The Fit Wealth Show

Amanda & Shawn Hanquist
  • 4.8 (12)
  • Investing
  • Weekly

The Fit Wealth Show is for business owners who want to turn strong income into real, long-term wealth. Hosted by Amanda and Shawn Hanquist CFP®, founders of Fit Wealth Advisors, this show goes beyond surface-level financial advice. Each episode breaks down how to structure your money, reduce taxes, and build a clear plan that supports the life you actually want to live. We cover: • Personal CFO strategies for business owners • Proactive tax planning (not just tax prep) • Investment strategy and long-term wealth building • Cash flow systems for high-income households • How to know if you’re truly on track for financial freedom If you’re making $300K–$3M+ and want more than generic advice, this is where strategy meets execution.

  1. 3d ago

    158. $10,000 monthly Retirement Income From $1.5 Million

    $10,000/Month Retirement Income From $1.5 Million: The Real Math, the Real Plan (Taxes Included) Can $1.5 million in retirement savings really provide $10,000 a month in retirement income? If you're approaching retirement and wondering whether your savings can support the lifestyle you've worked so hard for, this episode is for you. Withdrawing $120,000 a year from a $1.5 million portfolio means an 8% annual withdrawal rate. That's a potentially risky strategy for a retirement that could last 25 to 35 years. But here's what many people overlook: Your retirement paycheck doesn't have to come entirely from your investments. In this episode of The Fit Wealth Show, we break down how Social Security, investment withdrawals, and proactive tax planning can work together to help you build a more sustainable retirement income strategy. In This Episode, You'll Learn: The real math behind $10,000 a month: Why an 8% withdrawal rate may be too aggressive for a long retirement. How Social Security changes the equation: Why the timing of your benefits can significantly impact your retirement income. How to create a retirement paycheck: A three-bucket approach using cash reserves, income investments, and long-term growth. Why withdrawal guardrails matter: How adjusting spending during different market conditions can help protect your savings. Gross vs. net retirement income: Why $10,000 a month before taxes isn't the same as $10,000 in your checking account. Tax strategies worth considering: How Roth conversions, capital gains planning, and tax-efficient withdrawals may help reduce your retirement tax burden. Two retirement income scenarios: How a $1.5 million portfolio could work alongside Social Security and other income sources to support your retirement goals. Episode Chapters: Jump to What Interests You 00:00 – Can $1.5 Million Really Provide $10,000 a Month in Retirement? 00:30 – The Real Math: Why an 8% Withdrawal Rate May Be Risky 01:30 – Social Security: How Timing Your Benefits Changes Your Retirement Income 02:50 – Portfolio Withdrawals: How to Make Your Savings Last 04:15 – The Three-Bucket Strategy: Creating a Retirement Paycheck 05:35 – Retirement Taxes: The Difference Between Gross and Net Income 07:10 – Two Retirement Income Scenarios Using $1.5 Million 09:15 – Putting It All Together: Your Next Steps Toward Retirement The Bottom Line Retirement planning isn't simply about reaching a certain investment balance or earning a specific rate of return. It's about coordinating your investments, Social Security benefits, withdrawal strategy, and taxes to create an income plan that can support you throughout retirement. Whether you're five years away from retirement or already transitioning out of work, understanding how these pieces fit together can make a meaningful difference. Ready to Build Your Retirement Income Plan? At Fit Wealth, we help your turn your retirement savings into a coordinated financial strategy that considers investments, taxes, income needs, and long-term goals. If you're approaching retirement and want to understand what's realistic for your financial situation, we'd love to hear from you. Visit FitWealthAdvisors.com to introduce yourself and start the conversation. Retire Well. Live Fully.   Advisory services are offered through Fit Wealth Advisors, LLC. d/b/a Fit Wealth, an Investment Advisor in the State of Nebraska. Insurance products and services are offered through Fit Wealth Insurance, LLC, an affiliated company. All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or indication of future results. Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

