Retirement Planning Is Harder Than It Used To Be (Part 1‪)‬ Plan With The Tax Man

Every generation likes to talk about how much harder things used to be when they were kids. Like all of thepeople who used to have to walk five miles to school, in the snow, uphill both ways. But they had at leastone thing that was EASIER…and that was retirement planning. Let’s talk about why on today’s episode.
 
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Transcript: 
Marc Killian  00:01
Every generation likes to talk about how much harder things used to be when they were kids. You know, we've all gone uphill both ways to school in the snow, all that good stuff, right? But we want to make sure that we're talking about the things we need to do for retirement planning. And is it truly harder than it used to be? So that's going to be our podcast for the next couple episodes. Right here on plan with the tax man with Tony Morrow. Look up in the sky. It's a bird. It's a plane. No,
 
Announcer 2  00:27
it's the tax man. He may not be a superhero. But Tony Morrow has saved many retirement plans with his extreme knowledge of tax planning strategies. It's time for a plan with the tax man.
 
Marc Killian  00:40
Hey, everybody, welcome into the podcast. Tony and I are here to talk investing finance, retirement and retirement planning. Is it harder than it used to be? So we're going to break this into we get 10 points that we're going to cover over the next two episodes. We're going to break this into five and five atony and talk about these a little bit. And just see is it that that last couple of miles you know, like I said, the uphill going into snow both ways to school. So my dad used to tell me right, he's like, he's like, You guys have it so easy. I used to walk uphill both ways. I was like, wait, what? Yeah, go uphill both ways. What's going on my friend how you doing this week?
 
Tony Mauro  01:16
I've been good. You know, as we're recording this starting tax season, and it's kind of a weird thing, because our weather is was very, very cold. And we got a lot of snow and now it's all gone. And it's 60 degrees as we're taping this so it's weird. It's a weird February's Yeah,
 
Marc Killian  01:31
really? Yeah, you're warmer than I am today. If you're 60 right now, so I'm, like 52 here. And I'm in the south. So go figure, right?
 
Tony Mauro  01:39
Yeah, it's just odd to see the sun and this in February, we hardly ever get this. I'll
 
Marc Killian  01:44
take it and enjoy it. Right. Right. Right, take it and run with it. Well, I hate talking about the snow, right? So at least you gotta get rid of some of that with that sun. So enjoy it while you can. Well, let's dive into it. And like I said, we're gonna break this up into five and five. So we'll do the first five here and and see what, you know, our things are things harder now. Right. I think in some ways, they definitely are. And I think in others, we might see that there is some easier things, but it's all a matter about having a strategy and a plan that will I'm sure that's going to be obviously the overarching theme here. But let's jump in, let's start with the first one job stability and company loyalty, clearly way different now than what it was for our, you know, I mean, we're gonna we're in our 50s. So clearly different than it was for our parents or even our grandparents, for sure. That's
 
Tony Mauro  02:28
true. Yeah. And the reason that is, is because, you know, back in our parents days, and grandparents, you went to work for somebody for your entire career, you know, and a lot of times that was a goal, right? Yeah, that was that was it. And so people stayed at the same job. And I don't meet too many either on the tax side, or the financial planning side that have I mean, I've been with not only just maybe one or two employers, many, many that get into their 50s. They've been with 1015, sometimes more over their career. And so that's leads to a lot of I would say that that makes it a little h