Podcast
Retirement Planning - Money Not Math
Hosted by Drew Erickson · EN
I love to help people have more confidence in their financial future.
My mission is to provide the highest quality advice and service possible to my clients. Therefore, I limit myself to 100 active clients or less at all times that I have a fiduciary responsibility to.
If you are interested in scheduling a 15-minute call to ask questions and determine if it might make sense for us to work together, please use this link to do so at your convenience, https://form.jotform.com/240425716309151
My core Values are Family, Faith, Finances, Fitness, Friends and Fun.
39episodes
Episodes
Newest firstAll episodes
🦍 What a Gorilla Can Teach You About Retirement Planning
Feb 1600:05:28Tap to summarizeWhat can a gorilla teach you about retirement planning?In this episode of Money Not Math, Drew uses the famous Monkey Business Illusion to reveal a surprising truth:👉 Even smart, attentive people can completely miss what’s happening right in front of them.When it comes to retirement, many people focus almost entirely on:• Picking the “best” investments• Chasing higher short-term returns• Watching the market every dayThose things matter, but they’re only part of the story.In this episode, you’ll learn:🦍 The “gorillas” in retirement planning most people overlook:• Lifestyle planning• Taxes in retirement• Healthcare and long-term care• Sequence of returns risk• Cash flow and distribution strategy🛠 Three practical ways to stop missing the big picture in your financial life:1️⃣ Zoom out beyond “How much will my portfolio grow this year?”2️⃣ Build a written retirement plan that covers more than investments3️⃣ Work with someone who can help you see your blind spotsIf you’re an empty nester with $300,000 or more in investable assets, this episode is designed to help you retire with confidence, not surprises.🎧 Press play to make sure you’re not just counting passes and missing the gorilla in your retirement plan.YouTube video: https://youtu.be/Bx2zpvfyxlM 🌐 Learn more or schedule a conversation: https://5stonefinancial.com/ Disclaimer:This podcast is for educational purposes only and does not constitute legal, tax, or investment advice. You should consult a qualified professional regarding your personal financial situation before making any decisions.#MoneyNotMath #RetirementPlanning #EmptyNester #SequenceOfReturns #TaxesInRetirement #FinancialPlanning #LongTermCare #RetireWithConfidence #5StoneFinancialGroup
Transcribe →8 Essential Questions to Ask Before You Retire | Money Not Math Episode 174
Feb 1200:07:30Tap to summarizeIn Episode 174 of Money Not Math, we explore the 8 essential questions to ask before you retire. These questions go far beyond savings amounts and help create clarity around income, Social Security, healthcare, taxes, investment strategy, and lifestyle planning.This episode is designed for empty nesters and pre retirees who want to feel more confident and prepared for their next chapter.Disclosure:This content is for educational purposes only and is not individualized financial, investment, tax, or legal advice. It does not represent a recommendation to buy or sell any security or adopt any specific strategy. All investing involves risk, including possible loss of principal. Consult a qualified financial professional regarding your personal situation before making financial decisions.#MoneyNotMath #RetirementPlanning #EmptyNesters #PreRetirement #FinancialEducation #5StoneFinancialGroup
Transcribe →Milestones That Matter: Key Ages in Your Retirement Journey. Money Not Math 173
Feb 200:10:46Tap to summarizeWhen it comes to retirement, when certain rules apply can be just as important as how much you have saved.In Money Not Math 173, we walk through several important ages that can influence how Social Security, Medicare, and retirement account rules work under current law. The goal is to help you better understand these milestones so you can have more informed conversations with your financial, tax, and legal professionals. In this episode, we discuss: • Age 50: When many retirement savers become eligible for catch-up contributions to certain retirement accounts.• Age 55: Situations where penalty-free withdrawals from a 401(k) may be available after separating from an employer-sponsored plan.• Age 59½: The point at which early withdrawal penalties generally no longer apply to many retirement accounts (ordinary income taxes can still apply).