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Retire With Ryan

Retire With Ryan

著者： Ryan R Morrissey
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If you're 55 and older and thinking about retirement, then this is the only retirement podcast you need. From tax planning to managing your investment portfolio, we cover the issues you should be thinking about as you develop your financial plan for retirement. Your host, Ryan Morrissey, is a Fee-Only CERTIFIED FINANCIAL PLANNER TM who lives and breathes retirement planning. He'll be bringing you stories and real life examples of how to set yourself up for a successful retirement.2020 Retirewithryan.com. All Rights Reserved 個人ファイナンス 経済学
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  • Avoid These 4 Scams To Protect Your Retirement Savings, #308

    Avoid These 4 Scams To Protect Your Retirement Savings, #308
    2026/06/02
    This week, we tackle the alarming rise in financial scams targeting retirees and their hard-earned savings. With insights straight from the FBI and real-world examples of scam attempts, I break down the key tactics used by fraudsters and reveal the subtle ways they can gain access to your retirement accounts. From sophisticated account takeovers to fake invoice emails, you'll learn the warning signs to watch for—and, most importantly, practical strategies to protect yourself and your financial future. You will want to hear this episode if you are interested in... [00:00] How financial scams work and what listeners can do to protect themselves[03:27] Recognizing scam tactics and risks[09:38] Recognizing fake invoice scams[10:36] Email scams and malware threats[16:30] Adding verbal passwords for security[17:28] Avoiding financial scams Why Retirees Are in Scammers' Crosshairs Retirees often represent an attractive target to scammers, thanks to years of diligent saving and sometimes less familiarity with new scam techniques. With the Federal Bureau of Investigation noting a surge in financial fraud, understanding the mechanics of modern scams is essential. Scammers rely on a proven formula: Use of a trusted-looking senderCreation of a sense of urgencySufficient believable details to seem legitimate When you recognize these methods, retirees and their families can more easily spot fraud attempts and prevent the devastating loss of hard-earned assets. Four Scams Every Retiree Needs to Know 1. The Account Takeover Arguably, the most damaging scam involves fraudsters masquerading as your bank or investment firm. It starts innocuously: a text asks if you authorized a transaction. Replying prompts a phone call from a supposed representative. Thanks to massive data breaches, these scammers may already know your personal details — they just need one missing piece. They'll convince you to read out a "security code" sent by your institution. Handing over this code gives the scammer direct account access, allowing them to transfer funds instantly. Importantly, because you authorized the transaction, financial institutions like Charles Schwab often won't reimburse the loss. 2. The Debt Collector Text Message Here, you get a text from a "debt collector" referencing a fictitious account, amount, or government agency. Designed to provoke fear and haste, these messages trick recipients into calling the number provided or clicking a link — both of which compromise your security or lead to unauthorized payments. 3. The Unpaid Toll Notification You receive an alert for a small, believable toll charge. With such a trivial amount, many people click the link and pay without thinking, handing over payment info to scammers who make larger, unauthorized withdrawals. 4. The Fake Invoice Email Sophisticated emails may claim to be from reputable companies like Microsoft, complete with realistic logos and urgent language about an outstanding invoice. The danger here is twofold: opening the attachment can load malware or ransomware onto your device, or responding to the invoice sends money straight to a crook. Always verify the sender before clicking links or attachments. Great Habits for Scam Prevention This is my seven-point toolkit to keep you one step ahead of scammers. Practice these habits consistently to stay safe: Slow Down: Scammers exploit urgency. Pause, breathe, and verify requests.Don't Answer Unknown Numbers: Let unfamiliar calls go to voicemail, especially those spoofing local area codes.Avoid Clicking Suspicious Links: Always visit official websites or use verified contact numbers when responding to alerts or billing issues.Guard Your Personal Information: Never share sensitive info like PINs, passwords, or codes unless you started the interaction.Use Authenticator Apps: These offer extra security beyond SMS-based codes, which can be intercepted.Add Verbal Passwords to Accounts: Financial institutions often allow this as an additional security measure.Assume It's a Scam: When in doubt, err on the side of caution and reach out to institutions through official channels. Diligence is Your Best Defense Scams will continue to evolve, but the best protection comes from vigilance and skepticism. Always vet instructions that involve your money, pause before acting, and confirm legitimacy through direct contact. Your savings represent a lifetime of work; protect them fiercely so they'll serve you for years to come. Resources Mentioned Retirement Readiness ReviewSubscribe to the Retire with Ryan YouTube ChannelDownload my entire book for FREE Charles SchwabFidelityVanguardEPIC - Equifax Data Breach Connect With Morrissey Wealth Management www.MorrisseyWealthManagement.com/contact Subscribe to Retire With Ryan
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    19 分
  • What Is The Required Minimum Distribution On A $1,000,000 Retirement Account, #307

