Social Security

Social Security Article

October 19, 2022

2023 Social Security Benefits to Increase

Starting in 2023, 70 million Social Security recipients will see an 8.7% bump in their benefits with the new cost-of-living adjustment (COLA). For reference, last year beneficiaries saw a 5.9% increase, and in 2021 there was a 1.3% increase.

The increase comes as most Americans battle increased prices caused by rampant inflation throughout 2022. The goal is to give seniors more peace of mind as costs increase.

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Social Security Article

October 19, 2022

2023 Social Security Benefits to Increase

The increase comes as most Americans battle increased prices caused by rampant inflation throughout 2022. The goal is to give seniors more peace of mind as costs increase.

PDF Document

Social Security Decisions Guide

Regardless if Social Security will or will not be your primary source of income in retirement, if you take your Social Security benefits at face value you could be leaving money on the table.

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Investments Article

September 20, 2023

Retirement Rules of Thumb: Let’s Bust Them

Do you have some retirement rules of thumb that you follow? Some of them might be helpful with getting you in the right mindset to save for retirement, but there are issues with every one of them. Why? Because your financial plan needs to be built based upon your unique situation.

Retirement Article

July 19, 2023

Retiring Before 62: What You Need to Consider

Do you want to retire at or before 62 because that's when you can start claiming Social Security? Here's what all you need to consider.

Social Security Article

June 20, 2023

Social Security Benefits for a Surviving Spouse

Social Security benefits for a surviving spouse can oftentimes be overlooked until one spouse passes away. It's one of the many reasons why planning ahead on how to claim Social Security is so critical.

Retirement Article

May 1, 2023

Roth Conversion Rules

There's much more than meets the eye when deciding to contribute to Roth or traditional. Dean Barber and Bud Kasper review the Roth conversion rules on America's Wealth Management Show.

Retirement Article

April 6, 2023

Retirement Withdrawal Strategy: You Need a Plan

There are many factors when considering when and from which accounts to make withdrawals from in retirement, such as sequence of return risk, Required Minimum Distributions, and tax implications. Navigating the dynamics of retirement planning is what Dean Barber, Logan DeGraeve, and the rest of our team do every day. Dean and Logan will elaborate on that and explain why having a retirement withdrawal strategy when you’re in or approaching retirement is critical on America’s Wealth Management Show.

Retirement Article

March 31, 2023

Things Retirees Should Stop Doing

We try to share as much education with you as possible on things you should do to prepare for and do in retirement so that you can live your one best financial life. But there are things that you need to avoid doing in retirement as well. Dean Barber and Bud Kasper review a few things that retirees should stop doing on the latest episode of America’s Wealth Management Show.

Investments Article

January 19, 2023

Retirement Income During a Recession

Recession signals remain strong as we begin 2023. We discuss how to go about saving and protecting your retirement income during a recession.

Insurance Article

January 5, 2023

5 Financial Updates for 2023

We're excited to put 2022 in the rearview mirror. As we round out the first week of 2023, here are five financial updates to keep tabs on.

Investments Article

October 27, 2022

8 Retirement Challenges That You Didn’t Have While Working

Planning for a fulfilling retirement isn’t something that can be done in a blink of an eye. It takes time and a lot of preparation to overcome a lot of retirement challenges that many people don’t even think about. Bud Kasper and Logan DeGraeve review those retirement challenges and encourage you to start building your financial plan sooner rather than later.

Estate Planning Article

October 17, 2022

Understanding Your Tax Allocation

Logan DeGraeve breaks down the three tax allocation buckets and how proper tax diversification can make a big difference in your retirement.

Investments Article

October 21, 2022

Reading Your Balance Sheet and Income Statement

Will Doty reviews how to read your balance sheet and income statement, and how it all comes back to your comprehensive financial plan.

Social Security Article

October 19, 2022

2023 Social Security Benefits to Increase

The increase comes as most Americans battle increased prices caused by rampant inflation throughout 2022. The goal is to give seniors more peace of mind as costs increase.

