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Make sure you can Retire Ready with Kyle Hammerschmidt, the President of MOKAN Financial in Overland Park, KS. Kyle will teach you on each episode how to properly plan for retirement and your financial future. Learn about IRAs, 401ks, pensions, Social Security, and much more. Contact Kyle with any questions at https://mokanwealth.com or by calling 913-257-3991.
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Send us a text This week on Retire Ready, host Kyle Hammerschmidt breaks down the latest updates and strategies to help you maximize your retirement savings. With big changes to contribution limits thanks to the Secure Act 2.0, it’s more important than ever to stay informed and plan ahead. 🎧 Highlights from the Episode: 🚀 2025 Contribution Limit Updates: Learn about the new limits for 401(k), 403(b), 457 plans, and the federal Thrift Savings Plan—now up to $23,500 (with even bigger boosts for...
Send us a text In this episode, Kyle, dives into one of his favorite tax planning tools: Roth conversions. If you’ve got over a million dollars saved in your retirement accounts, this could be the most impactful eight minutes of your week. Learn how Roth conversions can transform your retirement savings, offering benefits like tax-free withdrawals, freedom from Required Minimum Distributions, and protection against future tax hikes. Discover how they can help diversify your income, optimize y...
Send us a text Welcome to Retire Ready, the podcast that simplifies the complexities of retirement planning so you can confidently prepare for your golden years. Hosted by Kyle Hammerschmidt, this show dives into crucial topics like Social Security, retirement income strategies, and the decisions that can make or break your financial future. In this episode, we cover: The basics of Social Security: how it works and how to qualify. The impact of claiming Social Security early vs. delaying be...
Send us a text In this episode, Kyle dives into a critical yet often misunderstood aspect of retirement planning: the taxation of Social Security benefits. Many assume these benefits are tax-free, but the reality can be a costly surprise for retirees. Kyle breaks down the basics of Social Security taxation, explains how your income impacts tax thresholds, and shares actionable strategies to reduce your tax burden. You'll learn how to calculate your "combined income," why up to 85% of your ben...
Send us a text Podcast Description: In this episode of Retire Ready with Kyle Hammerschmidt, we’re tackling one of the most critical steps in your retirement journey: applying for Social Security benefits. Whether you're planning to claim at 62, hold out until 70, or fall somewhere in between, this episode has you covered with actionable advice. Kyle breaks down the application process step-by-step, including how to gather the right documents, decide whether to apply online or in person, and ...
Send us a text In this week’s episode, host Kyle Hammerschmidt dives into a detailed case study of "John and Mary," a married couple from Kansas, both aged 59, preparing to retire in five years. Kyle breaks down their financial landscape, including $1.7 million in tax-advantaged retirement accounts, Social Security strategies, and their goals of maintaining their current lifestyle while minimizing lifetime tax burdens. From restructuring investments to navigating Roth conversions, thi...
Send us a text Planning for retirement is a journey, and choosing the right financial advisor is one of the most critical decisions you'll make. In this episode of Retire Ready, host Kyle Hammerschmidt unpacks the essentials for finding the perfect advisor to guide you through the complexities of retirement planning. 🔑 What You'll Learn: - The Six-Point Checklist: - Fee-only financial advisors and why their transparency matters. - The importance of independe...
Send us a text In this episode, Kyle dives into a real-world retirement planning case study featuring a pre-retiree couple in their early 60s with diverse income streams, including Social Security, pensions, rental income, and investments. This discussion addresses three main concerns: maximizing Social Security, implementing a strategic Roth conversion plan, and developing an efficient withdrawal strategy. Kyle highlights how the couple’s financial choices—such as delaying Social Secu...
Send us a text In this episode, we’re diving into a topic that’s going to impact everyone’s finances in the coming year: the new 2025 federal income tax brackets. The IRS recently announced adjustments to the tax bracket ranges to keep up with inflation, helping taxpayers avoid "bracket creep" — the phenomenon where inflation alone pushes you into a higher tax bracket without any real gain in purchasing power. We’ll break down what these changes mean for different income levels and compare th...
Send us a text In this episode, we explore essential retirement strategies through a real-life case study. Topics include: Crafting a sustainable retirement income planRoth conversion strategies and how they can benefit retireesMaximizing Social Security to enhance incomeTax-efficient withdrawal strategies for lasting savingsNavigating retirement income guardrails to minimize riskAligning financial goals with a tailored retirement planWhether you're preparing for retirement or already retired...