• Age 62: The earliest age to claim Social Security benefits, usually with reduced monthly payments compared with later claiming ages.• Age 65: When Medicare eligibility begins and often lines up with broader retirement decisions.• Ages 66 to 67: Full Retirement Age (FRA) for Social Security for many people retiring today, depending on year of birth.• Age 70: When Social Security benefits generally stop increasing for delaying claims beyond this age.• RMD ages 73 and 75: When Required Minimum Distributions from many tax-deferred retirement accounts begin, based on year of birth under current law.We also talk about how major life events, such as a career change, becoming empty nesters, receiving an inheritance or windfall, downsizing, health changes, or welcoming grandchildren, can interact with these ages and influence your overall retirement plan.Please reach out if you have questions or you would like to sit down and discuss your retirement plan.Disclaimer: This content is for educational and informational purposes only and is not intended as individualized financial, tax, or legal advice. The ages and rules discussed are based on current law and are subject to change. Individual situations vary. Before making decisions about Social Security, Medicare, retirement account withdrawals, or other financial matters, consult with qualified financial, tax, and legal professionals who can review your specific circumstances.#MoneyNotMath #RetirementPlanning #RetirementMilestones #FinancialEducation #SocialSecurity #Medicare #RMDs #RetirementJourney #FinancialAwareness #EmptyNestRetirement #5StoneFinancialGroup #RetireConfidently #FinancialConfidence
Transcribe →What’s my retirement budget? I’m 67 with $870,000 in a 401(k), $120,000 in an IRA, and a $2,200 monthly Social Security check.
Jan 2800:18:57Tap to summarizeWelcome back to Money Not Math – Episode 172, the show where we break down complex retirement questions into clear, actionable insights—so you can retire with confidence, not confusion.In this episode, we walk through a hypothetical 67-year-old who has:• $870,000 in a 401(k)• $120,000 in an IRA• $2,200/month in Social SecurityAt first glance, it sounds like a basic math problem. But designing a retirement income strategy is about much more than dividing your savings by the number of years you hope to live.By the end of this video, you’ll see how this same person could experience monthly incomes as low as about $3,620 and as high as $7,200—based on the planning (or lack of planning) that goes into their retirement strategy.In this episode, we cover:🧮 Retirement spending strategies• Inflation-adjusted retirement income• The “retirement spending smile” and how spending can change over time📊 Asset allocation decisions• How the mix of stocks, bonds, and cash affects both income and confidence💰 Tax planning opportunities• How strategies like Roth conversions could influence lifetime income and long-term tax bills🏥 Long-term care considerations• Why a healthcare and long-term care plan is critical, even with a strong nest eggMy goal is not to give personalized advice in this video, but to help you understand how these pieces fit together so you can start asking the right questions about your own retirement budget.👇 Want to talk about your situation?If you don’t have a fiduciary financial advisor you trust, I’d be happy to have a conversation to see if we might be a good fit—or help connect you with someone who is.📩 Message me directly on this platform📞 Or call me at 218-686-3170👍 If you found this helpful:• Like this video• Subscribe to the channel for more Money Not Math episodes• Share it with a friend or family member who’s approaching retirement• Comment below with a question or topic you’d like me to cover in a future episodeDisclaimer: This video and description are for educational purposes only and are not legal, tax, or investment advice. Everyone’s situation is unique. You should always consult a qualified professional about your personal circumstances before making financial decisions.#MoneyNotMath #RetirementPlanning #RetireWithConfidence #RetirementIncome #FiduciaryAdvisor #FinancialPlanning #EmptyNestRetirement #TaxSmartRetirement
Transcribe →What Does Retirement Income Look Like for a Single Person with $500,000 in an IRA + Social Security? | Money Not Math Ep. 170
