Episode 10: "How to Make 2024 Even Better Financially"

In today’s show Tom & Kristin share some tips on how to make 2024 even better financially by shinning the spotlight on Required Minimum Distributions. Tom walks you through the options you have for receiving them as well as shares tips on how to decrease your taxes on them. In the second half of the show, Tom describes 8 of the most common mistakes he sees people make when it comes to retirement and how to avoid them. Finally, we take listener calls and address questions on inherited IRAs. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 How to Make 2024 Even Better Financially 01:26 How to make your RMD’s better in 2024 – Options to receiving them. 01:55 If you were born in 1951 or earlier you must take RMDs this year. 03:54 You can take your RMDs as income flow. 05:07 If you don’t need the money, you can do a ROTH conversion. 06:15 How to decrease your RMD & why? (Taxes brackets will be going up) 07:30 You can take the money and make ROTH Conversions. 14:00 How you can avoid RMD taxes entirely. 27:43 8 Common Retirement mistakes 28:02 Not considering inflation 29:40 Not thinking you’ll live to 90 31:20 Overestimating the amount you’ll need 33:20 Being too conservative or too aggressive in your portfolio 34:06 Forgetting about Health Care costs 35:20 Not factoring real estate costs & not having a retirement plan 38:50 Listener questions Have specific questions for Tom and the team at Mosley Wealth Management? Book a complimentary visit here 👇 https://mosleywealthmanagement.com/contact/ =========================================== If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄, 𝐥𝐢𝐤𝐞, 𝐨𝐫 𝐬𝐡𝐚𝐫𝐞! ==========================================
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#Howtomake2024better #financesin2024 #RequiredMinimumDistributions #RMD #RetirementMistakes #RothConversions #inflation #retirementincome #retirementplanning #investing #financialadvisor #SocialSecurity DISCLOSURE: Investment advisory services offered by duly registered individuals through Mosley Wealth Management, Inc. (“MWM”). MWM and Mosley Insurance and Financial Services are affiliated companies by common ownership. License # 0K76766 Investing involves risk, including the potential loss of principal. Any references to protection, safety, or lifetime income, generally referred to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength claims paying abilities of the issuing carrier. This content is intended for informational & educational purposes only. It is not intended to be used as the sole basis for financial decisions nor should it be construed as advice designed to meet the particular needs of an individual situation. All hypothetical examples are provided for illustrative purposes only; they do not represent real life scenarios. Mosley Insurance & Financial Services nor its agents or representatives may not give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any investment decisions. Our firm is not affiliated with or endorsed by the US government or any governmental agency. Some of the information provided may be from one or more third parties which we believe to be reliable sources, but accuracy and completeness cannot be guaranteed by Mosley Insurance & Financial Services.

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