusses:

  • The impact of the Tax Cuts and Jobs Act of 2017 on individuals and corporations
  • The expiration of temporary tax cuts in the near future and the myth of retiring to a lower tax bracket
  • What we can learn from the history of tax rates
  • The unsustainability of the current debt-to-GDP ratio
  • The only two possible solutions to solve our nation’s debt-to-GDP ratio problem and their implications
  • The importance of proactive tax planning
  • And more!

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The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Biltmore Financial Services Inc. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.