Jan 1300:25:06Tap to summarizeWhat Does Retirement Income Look Like for a Single Person with $500,000 in an IRA + Social Security? | Money Not Math Ep. 170Welcome back to Money Not Math! In Episode 170, we’re revisiting a popular topic from Episode 162, where we looked at retirement income for a hypothetical married couple with $500,000 in an IRA plus Social Security.This time, we’re adjusting the scenario for a single person, as requested by one of our viewers.Here’s what we’ll cover:✅ How $500,000 in an IRA + Social Security might work together✅ Options to maximize asset allocation✅ Social Security income strategies✅ Tax and Roth conversion considerations✅ Retirement spending approachesThis is not personalized advice, but an educational illustration to help you better understand the factors that can impact retirement income.If you have questions about your own situation, we’d love to help!📞 Contact us at 218-686-3170🌐 Visit us at www.5stonefinancialgroup.com Disclaimer:This content is for informational purposes only and should not be considered investment, tax, or legal advice. Individual circumstances vary, so please consult with a qualified professional before making decisions about your retirement plan.👉 Watch now and let’s dive in!https://youtu.be/zAcbEVUTfGY #MoneyNotMath #RetirementPlanning #FinancialEducation #RetirementIncome #SocialSecurityPlanning #IRAPlanning #RothConversion #TaxPlanning #AssetAllocation #RetirementStrategies #FinancialFreedom #RetireSmart #EmptyNestPlanning #WealthManagement #RetirementConfidence
Transcribe →What Happens to Your Retirement Income When One Spouse Passes Away Early? | Money Not Math Ep. 169
Jan 600:27:12Tap to summarizeIn this episode of Money Not Math, we revisit a popular topic from Episode 162: “What Does Retirement Income with $500,000 in an IRA + Social Security Look Like?”But this time, we’re answering a viewer’s important question:doesn't seem like there wouldn't be a benefit in filling the 12% as well as 10% - especially when considering one spouse will pass away; let's say at 78. Would you mind showing this scenario?This scenario is something many families don’t plan for, yet it can have a major impact on retirement income, taxes, and lifestyle. In this video, we’ll cover:✅ How losing a spouse affects Social Security benefits✅ The impact on required minimum distributions (RMDs) and IRA withdrawals✅ Why asset allocation matters and how it impacts your retirement spending✅ The role of tax planning in protecting income for the surviving spouse✅ Strategies for retirement income spending to maintain financial securityPlanning for these possibilities isn’t easy—but it’s essential. If you want to feel confident about your retirement plan and ensure your loved ones are protected, this episode is for you.Episode 169 YouTube video: https://youtu.be/MM8G_P-kc94 Episode 162 YouTube video: https://youtu.be/ckU8qVK5XnY?si=4eMqJE4aeiEGmoRc If you have $300,000 or more in investable assets and want a customized retirement income plan that accounts for life’s uncertainties, schedule a complimentary consultation today:👉 https://outlook.office.com/book/Gb122ad25bf0742de9ef95f26af89fd04@5stonefinancial.com/s/ytXDEtRh0E-29mrENW6_Uw2?ismsaljsauthenabled #RetirementPlanning #MoneyNotMath #SocialSecurity #IRA #TaxPlanning #FinancialAdvisor #EmptyNestRetirement #EmptyNester #RetireConfidently #AssetAllocation #SocialSecurityOptimization Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
Transcribe →✅ When Does It Make Sense to Say “Yes” to a Roth Conversion? Money Not Math – Episode 168
Dec 2300:11:58Tap to summarizeRoth conversions can be a powerful tax planning tool—but they’re not right for everyone. In this episode, we explore five situations where a Roth conversion might make sense, including:✔ A lower-than-normal tax year✔ Expecting tax rates to rise✔ Having a long-time horizon before needing funds✔ Reducing future Required Minimum Distributions (RMDs)✔ Lowering the tax burden for your heirsWe’ll also walk through a hypothetical example of a couple retiring at 65 with $1M in a Traditional IRA with Social Security income to show how these factors can play out in real life.#RetirementPlanning #RothConversion #TaxPlanning #MoneyNotMath #FinancialEducation #RetirementReady #TaxSmart #EmptyNestPlanning #WealthManagement #FinancialConfidence #RetireConfidently #5StoneFinancialGroup Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation. I am a licensed fiduciary financial advisor and not a CPA.
