Podcast
Retire Today
Hosted by Jeremy Keil · EN
In the Retire Today podcast, Jeremy Keil, CFP®, CFA® shows you how to turn your retirement savings into retirement income. Listen in as Jeremy and his guests guide you towards making smarter retirement, investment, and tax planning decisions. Get free resources and learn how to have Jeremy and his team develop your own Retire Today income plan at 5stepRetirementPlan.com. For important disclosures, see www.keilfp.com/disclosures Keil Financial Partners may utilize third-party websites, including social media websites, blogs, and other interactive content. We consider all interactions with clients, prospective clients, and the general public on these sites to be advertisements under the securities regulations. As such, we generally retain copies of information that we or third parties may contribute to such sites. This information is subject to review and inspection by
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Growing Your Cash as an Asset in Retirement with Gary Zimmerman
Jan 600:34:41Tap to summarizeGary Zimmerman of Max® explains how to utilize your cash asset in retirement. Cash is one of the most overlooked assets in retirement. Here’s how retirees can earn thousands more in interest while keeping their money safe and FDIC-insured. Many retirees spend years carefully managing their investments — stocks, bonds, and retirement accounts get plenty of attention. But there’s one asset class that often gets ignored: cash. In this episode of Retire Today, I’m joined by Gary Zimmerman, founder and CEO of Max® to talk about why so many Americans are earning next to nothing on their bank money — and how that quiet mistake can cost retirees tens of thousands of dollars over time. As Gary explains early in the conversation, “People think that the bigger the bank, the safer it is. And that’s patently not true.” In fact, many of the banks that failed during past financial crises were among the largest institutions. Why Cash Matters More in Retirement Cash plays a unique role in retirement. It provides liquidity, stability, and peace of mind — especially when markets are volatile. But that doesn’t mean cash has to sit idle. Gary shared that after years as an advisor, he started getting a flood of calls from clients during the COVID period. Their CDs were maturing, and rates were dropping instead of rising. “They were missing out on thousands of dollars in interest,” he said. At the same time, trillions of dollars across the U.S. were sitting in bank accounts earning close to zero — while other savers were earning closer to 4% in the same type of FDIC-insured accounts. That gap is not about risk. It’s about awareness and access. FDIC Insurance: Safety Without Sacrificing Yield One of the most important parts of the conversation focused on FDIC insurance. Many people believe that as long as their money is at a big-name bank, it’s automatically safe. But FDIC insurance has limits — typically $250,000 per depositor, per bank, per ownership category. As I shared in the episode, I regularly see “everyday millionaires” with far more than $250,000 sitting in bank-type accounts — without full insurance coverage. Gary explained how spreading cash across multiple institutions increases FDIC protection and improves interest rates at the same time. “The more diversified you are, the more guarantees you get from the FDIC,” he said. Why Banks Pay So Little (And Why They Can) A question many retirees ask is simple:If higher rates exist, why don’t banks automatically pay them? Gary’s answer was refreshingly blunt. Banks don’t raise rates unless they need your money. When a bank pays 0.1% or 0.2%, it’s often a signal: “They’re telling you they don’t want your money.” Online banks, smaller institutions, and rate marketplaces compete aggressively for deposits — and that competition benefits savers who are willing to look beyond their local branch. As Gary put it, “There’s an actual market for your money. Just like selling a house, you have to put your money on the market to get the best price.” DIY vs. Using a Service Could retirees do all of this on their own? Yes.But should they? Gary compared the process to constantly switching phone plans or insurance providers. It works — but it requires attention, time, and discipline. Rates change, banks create teaser accounts, and some institutions quietly lower yields after a few months. Max® was designed to automate that process. As Gary described it, the goal is to “spend five or ten minutes thinking about cash, then never think about it again.” For many clients, that convenience translates into meaningful results. Gary shared that a retiree with $250,000 in cash could earn roughly $10,000 more per year, or $100,000 over a decade, simply by managing cash more effectively. The Behavioral Finance Problem Nobody Talks About One of my favorite parts of the conversation focused on behavioral finance. People say they like their bank because it feels familiar. But when asked how they actually interact with it, the answer is usually: “I use the app.” At that point, loyalty becomes expensive. As Gary summed it up, “The bank owes you nothing. You owe the bank nothing.” Your savings should work as hard as you did to earn it. The Bottom Line Cash isn’t boring — it’s powerful when used correctly.For retirees, optimizing cash can mean more flexibility, less risk, and thousands of dollars in additional income over time — without chasing returns or increasing exposure. Don’t forget to leave a rating for the “Retire Today” podcast if you’ve been enjoying these episodes! Subscribe to Retire Today to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retire-today/id1488769337  Spotify Podcasts: https://bit.ly/RetireTodaySpotify About the Author: Jeremy Keil, CFP®, CFA® is a financial advisor in Milwaukee, WI, author of the bestseller Retire Today: Create Your Retirement Master Plan in 5 Simple Steps and host of both the Retire Today Podcast and Mr. Retirement YouTube channel Additional Links: Buy Jeremy’s book – Retire Today: Create Your Retirement Master Plan in 5 Simple Steps Gary Zimmerman on LinkedIn Max®: Your Best Interest Create Your Retirement Master Plan in 5 Simple Steps Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Mr. Retirement Book an Intro Call with Jeremy’s Team Media Disclosures: Disclosures This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy. The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past performance is no guarantee of future results. Legal & Tax Disclosure Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations. Advisor Disclosures Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC. Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A. The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only. Additional Important Disclosures
Transcribe →How to Retire in 2026: 5 Steps to Reach the Finish Line
