In this episode of Watts on Wealth Radio, Barry Watts and Ralph Hip delve into the impact of taxes on retirement savings and the importance of understanding tax structures. Barry highlights the history of taxation, from the introduction of income tax in 1913 to today’s inheritance limit. He explains ordinary income tax versus capital gains tax, offering insights into tax-efficient strategies. The discussion also includes Medicare enrollment, which ends December 7, along with the importance of long-term care planning. Barry explores the benefits of health savings accounts (HSAs) and life insurance retirement plans (LIRPs) to help secure a stable financial future.

Get Watts On Wealth the Book: https://a.co/d/bETW4aY

Website: https://wealthcarecorp.com/

Facebook: https://www.facebook.com/WealthCareCorp

YouTube: https://www.youtube.com/@WattsOnWealth

Be sure to listen to Watts on Wealth with Barry Watts every Sunday at 8:30am on Springfield’s Talk 104.1 FM

- 036. Medicare -

“Thank you for Listening” - J. Barry Watts

#JBarryWatts #RetirementPlanning #inflation

#TruthAboutTaxesAndRetirement #WealthCareCorporation #SavingYouTaxes #Springfield #MO #Missouri #Retirement #RetirementStrategy #tax #taxes #WealthCareCorp #WattsOnWealth #watts #barrywatts

In this episode of Watts on Wealth Radio, Barry Watts and Ralph Hip explore the financial challenges younger Americans face in retirement planning. With a CNBC survey showing 82% of young Americans believe retirement is harder to achieve than it was for their parents, Barry emphasizes the importance of strategic tax planning and professional guidance. He highlights the impact of student loan debt on savings and the value of diversifying tax buckets with tools like Roth conversions. Barry also offers a free book and consultations to help listeners take control of their retirement journey.

Get Watts On Wealth the Book: https://a.co/d/bETW4aY

Website: https://wealthcarecorp.com/

Facebook: https://www.facebook.com/WealthCareCorp

YouTube: https://www.youtube.com/@WattsOnWealth

Be sure to listen to Watts on Wealth with Barry Watts every Sunday at 8:30am on Springfield’s Talk 104.1 FM

- 035. Taxes in Retirement -

“Thank you for Listening” - J. Barry Watts

#JBarryWatts #RetirementPlanning #inflation

#TruthAboutTaxesAndRetirement #WealthCareCorporation #SavingYouTaxes #Springfield #MO #Missouri #Retirement #RetirementStrategy #tax #taxes #WealthCareCorp #WattsOnWealth #watts #barrywatts

In this episode of Watts on Wealth Radio, Barry Watts and Ralph Hip explore significant upcoming changes to Medicare in 2025, introduced by the Inflation Reduction Act of 2022. Key updates include a $35/month cap on insulin costs, no out-of-pocket costs for recommended vaccines, expanded financial assistance for Part D Extra Help, and a new $2,000 annual out-of-pocket cap for Part D. Barry discusses the importance of understanding these changes and highlights common retirement risks, such as outliving savings and the need for long-term care planning. He encourages listeners to seek expert guidance to secure their retirement amid these evolving complexities.

Get Watts On Wealth the Book: https://a.co/d/bETW4aY

Website: https://wealthcarecorp.com/

Facebook: https://www.facebook.com/WealthCareCorp

YouTube: https://www.youtube.com/@WattsOnWealth

Be sure to listen to Watts on Wealth with Barry Watts every Sunday at 8:30am on Springfield’s Talk 104.1 FM

- 034. Medicare & Retirement Risk -

“Thank you for Listening” - J. Barry Watts

#JBarryWatts #RetirementPlanning #inflation

#TruthAboutTaxesAndRetirement #WealthCareCorporation #SavingYouTaxes #Springfield #MO #Missouri #Retirement #RetirementStrategy #tax #taxes #WealthCareCorp #WattsOnWealth #watts #barrywatts

In this episode of Watts on Wealth Radio, Barry Watts and Ralph Hip examine the recent interest rate cuts by the Federal Reserve and their effects on retirees and the economy. With rates lowered by half a point to counter recession risks and control inflation, Barry highlights the need for a diversified portfolio with protected principal investments to navigate market fluctuations. He also addresses the potential impact of reduced interest rates on retirees’ income and the possibility of tax increases in 2026 if the 2017 tax cuts expire. Barry advises listeners to prepare by seeking professional financial guidance.

