Watts On Wealth
Watts On Wealth
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037. Plan Ahead for Taxes
In this episode of Watts on Wealth Radio, Barry Watts and Ralph Hibbs discuss the importance of year-end financial planning and tax strategies. They reflect on the Y2K event and celebrate Dick Van Dyke's 99th birthday. Barry highlights key considerations for year-end reviews, such as investment performance, healthcare costs, and tax planning, while emphasizing the benefits of Roth conversions and strategic tax management. The conversation also covers retirement planning, Social Security, and college funding, with a focus on risk management and prioritizing personal financial security. Tune in for practical tips to close the year with a strong financial foundation.
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Be sure to listen to Watts on Wealth with Barry Watts every Sunday at 8:30am on Springfield’s Talk 104.1 FM
- 037. Plan Ahead for Taxes -
“Thank you for Listening” - J. Barry Watts
#JBarryWatts #RetirementPlanning #inflation
#TruthAboutTaxesAndRetirement #WealthCareCorporation #SavingYouTaxes #Springfield #MO #Missouri #Retirement #RetirementStrategy #tax #taxes #WealthCareCorp #WattsOnWealth #watts #barrywatts
Переглядів: 2

Відео

Secure Your Future: Key Tips for a Smart Small Business Exit Plan #estateplanning #smallbusiness
Переглядів 214 годин тому
Call today for a confidence check-up: 417-882-1726 Get Watts on Wealth the 📘: a.co/d/bETW4aY Website: wealthcarecorp.com/ Facebook: WealthCareCorp UA-cam: www.youtube.com/@WattsOnWealth 🎙️ Podcast: Watts on Wealth Radio Show pod.link/1737485633 🎙️ Podcast: The Truth About Taxes and Retirement pod.link/1520277576 - Secure Your Future - Key Tips for a Smart Small Business Exit Plan -...
Small Business Tips Every Owner Should Know #smallbusiness #estateplanning
Переглядів 3814 днів тому
Call today for a confidence check-up: 417-882-1726 Get Watts on Wealth the 📘: a.co/d/bETW4aY Website: wealthcarecorp.com/ Facebook: WealthCareCorp UA-cam: www.youtube.com/@WattsOnWealth 🎙️ Podcast: Watts on Wealth Radio Show pod.link/1737485633 🎙️ Podcast: The Truth About Taxes and Retirement pod.link/1520277576 - Small Business Tips Every Owner Should Know - Full Video: ua-cam.com...
Your Retirement Q&A #1
Переглядів 2414 днів тому
Your Retirement Q&A #1
Retirement Guardrails: How to Protect Your Financial Future - J. Barry Watts #retirementdesigner
Переглядів 3521 день тому
Retirement Guardrails: How to Protect Your Financial Future - J. Barry Watts #retirementdesigner
The Financial Impact of Losing a Spouse and Long Term Care in Retirement #retirementdesigner
Переглядів 28Місяць тому
The Financial Impact of Losing a Spouse and Long Term Care in Retirement #retirementdesigner
036. Medicare
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036. Medicare
New Risk in Retirement Longevity and How it Affects Your Retirement
Переглядів 160Місяць тому
New Risk in Retirement Longevity and How it Affects Your Retirement
How We Made Retirement Planning Personal | Client Story
Переглядів 12Місяць тому
How We Made Retirement Planning Personal | Client Story
Basics of Estate Planning: Watts on Wealth - J Barry Watts
Переглядів 18Місяць тому
Basics of Estate Planning: Watts on Wealth - J Barry Watts
Working with a Team That Truly Listens | Client Story
Переглядів 10Місяць тому
Working with a Team That Truly Listens | Client Story
035. Taxes in Retirement
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035. Taxes in Retirement
WHEN RETIREMENT COMES SOONER THAN EXPECTED. Watts on Wealth #retirement #retirementplanning
Переглядів 97Місяць тому
WHEN RETIREMENT COMES SOONER THAN EXPECTED. Watts on Wealth #retirement #retirementplanning
SNEAK ATTACKS Watts on Wealth #retirement #retirementwisdom #retirementplanning
Переглядів 15Місяць тому