Dec 3100:17:42Tap to summarizeJeremy Keil explains the 5 steps you can take if you are planning to retire in 2026 or 2027. If you’ve been planning to retire in 2026 or 2027, it might feel like you still have plenty of time. But in reality, retirement has a way of showing up earlier than expected — and when it does, the people who feel the most confident are the ones who prepared well in advance. In this episode of Retire Today, I walk through five things you should do before you quit working if retirement is anywhere on your near-term horizon. These steps aren’t about picking a perfect retirement date. They’re about being ready — even if your plans change. Why You Should Prepare Earlier Than You Think Two important statistics shape this entire conversation. First, the stock market is historically up about 70% of the time in any given year. That also means it’s down about 30% of the time. If you’re retiring soon, there’s a real chance that your account balances could be lower at retirement than they are today. Second, most Americans retire about three years earlier than they expect. Health changes, job shifts, burnout, or family needs often move retirement forward — whether planned or not. That’s why I encourage people to prepare for retirement three years ahead of time, even if they believe they’ll work longer. Planning early gives you flexibility. Waiting too long removes it. 1. Create a Written Retirement Plan The first and most important step is to put your plan in writing. Many people have a retirement date in mind, but when asked how everything will actually work, they don’t have clear answers. A written plan forces clarity. This is where the 5-Step Retirement Plan comes in: What you’ll SPEND What you’ll MAKE What you’ll KEEP after taxes How you’ll INVEST What you’ll LEAVE behind Putting this into a written retirement master plan turns scattered ideas into a coordinated strategy — and reveals gaps while you still have time to fix them. 2. Build a Lifetime Income Plan Retirement isn’t about having a big account balance — it’s about knowing where your income will come from every month. Before you retire, you should know: How much income you need Where that income will come from Which accounts you’ll use first How taxes affect each withdrawal At a minimum, you should map out the first 12 months of retirement income in detail. That includes Social Security, pensions, savings, brokerage accounts, and retirement accounts — and the tax rules that apply to each one. Surprises here are costly. Planning removes them. 3. Make Your Retirement Plan Tax-Smart Many people assume their taxes will automatically go down in retirement. Sometimes that’s true — but not always. Pensions, Social Security, required minimum distributions, and investment income can push retirees into higher tax brackets than expected. The key is understanding when you’ll have flexibility and using it intentionally. Retirement often creates opportunities to: Shift income between tax years Take advantage of lower tax brackets Manage Roth conversions strategically Plan around healthcare subsidies Taxes don’t disappear in retirement — they change. Planning ahead helps you adapt. 4. Plan Your Retirement Healthcare Healthcare is one of the biggest unknowns in retirement. Before you retire, you should know: What coverage you’ll use immediately What it will cost How that coverage changes over time When Medicare becomes part of the picture Options may include employer coverage through a spouse, COBRA, retiree health plans, ACA plans, or Medicare — and each comes with different costs and rules. Healthcare planning isn’t just about insurance. It’s about understanding how medical costs interact with your tax plan and your income strategy. 5. Create a Retirement Investment Plan Retirement changes your investment timeline. You’re no longer investing only for growth — you’re investing for income and stability, too. That means separating your money into: Short-term funds for near-term spending Long-term investments for growth over decades Money you’ll need soon shouldn’t be exposed to short-term market swings. At the same time, money you won’t need for many years still needs growth to keep up with inflation. The right investment plan balances both — and helps prevent panic decisions when markets get volatile. The Bottom Line If you’re planning to retire in 2026 or 2027, now is the time to prepare. Not because something bad will happen — but because preparation gives you options. Retirement doesn’t have to be so stressful. With a written plan, a clear income strategy, smart tax planning, healthcare clarity, and a thoughtful investment approach, you can step into retirement with confidence — whenever it arrives. Don’t forget to leave a rating for the “Retire Today” podcast if you’ve been enjoying these episodes! Subscribe to Retire Today to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retire-today/id1488769337  Spotify Podcasts: https://bit.ly/RetireTodaySpotify About the Author: Jeremy Keil, CFP®, CFA® is a financial advisor in Milwaukee, WI, author of the bestseller Retire Today: Create Your Retirement Master Plan in 5 Simple Steps and host of both the Retire Today Podcast and Mr. Retirement YouTube channel Additional Links: Buy Jeremy’s book – Retire Today: Create Your Retirement Master Plan in 5 Simple Steps Create your retirement master plan in 5 simple steps: www.5StepRetirementPlan.com  Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Mr. Retirement Book an Intro Call with Jeremy’s Team Media Disclosures: Disclosures This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy. The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past performance is no guarantee of future results. Legal & Tax Disclosure Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations. Advisor Disclosures Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC. Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at htt...
Transcribe →Trump’s One Big Beautiful Bill: What It Really Means for Your Retirement
Jul 30, 202500:25:40Tap to summarizeJeremy Keil explores the incoming changes resulting from the “One, Big, Beautiful Bill” and how they might impact your retirement. Big tax changes are on the horizon—and if you’re nearing or in retirement, you need to pay attention. On this episode of the Retirement Revealed podcast, I dive into how President Trump’s “One Big, Beautiful Bill” (OBBB) might impact your retirement plan. This legislation brings a mix of permanent, temporary, and eyebrow-raising changes to the tax code, many of which could directly affect your income, deductions, Medicare costs, and charitable giving strategies. Let’s break down what retirees need to know. 1. The Myth of “Permanent” Tax Brackets One of the most buzzworthy changes is the permanence of the current tax brackets. For the past few years, retirees rushed to do Roth conversions before tax rates were scheduled to rise at the end of 2025. But now, those lower rates are considered permanent. But let’s be honest—permanent in Washington, D.C., doesn’t always mean forever. As Stephen Jarvis of the Retirement Tax Podcast often says, “The tax code is written in pencil, not pen.” So while this may slow the urgency of Roth conversions, the potential for future changes still makes forward-thinking tax planning essential. 2. The New “Senior Bonus” Deduction Perhaps the biggest headline for retirees is the new “Senior Bonus Deduction.” Starting at age 65, individuals can now claim an additional $6,000 deduction (or $12,000 for couples), regardless of whether they take the standard or itemized deduction. It’s a valuable benefit—but there’s a catch. This deduction begins to phase out once your modified adjusted gross income hits $75,000 (single) or $150,000 (joint), which could create a hidden marginal tax increase for those over the threshold. When you add this to the complexity of how Social Security and Medicare costs are calculated, this seemingly simple deduction could actually lead to an unexpected tax bite. I’ll be breaking down how this plays out visually in upcoming videos on my Mr. Retirement YouTube channel. 3. Social Security Taxation: No Change (But Still a Big Deal) Despite some speculation, the OBBB does not change how Social Security is taxed. Up to 85% of your Social Security income is still taxable depending on your other income levels. But don’t ignore this just because it’s staying the same. Small changes in income—like selling stock or taking an IRA distribution—can trigger bigger tax bills than you’d expect. That $1 you pull from your traditional IRA might actually lead to $1.85 in taxable income. That’s how you go from the 12% bracket to effectively paying 22%. 