How complete is your retirement plan? 19 questions for you to answer. Did you miss anything?

[@comingshortly]

I am DIY with a pad of paper and a calculator. Works for me.

[@johnnyfive1412]

A fancy techy calculator? I use an abacus.

[@Mr.T98765]

Good common sense advice as usual. Thanks, Joe!

[@PeterO8866]

Great video - great checklist for any retirement prep fan….could be the chapter titles of a great book! #10 really hit home - everything is easy while market skyrockets and new highs every other week. But when the inevitable dip/crash occurs having controls (eg. bucket #1, professionally created plan) in place can hopefully avoid those panic/emotional reactions. Thanks Joe.

[@ericvannier8609]

Neal is great … scheduled a 20 minute meeting … I sent Neal 3 slides that summarized my unique situation (everyone’s unique) … at the start of the call It was obvious that Neal not only looked at the information but he studied it and had questions ready for me … it was a very interactive conversation and we actually went 30 minutes …… Neal is HONEST he clearly told me to stay the course, keep doing exactly what I am doing for two more years then we should revisit to see if it was time to engage … main reason is because my situation involves a business transaction so there are several variables and in two years we will be very close to what the transition will look like …… I will certainly be calling and engaging Neal in the future …

[@TheTheElindgren]

Thanks so much, Joe. This is very helpful.

[@EatLeadPal]

Your channel was one that I used to decide to retire early at 62. I have already set up and paid for my funeral. I just created a trust and moved all my assets into it. I did my first Roth conversion this year and am waiting to take SS later to keep my income low. Can't get away from the IRMAA impact though. I don't use a CFP because I've had bad experiences. I manage my own investments and have made 35% returns in the past 12 months. I also use Boldin based on your recommendation. Thanks!

[@joekuhnlovesretirement]

Well done

[@dianediliberto1876]

Thank you, Joe.

[@roberthussman8891]

Great checklist - tax optimization for the future and minimizing investment risk are two areas I will be doing additional research on to confirm for my overall plan. If and when I get to the point that I will have RMDs, I will do QCDs, and I really focused in my working life on ROTH (52% of estate is in ROTH or HSA). I did a CRUT in the past, and may do more based on actuarial schedules, and will look at more opportunities to give to charity while managing taxes. Potentially a video on tax optimization and the things you have done to position yourself well would be helpful. Thanks again for the great content, in a recent Bigger Pockets video one of the hosts was talking about your channel, always interesting!

[@DionTalkFinancialFreedom]

Thank you. 😀

[@davidgold6407]

1. What is your plan for your budget, and health care options? 2. What is your withdrawal plan - when market is up, or down? 3. How do your assets work with your income - pension, Social Security, rentals etc.? 4. Where is your best asset to take money from "now"? 5. What is your tax plan long-term, clear vision of your future tax brackets - consider Roth conversions? 6. When is the best time for you to take Social Security, and how it helps with your taxes, RMD, etc.? 7. What investments do you have to protect you from inflation? 8. What is your plan to go from accumulation / maximizing returns, to safety in retirement? 9. What is your long-term care plan? 10. What is your plan to manage market volatility? 11. What is your estate planning, transferring assets to heirs, minimizing taxes? 12. Are your trusts and beneficiaries lined-out? 13. Do you understand the how and when of Social Security, how to apply, when to apply? 14. Do you understand the how and when of Medicare, enrollment, choices, "Advantage" and how it impacts income and expenses? 15. Do you have expert advice available for complex items - divorce, inheritance, sale of business? 16. Do you have a plan for any special needs, family member? 17. Do you have a plan for reducing financial stress? 18. Does your plan have customized advice for what you want - examples of ending amount, how much giving? 19. Does your plan let you retire with confidence?

[@BadPhD777]

Thanks for posting the list! Joe should hire you 🙂

[@davidgold6407]

@@BadPhD777 I hope the summary did justice to his list.

[@davidgold6407]

@@BadPhD777 plus I hope it helps people

[@joekuhnlovesretirement]

joe is cheap and retired.

[@greg54444]

1F 2F 3F why go on? I’m destined to work to 75 apparently. But thanks because my next CFP meeting needs to be a lot more in-depth and these questions will help.

[@robertneville2022]

If you want to retire just retire its not rocket science

[@donnymac575]

I'm starting to think the same and starting to limit my watching of retirement advice videos, repeating the same message over and over again. I know many retirees who don't even know what the 4 percent rule is and they have a successful retirement. A local financial advisory firm wants $1,500 to tell you if you have enough to retire.