Estate Planning Article

October 13, 2022

5 Wealth Protection Tactics

If we’ve learned anything about what the market has done in 2022, it’s that being patient is pivotal. Rather than giving into fear and greed, Dean Barber and Bud Kasper share five wealth protection tactics to help give your clarity when financial planning.

Retirement Article

October 10, 2022

Retirement Analysis: Current vs. Proposed Plan

Drew Jones shares his perspective on retirement analysis while going through a sample couple's plan with our financial planning tool.

Estate Planning Article

October 6, 2022

October Is National Financial Planning Month

Did you know that October is National Financial Planning Month? It honestly came close to slipping our minds because we believe every month should be National Financial Planning Month. Dean Barber, Bud Kasper, and Matt Kasper celebrated National Financial Planning Month by discussing the importance of having a comprehensive financial plan on America's Wealth Management Show.

Estate Planning Article

September 23, 2022

7 Reasons Why Tax Planning Is So Important

When it comes to advanced tax planning, unfortunately many people either just don’t do it or they wait until the last minute only to find out that there aren’t any options to take advantage of at the point of filing their tax return.

Investments Article

September 8, 2022

8 Ways to Combat Financial Uncertainty

All the financial uncertainty that we’re dealing with seems to be coming at us from every angle. While this financial uncertainty is uncomfortable, it’s not uncommon. From the Dot-Com Bubble to the Financial Crisis, we’ve been through cycles similar to this. Dean Barber and Bud Kasper look back at some of those cycles and review eight ways to combat financial uncertainty.

Retirement Article

August 8, 2022

How Much Do I Need to Retire?

Have you been asking yourself, "How much do I need to retire?" a lot lately? A financial plan is critical to getting an honest answer to that.

Investments Article

July 25, 2022

6 Reasons Roth Conversions Could Work for You

If you read our blog post from earlier this month titled, 8 Ways to Prepare for a Recession, you might remember that Roth conversions were No. 1 on the list. While Roth conversions aren’t for everyone, there are quite a few reasons why they could be right for you.

Investments Article

June 2, 2022

A Recent History of Bear Markets

Clarity, confidence, and control within your financial plan is of the utmost importance right now amid these turbulent times in the markets so you can accomplishment your goals in retirement. Dean Barber and Bud Kasper review a recent history of bear markets and how you can stress test your financial plan through periods like the Dot-Com Bubble and Great Recession.

Investments Article

March 31, 2022

The True Meaning of Tax Planning

Tax filing has been top of mind lately with the April 18 deadline fast approaching. While the tax compliance window is closing for this year, it’s important to remember that the tax planning window is always open. Bud Kasper and Logan DeGraeve discuss the true meaning of tax planning and how to best mitigate taxes over your lifetime.

Investments Article

February 24, 2022

Managing Risk in the Markets

Between the Federal Reserve’s decision on rising interest rates and the situation with Russia and Ukraine, there are a lot of unknowns right now. Dean Barber and Bud Kasper discuss the importance of controlling what you can control by managing market risk to alleviate the angst of the unknowns.

Investments Article

February 4, 2022

10 Ways to Fight Inflation in Retirement

In recent months, we’ve all felt inflation’s impact at restaurants, gas stations, grocery stores, and so many other places. There’s no question that inflation has made its presence known, especially among retirees. It’s important to us that you to continue to live your one best financial life despite these inflationary issues, so we’ve compiled a list of ways to fight inflation.

Estate Planning Article

January 13, 2022

What Is the Guided Retirement System?

You’ve probably heard Dean Barber and Bud Kasper mention the Guided Retirement System several times on America’s Wealth Management. Here is their step-by-step breakdown of the Guided Retirement System to ensure people understand what it is all about.

Retirement Article

December 27, 2021

Reviewing Your Retirement Checklist for 2022

As we begin 2022, we want to review your retirement checklist. While we want to put you in a successful financial position for the new year, we’re focused primarily on helping you live your one best financial life throughout your retirement. Our Retirement Plan Checklist can help you do exactly that.

