Spending in retirement might sound simple, but it can be quite challenging. In this article, we’ll explore why retirees often struggle to spend money, even when their financial plans say they can. We'll discuss fears of running out of funds and the impact of market volatility. Plus, we’ll share practical ways to create a clearer spending framework, so you can enjoy your money without second-guessing every purchase. Understanding the Challenges of Spending in Retirement When y

Worrying about retirement usually isn’t about money alone. It’s usually about uncertainty and losing control. In this video, we’ll explain why people who’ve saved a lot of money can still feel like they don’t have enough. The goal is to turn retirement from a scary question mark to a plan that you can actually manage. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook:...

In this episode of Friends Talk Financial Planning, Bridget Sullivan Mermel and Luke Van de Loo about a change that could be happening for America’s retirement system. If private equity starts to make up portions of 401(k) plans, here's what you should know. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook.com/friendstalkfinancialplanning TRANSCRIPT: Bri

Does the 4% withdrawal rule still work in today’s retirement landscape? You’ll learn how inflation and market volatility have challenged the original estimates that created this popular retirement rule. We’ll compare the 4% rule to newer withdrawal strategies that adapt to changing markets and retirement needs. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.fac

What should you know about the tax law changes for 2025 and 2026? In this episode of Friends Talk Financial Planning, John and Bridget discuss the new tax law changes that you should be aware of for the final quarter of 2025 and the entirety of 2026. There are numerous tax planning strategies to consider at this time of year, especially given the recent tax law changes. Don’t miss this opportunity to learn how you can make the most of these changes! Key Tax Law Changes to Con

The Social Security Fairness Act has been reintroduced in 2025 — and it could change retirement benefits for millions of workers. If passed, it would repeal the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), which currently reduce Social Security benefits for those with certain government pensions. In this video, you’ll learn what the bill actually proposes, who it affects, and what’s likely to happen next. I’ll break down how it could impact your r

In this video, we'll talk about how to decide whether contributing to a bad 401(k) plan is worth it. You’ll learn the key factors to consider, including which investment options you should look at. We'll also talk about strategies for minimizing the downsides of a bad 401(k) plan while still preparing for retirement. How we invest our 401(k) video: https://www.youtube.com/watch?v=v9g_uOw8sbU Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - Joh

When the market is up one day and down the next, it can be difficult to know when to take your required minimum distribution. In this video, we break down smart strategies for timing your required minimum distribution withdrawals during volatile markets. You’ll learn how to avoid selling at a loss and how to use bond ladders or fixed income for stability. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.co

In this episode of Friends Talk Financial Planning, we discuss ways to access retirement funds before the usual age of 59½ without paying the standard 10% early withdrawal penalty. Many people assume they’re completely locked out of their retirement accounts until that age, but there are several exceptions worth knowing. One key option is the “age 55 rule,” which allows individuals to take money from a 401(k) or 403(b) plan without penalty if you leave our job at age 55 or ol

In this episode of Friends Talk Financial Planning, we are joined by Denny Heywood, a former Social Security Administration (SSA) employee and consultant, to address public concerns about possible cuts to Social Security. Despite alarming media headlines, there are no current plans to cut Social Security benefits. However, without Congressional action to sustain trust funds, reduced payouts could occur around 2032. Denny explains that potential future fixes may include: 1) R

File now to claim your social security benefit - Don't wait, you could be owed thousands! In this episode of Friends Talk Financial Planning, we are joined by Dennis Heywood, a Social Security expert with over 30 years of experience at the SSA. We discuss the major changes brought by the Social Security Fairness Act, passed in late 2024, which eliminated the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These changes mean increased Social Sec

How do I save for retirement when I'm Self Employed? What are the options for retirement plans? Join us this week as we discuss small business retirement plans. We will explain the different options available and how to make the best choice based on your business's and personal needs. Option 1) SEP (Simplified Employee Pension): A simple, employer-funded IRA plan where employees can't contribute, but the employer makes contributions based on a percentage of employees' wages

Join us today for tips to maximize your spending in retirement when you saved more than you can possibly spend. I'm retired and I somehow have more money than I know what to do with. What do I do and how do I spend more? This is question we get from clients who have saved their whole life and now find themselves in retirement with more money than they can possibly spend. This week on Friends Talk Financial Planning, we discuss strategies for spending more effectively in r

Five signs you are not spending enough money in retirement. Typically we get the question - am I spending too much? However, it is just as important to consider the alternative - am I spending enough? This week on Friends Talk Financial Planning, we discuss the issue of underspending in retirement. While many people worry about running out of money in retirement, some retirees actually have the opposite problem: they aren’t spending enough. As clients enter their 70s or 80s

This week we discuss important changes to 401(k) contribution limits for 2025, particularly for individuals aged 60-63. In 2025, people in this age group will be able to make larger "catch-up" contributions, increasing the maximum amount they can contribute to their 401(k) or 403(b) accounts. The new catch-up limit for these individuals will rise to $11,250, bringing the total contribution limit (including regular deferrals) to $34,750, up from $30,000 in 2024. We will also

Retirement planning for inflation - Don't worry about inflation, be happy in retirement! Many people worry about how inflation will affect their retirement expenses. It may not affect retirement as much as you might think. This week on Friends Talk Financial Planning, John and Bridget discuss the challenges and concerns surrounding inflation in retirement planning. They offer practical insights on how to manage inflation so you don't need to worry in retirement. They will di

In this episode of "Friends Talk Financial Planning," hosts John and Bridget dive into an important aspect of retirement planning: understanding and estimating future spending. They discuss how current spending habits can serve as a reliable baseline for retirement expenses, challenging the conventional advice to look at retirement spending as a percentage of pre-retirement income. John and Bridget explore the concept of the "retirement smile," which describes how spending o

Catch up on retirement savings - it's not too late to start saving today! Do you struggle with saving money? Take responsibility for your finances by starting to save for retirement today! We understand this can be a daunting task, but let go of perceptions, let go of fear, and begin where you are! In this episode of Friends Talk Financial Planning, Bridget and John address concerns for those who are 50 and haven’t saved for retirement. They begin by acknowledging the fear a

I just turned 50. I have $100,000 saved. Do I have enough saved to retire? In this episode of Friends Talk Financial Planning, hosts John and Bridget address a viewer's concerns about feeling behind in retirement savings. They discuss whether it's too late to start saving for retirement at age 50, highlighting that having $100,000 saved is a significant accomplishment. The hosts encourage adopting a positive mindset, emphasizing the importance of celebrating financial mile

Welcome back to Friends Talk Financial Planning! In today’s episode, Bridget and John discuss the strategic world of Roth conversions. Wondering when the best time is to convert your traditional IRA to a Roth IRA? Or maybe you're unsure when it’s better to hold off? We cover it all! Key topics discussed: Ideal times to consider a Roth conversion, especially during low-income years. The concept of "tax bracket arbitrage" and why it’s essential. Detailed explanation of Roth co