The Retirement Fix: Less Stress, More Success

John Gigliello, CFP®
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The Retirement Fix is a monthly podcast for people seeking answers and security in retirement by CERTIFIED FINANCIAL PLANNER™ John Gigliello of the Albany Financial Group, based in Albany, NY. Throughout his 30+ years of experience in taxation, finance and academia, John takes an educational approach to address the most pressing pain-points experienced by his clients and others such as proactive tax management, retirement living & income planning, social security timing, investment management, asset protection and more.     Securities are offered through LPL Financial, member SIPC (www.SIPC.org). Investment advice is offered through Private Advisor Group, a registered investment advisor. Private Advisor Group ad Albany Financial Group are separate entities from LPL Financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing.  

  1. DEC 10

    Year-End Tax Planning for Retirees: When More is Less

    When it comes to paying taxes, many people think that owing as little as possible come April means they’ve beaten Uncle Sam. Well, it’s true they may have won the battle, but with that kind of shortsighted thinking, they may not win the war, so to speak. The goal in tax planning is not only to pay fewer taxes in any given year, but to pay as little as possible throughout your lifetime. And sometimes that means paying more now to save later.  Welcome back to The Retirement Fix, a monthly podcast for less stress and more success in your go-go retirement years.  I’m your host, John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and I’m here to be your guide to keeping more of your hard-earned money by making smart financial decisions in retirement. This podcast is for people nearing or in retirement who want to learn more about proactive tax planning, retirement income planning, social security timing, investment management and asset preservation.  After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. Today I’m going to talk about year-end tax planning strategies and why sometimes paying more, not less, can be the key to long-term success. I like to say that most people are “allergic” to pre-paying taxes, but it really does make sense for some people, in specific circumstances to consider accelerating income, and therefore pay taxes earlier than they might otherwise be due. This is the time of year when I meet with many of my higher net worth clients for proactive tax planning. We examine their recent, current and projected future income and its tax implications. We then determine what strategies might save them tax dollars now and in the future. Proactive tax planning is different from tax preparation and involves analysis that takes into consideration all aspects of a client’s financial picture, with the results being unique to each client and their specific situation. Year-end tax planning accomplishes a couple of very important things. First of all, it helps clients avoid any tax surprises in April. By understanding their current tax situation, in relation to the current tax laws, they can plan ahead for any liabilities by adjusting withholdings or making quarterly estimated payments. But a bigger part of tax planning strategy has to do with timing income such as IRA withdrawals and Social Security benefits to take advantage of low tax rates whenever possible and that’s what I want to focus on today.  If you stick around to the end, I’ll also offer a few tax planning tips that most people should consider before year-end. One of the services I offer high net worth retirees is proactive tax planning. We review anticipated income, from all sources, each year and employ strategies to help clients make the most of their hard-earned money. If this sounds like something from which you could benefit, reach out to us. You can find more about the services we offer at www.jgigliello.com.

    15 min

  2. OCT 1

    Fighting Elder Fraud: 10 Tips to Protect Your Nest Egg

    Last year Americans lost more than $16 Billion dollars to scams. That’s Billion with a B. While many of us believe we are savvy enough to spot a scam, the scammers are often one – or sometimes 2 or 3 – steps ahead. Anyone can become the victim of fraud, but seniors are much more vulnerable and often, have the most to lose. Since October is Cybersecurity Awareness month, I am going to share 10 tips to recognize and ward off scams in this episode of The Retirement Fix, a monthly podcast for less stress and more success in your go-go retirement years. I’m your host, John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and I’m here to be your guide to keeping more of your hard-earned money by making smart financial decisions in retirement. This podcast is for people nearing or in retirement who want to learn more about proactive tax planning, retirement income planning, social security timing, investment management and asset protection.  After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. To find out more about the services I offer, visit https://www.jgigliello.com. When I say anyone can become the victim of cybercrime, I’m serious. Listen to these staggering 2024 statistics from the FBI: ·         The FBI’s Internet Crime Complaint Center (IC3) received more than 800,000 complaints about cybercrime, of which 250,000 cases resulted in actual losses. ·         The average loss was just over $19K per victim, with total losses topping $16 Billion.  ·         Losses due to cybercrime rose 33% in 2024 over 2023. ·         Since it’s inception in 2000, IC3 has received more than 9 million complaints.

    16 min

  3. SEP 3

    Preserving Your Life Savings: Do You Need an Asset Protection Trust?

    Do you need an Asset Protection Trust? If you're not sure, this episode is for you. These are questions I get all the time from clients:  Will I lose my home and everything I've worked for if my spouse or I need fulltime nursing home care? Do I need an asset protection trust?The answer is not as simple as yes or no. This episode features a special guest - Estate Planning Attorney Patricia Shevy, of the Shevy Law Firm in Albany, NY to help listeners understand the ins and outs of Asset Protection Trusts in New York, often referred to as Medicaid Trusts. If you have additional questions on this, or any other financial planning topic, please visit my website, and don't hesitate to reach out: www.jgigliello.com.