  2. Oct 27

    157. The Hidden Tax Mistake That Could Cost Retirees $400,000 (And How to Avoid It)

    The Hidden Tax Mistake That Could Cost Retirees $400,000 (And How to Avoid It) Could you be paying more in retirement taxes than you need to—simply because you waited too long to start planning? Many people spend decades saving for retirement, but overlook one important piece of the puzzle: how their retirement income will be taxed once they stop working. As Social Security benefits, required minimum distributions (RMDs), and investment income begin overlapping, retirees can find themselves paying significantly more in taxes and Medicare premiums than they anticipated. In some illustrative retirement scenarios, the difference between proactive tax planning and waiting until retirement income decisions are forced upon you can add up to hundreds of thousands of dollars over time. In this episode of The Fit Wealth Show, Amanda Hanquist discusses one of the most overlooked retirement tax planning mistakes: waiting too long to develop a strategy. You'll learn why the years leading up to and immediately following retirement can present valuable tax planning opportunities—and how decisions made today may influence how much of your wealth you keep throughout retirement. In This Episode, We Discuss: Why waiting until required minimum distributions begin can limit your tax planning opportunities How Social Security, RMDs, and Medicare premiums can create unexpected retirement expenses Why the years between retirement and RMDs may offer valuable tax planning opportunities How strategic Roth conversions may help manage lifetime taxes Why the order you withdraw money from retirement accounts matters The difference between tax preparation and proactive tax planning Three financial planning steps to consider before year-end Why coordinating your investments, retirement income, and tax strategy matters Key Takeaway One of the biggest retirement tax mistakes isn't necessarily what you do—it's when you do it. Waiting until retirement to think about taxes can mean missing opportunities to manage your future taxable income. Whether you're five years away from retirement or already retired, understanding how your retirement accounts, Social Security benefits, and tax situation work together can help you make more informed decisions. The goal isn't simply to minimize this year's taxes. It's to build a strategy that considers your taxes throughout retirement, while supporting the lifestyle you've worked hard to create. ⏱️ Episode Topics Covered 00:00 – The Hidden Retirement Tax Mistake00:35 – Who Needs Retirement Tax Planning?01:15 – Why Waiting Until RMD Age Can Be Costly02:25 – How RMDs, Social Security Taxes & Medicare IRMAA Add Up03:35 – The $400,000 Retirement Tax Example05:15 – Roth Conversions: A Strategy to Consider06:50 – Which Retirement Accounts Should You Withdraw From First?08:00 – Three Tax Planning Steps Before Year-End09:10 – How Fit Wealth Can Help Enjoying The Fit Wealth Show? Be sure to subscribe so you never miss an episode on retirement planning, investing, tax strategy, and making smarter financial decisions. If you found this conversation helpful, we'd appreciate it if you left a review or shared it with someone preparing for retirement. Connect With Fit Wealth At Fit Wealth, we believe retirement planning should be about more than reaching a certain account balance. It's about making intentional financial decisions so your money can support the life you want to live—for years to come. If you're approaching retirement or already retired and wondering whether your financial plan is as tax-efficient as it could be, we'd love to learn more about you. Introduce Yourself: www.fitwealthadvisors.com Instagram: @fitwealth_Website: www.fitwealthadvisors.comPodcast: The Fit Wealth Show — Apple Podcasts & SpotifyYouTube: The Fit Wealth Show   Advisory services are offered through Fit Wealth Advisors, LLC. d/b/a Fit Wealth, an Investment Advisor in the State of Nebraska. Insurance products and services are offered through Fit Wealth Insurance, LLC, an affiliated company. All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or indication of future results. Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

