The Healthy & Wealthy Retirement

Are your beneficiary designations putting your estate at risk without your knowledge? In this episode, certified retirement counselor Mark Struthers sits down with estate planning attorney Jennifer Spalding to identify the hidden risks of beneficiary designations. Listen in to learn the difference between per stirpes and per capita, how probate works, and why healthcare directives matter. You'll discover what you can do today to protect your legacy and your loved ones from costly surprises.   Resources: Special Offer - If you mention the podcast when calling Spalding Law Office and schedule a Life and Legacy Planning Session as a listener of The Healthy & Wealthy Retirement podcast, you’ll get a special discount of $250 off your estate planning. (Plus, if you complete the questionnaire ahead of time, Spalding Law Office will also waive the $750.00 session fee for that meeting.)  Connect with Jennifer: Website | Facebook | LinkedIn | Email | Phone: (952) 486-8855 Check for unclaimed property in Minnesota: MN Unclaimed Property   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Jennifer Spalding ​​Jennifer was born and raised in Minnesota. She attended the University of St. Thomas where she majored in Political Science. Following college, she attended William Mitchell College of Law. Jennifer is admitted to the State of Minnesota, the United States District Court for the State of Minnesota, and the United States Supreme Court. Jennifer is a member of the Minnesota State Bar Association. Jenny was a prosecutor for the city of Eden Prairie prior to moving into Estate Planning. She is currently on the Board of Directors for the Southwest Metro Chamber of Commerce and on the Senior Advisory Committee for the City of Victoria.   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Are you paying too much for Medicare? You might be, especially if you’re overlooking the IRMAA surcharge. This little-known fee can quietly eat into your retirement savings if you're not careful. In this episode, certified retirement counselor Mark Struthers breaks down the top 10 strategies to help reduce or avoid this hidden tax on Medicare premiums. Listen in to learn how smart tax planning, like Roth conversions, tax-efficient withdrawals, and charitable giving, can save you thousands in retirement.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Is retirement more like a sprint or a marathon? Turns out, it’s definitely a marathon, and the lessons from long-distance running might be exactly what your retirement plan needs. Certified retirement counselor Mark Struthers shares personal stories from his half-marathon in Duluth and relates them to practical retirement planning strategies. Listen in to learn how pacing, adaptability, and preparation apply just as much to your finances as they do on race day.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Is the bucket strategy right for your retirement? The idea sounds simple: set aside a few “buckets” to manage your money in retirement. But is it really that easy or effective? Certified retirement counselor Mark Struthers takes a deep dive into the 2+ bucket strategy, a retirement income approach designed to balance predictability and growth. Listen in to learn how the right mix of income, emergency funds, and growth assets can give you peace of mind, why individual bonds may beat bond funds, and what to watch out for when it comes to taxes, inflation, and RMDs.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Does cryptocurrency belong in your retirement account? Some say it’s the future of money. Others call it a digital tulip bubble. With all the hype, headlines, and heated opinions, it’s hard to know what’s signal and what’s noise. Certified retirement counselor Mark Struthers breaks down the real risks and potential rewards of crypto in retirement. Listen in to hear why predictability matters more than performance, how Bitcoin compares to gold, and what to consider before putting even 3% of your portfolio into digital assets.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

What can a 29-year-old sailor with a cat teach us about retirement? More than you’d expect. When Instagram adventurer Oliver Widger, known as “Sailing with Phoenix,” quit his job, cashed out his 401(k), and set sail for Hawaii with nothing but grit and his cat, it raised eyebrows—but it also sparked some interesting ideas. Listen in as certified retirement counselor Mark Struthers shares what retirees can learn from Oliver’s unconventional story, including embracing imperfection, building resilience, and redefining what success looks like in your golden years. It’s a reminder that sometimes, the best retirement plans aren’t just about numbers.   Follow Sailing with Phoenix: https://www.instagram.com/sailing_with_phoenix/?hl=en   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

What if one purchase was enough to throw off your entire retirement plan? It starts small: a new couch, a dream vacation, upgraded luggage… Before you know it, your spending snowballs, and your careful financial planning starts to unravel. It’s called the Diderot effect, and it can lead even the most disciplined retirees into retirement lifestyle creep. Listen in as certified retirement counselor Mark Struthers shares why even the most frugal retirees are vulnerable to this sneaky psychological trap, as well as practical ways to protect your budget—without sacrificing joy in your golden years.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

