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Big Picture Retirement

Updated 5 days ago

Rank #148 in Investing category

Business
Investing
News
Business News
Read more

If you are planning for, or living in, retirement…this is the show for you. Understanding the big picture is critical for a successful retirement. Whether or not your retirement is a success may depend on how well you planned when connecting the dots of your legal, tax and financial plan. In this show, we’ll dig beneath the surface and discuss how you should apply this planning with your hosts- attorney John Ross and financial planner Devin Carroll.

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If you are planning for, or living in, retirement…this is the show for you. Understanding the big picture is critical for a successful retirement. Whether or not your retirement is a success may depend on how well you planned when connecting the dots of your legal, tax and financial plan. In this show, we’ll dig beneath the surface and discuss how you should apply this planning with your hosts- attorney John Ross and financial planner Devin Carroll.

iTunes Ratings

225 Ratings
Average Ratings
193
14
8
4
6

Great at Explaining

By Robmf24 - Sep 26 2019
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These guys are really good at making important complicated concepts more understandable.

Great Retirement Perspectives

By Soon-to-retire - Jun 30 2019
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Excellent podcasts-really enjoy the style and information

iTunes Ratings

225 Ratings
Average Ratings
193
14
8
4
6

Great at Explaining

By Robmf24 - Sep 26 2019
Read more
These guys are really good at making important complicated concepts more understandable.

Great Retirement Perspectives

By Soon-to-retire - Jun 30 2019
Read more
Excellent podcasts-really enjoy the style and information

Listen to:

Cover image of Big Picture Retirement

Big Picture Retirement

Updated 5 days ago

Read more

If you are planning for, or living in, retirement…this is the show for you. Understanding the big picture is critical for a successful retirement. Whether or not your retirement is a success may depend on how well you planned when connecting the dots of your legal, tax and financial plan. In this show, we’ll dig beneath the surface and discuss how you should apply this planning with your hosts- attorney John Ross and financial planner Devin Carroll.

Rank #1: #091: Retirement Drawdown Strategies Part 1

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When you stop working, you've put aside some money into different types of accounts, and maybe you have a pension, or some rental property, or other investments. How do you start converting those assets into an income stream that will last for the rest of your life?

Brandon Renfro, Ph.D., joins Devin on a discussion about:

  • The tax torpedo
  • The Net Unrealized Appreciation Rule
  • Provisional income and how much of your Social Security is taxable

For more details, visit the show notes at https://www.bigpictureretirement.net/091

Sep 24 2018

30mins

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Rank #2: #049: How Millionaires Handle their Money, with Joe Saul-Sehy

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People who are millionaires have respect for a dollar, and they cut expenses that don’t add value to their lives. 

Joe Saul-Sehy was a financial planner for 16 years, and he has observed some interesting things about how millionaires handled their money. He says it’s not discipline, it’s about seeing something good that happens, then making it automatic.

  • Other takeaways from this episode:
  • Automate important tasks
  • Know that there’s a big difference between planning for tomorrow vs. planning for the long-term
  • Improving revenue AND decreasing the costs go hand-in-hand
  • Knowledge doesn’t pay – action pays

For more details, go to the show notes at http://www.bigpictureretirement.net/049

Dec 04 2017

31mins

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Rank #3: Market Update March 2018

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Devin brings on special guest Andrew Comstock to talk about what's going on in the market and what we can expect moving forward

Mar 30 2018

9mins

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Rank #4: #023: How Much Do You Need in Retirement? Use this online calculator to find out.

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Steve Chen created a retirement planning calculator that anyone can use. The inspiration came from personal experience. His mom needed help at retirement - but she didn't have enough assets to work with most financial planners.

Steve from NewRetirement.com discusses financial planning needs for those who aren't "attractive" to financial planners. For more information, visit http://www.bigpictureretirement.net

Jun 05 2017

21mins

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Rank #5: #038: Protecting Your Assets From Lawsuits and Other Liabilities

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If you've put together a little bit of money, or you have a regular stream of income, it's reasonable to be concerned about protecting those assets from lawsuits or other types of liability.

Today, John explains some of the simple steps you can take to put some protections about the money that you have.