SNEAK ATTACKS Watts on Wealth #retirement #retirementwisdom #retirementplanning
NAVIGATING RETIREMENT CURVEBALLS Watts on Wealth #retirement #retirementwisdom #retirementplanning
Переглядів 30Місяць тому
NAVIGATING RETIREMENT CURVEBALLS Watts on Wealth #retirement #retirementwisdom #retirementplanning
RETIREMENT CONSTRUCTION ZONE Watts on Wealth #retirement #retirementplanning #retirementwisdom
Переглядів 38Місяць тому
RETIREMENT CONSTRUCTION ZONE Watts on Wealth #retirement #retirementplanning #retirementwisdom
RETIREMENT FOR SMALL BUSINESS OWNERS: Watts on Wealth #smallbusiness #businessowner
Переглядів 16Місяць тому
RETIREMENT FOR SMALL BUSINESS OWNERS: Watts on Wealth #smallbusiness #businessowner
Low Cost Estate Planning : Are They Truly Worth It? / Watts on Wealth Clip 20 #estateplanning
Переглядів 10Місяць тому
Low Cost Estate Planning : Are They Truly Worth It? / Watts on Wealth Clip 20 #estateplanning
MAJOR RETIREMENT RISKS : Watts on Wealth #retirementwisdom #retirementplanning #retirement
Переглядів 42Місяць тому
MAJOR RETIREMENT RISKS : Watts on Wealth #retirementwisdom #retirementplanning #retirement
Estate Drama: How to Plan Effectively and Protect Your Legacy #estateplanning
Переглядів 202 місяці тому
Estate Drama: How to Plan Effectively and Protect Your Legacy #estateplanning
034. Medicare & Retirement Risk
Переглядів 42 місяці тому
034. Medicare & Retirement Risk
Estate Planning: Don’t Let the State Plan for You - Watts on Wealth Clip 18 #estateplanning
Переглядів 182 місяці тому
Estate Planning: Don’t Let the State Plan for You - Watts on Wealth Clip 18 #estateplanning
033. Taking Control of your Retirement
Переглядів 192 місяці тому
033. Taking Control of your Retirement
When is the Best Time to Start Your Estate Planning? Watts on Wealth Clip #17
Переглядів 212 місяці тому
When is the Best Time to Start Your Estate Planning? Watts on Wealth Clip #17
032. 401k's and Mailbag Questions
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032. 401k's and Mailbag Questions
Watts On Wealth: Retirement Review Process - J. Barry Watts
Переглядів 262 місяці тому
Watts On Wealth: Retirement Review Process - J. Barry Watts
Why Getting Retirement Financial Help Later Can Cost You More Than Just Money | Client Story
Переглядів 572 місяці тому
Why Getting Retirement Financial Help Later Can Cost You More Than Just Money | Client Story
YouTube Premiere: Episode 5 Trailer!
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UA-cam Premiere: Episode 5 Trailer!
Tax Strategy : A Full Picture to Retirement Planning - Watts on Wealth Clip #16
Переглядів 322 місяці тому
Tax Strategy : A Full Picture to Retirement Planning - Watts on Wealth Clip #16
031. Three Stages of Retirement
Переглядів 272 місяці тому
031. Three Stages of Retirement

КОМЕНТАРІ

  • @yi4733
    @yi4733 5 днів тому

    This will come back to bite a lot of people in the end.

  • @TinaZickefoose
    @TinaZickefoose 7 днів тому

    This DOES help me. I am a teacher. I absolutely love it. Thanks for sharing this with us.

  • @kennethmcgovern3739
    @kennethmcgovern3739 29 днів тому

    More years of compound interest.

  • @88888gerald
    @88888gerald Місяць тому

    can you believe that people are still taking social security at 62? part of it seems to escape people.....social security yearly supposedly balances for inflation by a cola..cost of living adjustment.....heres the kicker.....the cola is expressed in a percentage......people who took at 62 lost thirty percent of their earned money..at that instant....with every year boosting not only your starting check..but every check you will get til you die.....from minus thirty percent...to plus 24 percent if you wait til 70.......so the average cola...2.5 percent...is about fifty dollars..on the top side...its over a hundred dollars.....thats why taking early is so wrong....

