Planning for Retirement with Kevin Lao

Kevin Lao
  • 4.8 (31)
  • Investing
  • Updated Biweekly

After more than 17 years serving retirees, I’ve seen the same pattern: people spend 30–40 years building wealth, but the biggest financial decisions happen right before and after retirement. I’m Kevin Lao, a fiduciary financial advisor specializing in retirement income planning, Roth conversions, Social Security, tax strategies, RMDs, and smart investing for those with $1M+ saved. If you’re within 10 years of retirement or already retired and want clarity, confidence, and tax-efficient income, this podcast is for you. Bonus points if you love golf!

  1. 1h ago

    133: Will Social Security Benefits Get Cut By 22%? Or Will "The PROMISE Act" Save The Social Security Shortfall?

    Will Social Security really be cut by more than 20%?Should you claim early before the rules change? Or is the media exaggerating what's actually happening? In this episode, I will break down the latest Social Security Trustees Report, explain what the 2032 Trust Fund projection actually means, and discuss the newly introduced PROMISE Act designed to begin addressing the program's long-term funding shortfall. You'll learn: What the Social Security Trust Fund actually is Why the Trust Fund is projected to be depleted around 2032 Why Social Security isn't expected to "go bankrupt" Whether claiming benefits early is a smart strategy How a potential 22% benefit reduction could affect a retirement plan What the new PROMISE Act does (and doesn't do) The most likely changes Congress could make to strengthen Social Security Practical planning steps you can take today without overreacting to the headlines If you're approaching retirement or already retired, thisepisode will help you separate fact from fear and make more informed decisions about one of the most important income sources in your retirement plan. ⁠⁠Areyou interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Clickthis link to fill out our Retirement Readiness Questionnaire⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Or,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠visit my website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ -Kevin Connect with me here: ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠Followthe podcast⁠ ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠JoinMy Company Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ This is for general education purposes only and shouldnot be considered as tax, legal or investment advice.

  2. 6d ago

    132: Unretired and Making the Most of Your "Third Act" (w/ Sandy Vecchi)

    Planning for retirement isn't just about building an investment portfolio. For many people, the hardest part of retirement is feeling that loss of identity their careers provided. I'm very excited to have Sandy Vecchi on for this episode to discuss one of the most overlooked aspects of retirement planning: purpose, identity, and building a meaningful "third act." After spending decades in financial services, Sandy discovered that many retirees struggle not because they risk running out of money, but because they lose the structure, relationships, and identity that work once provided. Following a deeply personal family health crisis in her retirement, she completely redefined what retirement could look like and now helps others do the same. In this episode you'll learn: • Why retirement is an identity transition, not just a financial one• The "honeymoon phase" many retirees experience• How to discover purpose after leaving your career• Why financial independence creates freedom, but not fulfillment• The biggest regrets people have later in life• Practical ways to prepare emotionally before retirement• How to build a meaningful legacy beyond money If you're within a few years of retirement, or have already retired, this conversation may change how you think about your next chapter. If you enjoyed this episode, please like, subscribe, and share it with someone preparing for retirement. 📌 Connect with Sandy Vecchi: Website:  https://www.sandyvecchi.com/YouTube:  https://www.youtube.com/@sandyvecchi9814LinkedIn:  https://www.linkedin.com/in/sandy-vecchi-mba-a2a528378/ Instagram:  https://www.instagram.com/sandyvecchispeaking ***This is for general education purposes only and should not be considered as tax, legal or investment advice***

  3. Jul 21

    131: Why I'm Telling This 59-Year-Old to Stop Saving for Retirement (Case Study)

