Monthly Archives: October 2021

Feature Image

30. Strengthening Your Family Through Legacy Trusts

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , , ,

Have you ever considered opening a trust for your family? Legacy trusts can ensure your family’s legacy for generations to come.

In this episode, J Barry Watts discusses trusts and how valuable they can be to your family. Barry simplifies and answers questions you may have regarding trusts. Barry shares why people don’t have trusts, and explains why the idea that “I’m not rich enough” is not as big of a concern as many people believe it to be.

Barry discusses:

  • What a trust is and why you should consider adding one to your plan
  • Reasons why people don’t have a trust—and why they may want to reconsider
  • How trusts can be used to strengthen family ties
  • And more

Connect With Barry Watts:

Podcast: Play in new window | Download

Subscribe: Spotify | iHeartRadio | TuneIn | RSS | More

Feature Image

29. Reducing Taxes on Your IRA or 401(K) Required Minimum Distributions

Uncategorized, , , , , , ,

How do you figure out the required minimum distributions (RMD) on your retirement accounts? What are the taxes? Can you reduce or eliminate the taxes?

In this episode, J Barry Watts and Eric Burlison look at four ways you can reduce or eliminate the taxes owed on your RMDs. Barry and Eric remind listeners of what a RMD is, and when you are expected to begin taking these withdrawals.

Barry and Eric discuss:

  • RMDs  and the basics of how withdrawals are calculated
  • The potential consequences of not making these withdrawals and why it’s important to know every detail of your taxes
  • Four ways you can reduce or eliminate the taxes owed to on an RMD
  • And more

Connect With Barry Watts:

Podcast: Play in new window | Download

Subscribe: Spotify | iHeartRadio | TuneIn | RSS | More