Ready For Retirement

Ready For Retirement

James Conole, CFP®

Ready For Retirement is the podcast dedicated to helping you learn the tips and strategies that will help you achieve your retirement goals. When it comes to retirement planning, it can quickly become overwhelming and easy to not take action. I designed this podcast because I want you to have the knowledge and confidence to create your secure retirement. My ultimate goal for all of my clients (and listeners) is to create peace of mind and that starts with having a strategy. I want you to spend more time thinking about what matters most to you in retirement. I post weekly episodes to keep you up-to-date on all the best tips and strategies to create a retirement that excites you. Everything from investing tips, tax planning, withdrawal strategies, insurance planning, Social Security, and that's just the start! Let's help you maximize your return on life. We use your money and the strategies I share in this podcast to do just that!

Categories: Education

Listen to the last episode:

Benjamin, nearing retirement at 65, faces a familiar dilemma with his taxable account housing expensive mutual funds. Despite their underperformance, converting to low-cost index funds entails a significant tax hit due to long-held appreciable value. 

James explains weighing the immediate tax consequences against the risk of holding onto underperforming assets. He also provides a framework for assessing risk, identifying options, and making decisions based on personal financial goals.

Questions Answered: 
How can you decide whether to sell underperforming mutual funds or continue holding onto them?  

What factors should you consider in determining whether converting to low-cost index funds aligns with your financial goals and risk tolerance?

0:00 - Listener question from Benjamin
2:17 - Tail wagging dog?
3:52 - Benjamin’s situation
5:31 - WCS of selling vs not selling
11:17 - Be careful about tax drag
12:47 - Rethinking the break-even point
14:11 - Consider your goal for the money
17:17 - Identify the bigger risk
19:26 - Make your decision
20:26 - Will your tax situation change?
24:20 - Consider staggering sales
28:21 - Summary

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Previous episodes

  • 203 - At What Point Should I Take the Tax Hit on Unrealized Gains? 
    Tue, 20 Feb 2024
  • 202 - Maximize Your Early Retirement: Should You Save to 401k or Brokerage Accounts? 
    Tue, 13 Feb 2024
  • 201 - Safe Withdrawal Rate Myths: Debunking 3 Common 4% Rule Mistakes 
    Tue, 06 Feb 2024
  • 200 - Secrets to a Happy Retirement: What the Research Shows 
    Tue, 30 Jan 2024
  • 199 - What's the Right Roth Conversion Amount to Avoid a Tax Nightmare in the Future? 
    Tue, 23 Jan 2024
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