[@skepticalmechanic]

@@donnymac575Agreed!

[@dbdouglas]

No, you and I both need 14 buckets, with specifically determined % in each, to be updated every single quarter, without fail. Etc! 🤣

[@dgun6924]

good to find someone who has figured it out, my question is why would one do a roth conversion, and if you do a conversion what strategy is best? 1.highest ending estate value 2.tax bracket limits 3.lowest lifetime tax liability 4.IRMAA tax brackets 5.one I'm not aware of thank you in advance for your expertise.

[@rubicon3416]

The gov money printer is the most important piece for all of our retirements. If it runs out of asset pumping ink, we're all in deep trouble.

[@Uno-u9o]

Any intelligent person checks various choices, looks for pluses and negs of all to find the best. To many CFA's, etc., are either uneducated or have forgotten the old ways used to prepare for retirement and oblivious to the adverse effects of applying today's way to those kinds of portfolio. Only actual educated clients, will know someone is lacking in it. Or if the CFA's, etc, are being less obvious about how taking out company costs/fees. Not always in $$.

[@BillMaass]

Joe, you are my guide…well at least one of them. Question - When calculating my net worth, let’s say I purchase an annuity for $200k … does my net worth go down or stay the same? In other words, is the annuity considered an asset or not? I will have a follow up question if the annuity is considered an asset. Thanks for your content and guidance (since you are my guide).😀

[@joekuhnlovesretirement]

Yes in NW. it has a value

[@BillMaass]

@@joekuhnlovesretirement I agree. So, I submit that I own an annuity called my Social Security benefits. I “bought” my SS annuity via payroll contributions. Further, I can go to the Open Social Security tool and it calculates the Present Value of both my annuity and my spouse’s, if married. It seems to me that PV of my SS annuity should be included in my net worth. I think this is a blind spot that is missed by even “experts” especially when some look at safe withdrawal rates such as the infamous 4% rule. Since my plan includes delaying my SS annuity payments until age 70, I will need to withdraw a higher rate from my non-annuity assets in the short term. And that is OK. Once my annuity payments start, I will be drawing a lower rate from my non-annuity assets. On a different note, I also feel my net worth should include a liability for deferred taxes. In other words, the estimated taxes owed on tax deferred retirement accounts. I realize this is more difficult to estimate but provides a way to identify that $x in a Roth account is more valuable than the same $x in a tax deferred account. I think the fact that Uncle Sam is a silent partner in tax deferred accounts is missed too often and can lead to some bad surprises.

[@laryhub]

Joe, we are on here to get ideas on how to plan our retirement, not to watch a commercial on hiring a professional.

[@joekuhnlovesretirement]

It’s the right decision for 30%. 95% of videos for DIY. I get asked to make some content for those planning to use advisors

[@johnsivak2774]

For number 4, what tool do people use to make short term decisions on what assets to sell or spend for optimum taxes for that year? I have not found anything that looks at the whole portfolio and provides solid recommendations.

[@joekuhnlovesretirement]

I form a plan at the beginning of year just in excel. Each quarter decide if need to adjust

[@joefullam]

Question for Joe, with the bucket approach you use, do you reinvest dividends in your long term growth bucket funds or do you take those as part of income each year? We are retiring the end of 2025 and I'm getting everything setup in our Vanguard accounts to prepare. I've read taking dividends is more tax efficient, but with growth buckets, it seems like it could make sense to reinvest dividends?

[@joekuhnlovesretirement]

I reinvest

[@wisulliv]

Joe's setup may be totally totally different than yours. He reinvests, but you do not know why. It may be in your best interest to take the dividends as income. If you can answer why or why not take the dividends as income then you should have your answer.

[@tjlarson6519]

It also depends if those dividends are derived from money inside or outside of a 401 k/IRA vs brokerage account. They are taxed differently

[@brianduerr6483]

76 out of 100. Not good. 2=A, 1=C, 0=F.

[@peardisplay]

at 32 min ago. and 5 th like.

[@peardisplay]

oh im no 1 comment!!!!

[@Rickmac22]

Math is hard.

[@Rickmac22]

How can you possibly KNOW what tax bracket you will be in 20 years from now...? They will change... This exercise is silly...

[@Rickmac22]

How can you KNOW: Inflation Tax rates Your specific health Long term care pricing 5 10 20 years from now??? All this is pure speculation... I really am coming to believe that all these financial channels just want you to feel powerless/fearful unless you hire a 23 year kid with letters after his name that presumes he/she can accurately predict your exact future for 1.5% of your hard earned savings!

[@DPTrainor1]

Thank You.