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025: Growing Government Debt and a Future with Potential Higher Taxes
Manage episode 453499344 series 3610444
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The "Own Your Retirement Show," hosted by Josh Bretl and Mark Elliott, tackles a variety of important financial topics to help retirees and pre-retirees take control of their financial futures. The show kicks off with a personal and heartwarming story from Josh about a father-daughter camping weekend, demonstrating the value of building meaningful memories amidst life’s busy moments. From there, the discussion moved into pressing financial matters, including year-end retirement planning priorities. Key topics include managing Required Minimum Distributions (RMDs), exploring Medicare enrollment changes, and maximizing Roth conversions for tax efficiency.
The conversation also emphasized taking responsibility for financial planning, particularly in the face of rising national debt, potential tax increases, and evolving Social Security challenges. Josh highlights strategies for debt management, the importance of a retirement income plan, and the psychology of financial decisions, such as whether to pay off a mortgage or delay Social Security benefits. Throughout the program, listeners were encouraged to take a proactive approach to their financial health by seeking expert guidance. For those wanting personalized advice, the show offered complimentary consultations through FSR Wealth Strategies, providing an opportunity to plan for taxes, investments, healthcare, and legacy needs effectively.
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