The Big "GOTCHA" When Starting Social Security - Earnings Limits (with Examples) The True Wealth Show podcast

12:19

As retirement approaches, the financial decisions you make now matter more than ever. In this episode, Mike Potter, CFP®, MBA, breaks down five of the most common—and costly—investment mistakes made by pre-retirees. From holding too much cash to poor tax diversification, each mistake could quietly erode your long-term financial security. You’ll learn: ✅ Why too much “safety” can be dangerous ✅ The hidden risk of concentrated positions ✅ How to create flexibility with tax-diverse accounts ✅ The importance of planning for longevity ✅ Why market timing near retirement can backfire Whether you’re 5 or 10 years out, this episode will help you finish well and retire with confidence ---------------------------------------------------------------------------------- Check out the Resources to Plan Your Christian Retirement: https://www.PlanYourChristianRetirement.com ---------------------------------------------------------------------------------- Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial. Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation at the link below. ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Work with Mike: https://www.truewealthfg.com…

The True Wealth Show

1
The Retirement Blind Spot: Over-Reliance on a 401(k) 13:23

27 days ago13:23

13:23

While a 401(k) is a great retirement investment vehicle, it also has some downsides. In this episode, I share 7 limitations to only investing in your 401(k). ---------------------------------------------------------------------------------- Check out the Resources to Plan Your Christian Retirement: https://www.PlanYourChristianRetirement.com ---------------------------------------------------------------------------------- Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial. Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation at the link below. ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Work with Mike: https://www.truewealthfg.com…

The True Wealth Show

1
Understanding Investment Returns and Risks in Retirement 25:11

5 weeks ago25:11

25:11

Investing is the 2nd Pillar in the True Wealth Total Retirement System. But investing is not only about return, but also risk. In this episode, I share some of the risks involved, do a deep dive on market risk, and explain how this impacts one's retirement. https://www.portfoliovisualizer.com/backtest-portfolio ---------------------------------------------------------------------------------- Check out the Resources to Plan Your Christian Retirement: https://www.PlanYourChristianRetirement.com ---------------------------------------------------------------------------------- Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial. Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation at the link below. ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Work with Mike: https://www.truewealthfg.com…

The True Wealth Show

1
Investing Before and After the Paychecks Stop 31:45

6 weeks ago31:45

31:45

Investing is the 2nd Pillar in the True Wealth Total Retirement System. But investing changes, as one approaches retirement. In this episode I share the two stages of investing, the dependencies between the two, and the different aspects or details of both phases. We also have a retirement litmus test Use Case of Tom and Kay from Idaho. ---------------------------------------------------------------------------------- Check out the Resources to Plan Your Christian Retirement: https://www.PlanYourChristianRetirement.com ---------------------------------------------------------------------------------- Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial. Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation at the link below. ----------------------------------------------------------------------------------…

The True Wealth Show

1
Can Rachel Retire at 67 with $250k? 18:15

7 weeks ago18:15

18:15

Rachel wants to retire in two years at age 67 and she currently has $250k saved for retirement. In this episode, I explore Rachel's use case to see if he has a feasible plan and 3 ways where we can possible improve it. Check out the Resources to Plan Your Christian Retirement: https://www.PlanYourChristianRetirement.com ---------------------------------------------------------------------------------- Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation at the link below. ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Work with Mike: https://www.truewealthfg.com…

The True Wealth Show

1
Enhanced "Tax" Deductions for Seniors 17:33

8 weeks ago17:33

17:33

The One Big Beautiful Bill is making it's way through Congress. In this episode, I detail 15 tax advantages for seniors found in the proposed legislation, that can help reduce your future retirement tax bill. Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial . Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation . ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Work with Mike: https://www.truewealthfg.com…