    What Is The Required Minimum Distribution On A $1,000,000 Retirement Account, #307
    2026/05/26

    Retirement planning extends well beyond simply saving enough during your working years—it plays out with every decision you make once you stop working. One crucial, sometimes overlooked, aspect is managing Required Minimum Distributions (RMDs) from your retirement accounts. If you have a retirement account approaching your RMD age, this episode breaks down the essential rules based on your birth year, how to calculate your distribution using the IRS tables, and key tax implications to keep in mind.

    You'll also get actionable tips to help minimize your future RMDs, from optimizing your income plan and leveraging Roth conversions to using qualified charitable distributions.

    You will want to hear this episode if you are interested in...
    • [00:00] RMD rules and calculations
    • [05:10] RMDs and distribution timing
    • [09:03] Retirement accounts and RMD rules
    • [14:22] Tax strategies for retirement planning
    • [17:00] Common RMD mistakes and solutions
    • [19:21] Proper charitable distribution process

    What Are Required Minimum Distributions (RMDs)?

    RMDs are the minimum amounts you must withdraw annually from certain retirement accounts starting at a specific age, as mandated by the IRS. These distributions apply to traditional IRAs, rollover IRAs, SIMPLE IRAs, SEP IRAs, 401(k)s, 403(b)s, 457 plans, and profit-sharing plans. Importantly, Roth IRAs and Roth 401(k)s are exempt from RMDs, and regular taxable investment accounts are not impacted.

    The required age for beginning RMDs now depends on your birth year:

    • If you were born between January 1, 1951, and December 31, 1959, RMDs start at age 73.
    • If born on January 1, 1960, or later, RMDs begin at age 75.



    Tax Implications of RMDs

    RMDs are taxed as ordinary income. If you're not careful, withdrawals can bump you into a higher tax bracket, increase how much of your Social Security is taxable, or trigger additional Medicare Part B and Part D premiums due to IRMAA. Failing to withdraw the required amount carries a steep penalty—25%, reduced to 10% if corrected within two years.

    Strategies to Lower Your RMDs

    Don't put all your savings in pre-tax accounts. Split between traditional and Roth accounts or invest some in taxable brokerage accounts, which aren't subject to RMDs. It can be useful to collaborate with a financial advisor to create a withdrawal strategy that minimizes taxes by pulling funds strategically from different account types.

    You can also convert portions of your pre-tax accounts to Roth IRAs in years when your income (and tax bracket) is lower, helping "fill the bucket" at the lowest rates. If you retire early, delaying Social Security until age 70 increases your benefit and can create years of low taxable income—perfect for executing Roth conversions. If you're 70½ or older, you can also donate up to $100,000 per year directly from your IRA to a qualified charity. These gifts count toward your RMD but are excluded from taxable income.

    Enjoying a Comfortable Retirement

    Navigating RMDs isn't just about following IRS rules—it's an ongoing strategy to keep your taxes low and your retirement income steady. By understanding your obligations and using the available tools, you can maximize your retirement savings and create a more secure future.