  • @Uridien
    @Uridien 2 місяці тому

    Depends on State you live in. And doesn't TOD's supercede even a Will?

    • @NH_1977
      @NH_1977 2 місяці тому

      TOD’s usually supersede a Will

  • @DukeBlue2012
    @DukeBlue2012 2 місяці тому

    It’s almost like someone who was President and thought they would be out of office in 2026 wanted to create a tax time bomb for the next President.

    • @WattsOnWealth
      @WattsOnWealth 2 місяці тому

      We appreciate you sharing your thoughts!

  • @photonganglol2413
    @photonganglol2413 2 місяці тому

    Fear mongering dweebs with no viewership and no one to talk to

  • @missouri6014
    @missouri6014 3 місяці тому

    I started watching this because I thought it was a retirement planning show. I didn’t know it was gonna be a remake of Fox News.

  • @KB-ke3fi
    @KB-ke3fi 4 місяці тому

    Your 401K ends when you get laid off, and then you have to cash in on it. Inflation is 20% higher now in the past 3 years, and COLA is going to be lower than it was before by more than 2/3rd. This Dem party always cashes out on the seniors who have worked for 50 years...they want them to die off and they're doing it silently.

    • @WattsOnWealth
      @WattsOnWealth 3 місяці тому

      That is why a wise vote is so important.

  • @robertstephens8339
    @robertstephens8339 4 місяці тому

    Welcome to the Democratic party's creation that you voted for!

    • @WattsOnWealth
      @WattsOnWealth 4 місяці тому

      Not sure who "you" is here???????

  • @MrCloakandpoke
    @MrCloakandpoke 4 місяці тому

    Hey Murika, how about Epstien Illand?

    • @WattsOnWealth
      @WattsOnWealth 4 місяці тому

      Unfortunately, it's unclear how your comment relates to the video.

  • @maaximreyes
    @maaximreyes 5 місяців тому

    And here we are waiting for the recession 2024, and the fed rate cuts

    • @WattsOnWealth
      @WattsOnWealth 4 місяці тому

      September 17-18 are the dates when we'll probably see rate cuts.

  • @missouri6014
    @missouri6014 6 місяців тому

    So I think everyone understands we have to control the spending, but please tell us as a country how that would look because it seems that the very smart guys like you and I mean that with all due respect, I never mention about texting those that are very wealthy Just why is that instead they want to pick on taking away money from mom’s are single with children You ever notice that So, perhaps you can elaborate on that without extremism What do I mean by that well without saying something like the rich already pay so much more in taxes Or how about this one the rich already pays 60% of all taxes and that’s not fair Please give us some insight And by the way, I attended two of your classes at Missouri State and they were very informative and I appreciate all the effort that you had to do in order to teach those night courses. I appreciate it. Thank you.

    • @WattsOnWealth
      @WattsOnWealth 6 місяців тому

      Thank you for listening to the podcast. I'm excited to know that you've been to one of our classes. I'll mention your comments to Barry and who knows, he may find a way to work those ideas into a future edition of the Watts on Wealth TV show on KY3, or the radio show in KSGF, or in a future podcast. Thank you so much for your feedback. We truly appreciate it.

  • @Adnanhasb1
    @Adnanhasb1 7 місяців тому

    Thank you for this share. What you shared is not taught in school

    • @WattsOnWealth
      @WattsOnWealth 7 місяців тому

      You're very welcome! Thank you for watching!

    • @Adnanhasb1
      @Adnanhasb1 7 місяців тому

      @@WattsOnWealth Done in a simple to understand manner ... Easy to consume the info

  • @missouri6014
    @missouri6014 7 місяців тому

    Great advice The hard part is, how do you pick the demand?

    • @WattsOnWealth
      @WattsOnWealth 7 місяців тому

      That information is readily available. Some investment professionals understand how to use it to the benefit of their clients. Others, not so much.