4. Bunching Deductions May Be More Important Than Ever The standard deduction is increasing to $15,750 (single) and $31,500 (joint). This makes it even harder to get a benefit from itemizing deductions like charitable gifts and property taxes. But don’t give up on deductions yet! “Bunching” strategies—grouping two years’ worth of donations or property tax payments into one tax year—can still be incredibly powerful. And with changes to the SALT (State and Local Tax) deduction cap temporarily increasing from $10,000 to $40,000 between 2025 and 2029, this could create new windows for smart planning. 5. Encouraging Charitable Giving for Everyone One positive change is the return of the above-the-line charitable deduction for non-itemizers. Starting in 2026, you can now deduct up to $1,000 (single) or $2,000 (joint) for charitable giving even if you don’t itemize—permanently. It’s not a game-changer, but it might nudge some people to give more, and that’s a win in my book. And for high-income earners in the 37% bracket, charitable deductions are now limited to a 35% benefit—something to consider in your giving strategy. 6. Big Income? Watch for Hidden Tax Traps If your income is around $500,000–$600,000, pay extra attention. Between the loss of SALT deductions and the standard tax rate, your marginal tax cost could approach 45.5%. Whether you’re a retiree taking a large IRA withdrawal, selling stock, or a business owner receiving a bonus, planning when and how you receive that income could save you tens of thousands in taxes. 7. Estate Tax and 529 Plan Updates The estate tax exemption is increasing to $15 million per person (indexed for inflation), so most retirees still don’t need to worry about the “death tax.” But one area where retirees might get involved is with expanded 529 plan flexibility. More education expenses are eligible, and new “Trump Accounts” are on the horizon. These are retirement-style savings accounts for newborns, funded up to $5,000 per child—no earned income required. If you’re a grandparent who wants to kickstart a child’s retirement, this could be a valuable tool. Final Thoughts This tax bill is massive, and we’ve only scratched the surface. But here’s the takeaway: retirement planning isn’t just about how much you have—it’s about how you use it. Understanding how your income, deductions, and gifting strategies interact with tax law can mean the difference between running out of money or having enough to leave a legacy. If you want to see how these new changes might affect your retirement plan, reach out to us at Keil Financial Partners or shoot us an email at podcast@keilfp.com. And be sure to check out our Mr. Retirement YouTube channel for visuals that help you make smarter money decisions. Because if you know more about your money, you’ll feel better about your money—and make better money decisions. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: “Breaking Down The “One Big Beautiful Bill Act”: Impact Of New Laws On Tax Planning” – Kitces.com Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Media Disclosures: Disclosures This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy. The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past performance is no guarantee of future results. Legal & Tax Disclosure Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations. Advisor Disclosures Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC. Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A. The content of this media should not be r...
Transcribe →Are These the 11 Best Low-Risk Investments for 2025?
Jul 23, 202500:25:34Tap to summarizeJeremy Keil breaks down the Investopedia.com list of the 11 best low-risk investments for 2025 When people talk about low-risk investments, it’s usually because they’re trying to avoid surprises. And let’s face it—if you’re retired or planning to retire soon, surprises are not your friend. That’s why I took a deep dive into a recent Investopedia article listing the “11 Best Low-Risk Investments: Safest Options for 2025” and unpacked what these options really mean for investors nearing or in retirement. The number one question every investor needs to ask isn’t “what’s the highest return I can get?” It’s “When do I need this money?” Time horizon is everything when you’re choosing between short-term and long-term investments. Let’s walk through what Investopedia got right, what they got wrong, and how you can potentially make better choices for your retirement future. 1. Preferred Stock: Low-Risk? Not So Fast Investopedia put preferred stock at the top of their list. I’m not convinced that’s where it belongs. Preferred stock is like a hybrid between stocks and bonds. It pays a fixed dividend, which sounds comforting—until the market drops. In 2022, preferred stocks were down 18.3%, which was actually worse than the S&P 500’s 18.1% decline. If you’re looking for stability, that’s a tough pill to swallow. The lesson here? Fixed dividends don’t guarantee safety. Preferred stock might play a role in your portfolio, but calling it “low risk” might be a stretch. 2. High-Yield Savings Accounts: A True Safe Bet Now this is more like it. High-yield savings accounts are FDIC-insured and can offer 4%+ interest as of mid-2025. Compare that to the national average of 0.42%, and you see why parking your short-term cash here makes a lot of sense. If your money is just sitting in a regular savings account, it’s probably time to move it. Online banks often offer better rates, and they carry essentially the same protections as your brick-and-mortar bank. 3. Money Market Funds This one’s tricky. A money market account is a savings product offered by a bank and FDIC-insured. A money market fund is an investment through your brokerage that is not FDIC-insured—but typically offers higher yields and flexibility inside an IRA or brokerage account. Both can be solid options depending on your need for access and insurance coverage. 4. CDs Certificates of Deposit (CDs) are familiar to most investors. But don’t just chase the highest interest rate. Match your CD’s maturity with when you actually need the money. If you need it in two years, you may not want to buy a one-year CD with the intention to roll it over—you’re gambling on future interest rates. 5. Treasury Bills: U.S.-Backed and Flexible Treasuries are popular for a reason—they’re backed by the U.S. government and highly liquid. Through a brokerage account, you can buy Treasuries that mature when you need your money. Even better, if you have to sell early, they tend to hold value better than CDs, which may carry stiffer early withdrawal penalties. 6. TIPS: Great Inflation Protection, Not Immune to Volatility Treasury Inflation-Protected Securities (TIPS) sound great on paper, and they do provide a hedge against inflation. But that doesn’t mean they’re immune to losses. In 2022, TIPS dropped 12%. If you’re buying them for short-term needs, you could get burned. 7 & 8. Triple-A Bonds & Bond Funds There’s a myth out there that individual bonds are safer than bond funds. In reality, bond funds are just bundles of individual bonds. The key factor is duration—how long until the average bond in the fund matures. The longer the duration, the higher the risk when interest rates move. 9. Municipal Bonds: Tax-Friendly but Not Risk-Free Municipal bonds are attractive for their tax advantages—especially for those in higher tax brackets. But keep in mind, they’re not backed by the federal government. If the issuing municipality runs into trouble, so could your investment. 