Investments Article

December 2, 2021

Safe Withdrawal Rates

Dean Barber and Bud Kasper discuss safe withdrawal rates and why they should be different for each person based on their financial plan.

Retirement Article

November 18, 2021

Making the Most of Market Opportunities

A financial plan can make a world of difference, especially when you're making the most of market opportunities. Dean Barber and Bud Kasper look at some of those opportunities, as well as ones outside of the market, to help you live your one best financial life.

Retirement Article

October 19, 2021

Social Security Cost-of-Living Adjustment Set for 5.9% Increase in 2022

The Social Security Administration announced that the Social Security cost-of-living adjustment will increase 5.9% in 2022, which is the biggest annual uptick in 40 years.

Investments Article

October 12, 2021

Predicting the Future of Your Retirement

There is contrast between the uncertainties in retirement and your career. Learn more about how you can predict the future of your retirement.

Retirement Article

July 30, 2021

Retiring with $1 Million

What could retirement look like with $1 million? We're going to show you four different couples. One couple, which we referred to as the average couple, with a 60/40 portfolio, claiming Social Security at 62, would be able to spend $3.5 million over a lifetime.

Retirement Article

July 30, 2021

How $750k Can Go as Far as $1 Million in Retirement

Would you rather have $750,000 or $1 million? On its face, this question seems like a no-brainer. One million dollars is a larger number than $750,000, so that has to be the correct answer – right?

Investments Article

March 25, 2021

Income in a Low Interest Rate Environment

We've been in a low interest rate environment for quite some time, but we're in a little bit different situation today than we have been, say, over the last decade.

Insurance Article

February 25, 2021

Top 10 Risks in Retirement

When you ask the question, "What's your biggest fear in retirement?" Most people will say it's the fear of running out of money. Join Dean Barber and Bud Kasper, as they talk about the top 10 risks in retirement and what you can do to mitigate those risks.

Investments Article

February 11, 2021

11 Tax Tips for Tax Time

It's everyone's favorite time of year, it's tax time! Well, maybe not. Join Dean Barber and JoAnn Huber, CPA and CFP®, as they discuss 11 tax tips for tax time. Believe it or not, what you're doing during tax season is reporting history. The question really is: What can you do to reduce your tax bill in the future?

Retirement Article

October 22, 2020

Top 5 Money Mistakes to Avoid in Retirement

There are some things that can be downright frightening for those of you planning for retirement. Let's take a look at some of the money mistakes to avoid that go bump in the night for retirees.

Social Security Article

October 16, 2020

The Future of Social Security

The future of Social Security has been a topic of discussion and a playground of endless speculation for as long as most of us can remember. It's difficult to think of another financial/political issue that has been the center of as much attention as this one. And for good reason.

Estate Planning Article

October 15, 2020

Top 10 Financial Planning Considerations

It's National Financial Planning Month! Join Dean Barber and Bud Kasper as they outline the top ten financial planning considerations. This is by no means a complete list of everything you need to do, but if you get these top ten in your financial plan, it can help you get clarity, confidence, and control for your retirement.

Estate Planning Article

June 19, 2020

7 Retirement Strategies to Retire Successfully

This list of strategies will hopefully give you a great place to start if you're getting ready to retire or just curious about preparing for retirement. Our goal is to provide you with simple yet effective retirement strategies that do not only focus on investment tactics or savings percentages. Instead, we hope to give you a toolbox of strategies for retirement with which you can combine to build the retirement of your dreams.

Estate Planning Article

March 4, 2021

20 Things to Do Before You Retire in the 2020s

Well, here we are approaching the close of another decade. As many often do near the end of a milestone, we’re doing a countdown. However, this countdown isn’t looking back over the past decade, but rather forward toward the decade on the horizon. New decades often mean new goals, and for many, it’s likely the ultimate goal during our working years, retirement.