Transcribe →Roth Conversions: Why They Matter for Your Retirement | Money Not Math 167
Dec 1600:02:44Tap to summarizeWould you rather pay taxes now or later? For many retirees, that question can make a big difference in your financial future. In this episode of Money Not Math, we break down Roth conversions—what they are, why they matter, and key considerations before making a move.What you’ll learn:✔ What a Roth conversion means✔ Potential benefits like tax-free withdrawals and no RMDs✔ Important factors to consider before convertingAt 5 Stone Financial Group, we help empty nesters create tax-smart retirement strategies. If you’re wondering whether a Roth conversion fits your plan, schedule a conversation today: https://outlook.office.com/book/Gb122ad25bf0742de9ef95f26af89fd04@5stonefinancial.com/s/ytXDEtRh0E-29mrENW6_Uw2?ismsaljsauthenabledDisclaimer:This podcast is for educational purposes only and is not intended as personalized investment advice. All investing involves risk, including the potential loss of principal. Tax laws are subject to change, and individual circumstances vary. Before making any financial decisions, consult with a qualified tax or financial professional.
Transcribe →Does Long-Term Care Insurance Add Up? What Empty Nesters Need to Know. Money Not Math 166
Dec 800:02:48Tap to summarizeAre you an empty nester wondering if long-term care insurance is worth the cost? In this video, we break down the numbers, the pros and cons, and what it means for your retirement plan.Long-term care expenses can be one of the biggest risks to your financial future. Whether you’re considering insurance or self-funding, the right choice depends on your goals, health, and assets.If you have $300,000 or more in investable assets and want clarity on how long-term care fits into your retirement strategy, schedule a complimentary consultation today:👉 https://outlook.office.com/book/Gb122ad25bf0742de9ef95f26af89fd04@5stonefinancial.com/s/ytXDEtRh0E-29mrENW6_Uw2?ismsaljsauthenabled What You’ll Learn in This Video:✔ How much long-term care really costs✔ Pros and cons of long-term care insurance✔ Why your financial plan matters more than averagesDisclaimer: Investment advisory services offered through 5 Stone Financial Group, a registered investment advisor. This video is for educational purposes only and not individualized advice.
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Understanding Tariff Impacts on Your Investments 📈2.6.25 Live Retirement Planning Coffee Talk
Feb 6, 202500:09:06Tap to summarizeCurious about how tariffs might affect your investment portfolio? Check out this podcast. Key Takeaways: • Historical Context: Learn how past tariff implementations, like those during President Trump's term, impacted markets. • Market Reactions: Discover why markets often price in expected developments, potentially muting the impact of new tariffs. • Forward-Looking Insights: Understand how current market prices may already reflect anticipated economic changes. Stay informed and make better investment decisions by understanding the broader economic landscape. Schedule a Private Call: If you prefer a private conversation, you can schedule a call with me here: https://outlook.office365.com/owa/calendar/Gb122ad25bf0742de9ef95f26af89fd04@5stonefinancial.com/bookings/s/ytXDEtRh0E-29mrENW6_Uw2 Disclaimer: This content is not legal, tax, or investment advice. Always consult a qualified professional regarding your own situation. Since this is a live session, I may occasionally make a mistake. Article referenced: https://www.dimensional.com/us-en/insights/tariff-trepidation #Investing #MarketInsights #Tariffs #FinancialEducation #Dimensional #RetirementPlanning #MoneyNotMath #EmptyNesters #5StoneFinancialGroup #Investing #Money #FinancialEducation #Retirement #Coffee
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