    What if the smartest retirement move isn't retiring at all?In this episode, I walk through a case study of a 59-year-old professional with more than $3 million saved who could retire tomorrow, but isn't sure he should.Instead of asking whether he can retire, we explore a different question:What if he simply stopped saving for retirement?By redirecting tens of thousands of dollars each year toward travel, family, hobbies, and experiences while continuing to work a few more years, he may actually improve both his financial confidence and his quality of life.In this episode we discuss:• What "coasting to retirement" really means• When saving more stops meaningfully improving your retirement• How delaying retirement changes your odds of success• How many high-income professionals oversave• How to know if you've already "won the game"• The emotional side of retirement planning Every retirement plan is different, but if you're approaching retirement with $1 million, $2 million, or more saved, this may be one of the most important mindset shifts you'll ever hear. ⛳ PFR Nation (Who This Is For)If you're over 50, have saved seven figures (or multiple seven figures), love golf and travel, and you want to make work optional while minimizing taxes… welcome to the community! -Kevin Connect with me here: ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠Followthe podcast⁠ ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠JoinMy Company Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ This is for general education purposes only and shouldnot be considered as tax, legal or investment advice.

  4. Jul 14

    130: The Retirement Playbook Changes When You're Single (Here's What Nobody Talks About)

    Retirement planning looks very different when you're single.Whether you're divorced, widowed, or intentionally single, the financial decisions you face in retirement aren't the same as they are for married couples. In this video, I’ll discuss the unique retirement planningchallenges facing single retirees, including Social Security claiming strategies, Roth conversions, tax brackets, Medicare IRMAA surcharges, estate planning, long-term care, investment strategy, housing decisions, and whyretirement spending may look different when you're planning for one instead of two. Topics Covered: • How retirement planning changes when you're single• Social Security strategies for single retirees• Roth conversions and tax planning• Medicare IRMAA and RMD planning• Estate planning essentials• Housing and Continuing Care Retirement Communities (CCRCs)• Long-term care considerations• Retirement spending for single retirees• Advantages of retiring single Whether you're already retired or preparing for retirement,understanding these differences can help you better prepare as you plan for and execute a successful retirement. ⁠Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Or,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠visit my website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ -Kevin Connect with me here: ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Follow the podcast ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Join My Company Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ This is for general education purposes only and shouldnot be considered as tax, legal or investment advice.

  5. Jul 7

    129: Retirement Q&A: 4% Rule, 60/40 Portfolio, Trump Accounts & Biggest Regret

    In this Retirement Q&A episode, I answer four of thequestions I received recently from retirees and people preparing for retirement. We'll cover: • Is the 4% Rule still the best safe withdrawal rate?• What is the best investment allocation during retirement?• Are the new Trump Accounts actually worth using?• What do retirees regret most at the end of life? If you're within 10 years of retirement or already retired,this episode will help you make smarter financial decisions as you prepare for and execute your retirement. ⬇️ Resources Mentioned Retirement Manifesto: The Regret We Get Wrong: https://www.theretirementmanifesto.com/the-regret-we-get-wrong/?fbclid=IwY2xjawSzaDpleHRuA2FlbQIxMABicmlkETF2N205R3M1UzM0ZGZMYUdUc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHmlG7eBoSF4Xx8iY2T14aNEAsHcdJXiZ683hqbVHRknuOrZntYuEtrs6NMNR_aem_mu0XSSVgTO14CfX4Nj12cA • Trump Accounts Deep Dive (Episode #123) https://open.spotify.com/episode/1GxHxa1rasICkIrlLOb8J9?si=AJQ8RMcDQr-BOcgs2vzVHQ ⁠Areyou interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Clickthis link to fill out our Retirement Readiness Questionnaire⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Or,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠visit my website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠   Connect with me here: ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Followthe podcast ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠JoinMy Company Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ This is for general education purposes only and shouldnot be considered as tax, legal or investment advice.

