Secure Your Retirement Secure Your Retirement

In this episode of the Secure Your Retirement Podcast, Radon and Murs discuss the upcoming changes to Medicare Part D in 2025, bringing on their in-house healthcare specialist, Shawn Southard. The discussion highlights significant updates to prescription drug coverage that will impact beneficiaries, especially concerning cost reductions and structural changes due to the Inflation Reduction Act of 2022. 
Listen in to learn about the details of these changes, including the lowering of out-of-pocket maximums and the elimination of the infamous "donut hole" coverage gap. The conversation also touches on the broader implications for Medicare beneficiaries, such as potential increases in plan premiums and the necessity for careful review of one's Medicare coverage in light of these changes. 
In this episode, find out: 
Key changes to Medicare Part D starting in 2025. The impact of the Inflation Reduction Act on Medicare beneficiaries. The reduction of out-of-pocket maximums for prescription drugs. The elimination of the Medicare "donut hole." Strategies for navigating these changes and optimizing Medicare coverage. 
Tweetable Quotes: 
"Potentially, the most that people are going to have to pay now in Medicare prescription drug plans is $2,000 out of pocket." - Shawn Southard "This is the year you need to take a hard stop and review your Medicare situation." - Shawn Southard 
Resources: 
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement! 
To access the course, simply visit POMWealth.net/podcast. 

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss whether to take Social Security at age 62 or wait until the full retirement age of 67. This is one of the most frequent and challenging questions they encounter from clients. Through a detailed example featuring their colleague Taylor, they explore the considerations that influence this significant choice.
The conversation highlights the significance of having a comprehensive retirement plan that not only addresses financial needs but also considers personal goals and lifestyle choices. This episode is packed with expert advice and practical tips to help you achieve a secure and fulfilling retirement. 
In this episode, find out: 
How to maximize your Social Security benefits The pros and cons of different types of annuities Strategies for long-term care planning The psychological preparation needed for retirement Tips for staying informed about changes in retirement laws 
Tweetable Quotes: 
"Retirement is not just a financial journey, but a significant life transition that requires emotional preparedness." – Radon Stancil "Understanding your Social Security benefits can make a huge difference in your retirement income." – Murs Tariq 
Resources: 
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement! 
To access the course, simply visit POMWealth.net/podcast. 