First, consider what type of liability you might face. Second, consider what assets might be at risk. Third, check out your insurance coverage.  Fourth, separate your business assets from your personal property, and figure out the right tool for each object.

Highlights include:

  • What assets or income are protected How your insurance coverage factors into the decision
  • Different strategies for business vs. personal assets
  • How a revocable trust doesn't provide protection
  • How Delaware changed the rules
  • Bonus:  John explains the history of trusts - using Devin in his story

For more information, visit http://bigpictureretirement.net/038

Sep 18 2017

30mins

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Rank #6: #060: Should You Buy Long-Term Care Insurance?

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Should I buy long-term care insurance? Should I keep the long-term care insurance I already have? These are important questions, and there are no easy answers. Long-term care is expensive, but long-term care insurance is also expensive. When you start looking at some of the statistics, it can get scary. But thankfully, the statistics don’t show the whole picture. Once you consider all the issues and factors, the big question is managing the risk of needing financial assistance with long-term care vs. how much it is going to cost to manage the risk. There are three ways to pay for long-term care: 1) Self-funding through personal assets 2) Through access to government benefits, either VA benefits or Medicaid 3) Long-term care insurance For more information, visit the show notes at http://www.bigpictureretirement.net/060

Feb 19 2018

40mins

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Rank #7: #034: How to Avoid a Bernie Madoff-Type Scam

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There are few things worse than getting involved in a financial scam.

Unfortunately, there are always some people who will abuse their professional status, and use their knowledge to rip people off.

How can you avoid being scammed?

Things to look for in a financial advisor:
  • Find someone who uses an independent custodian with a solid reputation. To whom are you writing the checks?
  • Check out the firm on the Securities and Exchange Commission website.
  • Research the individual via the Financial Industry Regulatory Authority (FINRA) Broker Check and the Investment Adviser Public Disclosure (IAPD) search function.
  • Question anyone who gives you a guaranteed return, unless it is quite low.
Things to look for in a legal advisor:
  • Check your state bar's disciplinary action history.
  • Get your agreement in writing, including the fees that will be charge for the service recommended.
  • If you pay any money upfront, how is it accounted for?
  • Are they working inside their field of expertise?

Do you have a question for a future Listener Questions episode? Submit it to questions@bigpictureretirement.net

Aug 21 2017

32mins

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Rank #8: #002: Jacob and Esau

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John shares the story of Jacob and Esau from the Bible to describe one of the most common mistakes people make in retirement. Please subscribe to the show so you don't miss an episode. For more, visit http://bigpictureretirement.net

Jan 03 2017

26mins

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Rank #9: #077: 5 Smart Reasons to FIle Early for Social Security

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Devin talks about good reasons to file for Social Security at age 62.

Every situation is different, and some folks will benefit more if they file later, but there are many people for whom it makes sense to file early:

  • You need the income
  • You Are Single and Have Health Issues
  • Issues Related To Your Spouse’s Benefits
  • Survivor Benefits
  • Minor or Disabled Children

For more information, visit the show notes at http://www.bigpictureretirement.net/episode-77-5-smart-reasons-to-file-early-for-social-security/

Jun 18 2018

25mins

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Rank #10: #036: All About Bonds with Dr. Brandon Renfro

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Dr. Brandon Renfro, a PhD in behavioral economics, talks about bonds: When they're right for you and when they should be reconsidered.

Brandon does a great job of explaining different types of bonds, why they are considered a good investment, and how our current low interest rate situation changes the value of bonds as part of your portfolio.

For more information, visit http://bigpictureretirement.net 

Sep 04 2017

30mins

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Rank #11: #061: What’s The Best Age To File For Social Security

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As you approach your 60s, the hot question becomes, “When should I file for Social Security?”

It’s an easy question, right? You just figure out when you’re going to die, and then do the math.

Unfortunately, the world doesn’t work like that.

Devin points out that the real question should be, “What if I live longer than expected?

For more information, visit the show notes at http://www.bigpictureretirement.net/061

Feb 26 2018

27mins

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Rank #12: #042: What Medicare Covers, and What It's Going To Cost

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Understanding Medicare is an important part of your overall retirement planning, but it's so confusing and complicated!

Devin and John share the different parts of Medicare and what they cover.