10 & 11. Annuities and Cash Value Life Insurance These two are often misunderstood. Multi-Year Guaranteed Annuities (MYGAs) offer CD-like stability but are backed by insurance companies rather than banks. Cash value life insurance can provide tax-deferred growth and tax-free death benefits, but you’re paying for those features. As with any insurance product, read the fine print—especially the rules for accessing your money. Final Thoughts: Think Strategy, Not Headlines I appreciate Investopedia for sparking the conversation. Laying out these options side-by-side allows for a simpler comparison, but if you’re a longtime “Retirement Revealed” listener, you likely know what’s coming next. Trying to pick just one of these types of investments exclusively opens the door to the specific downside related to your choice–either the risk of loss or missing out on the missed growth opportunity that would have been available elsewhere. The takeaway isn’t to just pick an item off their list. It’s to understand how each of these fits into your retirement income plan. The three things you always need to ask: When do I need this money? What are the risks—up and down? How liquid is the investment? Watch the full video to see me break down each of these 11 investments—and help you figure out which ones actually fit into a smart retirement strategy. And if you want help turning your savings into a sustainable income stream, let’s talk. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: “11 Best Low-Risk Investments: Safest Options for 2025” – Investopedia.com Investing in 2025: Simple Strategies with Joseph Hogue of Let’s Talk Money! – Retirement Revealed Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team Disclosures: This podcast is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any listener. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy. The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political, or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past performance is no guarantee of future results. Legal & Tax Disclosure: Listeners should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations. Advisor Disclosure: Alongside LLC, doing bu...
Transcribe →5 Social Security Traps That Could Cost You
Jul 16, 202500:14:12Tap to summarizeExploring Heather Schreiber’s 5 costly Social Security traps and exploring options of how to handle them. I’ve seen it time and again throughout my career: the intricacies of navigating Social Security can trip up just about anyone. So when I saw the headline “5 Sneaky Social Security Traps” in Heather Schreiber’s newsletter, I knew right away this was going to be something that deserved a closer look on the podcast. Let’s dive into these 5 Social Security traps–and these aren’t just random quirks—that can lead to unexpected gaps in income, tax surprises, or permanent reductions in your benefits. 1. The Entire Month Rule You might think that turning 62 means you’re automatically eligible for Social Security that month. Not quite. Social Security has a quirky rule: you have to be 62 for the entire month to receive benefits for that month. If your birthday is on June 15, you don’t qualify for June’s benefit. Instead, your eligibility starts in July, and your first payment doesn’t arrive until August. What’s even weirder is that the SSA counts your birthday as the day before you were born. So if you’re born on June 2, you’re considered 62 starting June 1 and therefore eligible for June benefits (which are paid in July). If you’re planning on your Social Security check arriving the month you turn 62, you could be left waiting an extra month or two—potentially throwing off your cash flow. 2. Rest in Peace, Now Return to Sender Just like you must be alive the entire month to earn that month’s benefit, if someone passes away mid-month, they don’t qualify for that month’s Social Security payment—even if it’s already been deposited. This can be a shock to surviving spouses or family members when the SSA takes that money back. If a loved one passes away on June 14, and the June payment was already deposited in early July, that money must be returned. It wasn’t “earned” under SSA rules. So whether you’re filing for your own benefit or helping a family member, remember: Social Security is earned month-by-month—and only if you’re alive for the full month. 3. Lump Sum FOMO: When Free Money Isn’t Always Free When you file for Social Security after your full retirement age, you have the option to take up to six months’ worth of benefits retroactively. That sounds great—who doesn’t like a lump sum? But here’s the catch: taking that lump sum means your official filing date is backdated. So if you file at age 68.5 and take six months retroactive payments, SSA treats you as if you filed at 68—reducing your benefit by 4%. That “free” $18,000–$20,000 could cost you thousands more over the course of your retirement. Sometimes it’s worth it, but many people take the lump sum without realizing the long-term cost. 4. Under-Withholding Today May Lead to Regret Tomorrow Here’s a situation I see far too often: retirees who start taking Social Security, forget to set up federal tax withholding, and then get a surprise bill come tax season. Unlike pensions or employer paychecks, Social Security doesn’t automatically withhold taxes unless you fill out a separate form (Form W-4V). If you don’t do this and your Social Security income is taxable, you could owe hundreds—or thousands—at tax time. Take the time to set up appropriate withholding levels. SSA allows you to choose from 7%, 10%, 12%, or 22%. 5. Medicare IRMAA and the Two-Year Lookback When you hit age 65 and enroll in Medicare, your premiums for Part B (and possibly Part D) can go up significantly if your income from two years ago was high. This IRMAA (Income-Related Monthly Adjustment Amount) surcharge can sneak up on you—especially if you had a one-time event like a Roth conversion, large capital gain, or business sale. If you had a significant drop in income due to retirement, job loss, or other life event, you can appeal your IRMAA using a life-changing event form (SSA-44). I’ve helped dozens of clients successfully reduce their IRMAA—and save hundreds each month on premiums. Plan Smart, Prepare for Surprises Social Security can be a crucial part of your retirement income. It’s not just about “when” you file—it’s about “how” you plan around it. Whether it’s making sure you’re eligible for your first check, avoiding tax pitfalls, or preparing for Medicare surprises, proactive planning may give you more options to address situations as they arise. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: Heather Schreiber, HLS Retirement Consulting Extra Medicare Cost IRMAA Appeal form SSA-44 Social Security Withholding form W-4V Supercharge your Social Security Benefit with These 5 Tips – Mr. Retirement YouTube Channel How Social Security Affects Your Retirement Taxes – Mr. Retirement YouTube Channel When is the Right Time to File for Social Security? – Mr. Retirement YouTube Channel How to Use the Social Security Quick Calculator (and Why It Matters If You Retire Early!) – Mr. Retirement YouTube Channel Social Security Earnings Limit 2025 – Mr. Retirement YouTube Channel Average vs. Maximum Social Security – Where Do You Stand? – Mr. Retirement YouTube Channel Social Security and Work: How Much Can You Make in 2025? – Mr. Retirement YouTube Channel WHEN Will You Get Your Social Security Benefits Each Month? – Mr. Retirement YouTube Channel Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team === Disclosures Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies. All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest. This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy. The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results. Legal & Tax Disclosure Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations. Advisor Disclosures Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC. Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at <a href="https://adviserinfo.sec.gov/firm/summary/333587"...