  3. Oct 20

    156. I’m 62 With $1.8M—Can I Retire This Year and Keep Our Lifestyle?

    We’re 62 With $1.8M—Can We Retire This Year and Keep Our Lifestyle? Having $1.8 million saved for retirement sounds like a lot of money—but does it actually mean you can retire? The better question isn’t simply “How much do we have?” It’s “How much can our savings safely provide each month, after taxes, while allowing us to maintain the lifestyle we want?” In this episode of The Fit Wealth Show, Shawn Hanquist, CFP®, walks through how a couple approaching retirement can begin turning a $1.8 million portfolio into an actual retirement paycheck. Rather than relying on one withdrawal rule or portfolio number, Shawn breaks down the different pieces that need to work together—from spending and taxes to Social Security, healthcare, investments, and the critical years between retirement and age 70. In this episode, we cover: Why your monthly after-tax spending need matters more than your net worth alone   How to separate retirement spending into needs, wants, and unexpected expenses   Why the years between 62 and 70 can be some of the most important years in your retirement plan How sequence-of-returns risk can affect retirees who begin withdrawing during a difficult market What the 4% rule can—and can't—tell you about retirement readiness How a guardrail strategy can help create a more flexible retirement paycheck Why $1.8 million in a 401(k) is very different from $1.8 million spread across pre-tax, Roth, and brokerage accounts How taxes can significantly change the amount of money that actually reaches your checking account The tax-planning opportunities that may exist between retirement, Social Security, and required minimum distributions What to consider when planning for healthcare before Medicare Why long-term care should be considered as part of your overall retirement risk plan Can You Retire at 62 With $1.8 Million? There isn't one universal answer. A stronger retirement plan looks beyond the size of the portfolio and asks whether all the pieces work together. Do you know how much you actually need each month after taxes? How will you fund the years before Social Security? What happens to your withdrawals if the market falls early in retirement? Where will your income come from—and how will those withdrawals be taxed? Have you accounted for healthcare, unexpected expenses, and long-term care? And does your investment strategy actually support the income you're expecting it to provide? Those are the questions that turn “I think we have enough” into an actual retirement income strategy. Ready to Build Your Retirement Paycheck? If you're approaching retirement and wondering whether your savings can support the lifestyle you've built, we'd be happy to help you look at the bigger picture. At Fit Wealth, we help clients coordinate their investments, retirement income, tax strategy, Social Security, and long-term financial decisions into one comprehensive plan. Start by introducing yourself at FitWealthAdvisors.com. We'll review what you share and, if it looks like we may be a good fit, you'll be invited to schedule a conversation with our team. Retire well. Live fully.   Advisory services are offered through Fit Wealth Advisors, LLC. d/b/a Fit Wealth, an Investment Advisor in the State of Nebraska. Insurance products and services are offered through Fit Wealth Insurance, LLC, an affiliated company. All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or indication of future results. Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

  4. Oct 13

    155. Maxing Out Your Retirement Accounts (Beyond the 401(k))

    Maxing Out Your Retirement Accounts (and Go Beyond the 401(k))  Episode Overview  You’ve probably heard it before: “Max out your 401(k).”  But for high earners — especially business owners and entrepreneurs — that’s just the starting line, not the finish line.  In this episode, Amanda kicks off our Year-End Tax Strategy Series by breaking down how to use advanced retirement planning tools to save more, lower taxable income, and accelerate wealth building before December 31st.  If you’re earning $300K, $500K, or even seven figures, this episode shows you how to make your money work harder for you.  In This Episode, You’ll Learn:  1️⃣ Why the 401(k) Isn’t Always Enough  2025 contribution limits: $23,000 ($30,500 if over 50)  Why that barely moves the needle for high earners  How to layer additional plans to reduce taxes and grow wealth faster  2️⃣ The $70,000 Opportunity  The combined employee + employer contribution limit for 2025  How business owners can stack profit-sharing contributions  Real example: earning $300K and deducting $70K from taxable income  3️⃣ Cash Balance & Profit-Sharing Plans  How Cash Balance Plans let you save six figures annually — all pre-tax  Why they’re ideal for high-income earners in peak earning years  Using these plans to “catch up” on retirement quickly and legally  4️⃣ The Mega Backdoor Roth  How to move up to $43,500 into a Roth 401(k) in 2025  Why tax diversification matters for long-term flexibility  Building a balance of pre-tax, Roth, and taxable assets  Key Takeaway  If you’re a high earner or business owner, don’t stop at “maxing out your 401(k).”   Start asking:  “What else is available to me?”  Because when you layer your retirement plans strategically, you can:   ✅ Reduce taxes now   ✅ Build wealth faster   ✅ And create more flexibility later    Advisory services are offered through Fit Wealth Advisors, LLC. d/b/a Fit Wealth, an Investment Advisor in the State of Nebraska. Insurance products and services are offered through Fit Wealth Insurance, LLC, an affiliated company. All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or indication of future results. Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