In this Episode of the Secure Your Retirement Podcast, Radon and Murs speak with Andrew Opdyke as he provides his expert analysis on the current economic landscape and what to expect moving forward. They discusses the divergence within the economy, the issues with the banks, the recession and market volatility, and much more. 
Listen in to learn Analysis of the stock market's performance in the first half of the year and expectations for the remainder of 2024, with a focus on sectors like AI. You will also learn the anticipated rate cuts, and the current state of inflation and employment 
In this episode, find out: 
Federal Reserve Mid-Year Checkup: Andrew Updyke discusses the Federal Reserve's mid-year meeting and their revised forecast, including the expectation of only one rate cut in 2024 instead of the initially anticipated three. Election Year Dynamics: The influence of the upcoming election on the Federal Reserve's decisions and the potential timing for any rate cuts. Market Performance and Projections: Insights into the market's strong performance in the first half of 2024 and cautious predictions for the remainder of the year. Recession Concerns: An analysis of the current economic indicators and the possibility of a recession in the next six to nine months. Geopolitical Issues: The economic impacts of ongoing geopolitical conflicts, particularly in Ukraine and the Middle East, and their effect on inflation and shipping costs. 
Tweetable Quotes: 
"Election years tend to bring emotion with them. People get worked up. But while we do get emotionally invested on the political side, it tends not to have a substantial impact in the short-term or medium-term on the markets." – Andrew Opdyke "We have 160 trillion dollars of net worth in this country. I think as we look forward, I'm not looking at this as something that can't be solved, but I do think that we're going to see tweaks." – Andrew Opdyke 
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss holistic wealth management, which goes beyond just savings and investments. While an investment manager looks at your investments or savings in your wealth accumulation phase, a holistic wealth manager helps you build a comprehensive retirement-focused financial plan. 
Listen in to learn all the data points we collect and focus on to help you build a comprehensive retirement-focused financial plan. You will also learn the advantages of having a holistic wealth manager to help you make major financial decisions in retirement that you might otherwise hesitate to make. 
In this episode, find out: 
The role of an investment manager in guiding you to properly save and invest in the wealth accumulation phase. The difference between an investment manager and a holistic wealth manager. How a holistic wealth manager will help you build a comprehensive retirement-focused financial plan. All the data points we get and focus on to help you build a comprehensive retirement-focused financial plan. How holistic financial planning covers all the financial concerns that bother people in retirement. The advantages of having a holistic wealth manager to help you make major financial decisions in retirement. 
Tweetable Quotes: 
“When you work with a holistic wealth manager, they’re going to begin everything by building a comprehensive financial plan and, in our case, a comprehensive retirement-focused financial plan.”- Radon Stancil. “Just because you may have done a good job of saving the assets, a lot of time you need a lot of help getting all the way to the finish line and understanding some of the major financial decisions.”- Murs Tariq 
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the income needed during retirement. It’s important to understand that spending needs in retirement will differ significantly from your current earnings due to various factors such as taxes, savings, and job-related expenses. 
Listen in to learn about a comprehensive approach to estimating retirement expenses by identifying costs that will decrease or disappear in retirement. You will also learn about expenses that will remain constant or increase during retirement and the importance of examining your current net income and expenses to understand your spending patterns better. 
In this episode, find out: 
The flawed approach of using online income percentages to determine your retirement needs. Identifying work-related expenses that will reduce or cease in retirement and their impact. Understanding the ongoing and possibly increasing retirement expenses. The importance of examining your current spending to estimate your future financial requirements better. The importance of having a detailed financial plan to ensure a comfortable retirement. 
Tweetable Quotes: 
“How much income you're going to need in retirement comes back to how much you’re spending and how much you’re going to spend in retirement because everything's going to be different in retirement.”- Radon Stancil. “The sooner you start thinking about what your life is going to look like in retirement, planning for it, and putting numbers to it, the easier it is to make it a reality.” - Murs Tariq. 
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss practical tips on how to safeguard your information and prevent cybersecurity fraud. Fraudsters are continuously evolving their tactics, making it easy to fall victim with a simple click, which is why keeping yourself educated is important. 
Listen in to learn the importance of regularly updating your personal information with your financial advisor and only making changes with verbal verification. You will also learn the importance of being suspicious of unsolicited emails and phone calls, avoiding sharing sensitive information on social media, and verifying money movement instructions via secure methods. 
In this episode, find out: 
Never call numbers from suspicious pop-ups claiming to be from reputable companies and instead seek professional help. Best practices for working with your advisor: Provide regular updates and verbal verification of any changes to personal information. The advanced verification methods used by financial custodians like voice recognition and two-factor authentication. How to be suspicious of unsolicited phone calls, avoid sharing sensitive information on social media, and verify money movement instructions securely. Things to do to keep your phone and computer technology up-to-date to prevent security breaches. Avoiding risks with public networks – use personal devices and secured connections when conducting sensitive transactions in public. Password management – create unique passwords for different accounts and use password managers for enhanced security. The importance of verifying the authenticity of emails and links to avoid falling victim to phishing attempts. 
Tweetable Quotes: 
"We would never change your email, never change your address, never change your phone number without going through the right protocol, which is going to be able to verify you verbally."- Radon Stancil. "Phishing is scammers trying to bait you somewhere or the other by creating urgency by saying, if you don't do this, then something is going to happen to your computer."- Murs Tariq. “At the end of the day, try to be vigilant and ask yourself,  “do I truly know where this is coming from, and is it worth clicking this button?”- Murs Tariq.  
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.