    39 min

  4. AUG 20

    Retirement Income under the OBBA: 9 Key Provisions Explained

    Are you confused about the recently-passed One Big Beautiful Bill Act (OBBA) and what it means for you? You’re not alone. There is a lot to digest in the almost 900-page bill that was signed into law on July 4th.  Of greatest concern seems to be the impact on Social Security income for retirees.  So today I am going to break down the key measures affecting retirees and their families in this special bonus episode of The Retirement Fix, a podcast for less stress and more success in your go-go retirement years. I’m your host, John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and I’m here to be your guide to keeping more of your hard-earned money by making smart financial decisions in retirement. This podcast is for people nearing or in retirement who want to learn more about proactive tax planning, retirement income planning, social security timing, investment management and asset protection.  After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. It is important to understand that the 2017 Tax Cuts and Jobs Act, passed during President Trump’s first term, was scheduled to sunset at the end of this year, bringing back higher tax rates and lower estate tax exemptions, among other provisions. The so-called “One Big Beautiful Bill Act,” signed into law by President Trump on July 4th creates an extension of the TCJA, making many of the tax cuts permanent, while increasing spending for border security, defense, and energy production. The bill contains several controversial provisions and passed by razor-thin margins in both the House and the Senate, but today I want to try to avoid the politics and just answer the most pressing question I get from clients – and that is “How will this affect my income, especially in retirement?”

    13 min

  5. AUG 6

    8 Steps to a Better Retirement: Don't Let Uncertainty Lead to Anxiety

    So, you’re looking to retire in the next 5, maybe 10 years, dreaming of life after work - whether that be swimming at the beaches of Florida or hiking in the mountains of New Hampshire, caring for grandchildren, traveling the world or gardening in your own backyard.  You’ve built a nest egg, steadily saving over the years, but it is enough? Will market swings eliminate your security blanket or help you reach your goal? Well, I’m here to tell you today that, believe it or not, it doesn’t really matter as much as you think. Uncertain markets should not lead to anxiety; in fact, in some cases that uncertainty can lead to opportunity.  The financial markets are mostly out of your control. So why not focus on something you CAN control.  These 8 steps that I am going to outline today will help you feel confident in your retirement plan, despite wavering markets conditions. Welcome back to The Retirement Fix, a monthly podcast offering strategies for less stress and more success in your go-go retirement years. I’m your host, John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and I’m here to be your guide to keeping more of your hard-earned money by making smart financial decisions in retirement. This podcast is for people nearing or in retirement who want to learn more about proactive tax planning, retirement income planning, social security timing, investment management and asset protection.  After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. When retirement is still many years in the future, market volatility can be easy to shrug off; you are still in the accumulation phase early in your investment career and your portfolio has years to recover.  But when retirement is within sight and the distribution phase of your nest egg is right around the next corner, market volatility is more than a nuisance. It can be a real stressor if you haven’t planned properly and taken steps to conserve your portfolio.  If you’re within 10 years of retirement, you are considered a “pre-retiree” and this 8-step “survival guide,” could provide tools to help you preserve your nest egg: 1.    Evaluate Where You Stand 2.    Turbocharge Your Savings 3.    Take Control of Your Retirement Date 4.    Revisit the ‘Safe’ Portion of Your Portfolio 5.    Assess Your Equity Positioning 6.   Factor in Withdrawal Sequencing and Social Security Start Date 7.    Evaluate Anticipated Lifestyle Changes 8.   Consider Your Insurance Safety Net I always encourage you to take part in the financial planning process to pursue a confident financial future and in turn, feel optimistic and proud about your accomplishments.   For those who don’t have a plan in place, I am currently offering a free “Retirement Navigator” through my website. Please visit www.jgigliello.com to learn more. The Retirement Navigator is a complementary retirement guide for prospective clients, that will demonstrate your personal retirement income projections, tax planning opportunities and investment optimization. There is no obligation, so please check it out.

    19 min

  6. JUL 2

    4 Reasons Your Estate Should NOT Inherit Your IRA

    Is the financial legacy you leave behind entirely in your control?  The answer to that question may be shocking.  For now, let’s just say “It can be, but only with careful planning and guidance.” Let’s set the scene: You’ve worked hard, saved diligently, and built a solid nest egg in your Individual Retirement Account, or IRA. But one of the most important decisions comes toward the end—who gets it when you’re gone? You decide to work with a reputable estate attorney to draft a last will and testament that clearly defines who will receive what assets after your death, from your house right down to the last family heirloom. Then you meet with your financial planner and when asked about naming beneficiaries on your retirement accounts, you believe that since your wishes are already clearly defined in your will, you can just name your estate.  Wrong. I get it—it sounds tidy and all-encompassing to name your estate as beneficiary, but in reality, it can actually complicate matters... a lot. In many, many cases it is inefficient and costly for your heirs and can jeopardize your financial legacy. Welcome back to The Retirement Fix, a monthly podcast offering strategies for less stress and more success in your go-go retirement years. I’m your host, John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and I’m here to be your guide to keeping more of your hard-earned money by making smart financial decisions in retirement. This podcast is for people nearing or in retirement who want to learn more about proactive tax planning, retirement income planning, social security timing, investment management and asset protection.  After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. In this episode I am going to break down a very important financial decision that can shape your future and the future of your loved ones - who you name as the beneficiary of your IRA.