Send us a text In today’s episode, we’re diving deep into the 2025 Social Security changes that will impact your retirement plans. We’ll cover the essential updates, including: 2025 COLA IncreaseEarnings Limits for Working RetireesImpact on Your BenefitsHolistic Retirement PlanningWhether you're already retired or planning your retirement, this episode is packed with valuable insights to help you make the most of your Social Security benefits. Be sure to subscribe, rate, and review to stay u...
Send us a text In this episode, Kyle covers Roth conversions and how they can revolutionize your retirement strategy. Key topics include: The "five golden windows" for optimal Roth conversionsHow Roth IRAs and conversions work, including income limits and tax benefitsUnderstanding backdoor Roth IRAs for high-income earnersStrategies to minimize taxes and maximize tax-free retirement incomeLong-term planning tips for legacy building and Social Security optimizationWhether you're looking to cut...
Send us a text Join Kyle as he dives deep into the critical distinction between risk tolerance and risk capacity, two essential components for building a successful retirement strategy. In this episode, Kolin explains the emotional and rational sides of risk and how they influence investment decisions. Discover real-world examples and learn why understanding your true financial situation is more important than relying solely on your gut feeling. Key Highlights: Risk Tolerance vs. Risk Capacit...
Send us a text In this episode, we dive into the top concerns for individuals nearing retirement, such as how to maximize Social Security benefits, implement tax-efficient strategies, and develop a comprehensive retirement plan that goes beyond just investments. Discover overlooked strategies that can help you keep more of your income and minimize risks as you plan for a secure retirement. Tune in to learn actionable tips and insights on: Maximizing Social Security benefits beyond the typical...
Send us a text Are you feeling overwhelmed by Medicare and healthcare coverage? Join Kyle Hammersmith, where he breaks down the essentials of Medicare into nine easy-to-understand tips. From the basics of Medicare parts A, B, C, and D to crucial enrollment periods and cost considerations, this episode empowers you to navigate your healthcare benefits confidently. Episode Highlights: Understanding MedicareMedicare Parts Explained Enrollment PeriodsCost BreakdownMedigap and Medicare Advant...
Send us a text Today, Kyle Hammerschmidt dives deep into the crucial topic of tax planning for retirement, focusing on Roth conversions, tax diversification, and essential strategies for those within 10 years of retirement. Tax planning is a vital, yet often overlooked, part of retirement preparation. By understanding how to manage your taxes effectively, you can save thousands and ensure you’re not leaving money on the table. In this video, we’ll explore: - Tax Diversification - Roth Conve...
Send us a text This episode of Retire Ready with Kyle Hammerschmidt is your ultimate guide to maximizing Social Security benefits for married couples. Whether you’re approaching retirement or just starting to plan, you won’t want to miss these crucial strategies that could put thousands of extra dollars in your pocket. In this episode, you’ll learn: Understanding Social Security Basics: How benefits are calculated based on your earnings record and what options are available for married ...
Send us a text Welcome to the Retire Ready Podcast! In this episode, hosts Kolin and Kyle explore essential tips to avoid common retirement planning mistakes. Key topics include: Emotional Investing: How letting emotions drive your investment decisions can impact your long-term financial health.Social Security Timing: The consequences of claiming Social Security at the wrong time and how to make strategic decisions based on your overall plan.Estate Planning Essentials: Why having a comprehens...
Send us a text In this episode, Kyle and Kolin dive into the crucial topic of control in retirement planning. They discuss three aspects you can’t control, such as tax rates, inflation, and market volatility, and how to navigate these challenges effectively. They also explore three critical elements you can control, including withdrawal rates, risk management, and lifetime taxes. Join us as we cover: Uncontrollable Factors: How future tax laws, inflation, and market volatility impact your ret...
Send us a text In this episode of the Retire Ready Podcast, Kyle and Kolin dive into the common investment pitfalls that can derail your retirement planning. From the risks of confusing short-term and long-term investments to the dangers of letting emotions and media hype dictate your decisions, they cover essential strategies to help you stay on track. Tune in for practical advice and insights to keep your retirement plan robust and resilient. In this episode, you’ll learn: Understanding Sho...
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