  • @makhdoom0004
    @makhdoom0004 9 місяців тому

    You are there to help banks

    • @WattsOnWealth
      @WattsOnWealth 9 місяців тому

      Thank you for your comment! We are focused on what helps the individual first and foremost. For context here is the link for the full video ua-cam.com/video/2410SkabmQg/v-deo.html that show that. Have a great day!

  • @christianroboto4374
    @christianroboto4374 11 місяців тому

    Full context?

  • @soulfitlitinft
    @soulfitlitinft 11 місяців тому

    Nice , thank you 🙏

    • @WattsOnWealth
      @WattsOnWealth 10 місяців тому

      You can find our full video where this short came from at this link: ua-cam.com/video/BXVAwaG7UOc/v-deo.html . Thank you!

  • @tomj528
    @tomj528 11 місяців тому

    This is why I'm in the midst of a 20+ year plan to slowly and under taxable limits convert our tax deferred accounts to our Roth IRAs, completely de-fusing the dreaded "Tax Torpedo" and the "Widow's Tax Trap".

  • @guineapigzed
    @guineapigzed 11 місяців тому

    If we all stop paying tax, what a beautiful thing!

    • @WattsOnWealth
      @WattsOnWealth 11 місяців тому

      I favor a fair tax myself. Let's keep pushing for that.

  • @als2cents679
    @als2cents679 11 місяців тому

    It does not work as you say, since there is still the income requirement to be met. Once that is met, you could also have funded using gift amounts to your child.

    • @WattsOnWealth
      @WattsOnWealth 11 місяців тому

      There is no income requirement for a 529 plan.

    • @als2cents679
      @als2cents679 11 місяців тому

      @@WattsOnWealth True, but you need to have earned income to contribute to a Roth IRA. This means the child is required to have earned income in order to roll over cash from 529 plan to their Roth IRA. If they actually had the income then it is probably better to fund the contribution from a taxable account, unless the 529 plan looks way overfunded making it difficult to get the money out through qualified distributions.

    • @TheOriginalCameron
      @TheOriginalCameron 11 місяців тому

      ​@@als2cents679That is a good point. The man never said anything about beating the income requirement to be the first person to ever have an unemployed child contribute to a Roth IRA.

    • @WattsOnWealth
      @WattsOnWealth 11 місяців тому

      @@als2cents679 The subject of the videos is not funding ROTH IRAs directly, but rather 529 plans and how you can fund them, with a ROTH IRA backstopping them as the ultimate destination for the money if the child doesn't use it for education. So the point isn't IRA rules, it's 529 opportunities. Thank you for watching.

    • @WattsOnWealth
      @WattsOnWealth 11 місяців тому

      @@TheOriginalCameron but many of our business owner clients employ their children in their business, tax deductibly, and the child avoids paying tax on the income. But that's another topic for another day.

  • @brentlorrilliere6057
    @brentlorrilliere6057 11 місяців тому

    "under the current tax code..." there is always a catch.

  • @Coreydarn
    @Coreydarn Рік тому

    Before the end of retirement? You could’ve just said before they die right?😂

  • @malcolmnicholls2893
    @malcolmnicholls2893 Рік тому

    I like spending money. Earning it is the bugger!

  • @braddavid902
    @braddavid902 Рік тому

    Great advice. Thank you

    • @WattsOnWealth
      @WattsOnWealth Рік тому

      I'm glad you found it helpful, Brad. Best wishes to you!!

  • @Bokgat
    @Bokgat Рік тому

    That’s what I did but only from 1 year out to 5 years on fixed deposit (FD) . USD denominated for non Americans in bonds or money market or bonds is a minimum of 250k and I’m not about to put that amount with any issuer government or corporate bond. Diversification is everything here

  • @brandtsibert7012
    @brandtsibert7012 Рік тому

    The problem is you are not taking inflation into account

    • @JBarryWatts
      @JBarryWatts Рік тому

      Thanks Brandt for watching and for your feedback. Not sure why you would make that assumption. Annual cost of living adjustments are actually built into every year’s calculation of required retirement income.