Remember when you were a kid, always asking 'How do you know?' about everything, like why the sky is blue or where the sun goes at night? That curiosity doesn't go away as we get older; it just turns into different questions, like the ones we face when planning for retirement.

Today, we’re digging into the 'How Do You Knows' of retirement planning. How do you know how much income you’re going to need when you retire? How do you know if your retirement plan is tax-efficient? Stay tuned as Lee sheds light on these questions and more!

Here’s some of the how-do-you-knows we discuss in today’s show:

• How do you know how much income you’re going to need when you retire?
• How do you know how much money you should have in your savings account?
• How do you know when you're financially ready to retire?
• How do you know if an advisor is a good fit for you or not?
• How do you know if your retirement plan is tax-efficient?

Want to set up a meeting with us? Visit us here: http://talkwithjp.com

Get more financial education at http://myretirementclarity.com

We get a lot of questions about 401(k)s because they can be tricky to navigate. So, in today’s episode, we’re tackling some of the most frequently asked questions about 401(k)s. Tune in for a comprehensive breakdown of what they are, how they work, and how you can make the most of them!

We’ll cover everything from understanding company matches and target date funds to the pros and cons of 401(k) loans and rollovers into IRAs. This is a super informative conversation that you don’t want to miss!

Here’s what we discuss in today’s show:

• Should I use company-provided 401(k) guidance?
• Should I use target date funds?
• When should I take money out of my 401(k) and roll it over into an IRA?
• How should I adjust my 401(k) investments as I get closer to retirement?
• Can I make catch-up contributions to the 401(k)? If so, when?

Want to set up a meeting with us? Visit us here: http://talkwithjp.com

Get more financial education at http://myretirementclarity.com

We’re thrilled to welcome the Mayor of Macon, Lester Miller, to the My Retirement Clarity podcast today! If you’re from the area, you’re familiar with who he is and some of the incredible things that have happened under his leadership. With the reputation of Macon on the rise, we thought it would be fun to discuss some of the key projects that have made the city a must-visit destination.

From the world's largest indoor pickleball facility, Rhythm & Rally, to a vibrant new amphitheater and a revitalized downtown, there's so much happening in Macon- and even more on the horizon. If you want to learn more about the exciting developments in Macon and hear directly from Mayor Lester Miller, this episode is for you!

Here’s what we discuss in today’s show:

• Macon’s recent National recognition and affordability
• The origin story of the Rhythm & Rally Pickleball Facility
• The process of developing the amphitheater + the importance of music in Macon
• Revitalizing downtown and future plans for the mall and more
• Attracting retirees and major companies to Macon
• The overall economic growth and positive outlook for Macon’s future

Learn more about Mayor Lester Miller:

https://maconbibb.us/mayorlestermiller/

Want to set up a meeting with us? Visit us here: http://talkwithjp.com

Get more financial education at http://myretirementclarity.com

With tax rates set to change soon and national debt on the rise, tax planning might be the most critical piece of retirement planning right now. That’s why we wanted to catch up with David Brooks, a renowned tax expert from Omaha, Nebraska. David, who we consider a tax guru, shared invaluable insights into the world of tax strategies, proactive planning, and the future of tax policies.

For those that aren’t as familiar with our current tax landscape, we’ll spend some time on the details of today’s taxes and how to prepare for future changes. With the national debt crossing $35 trillion and interest expenses skyrocketing, it's crucial to anticipate how tax policies might shift post-election. Regardless of political affiliations, we should all be focusing on policy implications and plan accordingly.

Join us as we get into the tax strategies we’re utilizing in 2024 and why this proactive tax planning can really help mitigate tax liabilities in retirement.

Here’s what we discuss in today’s show:

• Our country’s rising debt is becoming a major political issue because it will impact tax policies
• Why we’ve started accelerating Roth conversions for our clients
• Future legislation that might change taxes and the actions you can take now
• Is it a good thing or bad thing that RMD age has moved up to 75?
• Why you should work with an independent financial advisor versus the big box retailers
• The Donor Advised Fund strategy and the most common way we utilize that for retirees

Want to set up a meeting with us? Visit us here: http://talkwithjp.com

Get more financial education at http://myretirementclarity.com

About our guest: https://retiresmartomaha.com/

We all make excuses from time to time for decisions we know might not be the best. Whether it's about our health, relationships, or finances, excuses can hold us back from achieving our long-term goals.