    Resources Mentioned
    • Retirement Readiness Review
    • Subscribe to the Retire with Ryan YouTube Channel
    • Download my entire book for FREE

    Connect With Morrissey Wealth Management

    www.MorrisseyWealthManagement.com/contact



    Subscribe to Retire With Ryan
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    21 分
  • Are You Receiving Your Full Spousal Social Security Benefit? #306

    Are You Receiving Your Full Spousal Social Security Benefit? #306
    2026/05/19
    Are you getting your full entitlement, spousal Social Security, or—like one of my recent clients—missing out on hundreds, even thousands, of dollars each year? This week, I discuss how spousal benefits work, what the eligibility requirements are, and the critical steps you need to take to ensure you aren't leaving money on the table. If you or your spouse are nearing retirement or already collecting benefits, this episode will equip you with the knowledge to maximize your Social Security income and avoid common mistakes. You will want to hear this episode if you are interested in... [00:00] Spousal social security benefits[01:56] Criteria for receiving spousal benefit[02:25] Calculation of spousal social security benefit[07:26] Confusion when both spouses are eligible for their own and spousal benefits[09:46] Sue's social security increase[11:24] Misconception that adjustments are automatic Understanding Spousal Social Security Benefits If you are married (or divorced after a marriage of at least 10 years), you may qualify for spousal Social Security benefits. For those with limited earning histories or lower primary insurance amounts (PIA), this benefit is especially valuable. At your full retirement age (FRA)—which is 67 if you were born in 1960 or later—you can collect up to 50% of your spouse's full retirement benefit, so long as your own benefit is less than half of theirs. If your own benefit exceeds half your spouse's, you'll receive your own larger benefit. Social Security will always pay the higher of the two benefits, but not both combined. This makes it vital to understand where you fall before claiming. How Early Claiming Reduces Your Benefit Timing is critical. Claiming spousal benefits before your FRA means your payments will be permanently reduced. The reductions work as follows: For the first 36 months before your FRA, your benefit is reduced by 25/36 of 1% for every month claimed early.Additional months over 36 are reduced by 5/12 of 1% per month. For example, if a spousal benefit of $800 is claimed 36 months early, the amount drops to $600, a 25% reduction. If claimed 60 months early (at age 62), the benefit falls by roughly 35% to $520. Key Rules of Spousal Benefit Eligibility To receive a spousal benefit, several conditions must be met: Your spouse must be collecting their Social Security benefit (unless you're claiming divorced benefits, in which case your ex only needs to be eligible).You must be at least age 62 (or have a qualifying child under 16 or with a disability in your care).Generally, you need to be married for at least one year before applying, though this rule doesn't apply if you're the parent of your spouse's child.If divorced, you must have been married for at least 10 years. Spousal benefits do not increase if you wait past your full retirement age to claim. The maximum is always 50% of your spouse's PIA. Delaying only increases benefits on your own work record, not on a spousal claim. Spousal Benefits Are Not Automatic One major pitfall couples face is assuming that spousal benefits "switch on" automatically when their higher-earning spouse starts collecting their benefit. In reality, the Social Security Administration often needs to be contacted directly to initiate the higher spousal benefit. I share a case where a client (Sue) was entitled to a much larger benefit once her husband began taking Social Security at age 70, yet her benefit wasn't increased until she contacted Social Security, resulting in a missed $900/month for six months. Social Security would only issue six months of retroactive pay, meaning the client lost out on another six months of increased income. Don't assume the system will identify and correct missed benefits for you—it's up to you (and your advisor) to ensure you're receiving everything you've earned. Resources Mentioned Retirement Readiness ReviewSubscribe to the Retire with Ryan YouTube ChannelDownload my entire book for FREE Social Security Fairness Act Connect With Morrissey Wealth Management www.MorrisseyWealthManagement.com/contact Subscribe to Retire With Ryan
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    14 分
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