What are barrier notes? And should they have a place in your retirement portfolio? While barrier notes promise higher returns and some downside protection, certified retirement counselor Mark Struthers explains why these complex investments might be more trouble than they’re worth. Listen in as he breaks down how these products really work, what alternatives could serve you better, and how to ask the right questions before adding them to your retirement portfolio. You'll learn about potential risks, as well as how to evaluate the suitability of barrier notes in the context of your overall retirement strategy and long-term financial goals.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Are TDFs (Target Date Funds) right for you? While they’re marketed as convenient, “set it and forget it” solutions, certified retirement counselor Mark Struthers explains why these popular investment tools may not work for everyone—especially retirees. Many retirees (notably baby boomers) equate the “target date” with a pension-like guarantee, only to be blindsided by volatility and inflexible investment structures when it matters most. Don't let this happen to you—listen to this episode to learn the limitations of TDFs, how they can fall short, and other options that can help you plan for a more secure retirement.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Could a simple mistake cost you thousands in Social Security benefits? The short answer is yes. Claiming too early, misjudging work penalties, or overlooking survivorship benefits can take a serious toll on your retirement income. So how do you avoid this? Tune in as certified retirement counselor Mark Struthers breaks down the top three Social Security mistakes couples make—and what to do instead. You'll learn how to coordinate benefits for maximum lifetime value, how work income can reduce early benefits, and why timing your claim isn't just about today’s cash flow, but about long-term security for both partners.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Will your Roth IRA survive the SECURE Act? As the rules around wealth transfer keep shifting, certified retirement counselor Mark Struthers breaks down what the SECURE Act means for your Roth IRA and, more importantly, for your heirs. Listen in as we explore why Roth IRAs are still a powerful tool, how new beneficiary rules could impact your estate plan, and why making informed—not fear-driven—decisions is critical. We’ll cover the differences between non-designated, designated, and eligible designated beneficiaries, plus the tax traps and planning strategies you need to know.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Will Social Security still be around when you retire? As fears about its future continue to rise, certified retirement counselor Mark Struthers cuts through the noise with a grounded, facts-first approach to solvency, accessibility, and the threat of termination. Listen in as we talk about why full termination is highly unlikely, how accessibility issues have changed post-COVID, and what kinds of adjustments (like tax caps or delayed retirement ages) are on the table to help preserve the system. Whether you’re nearing retirement or decades away, this episode offers practical insights to help you plan with confidence.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Should you be making changes to your portfolio with a recession looming? Market volatility brings a lot of anxiety, especially when retirement is just around the corner. But reacting out of fear can do more harm than good. Listen in as your certified retirement counselor Mark Struthers breaks down the main difference between strategy and tactics, as well as why knowing the difference can help you stay the course. Using a simple road trip analogy, he explains how to stick with your long-term plan while still making smart, tactical moves when the market throws you a curveball. You'll learn when it makes sense to make changes and how to think about risk, detours, and staying on track.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Confused by the Roth 5-year rule? If so, you’re not alone. The Roth IRA can feel like a financial enigma, and the 5-year rule is often misunderstood, leading to hesitation and missed opportunities. But today, we’re breaking down the mystery. Listen in as your certified retirement counselor Mark Struthers explains the different variations of the 5-year rule, when each applies, and why timing is key—whether you’re planning a Roth conversion, eyeing early retirement, or mapping out a tax strategy. You’ll learn how Roth IRAs grow tax-deferred, when distributions become tax-free, and why even starting with just $10 in a Roth can have major long-term benefits.   Curious about working with Mark? Go to: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure: Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.  This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA.

Welcome to the latest episode of Healthy and Wealthy Retirement. Join host Mark Struthers as he explores the profound insights of Atul Gawande's book "Being Mortal." In this thought-provoking discussion, discover how the book's themes of quality of life, patient decision-making, and healthcare choices intersect with financial and retirement planning. Learn why it's crucial to be an active participant in your own life decisions, both medical and financial, to ensure a prosperous and fulfilling retirement. Gain practical advice on understanding fears and hopes, evaluating trade-offs, and making informed decisions that align with your goals. Whether you're approaching retirement or supporting aging parents, this episode will provide valuable perspectives to help navigate the complexities of end-of-life care and financial security.   Curious about working with Mark: https://www.videoask.com/fd9svtp2l www.SonaWealthAdvisors.com   Disclosure:   Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document.    This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation. This content has not been reviewed by FINRA