More information can be found at http://www.bigpictureretirement.net/042

Oct 16 2017

34mins

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Rank #13: #090: 5 Social Security Mistakes With BIG Consequences

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There are a few areas within Social Security that you could mess up without even meaning to do things wrong.

One of my most trusted mentors has often told me, "Big doors swing on little hinges."

I've found that to be applicable to many things in life and it's certainly true in retirement planning. The small decisions you make, when stretched over long periods, can have big consequences.

Here are the 5 Social Security mistakes that can cost you dearly when you retire.

There's more to learn at http://www.bigpictureretirement.net/090

Sep 17 2018

21mins

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Rank #14: #044: Psychology, Passive Income, and Your Freedom Number With Clayton Morris

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Clayton was shaped by the money experiences of his childhood, particularly his father’s job loss.

After some financial challenges, Clayton and his wife decided to figure out how to build an income that isn’t tied to their jobs working for someone else.

They decided to buy rental properties to create income to cover their monthly income needs, what Clayton calls his “freedom number.”

Highlights include:

The importance of figuring out how much money you need each month

How real estate might be part of the right solution to meet your freedom number.

For more information, visit our show notes at http://www.bigpictureretirement.net/044 

Oct 30 2017

29mins

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Rank #15: #018: The Basics of Social Security that EVERYONE Should Know, Part 2

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In Part 1 we covered credits, earnings limits, and more.

In this episode we finish the series by talking about: Length of marriage rules Spousal Benefits vs Survivor Benefits How you are taxed on social security benefits and more.

If you haven’t listened to Part 1, find it here: http://www.bigpictureretirement.net/episode-17-part-1-social-security-basics

May 01 2017

28mins

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Rank #16: #003: Listening to Gurus, with Joe Saul-Sehy

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Who do you listen to for financial advice? Dave Ramsey? Sure Orman? Jim Kramer? Joe Saul-Sehy, a recovering Financial Planner and host of Stacking Benjamins joins us to talk about when it's the right time to follow the gurus - and when it's not. He also shares stories from his biggest failures in life to show that he's been right where you are - or worse. Today's show is brought to you by http://SocialSecurityIntelligence.com

Jan 16 2017

36mins

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Rank #17: The 5 Types of Trusts (and when they are used)

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A trust is a legal entity, just like a corporation or an individual person. All trusts will have an exchange of property and three categories of people:

  • The people who create it, called the grantors, or the settlers, or the trust-makers
  • The people in charge of the trust, usually called the trustees
  • The beneficiaries: the people who get the benefit of the trust

Devin and John go over the different types of trusts and when to use them.

For more information, visit the show notes at https://www.bigpictureretirement.net/108 

Feb 18 2019

47mins

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Rank #18: #004: Listeners Questions - Wills vs Trusts, and is there any truth behind the Social Security Gun Ban

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What is truly behind the so-called "social security gun ban"? Also, John digs into the differences between a will and a trust.

For more, visit http://bigpictureretirement.net

Jan 23 2017

30mins

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Rank #19: #010: Get Organized - How to Improve Your Chances for a Successful Retirement

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7 doable steps for making it easier to be organized with your retirement finances. One of the biggest hurdles to a successful retirement is getting - and staying - organized. It’s easy for account statements, legal forms and other important documents to pile up in some hidden away desk or drawer. Before long, things are messy. Not just physically messy, but mentally messy too. To accurately plan for an awesome retirement, you need to first clean up the mess. Topics we cover in today's episode:

  • Streamline your accounts and Go Paperless
  • Verify your Social Security Earnings have been recorded
  • Create a Master File

And John talks about the best way to store passwords. The answer may surprise you! For a complete description of the seven steps and list of important documents to keep safe, visit http://www.bigpictureretirement.net/finances-organized

Have a question for the show? Send it to questions@bigpictureretirement.net

Mar 06 2017

37mins

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Rank #20: Spring Cleaning - the Financial Edition

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Spring is here, and it's a great time to do some financial spring cleaning. Devin and John go over a few things you want to do:

  • A fee audit
  • Double-check your beneficiary designations.
  • ...and more

For more information, visit the show notes at https://www.bigpictureretirement.net/111 

Apr 01 2019

36mins

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