    15 min

  7. JUN 4

    Avoiding the Medicare Surcharge Trap: 5 Strategies for Retirees

    Did your Medicare premium suddenly skyrocket? If you think you are paying more than you should, listen up, you may have recourse. But you need to act quickly. Welcome to The Retirement Fix, a podcast for less stress and more success in your go-go retirement years. I’m John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and I’m here to be your guide to keeping more of your hard-earned money by making smart financial decisions in retirement. This podcast is for people nearing or already in retirement who want to learn more about proactive tax planning, retirement income planning, social security timing, investment management and asset preservation.  After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money.  If you still have questions after listening to this episode, please visit my website at www.jgigliello.com, where you’ll find all of my contact information as well as details of the services I offer.  Now onto the subject of this episode - Today I’m going to talk about the IRMAA surcharge that catches many retirees by surprise, and what to do if you believe you are paying more than your share. IRMAA, which stands for Income-Related Monthly Adjustment Amount, is an extra monthly charge added to your Medicare Part B and Part D premiums if, essentially, you make too much money in retirement. The Social Security Administration determines your IRMAA based on the Modified Adjusted Gross Income reported on your tax return two years prior. So 2025 premiums are based on your 2023 returns. Medicare Part B covers doctor’s visits and outpatient services and currently costs $185.00 monthly. Part D covers prescription drugs, the premium for which varies based on the plan you choose, but averages around $46.50 per month. In 2025, individuals who made more than $106,000 in 2023 and married couples filing jointly who earned more than $212,000, will owe IRMAA. The surcharges can be quite steep. And individual who earned between $106,000 and $133,000 or a couple who earned between $212,000 and $266,000, will owe an additional $74 per month for Part B and $13.70 for part D, and that’s the lowest bracket.

    14 min

  8. MAY 7

    Turning Volatility into Opportunity: 7 Strategies to take advantage of a market downturn

    If you've been watching the financial markets lately, you know that volatility is the name of the game. Prices rise, they fall, and it can feel like you’re riding a rollercoaster at times. But here’s the good news: Volatility doesn’t always have to be a bad thing. In fact, with the right strategy, market downturns and fluctuations can present incredible opportunities for savvy investors. Welcome to The Retirement Fix, a podcast offering strategies for less stress and more success in your go-go retirement years. I’m your host, John Gigliello, a CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and I’m here to be your guide to keeping more of your hard-earned money by making smart financial decisions in retirement. This podcast is for people nearing or in retirement who want to learn more about proactive tax planning, retirement income planning, social security timing, investment management and asset protection.  After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money.  You can find out more about the services I offer as well as all my contact information on my website: www.jgigliello.com. For any questions, feel free to contact me at jgigliello@albanyfinancial.com. In today’s episode, we’re diving into a timely topic: How to turn stock market volatility into opportunity. I’m going to share 7 ways you can potentially take advantage of a market downturn and make volatility work in your favor.  While I want to touch on all 7 points, we will spend most of this episode talking about tax-loss harvesting - a common strategy that may help you save money by lowering your tax bill. Since this strategy can offset ordinary income, taxpayers in high tax brackets and high-tax states may benefit most. Before I get into the details on the 7 strategies, I want to emphasize that I never encourage clients to try to “time the market,” but rather I urge most investors to stick with the long-term financial plan that we have designed to pursue their individual goals. Market volatility is built into each client’s financial plan because we know it’s going to happen. But we rarely know when. And even when taking advantage of market downturns in the ways that I am about to explain, it is crucial to not lose sight of the overall plan.

    21 min
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The Retirement Fix is a monthly podcast for people seeking answers and security in retirement by CERTIFIED FINANCIAL PLANNER™ John Gigliello of the Albany Financial Group, based in Albany, NY. Throughout his 30+ years of experience in taxation, finance and academia, John takes an educational approach to address the most pressing pain-points experienced by his clients and others such as proactive tax management, retirement living & income planning, social security timing, investment management, asset protection and more.     Securities are offered through LPL Financial, member SIPC (www.SIPC.org). Investment advice is offered through Private Advisor Group, a registered investment advisor. Private Advisor Group ad Albany Financial Group are separate entities from LPL Financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing.  

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