Transcribe →The Hidden 401(k) Costs You’ve Never Heard Of – And What To Do About Them
Jul 9, 202500:33:32Tap to summarizeForensic consultant Paul Sippil explains little-known costs for business owners and plan participants and what you can do about them. When it comes to retirement planning, one of the most overlooked areas is the cost hiding within your 401(k) plan. I sat down with Paul Sippil, a forensic 401(k) consultant, in this week’s episode of the Retirement Revealed podcast. For the last 20 years, Paul has been helping employers and plan participants understand the full picture of what a 401(k) really costs–and most importantly, what you can do about it. What we revealed may surprise you: many of the fees you could be paying are seemingly invisible, unspoken, and quietly leaving your retirement savings. Your 401(k) Isn’t “Free” One of the most common phrases Paul hears when talking with business owners and plan participants is: “I’m not paying anything.” And technically, they’re not—at least not directly. That’s because 401(k) fees often don’t show up on an invoice. Instead, they’re extracted from participant accounts through asset-based fees, commissions, and revenue sharing agreements that most people never even notice. Here’s the reality: if you’re in a 401(k), especially with a small to mid-sized employer, you could be overpaying. And no one may be telling you. The Bigger the Balance, the Bigger the Fee Many 401(k) service providers charge asset-based fees, meaning the more money you have in the plan, the more you pay—even if the services don’t change. That fee structure hits high-balance employees (often business owners or long-time participants) the hardest. For example, if your plan has $3 million in assets and your advisor is receiving 0.75% annually, that’s $22,500 per year in compensation—whether or not they’re actively helping you. Would you pay that if you received an invoice in the mail? However, when the fee is simply deducted from your account through share class expense ratios or revenue sharing, many people never realize it. Small Plans, Big Problems If you work at or own a small business with under 100 employees, your per-participant fees are likely much higher than those in larger plans. According to the U.S. Department of Labor, large plans (those with over $100 million) can be up to 50% cheaper in relative costs. Smaller plans are often stuck with higher costs and less transparency. How to Spot the Hidden Fees Finding these costs isn’t easy, but there are tools: Form 5500: This publicly available tax form (found at www.efast.dol.gov) details plan costs and fund options for plans with over 100 participants. Review Share Classes: Funds come in multiple share classes. Some, like “R2,” may carry hefty embedded commissions. Ask your provider if lower-cost versions like “R6” are available. Watch for “Revenue Sharing”: This outdated and opaque compensation method allows brokers and recordkeepers to collect fees without ever issuing a bill. Why Transparency Matters Paul made an interesting point: if employers were required to write a check for 401(k) services as opposed to having the fees quietly and automatically withdrawn, he believes the plan-holders and business owners would actually negotiate those fees, thus resulting in lowered costs. But the industry thrives on invisibility—making it hard for both employers and employees to question or benchmark what they’re paying. That’s why we suggest a simple test: If your financial advisor can’t clearly explain what they’re being paid and what you’re getting in return, it’s time to ask better questions and evaluate your options. Self-Directed Brokerage Accounts (SDBA) If your current 401(k) doesn’t offer the investment options you want, ask your employer about adding a Self-Directed Brokerage Account. This feature allows you to invest in a wider range of funds—including ETFs and commodities—that may not be available in your default menu. Not every provider offers this, but it’s worth requesting. Other Benefits of 401(k)s You Might Overlook Even with all the fee talk, don’t forget the unique benefits 401(k)s offer: Net Unrealized Appreciation (NUA): If you hold employer stock in your 401(k), you may qualify for favorable capital gains treatment when withdrawing those shares. Stable Value Funds: These often offer competitive returns with low risk—something you can’t get in IRAs. Penalty-Free Withdrawals at 55: Leave your job at age 55 or later, and you may be able to access your 401(k) without the 10% early withdrawal penalty—something not available with IRAs. Benchmarking for Better Plans Paul recommends looking at providers known for offering low, flat per-participant fees and open architecture platforms—meaning no forced proprietary funds or hidden kickbacks. You don’t have to use them, but they help you gauge what’s reasonable. Final Thoughts Whether you’re a small business owner, plan sponsor, or 401(k) participant, you deserve to know what you’re paying and what you’re getting in return. The more transparent your plan—and your advisor—the better off you’ll be in retirement. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: Paul Sippil’s Website: paulsippil.com LinkedIn Profile: Paul Sippil Department of Labor’s Guide on 401(k) Fees: Download PDF Share Class Pricing Details – American Funds “A Look at 401(k) Plan Fees” – U.S. Department of Labor Form 5500 – U.S. Department of Labor Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team === Disclosures Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies. All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest. This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy. The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results. Legal & Tax Disclosure Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations. Advisor Disclosures Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not impl...
Transcribe →How Can You Protect Your Retirement from Market Volatility Right Now?
