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28. Taking The Mystery Out of Estate Planning



Estate planning can be complicated and may involve some uncomfortable conversations with family members and loved ones, albeit necessary. You want to be sure that your estate is going to the right people in the right order.

In this episode, Barry Watts uncovers the mystery of estate planning. Barry looks at multiple legal mechanisms used to transfer assets that can help you avoid having your assets distributed by the state or a judge. He also provides clarity on choosing how your assets are divided and to whom.

Barry discusses:

  • What happens to your assets when you die if you don’t have a plan
  • Who should inherit your assets
  • Legal mechanisms for transferring assets, and why you likely want to avoid probate
  • Passing assets by contract, and understanding trusts
  • How you can get your estate plan in order
  • And more

Resources:

Connect With Barry Watts:

 


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27. Everything You Ever Wanted to Know About Social Security But Were Too Afraid to Ask



Historically, many Americans have planned to rely on Social Security to get them through retirement. But what happens if Social Security isn’t enough to help you secure the retirement you want and know you deserve?

In this episode, J. Barry Watts discusses some of those tough questions about Social Security, and helps you to understand how you can optimize that benefit to become your largest financial asset.

Barry discusses:

  • The age at which you should start to file for Social Security
  • The minimum qualifications for Social Security 
  • A breakdown of how Social Security is funded
  • How to maximize your Social Security benefit should your spouse pass away 
  • How to avoid taxes on your Social Security
  • And more

Resources:

  1. How to Have More Tax Free Income in Retirement

Connect With Barry Watts:


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26. Don’t Let This Devastate Your Retirement



Not managing your sequence of returns risk properly could damage your retirement.

In this episode, J Barry Watts helps you understand how to protect yourself and your retirement from this type of investing risk. He helps you understand what a sequence of returns is, how it can hurt your retirement, and how to manage the risk and protect yourself.

Barry discusses:

  • What to know about a sequence of returns risk
  • Tools you can use to protect yourself from a negative sequence of returns
  • How a negative sequence of return could damage your retirement
  • How to manage the risk of a sequence of return
  • And more

Connect With Barry Watts:


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25. Understanding the Investment Fees You Pay



Do you know which fees you pay on your investment account? How much are they? And if you don’t know, shouldn’t you?

How can you find out what these fees are and where they come from?

In this episode, J Barry Watts and Eric Burlison provide you with all the information you need to better understand the fees you are paying on your investment account. They help you discover which fees you are actually paying, and discuss whether the fees are worth paying.

Barry and Eric discuss:

  • Why you are paying fees on your investment accounts
  • The specific fees you are paying that you may be unaware of
  • The type of fees brokerage firms, mutual funds, and registered investment advisory firms charge on your investments
  • Where you can discover which fees you’re paying and if the fees are worth paying
  • And more

Connect With Barry Watts:


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24. How to Protect Your Investments and Retirement from Risk



We know that risk is always involved in investing—in fact, we know that past performance cannot guarantee future results. 

However, there are tools and strategies that exist that can help you protect your investments and your retirement from risk.

In this episode, J Barry Watts speaks about tools that you are able to take advantage of so you can better protect your investments and your retirement from risk. Barry shares how these tools work and how he uses them personally. 

Barry discusses:

  • Diversification and how depending solely on it might not be the best protection against risk
  • Equity linked certificate of deposits 
  • Using annuities to protect your principal
  • The Supply Demand Indicator and how it works
  • And more

Connect With Barry Watts:


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23. How Risk Impacts Your Retirement



Every single person is unique, and with that, comes a unique level of risk tolerance within their portfolio. 

In this episode, J Barry Watts and Eric Burlison discuss risk and volatility as it pertains to your portfolio, and how you can understand what your own personal risk tolerance is. Barry and Eric use examples of how the market has behaved in the past to help you understand what happens if you are taking on too much risk. 

Barry & Eric discuss:

  • Investment risk and how it impacts your portfolio and retirement
  • The arithmetic of loss and understanding what it takes to even out after a loss
  • How to quantify the amount of risk you are willing to hold
  • Why understanding your risk number matters to protecting yourself
  • And more!

Connect With Barry Watts & Eric Burlison:


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Episode 22 – Your Biggest Retirement Question



When it comes to retirement, there are a lot of questions that you should be asking yourself to prepare. However, there is one very important question that people don’t always take the time to think about. 

In this episode, Barry Watts speaks about what questions you should be asking yourself as you plan for your retirement so you can be sure that you are retiring comfortably. Barry takes you through some of the factors that are going to impact your retirement so you can design a plan that addresses them all. 

You will learn: 

  • How to use your current income to understand what you need in retirement  
  • The importance of taking into consideration with your annual expenses when designing a retirement plan  
  • Automatic income as a factor when designing your ideal retirement 
  • And more!

Tune in now to ask yourself the biggest question in retirement, and begin planning your dream retirement with it in mind! 

Resources: SavingYouTaxes.com | J. Barry Watts | Episode 14 – How to Have More Tax Free Income in Retirement 


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Episode 21 – New Ways to Pay for Long-Term Health Care



When it comes to planning for long-term care, your health is just as important as your wealth in helping you qualify.

In this episode, Barry Watts discusses new ways to pay for long-term care, and the importance of planning for long-term care before it is too late! Barry shares the options available to you and gives some examples to help you better understand what those options really mean! 

You will learn: 

  • How you can qualify for long-term care 
  • How Medicaid plays into the long-term care conversation
  • Ways in which you can start planning for long-term care now to help you when you need it 
  • Why people tend to shy away from long-term care insurance  
  • And more!

Tune in now to learn why long-term care is ultimately going to be inevitable and what you should be doing now to help you later! 

Resources: SavingYouTaxes.com | J. Barry Watts |


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Episode 20 – Questions You Must Answer Before Visiting a Retirement Designer



Have you ever been in the situation where you are meeting with someone about your finances and you just can’t seem to answer their questions? 

This problem happens more frequently than you might think, and we are here to help you never be in that situation again! 

In this episode, Barry Watts goes through nine of the most common questions that you should know the answer to before visiting your advisor. Barry explains why each of these questions are important and how you can access the necessary information before your next financial meeting! 

You will learn: 

  • How to figure out how much money you will need after taxes in retirement 
  • What the tax brackets are and how to know which one you are in 
  • What you need to know about your Social Security in retirement  
  • Ways in which you can leave a legacy for your children 
  • And more!

Tune in now to discover how to answer the most common questions asked when planning for retirement!

Resources: SavingYouTaxes.com | J. Barry Watts 


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Episode 19 – Saving Taxes By Employing Your Kids



You could be paying your child as an employee as a way to increase your tax savings. 

Does that sound a little too good to be true? We are here to tell you, it’s not! 

In this episode, Barry Watts explains how you are able to set your child up as an employee for your company earning an income that will allow you to spend pre-tax dollars on them! Barry goes into detail about how this unique strategy works and why few people are taking advantage of it! 

You will learn: 

  • How you can implement this strategy into your business 
  • Who is eligible to take advantage of the tax deduction  
  • At what age your child is eligible to participate in this strategy  
  • Barry’s suggestions on what your child could be doing for your business to make them considered an employee 
  • How this strategy could be set up to give your child savings for the future 
  • And more!

Tune in now to equip yourself with information that could help you use pre-tax dollars on your child’s expenses! 

Resources: SavingYouTaxes.com | J. Barry Watts