Get Watts On Wealth the Book: https://a.co/d/bETW4aY

Website: https://wealthcarecorp.com/

Facebook: https://www.facebook.com/WealthCareCorp

YouTube: https://www.youtube.com/@WattsOnWealth

Be sure to listen to Watts on Wealth with Barry Watts every Sunday at 8:30am on Springfield’s Talk 104.1 FM

- 033. Taking Control of your Retirement -

“Thank you for Listening” - J. Barry Watts

#JBarryWatts #RetirementPlanning #inflation

#TruthAboutTaxesAndRetirement #WealthCareCorporation #SavingYouTaxes #Springfield #MO #Missouri #Retirement #RetirementStrategy #tax #taxes #WealthCareCorp #WattsOnWealth #watts #barrywatts

Barry Watts and Ralph Hipp discuss financial regrets, particularly in retirement, and strategies to avoid them. A survey by Bankrate revealed that 77% of retirees have financial regrets, with 22% regretting not saving early enough and 18% not saving enough for emergencies. Barry emphasizes the importance of planning and education, offering his six steps to retirement confidence. He advises on tax strategies, including converting traditional IRAs to ROTHs while taxes are low, and creating a retirement income plan. Barry also addresses concerns about long-term care, estate planning, and business succession, stressing the need for proactive financial planning.

Get Watts On Wealth the Book: https://a.co/d/bETW4aY

Website: https://wealthcarecorp.com/

Facebook: https://www.facebook.com/WealthCareCorp

YouTube: https://www.youtube.com/@WattsOnWealth

Be sure to listen to Watts on Wealth with Barry Watts every Sunday at 8:30am on Springfield’s Talk 104.1 FM

- 032. 401k's and Mailbag Questions -

“Thank you for Listening” - J. Barry Watts

#JBarryWatts #RetirementPlanning #inflation

#TruthAboutTaxesAndRetirement #WealthCareCorporation #SavingYouTaxes #Springfield #MO #Missouri #Retirement #RetirementStrategy #tax #taxes #WealthCareCorp #WattsOnWealth #watts #barrywatts

In this episode of Watts on Wealth Radio, Barry Watts examines the significant impact of taxes on retirement, underscoring the necessity of comprehensive tax planning. He discusses the anticipated $90 trillion wealth transfer to the millennial generation, urging them to prepare for this financial influx. Barry also addresses the recent bankruptcy of Yellow Freight, which has $6.5 billion in pension obligations, advising affected employees to consider lump-sum cash buyouts. He outlines the three stages of retirement—go-go, slow-go, and no-go years—and emphasizes the importance of long-term care planning and effective estate management. Barry encourages regular reviews of retirement plans to ensure they remain relevant and responsive to changing financial landscapes.

Get Watts On Wealth the Book: https://a.co/d/bETW4aY

Website: https://wealthcarecorp.com/

Facebook: https://www.facebook.com/WealthCareCorp

YouTube: https://www.youtube.com/@WattsOnWealth

Be sure to listen to Watts on Wealth with Barry Watts every Sunday at 8:30am on Springfield’s Talk 104.1 FM

- 031. Three Stages of Retirement -

“Thank you for Listening” - J. Barry Watts

In this episode of Watts on Wealth Radio, Barry Watts and Ralph Hip explore the impact of market volatility on retirement plans and the importance of managing risk. They discuss the key provisions of the Secure Act 2.0, including penalty-free emergency withdrawals up to $1,000 and delayed required minimum distributions until age 75. Barry highlights the need for a comprehensive retirement income plan, covering tax strategies, investment advice, and preparation for healthcare and travel expenses. The episode also introduces Barry's new book, What’s on Wealth, filled with detailed retirement planning tips.

Get Watts On Wealth the Book: https://a.co/d/bETW4aY

Website: https://wealthcarecorp.com/

Facebook: https://www.facebook.com/WealthCareCorp

YouTube: https://www.youtube.com/@WattsOnWealth

Be sure to listen to Watts on Wealth with Barry Watts every Sunday at 8:30am on Springfield’s Talk 104.1 FM

- 030. Secure Act 2.0 -

“Thank you for Listening” - J. Barry Watts

On this episode of Watts on Wealth Radio, financial expert Barry Watts addresses the growing impact of baby boomer retirements, with over 4 million people turning 65 annually through 2027. Barry discusses the strain this aging population places on Social Security and healthcare services, highlighting the importance of retirement planning. He explains how annuities can provide security and guaranteed income, detailing the different types, including immediate, investment, variable, fixed, and fixed indexed annuities. Barry also emphasizes the need for a holistic retirement plan that includes income, tax, long-term care, and estate planning. The show wraps up with practical advice on co-signing college loans and the value of seeking a second opinion in retirement planning.

Get Watts On Wealth the Book: https://a.co/d/bETW4aY

Website: https://wealthcarecorp.com/

Facebook: https://www.facebook.com/WealthCareCorp

YouTube: https://www.youtube.com/@WattsOnWealth

Video Reference: What I Learned About Retirement by Falling Off the Boat Dock

Be sure to listen to Watts on Wealth with Barry Watts every Sunday at 8:30am on Springfield’s Talk 104.1 FM

- 029. All About Annuities -

“Thank you for Listening” - J. Barry Watts

#JBarryWatts #RetirementPlanning #inflation

#TruthAboutTaxesAndRetirement #WealthCareCorporation #SavingYouTaxes #Springfield #MO #Missouri #Retirement #RetirementStrategy #tax #taxes #WealthCareCorp #WattsOnWealth #watts #barrywatts