Jul 2, 202500:18:45Tap to summarizeJeremy Keil explores Barron’s 5 strategies to respond to market volatility with your retirement portfolio. Are you feeling nervous about what today’s market volatility could mean for your retirement? You’re not alone. A recent Barron’s article titled “Market Anxiety Is Running High. How to Secure Your Retirement Portfolio” caught my attention—not just for the headline, but because it echoes what I hear from so many of you. Retirement can already feel uncertain, and when the stock market adds another layer of unpredictability, it’s natural to start asking: “What should I be doing with my investments?” Let’s explore five strategies—based on that Barron’s article and my own experience as a retirement-focused financial planner—that you can use to help protect your retirement income from the ups and downs of the market. 1. Be Realistic About Market Returns The last decade has seen significant growth for the stock market. From 2009 to 2024, returns were some of the strongest in history. But expecting this trend to continue indefinitely could lead to disappointment. In fact, projections from Morningstar suggest that U.S. equities could return just 3.4% to 6.7% annually over the next decade. Compare that to the roughly 20% growth we saw in 2023 and 2024, and it’s a sobering reality check. Being realistic doesn’t mean avoiding stocks altogether—it means adjusting your expectations and preparing for a range of outcomes. 2. Get Your Asset Mix Right (Based on When You Need the Money) While it may be tempting to invest based on how the market is performing at the moment, Barron’s suggests that your personal needs with your investment should be high on the list of drivers in your investment strategy. Your short-term money (needed within 1–3 years) could be in short-term, stable investments. Long-term money (needed 10+ years out) could go toward growth-oriented investments like stocks. Too often, I see people keeping everything in the market when they’re just a year away from retirement, hoping for “one more good year.” And sometimes it backfires—just like it did in early 2020 when COVID hit, and the market took a steep dive. Plan ahead. By adjusting your retirement investments 3 three years before your retirement date, you could have more of a buffer, just in case you retire earlier than expected. 3. Diversify and Rebalance It’s tempting to stick only with what’s worked recently—especially U.S. stocks, which have produced strong returns since 2009. But diversification means having exposure to different areas of the market, including international stocks. And while international stocks have lagged in recent years, 2025 has shown a surprising shift: as of early June, international indexes are up nearly 19%—ahead of the S&P 500’s 2% gain. You never know when one part of your portfolio will outperform. That’s why it’s important not just to diversify, but also to rebalance—systematically adjusting your investment strategy to maintain your target allocation. 4. Maintain a “Goldilocks” Level of Cash Cash can earn some decent interest—around 4% as of 2025. That doesn’t necessarily mean you should pile all your money into savings, but it does mean you have the option to keep a portion of your retirement funds in cash or high-quality bonds for short-term needs. How much cash is enough? Many financial advisors recommend keeping 1 to 5 years’ worth of withdrawals in cash or short-term investments. The right number for you depends on your retirement timeline, expenses, and risk tolerance. 5. Bolster Other Sources of Income One of the most underappreciated strategies for navigating market volatility is increasing your guaranteed income. That could include: Delaying Social Security to maximize your benefit Maximizing your pension payout, if available Exploring annuities to create additional income streams I know the word “annuity” often brings up mixed feelings. But the reality is, with stock prices high and bond yields strong, there could be an opportunity to convert some of your portfolio into income—if that fits your retirement plan. And remember: it’s not about finding the one perfect solution. It’s about combining different tools—stocks, bonds, cash, annuities—into a balanced, well-designed retirement portfolio. Market anxiety is real. But it doesn’t have to derail your retirement. If you understand when you need your money, build a diversified and flexible plan, and bolster your guaranteed income, the volatility that comes with investing may feel less overwhelming. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: “Experts Forecast Stock and Bond Returns: 2025 Edition” – Morningstar.com “Market Anxiety is Running High. How to Secure Your Retirement Portfolio.” – Barron’s What Can I Do When the Market Goes Down? 3 Investment Options – Mr. Retirement on YouTube Ideas to Build Your Cash Position in a Down Market – Mr. Retirement on YouTube If the Stock Market Crashes While I’m Retired, What do I do? – Mr. Retirement on YouTube Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team === Disclosures Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies. All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest. This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy. The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results. Legal & Tax Disclosure Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations. Advisor Disclosures Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC. Additional information about Alongside, LLC – including its...
Transcribe →Health Savings Account (HSA) Tax Breaks Incoming?
Jun 18, 202500:17:22Tap to summarizeExploring “The One, Big, Beautiful Bill” and its proposed changes to HSAs. There has been no shortage of conversation about what’s in the Trump Administration’s “One, Big, Beautiful Bill”, but the headlines that caught my attention for people nearing retirement recently centered on the proposed changes to the laws regarding Health Savings Accounts (HSAs). I decided to dive deeper into Laura Saunders’ article in The Wall Street Journal “Big Tax Breaks for Health Savings Accounts Get Even Better in the GOP Bill” to help explain what these changes mean and how they differ from today’s status quo. Plus, stick around to the end to see if you have been taking advantage of your HSA based on how the laws currently regulate them. Change for Health Savings Accounts in 2025 There’s a new proposal floating through Congress that could open the door to HSAs for 20 million more Americans. That’s huge. It’s been featured in publications like The Wall Street Journal and Yahoo Finance, and people like Roy Ramthun of HSA Consulting Services—aka “Mr. HSA”—are calling attention to the most important changes. If this bill passes, it could: Lower the threshold for what qualifies as a “high deductible health plan” Allow Medicare enrollees to continue contributing to their HSAs Simplify the rules for spousal catch-up contributions Enable some ACA (Affordable Care Act) plan participants to qualify for HSAs Expand eligible withdrawals to include fitness expenses (with some limits) Whether you’re retiring early, managing health costs on fixed incomes or have felt a strain on your finances due to health costs and taxes, these changes have the potential to impact your outlook with HSAs moving forward. Why HSAs Matter – Especially for Retirees An HSA is the only account that can give you a triple tax break: Tax-deductible contributions Tax-free growth via unused contributions building year over year Tax-free withdrawals for qualified healthcare expenses And here’s the kicker—unlike a Flexible Spending Account (FSA), you don’t lose unused HSA money at year’s end. It keeps growing for you, year after year. Yet, many people treat HSAs like FSAs and use up all their contributions each year. That’s the most common decision I see people making. Instead, you might want to consider what it would look like to approach your HSA differently. Contribute the maximum to your HSA, but don’t touch it unless absolutely necessary. Pay for current healthcare costs out-of-pocket if you can, and save the HSA funds for retirement. Health costs are a big part of retirement expenses, and your HSA can be a powerful tool to cover those tax-free. Are You Really Maxing Out Your HSA? Here’s another surprise: Many people think they’re maxing out their HSA when they’re not. If you’re contributing through payroll deductions—maybe $100 per paycheck—that might only total $2,600 for the year. But for 2025, the actual limits are: $4,300 for individuals $8,550 for families Plus $1,000 catch-up if you’re 55 