Claim OwnershipWealth Matters with Debra Taylor
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© 2023 Wealth Matters with Debra Taylor
Description
Debra Taylor is both a CPA and an attorney by training and has thus been able to uniquely prioritize retirement and tax planning in her wealth management practice over the last 20 years. She is a sought after voice in the industry being quoted by national publications such as Barrons, Smart Money, The Wall Street Journal, and other various trade publications. Now she is bringing that experience to the wider public! Tune in to hear Debbie speak about all the things that you need to consider in building your financial future. Topics will include: • How to help you not to run out of money • Help you pay fewer taxes in retirement • Items that every financial plan should include • And more! The show airs on public radio on Mondays from 12-1:00 PM EST on 1500AM in the local New York City/Northern New Jersey area. Securities offered through Cetera Advisor Networks LLC, Member FINRA/SIPC. Investment advisory services offered through CWM, LLC, an SEC Registered Investment Advisor. Cetera Advisor Networks LLC is under separate ownership from any other named entity. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.
20 Episodes
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There are tools that you want to put in place in your 20s so that you are prepared for your 50s and 60s. Planning you can do ahead of time allows to have more runway to plan properly.
Fall is an ideal time to examine your financial health and update your financial plans. Here is a list of important things to review that might make a difference in your year-end review and plans for next year.
Debbie talks all things retirement. Retirement is something that we all start looking forward to mid way through life. However, many begin to feel unfulfilled shortly into their retired life. Learn what to expect and how to prepare better in today's episode.
Today, we talk about taxes and retirement accounts and the relationship between the two. How do taxes affect different retirement accounts like a 401(k) vs a Roth 401(k) and a Traditional IRA vs. a Roth IRA? Listen now to learn more!For a comprehensive review of your personal information, always consult with a tax or legal advisor. Neither Cetera Advisor Networks LLC nor any of its representatives may give tax or legal advice.
Today we have with us guest Paula Bishop. She is a CPA and Financial Aid for College Advisor. Her expertise is working with families to develop strategies on how to pay for college, and to find the best college for their student at the lowest cost to the family. She has been a practicing CPA for the past 35 years which allows her to combine her tax knowledge with the complexities of the financial aid system.
With guest Danielle Roberts. Medicare expert, Danielle Kunkle Roberts, is a founding partner at Boomer Benefits. She is a well-known professional in the Medicare insurance industry, having personally helped thousands of beneficiaries with their plan decisions. She has specialized in Medicare-related insurance products for over 14 years and is a member of the prestigious Forbes Finance Council.
Today we get into all things IRA:What is an IRA? What are the types?How does it affect people in different tax brackets?What are RMDs?Are there additional taxes I need to worry about?What is so good about the Stretch IRA?And much more!
On this episode we talk all things relationships: marriage, divorce, custody etc. Peter Cedeno deals with a lot of divorcing couples where the main concerns are the assets and the children. All of these issues are highly sensitive to those involved and the approach to these situations must be handled in a certain way.
Not sure what to do at late stage retirement? Debbie goes through the implications of your investments pre and post-death. There are important tax laws to consider when planning for the future and next generation.Some important topics include:- Joint Tenant- Widows Penalty- Income Taxes
For most people the tax change did not have much effect. Now with a limited standard deduction, clumping together your expenses for each year will help you reach your standard deduction from charitable contributions to medical expenses.
Many people start planning for retirement too late. Planning for retirement no matter how young is important an nothing but beneficial. You need a plan that takes into account future taxes and distributions. Your distribution amounts will vary depending on the type of retirement account you have.Retirement Plans:- Traditional IRA and Roth IRA- 401(K) and Roth 401(K)- Combination?
Estate planning is much more than you think. Making sure your documents are up to date is crucial. Things to consider:Beneficiary DesignationThe WillWhat is part of an estate plan?Taxes?
In this episode, Debbie talks about 5 Pieces of the SECURE Act you should be aware of and how they could affect your retirement plan.RMD age will be raisedStudent loan repayment reliefNew savings opportunities for new parentsAbolition of "stretch" IRAsPotential Expansion of AnnuitiesConverting from a traditional IRA to a Roth IRA is a taxable event. A Roth IRA offers tax-free withdrawals on taxable contributions. To qualify for the tax-free and penalty-free withdrawal of earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59½ or due to death, disability, or a first time home purchase (up to a $ 10,000-lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes.
In this episode of "Wealth Matters', Debbie discusses tax traps that have caught many people off guard over the years, leading to needless taxation of people’s income and benefits. She also talks about looking into the future and tips for tax planning through each retirement stage, so people can take proactive steps to maximize the efficiency of their income. This includes:Utilizing the Roth options in your 401(k) planExploring Roth conversionsEngaging in retirement distribution optimization, and more!
In this episode, we discuss how to plan in an efficient way when it comes to retirement accounts. This includes:Understanding what an IRA isThe various taxation that pertains to different retirement accountsPotential things to be aware of when it comes to distributions in retirement Other retirement tools like Roth IRAs and 401(k)s (among others)Lastly, we will give some general tips in order to maximize the efficiency of retirement account monies.
People are led to believe that Estate Planning is only for those with loads of wealth. However, the reality is that every family should have a comprehensive Estate Plan of their own. Hear how to preserve your legacy, and avoid estate blunders with Debbie Taylor in today's episode of Wealth Matters.
Making a million isn’t easy. In fact, the argument can be made that the accumulation phase (working years) are the “easy” years in comparison to the distribution phase (retirement). Luckily for our listeners, Debbie makes that argument in this episode of Wealth Matters, as she lays out the 4 ways not to lose your first million. Take a listen to find out what they are! For more information about Debra Taylor, CPA/PFS, JD, CDFA, Wealth Manager and the financial planning services her firm provides, visit our website at: www.TaylorFinancialGroup.com
A goal we have as young, oblivious kids is to become a millionaire, and only a little over 10 million people in the country are. Luckily, accumulating $1 million dollars over the course of your lifetime may not be as hard as you think.In this episode, Debbie gives some valuable advice on “Money, Millennials and What They Should Do with It.” Listen here!
We, as humans, tend to think that once you get to retirement it’s over and done with. But getting to retirement and building your nest egg is the easy part. The hard part is what you do in retirement to preserve your wealth.In this episode, Debbie talks about the 8 Blunders to Avoid in Retirement.Failing to incorporate “extra” expenses into your financial planUnderestimating the cost of healthcare Inadequately accounting for taxes Failing to adjust your financial plan when retiring earlier than projected Funding unbudgeted expenses for loved ones Underestimating your longevity Relying solely on social security to cover your living expenses Forgetting about Required Minimum Distributions (RMD’s)
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