  6. Jun 23

    128: 5 Reasons Delaying Social Security Could Be a Mistake

    ⁠Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Or,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠visit my website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ****Most advice for retirees suggests to delay SocialSecurity as long as possible. But is that always the right move? In this episode, we'll discuss five real-world situations where claiming Social Security earlier may actually be the better decision. You'll learn: ✔️ How longevity impacts yourclaiming strategy ✔️ Why Social Security break-evencalculators may be incomplete ✔️ The hidden impact claimingdecisions can have on your investment portfolio ✔️ How Social Security affectslegacy planning and leaving money to your children ✔️ Spousal and survivor benefitconsiderations ✔️ Why many retirees strugglepsychologically with spending their nest egg ✔️ How claiming benefits earlycan help manage sequence of returns risk during market downturns The reality is that Social Security claiming decisionsshould never be made in isolation. They should be coordinated with your retirement income plan, tax strategy, investment portfolio, legacy and lifestyle goals. If you're approaching retirement and wondering whether toclaim Social Security at 62, Full Retirement Age, or 70, this episode will help you understand the tradeoffs and make a more informed decision. Hope it helps. -Kevin Connect with me here: ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Followthe podcast ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠JoinMy Company Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ This is for general education purposes only and shouldnot be considered as tax, legal or investment advice.

  7. Jun 16

    127: (Case Study) Pension + Social Security + $2 Million Saved...The Retirement Planning Opportunities Change!

    ⁠Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Or,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠visit my website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Many retirees spend decades worrying about whetherthey'll have enough money. But what happens when you've already solved the incomeproblem? In this case study, we examine a 65-year-old retiree witha $1.9 million portfolio, an $85,000 pension, and Social Security benefits thatcover nearly all of her retirement spending needs. We discuss: Why retirement planning changeswhen income is already covered How pensions affect investmentstrategy Roth conversion opportunitiesbefore required minimum distributions begin Lifetime gifting strategies foradult children Charitable planning usingQualified Charitable Distributions (QCDs) Creating a tax-efficient legacyIf you've accumulated significant retirement assets andwant to optimize retirement, this episode is for you. The big question isn't whether you can retire. It's what to do next after you've already won theretirement income game. Connect with me here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Followthe podcast ​⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠JoinMy Company Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ***This is for general education purposes only and shouldnot be considered as tax, legal or investment advice.

  8. Jun 9

    126: 7 Retirement Expenses That Catch Retirees By Surprise

    ⁠Are you interested in working with me 1 on 1?⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Click this link to fill out our Retirement Readiness Questionnaire⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Or,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠visit my website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Are you underestimating your retirement expenses? One of the biggest mistakes I see pre-retirees make isn't poor investing, claiming Social Security incorrectly, or even tax planning mistakes. It's failing to accurately estimate what retirement will actually cost. After 18 years helping people plan for and execute retirement, I've noticed the same retirement expenses catch people by surprise over and over again. In this episode, I break down the 7 retirement expenses most retirees underestimate, including: ✅ Travel and the "Go-Go Years" of retirement ✅ Home repairs, renovations, and aging-in-place upgrades ✅ Retirement tax planning opportunities and tax surprises ✅ Financial support for adult children and grandchildren ✅ Hiring help for tasks you used to do yourself ✅ Vehicle replacement costs ✅ Healthcare, Medicare, and long-term care expenses If you're within 5-10 years of retirement, already retired, or trying to determine how much money you need to retire comfortably, this episode will help you build a more realistic retirement budget and avoid costly planning mistakes. Why most retirees underestimate expensesMy own experience underestimating costsThe expensive "Go-Go Years" of retirementHome repairs and renovationsTax surprises in retirementAdult children still on the payrollPaying others to do things you used to do yourselfVehicle replacement costsHealthcare and long-term care expensesWhy retirement spending isn't linearThis is for general education purposes only and shouldnot be considered as tax, legal or investment advice.

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About

After more than 17 years serving retirees, I’ve seen the same pattern: people spend 30–40 years building wealth, but the biggest financial decisions happen right before and after retirement. I’m Kevin Lao, a fiduciary financial advisor specializing in retirement income planning, Roth conversions, Social Security, tax strategies, RMDs, and smart investing for those with $1M+ saved. If you’re within 10 years of retirement or already retired and want clarity, confidence, and tax-efficient income, this podcast is for you. Bonus points if you love golf!

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