When building a retirement plan, you need to look beyond your individual accounts. How will each type of account save you money? How will they protect your retirement income from high tax rates?
In this episode, Iván Watanabe and Evan Wohl focus on asset allocation and what needs to be considered when creating retirement income assets. They discuss the impact of taxes on retirement planning and how different accounts provide opportunities to save and withdraw retirement funds while avoiding high tax rates.
Iván and Evan explore:
The importance of considering the taxation of different asset vehicles
When to withdraw from different types of accounts
What to consider when making an investment decision
How different investment buckets provide options when withdrawing retirement income
The Secure Act was one of the most significant systemic rewrites of retirement planning in recent history. These changes created opportunities for all ages, from young adults just out of college to individuals just starting retirement.
In this episode, Evan Wohl speaks with Joshua Caron, Vice President of Federal Affairs at Finseca, on the Secure Act, how it changed retirement planning, and the individual aspects of the Secure Act 1.0 and 2.0.
Josh discusses:
Why the shift away from pensions was so important in retirement planning
How student debt conflicted with retirement planning for those fresh out of college
The change to overfunding 529 accounts and how Secure Act 2.0 changed the tax penalties for the account
Why 401(k)s are no longer enough for retirement income and the impact of longevity on retirement planning
Joshua Caron is the Vice President of Federal Affairs for Finseca. Originally from Massachusetts, he attended Arizona State University for both his undergraduate and graduate degrees. His primary role is to advocate for policies that allow for more Americans to live financially secure lives with a focus on the advanced markets.
Prior to joining Finseca, he worked for several political campaigns, including those former President Barack Obama and former Congressman Harry Mitchell (D-AZ). He lives with his wife, daughter, and chocolate lab in St. Anthony Park, St. Paul MN.
About Evan Wohl:
Evan’s clients trust him with the responsibility to guide them through the complexities of personal finance. He provides clarity and insight on how to measure and improve your cash flow as well as whether or not you are on track to accomplish your various financial goals. The firm takes a macroeconomic approach to planning and coordinates all of your financial decisions through the use of a comprehensive economic model.
Evan’s wife, Laurie, and he have three children, Quinn, Parker and Bodie. He currently sits on the board of The Hope Gala. The Hope Gala was created to support fundraising efforts on behalf of The Four Diamonds Fund and The Penn State Dance Marathon (THON™). The Hope Gala contributes to the mission of conquering childhood cancer. All proceeds benefit pediatric cancer patients at the Penn State Children’s Hospital and their families in need of financial aid, medical assistance, and emotional support.
In this episode, the chairman and partner of Hodgson Russ LLP, Mark Klein, joins Iván Watanabe and Russ Carpentieri to discuss the true cost of moving states. Mark explains taxes and auditors when moving, and answers frequently asked moving questions while dispelling myths on how to avoid taxation.
Mark Klein is Hodgson Russ LLP’s chairman and concentrates his practice in New York State and New York City tax matters. He has more than 35 years of experience with federal, multistate, state, and local taxation — and may be best known for his public speaking on tax topics. Mark splits his time between the Firm’s New York City and Buffalo offices.
There’s nothing like the peace of mind that comes with having a strategic and comprehensive plan for your future.
This is especially true when it comes to your estate plan.
In this episode, Canarick & Canarick’s founder and estate planning attorney, Michael Canarick, sits down with Iván Watanabe to discuss the value of having an estate plan. He explains the current estate planning and tax environment and other considerations to help you plan your estate strategically and specifically.
Michael discusses:
How estate taxes work & new estate tax laws
Generational trusts and how they relate to asset protection and estate planning
How selling or gifting estates can reduce or eliminate estate-related taxes
Canarick & Canarick was founded by Michael Canarick, an estate planning attorney with a Master of Laws in Taxation from NYU and a member of the New Jersey, New York, and Pennsylvania Bars. Michael has over 15 years of experience in counseling on tax and estate planning matters and developing strategies that will help create and preserve wealth through generations. Michael’s practice consists of reviewing and drafting legal documents for clients and educating them on the various options that exist when it comes to the distribution of their assets.
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