or older (per eligible person) And no—you don’t have to stop at your employer’s HSA. You can contribute additional funds on your own or even open a second HSA account if your first provider won’t accept direct contributions. Many people don’t realize that. What’s Changing in the New Bill? If the bill passes, here are a few of the proposed improvements I’m most excited about: Contributing After Age 65Right now, you can’t contribute to an HSA once you’re on Medicare. But the new bill may change that—allowing older Americans to keep building this valuable, tax-advantaged resource. Simplifying Spousal ContributionsCurrently, if you’re over 55 and want to make the $1,000 catch-up contribution, each spouse needs their own HSA. That’s a logistical headache. The bill would allow both contributions to go into a single account. More HSA-Eligible ACA PlansMany early retirees rely on ACA coverage, but few plans qualify for HSA contributions. This bill could fix that, giving early retirees the same powerful savings tool they enjoyed while working. Fitness ReimbursementsThe bill would allow HSA funds to pay for certain fitness expenses—like gym memberships—up to $500 for individuals and $1,000 for families. There are restrictions (sorry, golf club dues don’t count), but it’s a step toward proactive health management. HSA Options Regardless of the Bill Even if none of this legislation passes, there’s still plenty of opportunity to benefit from your HSA today: Max it out—not just through payroll, but with direct contributions Don’t spend it—pay out of pocket if possible and let your contributions build Track your receipts—you can reimburse yourself later, tax-free Coordinate with your Medicare decisions—know how enrollment affects your HSA contributions If the bill passes as it is currently constructed at the time of this blog’s posting, the opportunities to utilize HSAs grow. But even without the changes, an HSA is still one of the most tax-efficient savings tools out there—especially for future healthcare costs in retirement. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: “Big Tax Breaks for Health Savings Accounts Get Even Better in the GOP Bill” by Laura Saunders, The Wall Street Journal HSA Consulting Services, LLC One Big Beautiful Bill Act – Congress.gov HSA Health Savings Accounts Strategies for 2024 – Mr. Retirement on YouTube Ranking the Top 4 HSA Providers – Mr. Retirement on YouTube 90% of People Make THIS Mistake With Their Health Savings Account (HSA) – Mr. Retirement on YouTube Top 3 Strategies to get More out of your HSA – Mr. Retirement on YouTube Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team === Disclosures Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies. All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest. This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold a...
Transcribe →Age 60 is a New Beginning, not an Ending | Allison McCune Davis
Jun 4, 202500:31:22Tap to summarizeAuthor Allison McCune Davis shares her insights on why turning 60 can be a powerful new beginning. Does turning 60 mean that your best days are behind you? Author Allison McCune Davis had her freak-out moment at 60, but what she found on the other side was a sense of purpose and direction that allowed her to seize this stage of life as an opportunity instead of an end of her previous life. Are you on a similar path? Stick around and see if Allison’s experience and guidance resonate with your situation. Redefining 60 For Allison, turning 60 was a wake-up call. Her children were growing up, and she found herself in a new phase of life—restless and searching. She had accomplished so much already, but like many of us approaching retirement or the “second half” of life, she asked the big questions: “Am I doing what I’m meant to be doing? What’s next?” That restlessness turned into action. She explored new communities, accepted challenges, and eventually launched what would become her 60-day lifestyle transformation framework, captured in her book “60 Is a Good Start.” Why 60 Days? Allison explains how she came ot understand that it takes about 60 days to build a meaningful habit based on her own research. That’s why she built her 60-day “Dare” program, designed to help people reset their habits and rediscover their energy and purpose. And these habits aren’t extreme or overwhelming. They’re small, consistent actions across three life areas: Body Work, Brain Work, and World Work. The 3 Pillars of Longevity and Fulfillment Body Work – Eat, move, sleep, drink water, and breathe. Simple, right? But how intentional are you being with these? You don’t need to overhaul your life—Allision suggests just focusing on improving one area for 60 days. Maybe it’s walking every day or cutting back on sugar. The key is consistency. Brain Work – Your thoughts and emotional well-being are also important, and many people weight them with less important than physical health. This pillar encourages journaling, reading, decluttering, and meditation. Allison emphasizes that your thoughts are just habits too—ones that can be changed with practice. World Work – This is where purpose and relationships live. It’s about reconnecting with what lights you up and the people who matter most. Whether it’s reaching out to an old friend, volunteering, or pursuing a long-lost passion, Allison teaches that world work is what keeps us energized and connected. A Purpose-Filled Retirement Starts with One Choice I loved how Allison broke it down: you don’t have to do everything at once. Pick one habit in each of the three categories and commit to it for 60 days. That’s it. The idea isn’t to create a perfect life overnight. It’s to set a direction that brings meaning, health, and connection back into your daily routine. Her “60-Day There” isn’t just a wellness challenge—it’s a life strategy. And what I found especially valuable is that it isn’t solely designed for one specific age group or demographic. Whether you’re still working part-time, managing grandkids, or thinking about your next big goal, these small steps may help to create momentum. Whether you’re approaching your 60th or you’re in the middle of the challenges that came from that life transition, Allison’s story is one that can provide hope and perspective. Life after 60 doesn’t have to be about what you left behind–there’s a future waiting for you. Go seize it! Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: Allison McCune Davis on Instagram “Sixty is a Good Place to Start: A Powerful Body, a Purposeful Life, and a Plan to Make It Happen” by Allison McCune Davis AllisonMcCuneDavis.com Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team === Disclosures Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies. All content is provided for educational purposes only and does not constitute personalized investment advice. Read below for current disclosures and potential conflicts of interest. This media is provided for informational and educational purposes only and does not consider the investment objectives, financial situation, or particular needs of any consumer. Nothing in this program should be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell, or hold any security or to adopt any investment strategy. The views and opinions expressed are those of the host and any guest, current as of the date of recording, and may change without notice as market, political or economic conditions evolve. All investments involve risk, including the possible loss of principal. Past Performance is no guarantee of future results. Legal & Tax Disclosure Consumers should consult their own qualified attorney, CPA, or other professional advisor regarding their specific legal and tax situations. Advisor Disclosures Alongside, LLC, doing business as Keil Financial Partners, is an SEC-registered investment adviser. Registration does not imply a certain level of skill or expertise. Advisory services are delivered through the Alongside, LLC platform. Keil Financial Partners is independent, not owned or operated by Alongside, LLC. Additional information about Alongside, LLC – including its services, fees and any material conflicts of interest – can be found at https://adviserinfo.sec.gov/firm/summary/333587 or by requesting Form ADV Part 2A. The content of this media should not be reproduced or redistributed without the firm’s written consent. Any trademarks or service marks mentioned belong to their respective owners and are used for identification purposes only. For important disclosures visit: https://keilfp.com/disclosures/ ===
Transcribe →Are You Headed for Retirement Heaven or Hell?