The True Wealth Show

1
Social Security Projected Benefits Cuts due to Insolvency In 2033 19:50

9 weeks ago19:50

19:50

The 2024 Social Security (OASI) Trustee Report again highlighted that under the current assumptions, the trust fund will be depleted in 2033. With Social Security Benefits is 1 of the 4 potential sources of retirement income, it could have a plan. In this episode, I detail what the administration is say, what it means, what you can do about it, and what I think will happen. Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial . Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation . ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Work with Mike: https://www.truewealthfg.com…

The True Wealth Show

1
The Big "GOTCHA" when Starting Social Security - Earnings Limits (with examples) 23:12

10 weeks ago23:12

23:12

Social Security Benefits is 1 of the 4 potential sources of retirement income, but there are also earning limits that may be in play as well. In this episode, I explain how SSA earning tests work (with examples), how to handle them in practice, and a special rule that might be available to help avoid the reduction of benefits. Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial . Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation . ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Work with Mike: https://www.truewealthfg.com…

The True Wealth Show

1
How Social Security is Taxed (and means to reduce it) 20:34

11 weeks ago20:34

20:34

Social Security Benefits is one of the 4 potential source of retirement income, but it's still taxed. In this episode, I explain how it's taxed, give you some examples, and list 6 potential means to reduce the it. Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial . Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation . ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Work with Mike: https://www.truewealthfg.com…

The True Wealth Show

1
Social Security Survivor Benefits Explanation (including examples) 16:06

12 weeks ago16:06

16:06

The loss of a spouse is hard enough. Sadly, their loss also adds a financial loss or impact as well. Social Security Benefits help fill some of that financial loss. In this episode, I explain how SURVIVOR benefits work, to include eligibility requirements, amounts of benefits, and show a couple of examples. Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial . Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation . ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Work with Mike: https://www.truewealthfg.com…

The True Wealth Show

1
Spousal Social Security Benefits Explanation (and examples) 18:30

13 weeks ago18:30

18:30

Social Security Benefits is one of the 4 potential source of retirement income. In this episode, I explain how SPOUSAL benefits, to include eligibility requirements, amounts of benefits, and show a couple of examples. Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial . Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation . ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Work with Mike: https://www.truewealthfg.com…

The True Wealth Show

1
5 Resource to Calculate Social Security Benefits 22:23

14 weeks ago22:23

22:23

Social Security Benefits is one of the 4 potential source of retirement income. In this episode, I explain how benefits are calculated, walk through an example, and give you 5 resources to potentially calculate your benefits. Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial . Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation . ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Have a Conversation with Mike: https://calendly.com/conversation-wit... True Wealth Financial: www.truewealthfg.com…

The True Wealth Show

1
Social Security Benefits Might be More Than You Think....! 18:39

15 weeks ago18:39

18:39

Social Security Benefits is one of the 4 potential source of retirement income. In this episode, I give some basic information on Social Security, how they benefits you receive might be more than you think, and some key factors to consider when deciding to take Social Security. Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial . Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation . ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Have a Conversation with Mike: https://calendly.com/conversation-wit... True Wealth Financial: www.truewealthfg.com…

The True Wealth Show

1
5 Metrics to Determine if "Am I On Track for Retirement?" 15:40

16 weeks ago15:40

15:40

Like the dashboard of your vehicle gives you information about your car while driving it, there are some major financial metrics to determine how you retirement is going. Today, I address and show you those 5 metrics you can monitor on your path to retirement. Who am I ? Mike Potter is a Christian Financial Advisor, who specializes in Retirement Planning for 50+ year old Christians. Mike is a CERTIFIED FINANCIAL PLANNER® profession and owner of True Wealth Financial . Mike has a standing policy that he’ll give anyone 30 minutes of his time, for no cost and with no obligation. If you have any questions, please feel free to schedule a conversation . ---------------------------------------------------------------------------------- Email Mike: mike@truewealth.show Have a Conversation with Mike: https://calendly.com/conversation-wit... True Wealth Financial: www.truewealthfg.com…

The True Wealth Show

1
A Framework to Answer the 5 Big Retirement Questions - True Wealth Total Retirement System 19:17

17 weeks ago19:17