Social Security Article

October 24, 2019

Social Security Changes for 2020

The Social Security Administration recently detailed changes to Social Security beneficiaries going into effect at the end of 2019. Starting December 31, 2019, beneficiaries will see an increase in their monthly benefit amounts by 1.6% compared to 2019. For reference, last year's benefits increased by 2.8%, the largest increase since 2011.

Retirement Article

June 7, 2019

Social Security Trust Fund in the News Again

You're probably aware that there are numerous issues surrounding the Social Security Trust Fund, and its ability to pay benefits into the future. Just this past April, the annual Social Security Trustees’ report pegs the trust fund to be depleted by 2035. There’s been a lot of talk about “fixes” for the system.

Investments Article

March 22, 2019

DIY Your Retirement, Can it Really Be Done?

There are thousands of online resources and books that claim to teach you how to DIY (do-it-yourself) your retirement. But is it really possible and does it work?

Retirement Article

October 15, 2020

Social Security Benefits to Increase in 2021

Last week the Social Security Administration announced a 2.8% Cost-of-Living Adjustment, or COLA, beginning in January 2019. It’s the biggest increase since 2012.

Retirement Article

October 26, 2018

Questions About Social Security?

We know Social Security is a complicated system with many rules, regulations, and year-over-year changes. That’s why we regularly bring you articles covering questions that might be top-of-mind for you on claiming your benefits.

Estate Planning Article

July 5, 2018

Navigating Toward Your Financial Independence Day

In July 1776 our founding fathers declared independence from the British Empire, and earlier this week we celebrated that great feat with our family and friends over backyard barbecue and colorful explosions in the sky.

Retirement Article

September 22, 2017

When is My Social Security Break-Even Point?

The breakeven point for a single individual is a fairly simple calculation. The actuaries at the Social Security Administration designed the system so that a person living to the current life expectancy, based on the current mortality tables provided by the US government, will have received the same amount out of Social Security by everyone who reaches life expectancy age.

Retirement Article

September 15, 2017

Is Social Security Tax-Free?

A very common question we are asked at Modern Wealth Management is if Social Security is tax free. The quick answer is: If the only income you have is Social Security you will not pay any taxes on your Social Security.

Retirement Article

June 23, 2017

How is Social Security Taxed?

A common question we receive at Modern Wealth Management is “How will my Social Security be taxed?”

Retirement Article

June 14, 2017

How do I get more Social Security?

Social Security is a very complex system. Social Security was originally formed to allow older workers to exit the workforce without the risk of running out of money in retirement, while allowing room for younger workers to come into the workforce.

The Guided Retirement Show

Investments Podcast

March 24, 2023

Roth Conversions Before and After Retirement with Will Doty

Episode 84 | Will Doty | CFP® Professional
Will Doty and Dean Barber discuss their favorite part of the tax code: Roth IRAs—specifically, Roth conversions before and after retirement.

Retirement Podcast

January 27, 2023

Tax Planning During Tax Preparation Season with Corey Hulstein

Episode 80 | Corey Hulstein | Modern Wealth Management Director of Tax
Our Director of Tax, Corey Hulstein, joins Dean Barber on The Guided Retirement Show to discuss tax planning during tax preparation season.

Insurance Podcast

January 13, 2023

Medicare Changes in 2023 with Taylor Garner

Episode 79 | Taylor Garner | Owner | Garner Insurance Agency, LLC
Garner Insurance Agency, LLC Owner Taylor Garner joins Dean Barber again on The Guided Retirement Show to discuss Medicare changes in 2023.

Estate Planning Podcast

October 7, 2022

Planning for RMDs with Will Doty

Episode 74 | Will Doty | CFP® Professional
Will Doty and Dean Barber explain RMDs, tax planning opportunities surrounding RMDs, how RMDs factor in when leaving money behind for the next generation, and so much more.

