Category Archives: Financial

23. How Risk Impacts Your Retirement

July 14, 2021Finance, Financial, Retirement, Taxes, UncategorizedFinancial Advisor, Portfolio Management, Retirement Planning, Risk, Risk Tolerance, Saving You Taxes, Tax Planning, Truth About Taxes and Retirementtruthabouttaxesandretirement

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!

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Episode 22 – Your Biggest Retirement Question

June 16, 2021Finance, Financial, Retirement, Taxes, UncategorizedBarry Watts, Finance, Finances, Financial, Financial Advisor, J Barry Watts, Retirement, Retirement Design, Retirement Planning, Saving You Taxes, SavingYouTaxes, SavingYouTaxes.com, Tax Planning, Taxes, Truth, Truth About Taxes and Retirement, Wealthtruthabouttaxesandretirement

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

May 19, 2021Finance, Financial, Retirement, Taxes, UncategorizedFinancial Advisor, Healthcare Planning, Long-Term Healthcare, Retirement Planning, Saving You Taxes, Tax Planning, Truth About Taxes and Retirementtruthabouttaxesandretirement

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

May 5, 2021Finance, Financial, Retirement, Taxes, UncategorizedBarry Watts, Finance, Finances, J Barry Watts, Retirement, SavingYouTaxes, SavingYouTaxes.com, Taxes, Truthtruthabouttaxesandretirement

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

April 21, 2021Finance, Financial, Retirement, Taxes, UncategorizedBarry Watts, Finance, Finances, Financial, J Barry Watts, Retirement, SavingYouTaxes, SavingYouTaxes.com, Taxes, Truth, Wealthtruthabouttaxesandretirement

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

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Episode 18 – The $200,000 Tax Deduction I Personally Use

April 6, 2021Finance, Financial, Retirement, Taxes, UncategorizedBarry Watts, Finance, Finances, Financial, J Barry Watts, Retirement, SavingYouTaxes, SavingYouTaxes.com, Taxes, Truth, Wealthtruthabouttaxesandretirement

You did not read the title incorrectly!

There is a $200,000 tax deduction that you could be using! And many times, we don’t see people taking advantage of it.

In this episode, Barry Watts and Eric Burlison dive into conversation about a huge tax deduction that Barry is already using, and how you could be using it too! They speak about how this type of pension plan benefits the employer and lets you tip the scale in your direction.

You will learn:

How the tax deduction works for employers
Why people stopped using this type of account
The benefits it has to the employer
How anyone can take advantage of this account, even if you are not currently a business owner
And more!

Tune in now to discover the tax deduction plan that is going to help you keep more money in your pocket and push the scale back in your favor.

Resources: SavingYouTaxes.com | J. Barry Watts | Eric Burlison

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Episode 17 – Golden Handcuffs to Retain Valuable Employees

March 24, 2021Finance, Financial, Retirement, Taxes, UncategorizedBarry Watts, Finance, Finances, Financial, J Barry Watts, Retirement, SavingYouTaxes, SavingYouTaxes.com, Taxes, Truth, Wealthtruthabouttaxesandretirement

What if we told you that there is a tax-free way you could better retain your most valuable employees through an account that they can withdraw money from each year?

In this episode, Barry Watts discusses the Golden Handcuff plan you could be using to keep your most valuable employees, and how using the plan could help keep money in your pocket. Barry helps you understand how this plan works and what the benefits are to both the employee and the employer.

You will learn:

What the golden handcuffs are and how can you take advantage of the plan for your employees
Real examples of the plan in action
Why you would choose this plan
And more!

Tune in now to discover a way in which you can keep your best talent locked into place with you!

Resources: SavingYouTaxes.com | J. Barry Watts

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Episode 16 – Immediate Tax Increase Being Planned

February 24, 2021Finance, Financial, Retirement, Taxes, UncategorizedBarry Watts, Finance, Finances, Financial, J Barry Watts, Retirement, SavingYouTaxes, SavingYouTaxes.com, Taxes, Truth, Wealthtruthabouttaxesandretirement

Under the new Administration, there are proposed tax increases under review in Washington, and it’s beneficial if you understand them sooner rather than later!

In this episode, Barry Watts and Eric Burlison discuss various proposals that have been presented by the Biden Administration that could potentially increase your taxes. Barry and Eric highlight three of these proposals and help you understand just what they mean and how you can prepare for these changes.

In this episode we discuss:

The elimination of the step-up basis
How Social Security will be impacted by these proposed increases
How taxes will increase for corporations and high-earning individuals
What the changes could mean for the country and you
And more!

Tune in now to understand current tax proposals and how you can prepare for them.

Resources: SavingYouTaxes.com | J. Barry Watts | Eric Burlison

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Episode 15 – Getting More Money into Tax Free Accounts

February 10, 2021Finance, Financial, Retirement, Taxes, UncategorizedBarry Watts, Finance, Finances, Financial, J Barry Watts, Retirement, SavingYouTaxes, SavingYouTaxes.com, Taxes, Truth, Wealthtruthabouttaxesandretirement

When it comes to your money, it is important to have the right amount in each bucket so you can hold the most amount of non-taxable money.

In this episode, Barry Watts dives into conversation about the three buckets your money could fall into, what taxes look like in each bucket, and just how much money you want to keep in each bucket.

In this episode we discuss:

What each of the three buckets are and what they’re used for
The tax situation in the three buckets
How much money you should be holding in each bucket
And more!

Tune in now to learn about tax-free accounts and how you could be moving your money around to save on taxes!

Resources: SavingYouTaxes.com | J. Barry Watts | The LIRP Account Podcast

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Episode 14 – How to Have More Tax Free Income in Retirement

January 27, 2021Finance, Financial, Retirement, Taxes, UncategorizedBarry Watts, Finance, Finances, Financial, J Barry Watts, Retirement, SavingYouTaxes, SavingYouTaxes.com, Taxes, Truth, Wealthtruthabouttaxesandretirement

Are you interested in a tax-free account that will help you work towards your retirement goals?

In this episode, Barry Watts and Eric Burlison, Tax Strategists and Retirement Designers, take a look at a type account that not many people are aware of and dissect it to help you fully grasp how it works! The Life Insurance Retirement Plan (LIRP) can help you save tax free money for your retirement goals!

In this episode we discuss:

How the tax code is our friend, not our enemy
How the LIRP works
Barry’s own personal use of an LIRP
Contributions and fees associated with an LIRP
And more!

Tune in now to discover how you could be setting money into a tax-free account and get on the right track toward your retirement goals

Resources: SavingYouTaxes.com | J. Barry Watts | Eric Burlison

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