  5. Oct 6

    154. Tax Strategy vs. Tax Preparation

    Tax Strategy vs. Tax Preparation Explained  In This Episode  We’re breaking down the difference between tax strategy and tax preparation — and why that difference could mean six figures in savings over your lifetime.  Many people think they “have a tax plan” because they have a CPA.   But here’s the truth:  Tax preparation is what happens in the spring — you hand over last year’s numbers, and your accountant tells you what you owe.  Tax strategy happens throughout the year — it’s proactive, not reactive — and it gives you control over what you’ll owe next year.  Think of it this way:   Your CPA is the scorekeeper, but your tax strategist? That’s your coach.  At Fit Wealth  This is Shawn Hanquist’s zone of genius — not in a “find the loopholes” way, but in a structured, legal, strategic way that helps high earners minimize taxes and build sustainable wealth.  He teaches clients to stop playing defense and start playing offense with their taxes by using tools like:  Maximizing Retirement Contributions with Cash Balance or Defined Benefit Plans to save well beyond standard 401(k) limits.  Optimizing Your S-Corp Salary and QBI Deduction to strike the right balance between W-2 income and distributions for maximum tax efficiency.  Leveraging Bonus Depreciation to write off qualifying business equipment and vehicles before year-end.  Using Charitable Giving through donor-advised funds or foundations to reduce taxable income while supporting causes you care about.  Taking Advantage of Energy Credits for solar, EV purchases, and home or business efficiency upgrades.  Exploring Oil and Gas Investments for advanced deductions and upfront tax advantages available to accredited investors.  Using Tax Loss Harvesting and Capital Gains Timing to offset investment gains and manage taxes strategically across your portfolio.  For high earners, the difference between planning this way and not?  Sometimes it’s hundreds of thousands — every single year.  Why Most People Overpay  High earners are busy. They’re building and scaling— and they assume their accountant “handles it.”  But when we take a closer look, we often find massive, missed opportunities. Not because anyone did anything wrong, but because no one’s sitting down proactively to say:  “Hey, before December, let’s look at your income, deductions, and investments — and design a plan.”  That’s the real secret of the wealthy:  They don’t wait until April.  They decide in the fall what April will look like.  Biggest Takeaway  If you only think about taxes when it’s time to file them, you’re already too late.   But when you start planning ahead, you shift from just paying taxes to being tax efficient.  Next week, Shawn and I are diving into the first strategy — how to use retirement plans as your tax-saving powerhouse, even if you’ve already maxed out your 401(k).  Thanks for tuning in — we’ll catch you in the next one!    Advisory services are offered through Fit Wealth Advisors, LLC. d/b/a Fit Wealth, an Investment Advisor in the State of Nebraska. Insurance products and services are offered through Fit Wealth Insurance, LLC, an affiliated company. All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or indication of future results. Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

  6. Sep 30

    153. Why Your Financial Advisor Should Check Your Tax Returns

    Does your financial advisor ask to review your tax return every year? If not, you could be missing valuable financial planning opportunities.  Most people think of their tax return as something to file away once tax season is over. But your tax return is much more than a record of what happened last year—it's one of the most valuable planning tools for making smarter financial decisions going forward.  In this episode of The Fit Wealth Show, Amanda and Shawn Hanquist explain why reviewing your tax return is a critical part of comprehensive financial planning and how it can uncover opportunities to improve your tax strategy, investment decisions, retirement planning, and overall financial picture.  In This Episode, We Discuss:  Why your tax return is one of the most valuable financial planning documents you have  The difference between tax preparation and tax planning  What your financial advisor should be looking for when reviewing your return  Tax-saving opportunities that are often overlooked  How your tax return can influence retirement planning and investment decisions  Why coordination between your CPA and financial advisor matters  Questions every financial advisor should be asking after tax season  Key Takeaway:  Your tax return shouldn't be the end of the conversation—it should be the beginning.  When your financial advisor reviews your tax return as part of a coordinated financial plan, it can reveal opportunities to reduce future taxes, improve investment efficiency, optimize retirement strategies, and help ensure every part of your financial life is working together.  Topics Covered:  Financial Planning  Tax Planning  Tax Return Review  Investment Management  Retirement Planning  Wealth Management  Business Owners  Information from Shawn Hanquist, CFP®  Comprehensive Financial Planning  Enjoying The Fit Wealth Show?  Be sure to subscribe so you never miss an episode, and if you found this conversation helpful, we'd appreciate it if you left a review and shared it with a friend or fellow business owner. Your support helps us reach more people looking to build wealth with confidence.  🔗 Connect with Fit Wealth  Instagram: @fitwealth_  Website: www.fitwealthadvisors.com  Podcast: The Fit Wealth Show— subscribe on Apple & Spotify  YouTube: The Fit Wealth Show     The Fit Wealth Podcast is brought to you by Plan Group Financial, Inc. (PGF) d/b/a Fit Wealth Advisors. PGF d/b/a Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Past performance is not indicative of future results.