Very often, Lee sees people who know that the financial decisions that they’re making aren’t the best decisions, but they try to create excuses or explanations for why they’re doing what they’re doing. From making Social Security decisions based on fear to taking on too much risk to make up for lost time, he’ll address some common areas where he sees this happening. Let’s talk about why these excuses usually don’t hold water…

Here’s what we discuss in today’s show:

• Claiming Social Security at age 62 due to fears of it running out of money
• Taking too much risk to make up for lost time
• Holding onto too much cash to keep your money safe
• Investing in things you don’t understand
• Sticking with a financial advisor out of loyalty, even when you should switch

Want to set up a meeting with us? Visit us here: http://talkwithjp.com

Get more financial education at http://myretirementclarity.com

In this episode, host Lee Perkins sits down with Keith Dykes, the newest member of the JL Perkins Wealth Management team. Originally a Zoom call, this engaging interview explores Keith's background, family life, and journey to becoming a financial advisor. Learn about Keith's transition from agronomy to finance, his dedication to client service, and the values that align him perfectly with the team.

Keith joined the JL Perkins Wealth Management team in 2023 as a financial advisor. His background includes being a successful entrepreneur & business owner with additional experience in Tax and Insurance. He graduated from the University of Georgia in 1998 with a BSA in Crop Science. When not at work, Keith enjoys spending time with his wife Lisa and his two daughters Ashlyn and Avery. He spends his spare time golfing, watching UGA football, hiking, traveling, and experiencing different cultures around the world.

Here’s what we discuss in today’s show:

• We've added another member to our wealth management team
• Lee and Keith have known each other for a dozen years
• More about Keith’s family and original education experience at the University of Georgia
• Keith’s early journey as a member of the JL team
• What Keith is looking forward to over the next year

Want to set up a meeting with us? Visit us here: http://talkwithjp.com

Get more financial education at http://myretirementclarity.com

Just like an annual checkup is important for maintaining good health, performing regular financial checkups is an essential part of planning for a healthy and successful retirement. These check-ins help catch potential issues early and allow you to adjust your plans as needed. By regularly reviewing your budget, goals, and progress, you can make informed decisions to stay on track financially.

Although financial wellness will look different for everyone, we’ll share some areas you should be paying attention to in today’s episode. Don't miss these valuable insights to ensure your financial health is in top shape! And if you have any questions about your financial health, be sure to reach out to Lee and his team for personalized guidance.

Here’s what we discuss in today’s show:

• Monitoring budgeting and spending habits + keeping up with your credit score
• Maintaining an emergency fund to handle unexpected expenses and emergencies
• The importance of diversification + being aligned with your risk tolerance
• Proactively planning for the unexpected + being involved in your finances
• How J.L. Perkins Wealth Management helps their clients stay on track

Want to set up a meeting with us? Visit us here: http://talkwithjp.com

Get more financial education at http://myretirementclarity.com

Many people have preconceived notions about what retirement should look like. Oftentimes, TV commercials and retirement shows paint this as a time of life full of endless beach days and exciting vacations. The reality of retirement, however, can be quite different from our expectations.

Listen in as we explore why a realistic approach to retirement, inclusive of financial planning and the potential for unexpected challenges, is crucial. After all, life is full of surprises, and this phase of life is no exception. Luckily, you don’t have to (and shouldn’t) plan for the “what ifs” alone.

Here’s what we discuss in today’s show:

• Retirement is different for everyone, so it’s important to manage your expectations
• Many people underestimate how much they will spend once they retire
• You need to be ready to adjust your plans when unexpected changes occur
• Retirement planning is difficult, and it’s okay to ask for help

Want to set up a meeting with us? Visit us here: http://talkwithjp.com

Get more financial education at http://myretirementclarity.com