May 28, 202500:33:45Tap to summarizeRetirement author Mike Drak shares his story of emerging from the hardships of retirement to finding his own satisfaction. You’ve had that retirement dream for years. The fishing trips, the annual cruise, the regular nights with the grandchildren…whatever it is, that prize at the end of your career feels more within your grasp with each passing day. But what happens when retirement doesn’t feel like the dream you imagined? I had the opportunity to sit down with Mike Drak, author of Retirement Heaven or Hell: Which Will You Choose? Mike’s story was both inspiring and eye-opening because his story went a lot like the scenario I just laid out. His candid reflection on being forced into retirement, hitting rock bottom emotionally, and eventually finding his “retirement heaven” offers a powerful lesson for anyone approaching retirement age. The Myth of the Perfect Retirement Mike spent 36 years working in financial services, helping people save for retirement. Like many of us in the industry, he assumed that having a large enough nest egg was the key to a successful retirement. But when he was forced into early retirement, he realized just how wrong that assumption was. At first, it felt like he had hit the jackpot—no more commutes, bosses, or office politics. But within weeks, the cracks began to show. Mike was alone, bored, and spiraling into a deep depression. Despite having financial stability, he lacked something even more critical: purpose. If you’re a Retirement Revealed listener, you have probably heard this refrain before: retirement isn’t just about financial planning—it’s about emotional and psychological readiness too. Retirement Shock is Real Mike’s experience isn’t unique. He calls it “retirement shock,” and it’s something both he and his parents experienced in different ways. His father, after retiring, found himself miserable trying to mimic his wife’s routine. The turning point came when his mother handed him a classifieds section with part-time job options circled. That simple nudge changed everything. His dad landed a job delivering pet food—a far cry from his previous executive role—but it gave him purpose, routine, and social interaction. He even mentored the store’s young manager, finding fulfillment in helping someone else grow. That’s the real magic: retirement doesn’t necessarily have to be the end of contribution. It can be the beginning of a new phase of meaningful engagement. The Path to Purpose Finding that next chapter takes time and introspection. Mike introduced a Japanese concept called ikigai—the intersection of what you love, what you’re good at, what the world needs, and what you can be paid for. It’s a simple yet powerful framework for discovering purpose. Mike tried several ideas before finding his true fit. He considered working at a fishing store, leveraging his passion for the sport. Then he thought about returning to the financial industry. Ultimately, he realized that he wanted to be his own boss, share his journey, and help others avoid the same mistakes. Becoming a writer, coach, and speaker aligned perfectly with his ikigai. Health is Wealth Mike didn’t stop with finding emotional purpose—he made physical health a priority too. After struggling with weight gain and depression, including a close call with suicidal thoughts triggered by a medication, he committed to regaining his health. His ambitious goal? Completing an Ironman triathlon at age 70. He’s now 60 pounds lighter and training hard every day. His message is clear: you can reinvent yourself at any age. It takes commitment, support, and a willingness to do the hard work—but it’s absolutely possible. Becoming a Retirement Rebel Mike proudly wears the label “Retirement Rebel.” Instead of accepting the traditional script of slowing down and disengaging, he advocates for redefining retirement altogether. Retirement, in his view, isn’t the end—it’s a new beginning. A time to re-bloom, pursue passions, and create a legacy. And the best part? You don’t have to go it alone. Your Retirement Movie Mike encourages all of us to think of retirement like a movie. Even if the beginning wasn’t ideal, the ending is still being written. You can change the narrative. Focus on relationships, health, purpose, and contribution. As Mike puts it, that’s how you can create your own version of retirement heaven. Don’t forget to leave a rating for the “Retirement Revealed” podcast if you’ve been enjoying these episodes! Subscribe to Retirement Revealed to get new episodes every Wednesday. Apple Podcasts: https://podcasts.apple.com/us/podcast/retirement-revealed/id1488769337 Spotify Podcasts: https://bit.ly/RetirementRevealedSpotify Additional Links: Follow Mike’s Ironman journey on Instagram: @retirement_rebel Download Mike Drak’s books for free: https://boomingencore.com Mike Drak on LinkedIn “Retirement Heaven or Hell” by Mike Drak “Longevity Lifestyle By Design” by Mike Drak Connect With Jeremy Keil: Keil Financial Partners LinkedIn: Jeremy Keil Facebook: Jeremy Keil LinkedIn: Keil Financial Partners YouTube: Retirement Revealed Book an Intro Call with Jeremy’s Team === Disclosures Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. 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