  7. Sep 15

    152. Put Too Much Money in a Roth, What Happens Next?

    Accidentally contributed too much to your IRA? Don't panic.  It's one of the most common retirement planning mistakes we see, and in many cases, it's completely fixable, if you know what to do.  Whether you received a raise, earned an unexpected bonus, sold a business, or simply didn't realize you exceeded the IRS contribution limits, making an excess IRA contribution can happen to anyone.  In this episode, Amanda and Shawn Hanquist explain what an excess IRA contribution is, the potential tax consequences of leaving it uncorrected, and the steps you can take to fix the mistake before it becomes more costly.  In This Episode, We Discuss:  What an excess IRA contribution actually is  The most common reasons people overcontribute  The IRS 6% excise tax—and how to avoid it  Your options for correcting an excess contribution  Common mistakes people make after discovering the problem  How proactive financial planning can help prevent issues like this in the future  Key Takeaway  An IRA overcontribution doesn't have to derail your retirement plan. The sooner you identify the issue and take action, the more options you'll typically have to correct it and avoid unnecessary penalties.  If you're unsure whether you've contributed too much—or have questions about your retirement strategy—working with a qualified financial advisor can help ensure your savings stay aligned with your long-term goals.  Enjoying The Fit Wealth Show?  Be sure to subscribe so you never miss an episode, and if you found this conversation helpful, we'd appreciate it if you left a review and shared it with a friend or fellow business owner. Your support helps us reach more people looking to build wealth with confidence.  🔗 Connect with Fit Wealth  Instagram: @fitwealth_  Website: www.fitwealthadvisors.com  Podcast: The Fit Wealth Show— subscribe on Apple & Spotify  YouTube: The Fit Wealth Show      The Fit Wealth Podcast is brought to you by Plan Group Financial, Inc. (PGF) d/b/a Fit Wealth Advisors. PGF d/b/a Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Past performance is not indicative of future results.

  8. Sep 8

    151. A lot of women avoid this money conversation, here’s why and what they need to know

    The Financial Shift Every Woman Needs To Be Prepared For  For generations, many women were taught that someone else would handle the finances. But today's reality is very different.  Women are living longer, inheriting more wealth, building successful careers and businesses, and increasingly becoming the primary financial decision-makers in their families. Whether through retirement, widowhood, divorce, or simply life changing, there's a good chance you'll be responsible for important financial decisions at some point.  The question isn't whether you're capable.  It's whether you'll be prepared.  In this episode, Amanda discusses why so many women feel disconnected from money, why confidence—not intelligence—is often the biggest obstacle, and the simple financial knowledge every woman should have before life forces her to figure it out on her own.  In this episode, you'll learn:  Why today's women are facing a different financial future than previous generations.  The real reason so many women feel intimidated by investing and financial planning.  Why confidence with money has very little to do with intelligence.  How financial knowledge creates more freedom and better choices later in life.  The six essential areas every woman should understand about her own finances, regardless of who's currently managing the money.  You don't need to become a financial expert.  You simply need enough understanding to confidently participate in the conversations that shape your future.  If you're entering the second half of life and want more clarity around retirement, taxes, investments, and your overall financial plan, we'd love to help.  Visit FitWealthAdvisors.com to learn more.  🔗 Connect with Fit Wealth    Instagram: @fitwealth_  Website: www.fitwealthadvisors.com  Podcast: The Fit Wealth Show— subscribe on Apple & Spotify  YouTube: The Fit Wealth Show      Advisory services are offered through Fit Wealth Advisors, LLC. d/b/a Fit Wealth, an Investment Advisor in the State of Nebraska. Insurance products and services are offered through Fit Wealth Insurance, LLC, an affiliated company. All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or indication of future results. Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

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About

The Fit Wealth Show is for business owners who want to turn strong income into real, long-term wealth. Hosted by Amanda and Shawn Hanquist CFP®, founders of Fit Wealth Advisors, this show goes beyond surface-level financial advice. Each episode breaks down how to structure your money, reduce taxes, and build a clear plan that supports the life you actually want to live. We cover: • Personal CFO strategies for business owners • Proactive tax planning (not just tax prep) • Investment strategy and long-term wealth building • Cash flow systems for high-income households • How to know if you’re truly on track for financial freedom If you’re making $300K–$3M+ and want more than generic advice, this is where strategy meets execution.

Information

  • Creator
    Amanda & Shawn Hanquist
  • Years Active
    2020 - 2026
  • Episodes
    96
  • Rating
    Clean
  • Copyright
    © 2026 The Fit Wealth Show
  • Show Website
    The Fit Wealth Show

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