Retirement Podcast

September 19, 2022

Taxes in Retirement with Steven Jarvis

Episode 73 | Steven Jarvis, CPA | CEO & Head CPA at Retirement Tax Services
Retirement Tax Services Founder Steven Jarvis joins Dean Barber on The Guided Retirement Show to discuss taxes in retirement and why the collaboration between a CFP® Professional and CPA is a critical part of the financial planning process.

Social Security Podcast

April 8, 2022

Avoiding Costly Mistakes When Claiming Social Security with Ken Sokol

Episode 63 | Ken Sokol - Owner | Financial Spreadsheets, LLC

In today’s episode, we discuss the best (and worst) things you can do in claiming Social Security, why your retirement strategy could be the difference between bringing in or losing $100,000 or more in income, and the financial questions you should be asking yourself as you prepare for retirement.

Social Security Podcast

August 30, 2021

How to Claim the Most from Your Social Security with Marc Kiner & Jim Blair

Episode 49 | Marc Kiner & Jim Blair - Social Security Experts
In this episode, we explore the many different options retirees have when it comes to claiming Social Security. We get into how Social Security is taxed, why different types of retirement income don’t play nice together, and how to put a stop to preventable losses and make the most of this extraordinarily complex program.

Social Security Podcast

October 16, 2020

How to Maximize Your Social Security Benefits with Marc Kiner & Jim Blair

Episode 34 - Marc Kiner | CPA at Premier Social Security Consulting LLC & Jim Blair | Lead Consultant at Premier Social Security Consulting LLC

Today, Marc and Jim join the podcast to talk about the major mistakes that people make as they claim Social Security, how to craft a strategy designed to avoid these pitfalls once and for all, and how to find an advisor who can help you navigate this astoundingly complex system.

Download

PDF Document

Social Security Decisions Guide

Regardless if Social Security will or will not be your primary source of income in retirement, if you take your Social Security benefits at face value you could be leaving money on the table.

Download

Watch

Video

What Is Tax Diversification?

Tax Diversification may not sound like a very exciting topic, but if done correctly over your lifetime, you can pay substantially less in taxes. Our Director of Tax, Corey Hulstein, joins Dean Barber on the Barber Educational Series to explain what tax diversification is and why it’s so important to achieve a successful retirement.

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Video

Retiring During a Recession

Uncertainty has been the theme of 2022. We’ve experienced some jaw-dropping market volatility and inflation, and after back-to-back quarters of negative GDP growth, we’re technically in a recession. All this uncertainty has only enhanced our firm’s commitment to help people continuing living their one best financial life. In this Modern Wealth Management Educational Series event, Drew Jones joins Dean Barber to discuss what it’s like to retire during a recession.

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Video

Maximizing Social Security Benefits

Will Doty joins Dean Barber to talk about Social Security claiming strategies and why maximizing your Social Security benefit is a critical part of your overall financial plan.

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Video

IRA Planning for 2022

After reviewing 401(k) planning for 2022 in January, we’re slightly shifting gears here for this Modern Wealth Management Educational Series event to discuss IRA planning for 2022. While a 401(k) is often people’s largest asset, IRAs are oftentimes their second largest asset. Chris Rett recently joined Dean Barber to break down IRA planning for people at various stages of their lives.

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Video

Claiming Your Social Security

In this webinar, Will Doty, CFP®, discusses the importance of properly claiming your Social Security. During this on-demand webinar, Will covers the differences in claiming strategies, spousal situations, the impact of Social Security on taxes, and more. This webinar is designed to give you a better understanding of how Social Security fits into your overall financial plan.

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Video

Savvy IRA Planning for Boomers

Financial Advisor Drew Jones presents an updated version of our Savvy IRA Planning for Boomers webinar. IRA Planning is a complex process. Factor in recent changes from the SECURE Act, and it gets even further complicated. We're here to clear up the noise as Drew presents Savvy IRA Planning for Boomers.

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Video

Retirement Plan Checklist

Financial Advisor Logan DeGraeve presents the Retirement Plan Checklist webinar. In this webinar, Logan will review some of the questions in the checklist as well as things you need to be thinking about in the years leading up to retirement.

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