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Your Biggest Lifetime Expense? Taxes. Here’s How to Pay Less and Save More with Dylan Stewart, CFP®, CPA (Ep. 35)

Your Biggest Lifetime Expense? Taxes. Here’s How to Pay Less and Save More with Dylan Stewart, CFP®, CPA (Ep. 35)

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How does your savings strategy impact your financial future, particularly with tax season looming and new contribution limits set for 2025?

Jim KruzanCFP®, CRPC® and guest Dylan Stewart, a Certified Financial Planner™ and Certified Public Accountant, unravel the concept of tax-efficient waterfall funding—an approach crafted to maximize your savings efficiency while minimizing tax burdens. Together, they provide insights into how this process not only benefits savers but also retirees by reversing strategies to efficiently tap into accumulated funds.

Key episode discussions include:

  • The essentials of a tax-efficient waterfall strategy and its impact on your financial health
  • High-priority saving tactics, including emergency funds, employer 401(k) matches, and high-interest debt management
  • Medium-priority savings options like Health Savings Accounts (HSAs) and how they can be leveraged for medical expenses
  • Low-priority contributions such as education savings plans and considerations for low-interest debt
  • Strategies to handle retirement withdrawals and manage tax efficiencies proficiently
  • And more!

Resources:

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Connect With Dylan Stewart:

About our Guest: 

Dylan Stewart, CFP®, CPA, serves as a Wealth Advisor at Kaydan Wealth Management, offering comprehensive wealth management and guiding clients through the Evolutionary Wealth Process. As a member of the Investment Policy Committee and collaborator with Senior Wealth Advisors, he plays a pivotal role in shaping and maintaining client financial strategies.

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The Most Impactful #BiggerBolderRetirement Discussions of the Year (Ep.33)

The Most Impactful #BiggerBolderRetirement Discussions of the Year (Ep.33)

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It’s time to reflect on the invaluable insights from the very best episodes throughout the year, featuring top experts who simplify financial complexities and share actionable strategies.

Join Jim Kruzan as he delves into unforgettable conversations and key takeaways from guests like Becky Eisen on aging with dignity, Dr. Jacqueline B. James on life well-lived beyond retirement, and cybersecurity expert Jeff Lanza on safeguarding your assets in the digital age.

Key conversations include:

  • The early signs of aging and plan with informed decision-making for long-term care
  • Rediscover retirement not just by numbers but as a joyous, redefined life stage with insights from Dr. Jacqueline B. James
  • Safeguarding your wealth from cyber threats with strategies from Jeff Lanza and Jessica Rice
  • Prenups and Postnups: Julia Black’s explanation about how these agreements can protect your assets + why postnuptial agreements may not always hold up in court

Resources:

 

Connect with Jim Kruzan: 

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Podcast Image showing the title "Milestone Moments: Navigating 7 Key Ages in Retirement Planning (Episode 17)"
Milestone Moments: Navigating 7 Key Ages in Retirement Planning (Ep. 17)

Milestone Moments: Navigating 7 Key Ages in Retirement Planning (Ep. 17)

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Between 50 and 72, there are significant birthdays that can impact your retirement finances.

These age-based milestones can help you grow your retirement nest egg, avoid financial penalties, withdraw your retirement funds early, and more!

In this episode, Jim Kruzan, CFP®, CRPC®, highlights seven legislative birthdays that every retiree or soon-to-be retiree should circle on their calendars. By the episode’s end, you’ll realize why planning your retirement cash flows is crucial before these milestones creep up on you!

Jim discusses:

  • Benefits of turning 50, including catch-up contributions and early retirement for qualified public safety workers.
  • How to make penalty-free withdrawals at 55 and 59.5 (from eligible plans)
  • The difference between taking Social Security at 62, 70, and anywhere in between 
  • Medicare’s 7-month enrollment window to avoid penalties
  • The impact of Secure Act 2.0 on the required minimum distribution age
  • And more

Resources:

Connect with Jim Kruzan: 

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Podcast Image showing the title "Medicare 101: The Ultimate Guide (Episode 16)"
Medicare 101: The Ultimate Guide (Ep. 16)

Medicare 101: The Ultimate Guide (Ep. 16)

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Imagine a retirement where you’re free from the fear of rising, and sometimes unexpected, medical bills.

In a world of ever-rising healthcare costs, a solid understanding of Medicare is a necessity!

In this episode, Jim Kruzan, CFP®, CRPC®, unravels the intricacies of Medicare and paves the path for a more simplified Medicare experience. Whether you’re a decade away from retirement or just around the corner, you’ll learn actionable insights to save stress, time, and money.

Jim discusses:

  • The difference between Medicare and Medicaid
  • Core components of Medicare (parts A, B, C, and D)
  • How the ‘Donut’ hole may unexpectedly increase your prescription drug costs
  • Important enrollment deadlines to avoid hefty penalties
  • The financial impact of Medicare on your retirement plan
  • And more

Resources:

Connect with Jim Kruzan: 

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Getting Your Retirement Back On Track (Ep. 15)

Getting Your Retirement Back On Track (Ep. 15)

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Picture this: You’ve crafted the perfect retirement plan. You’ve dreamt about it, and it’s finally here. But then, life throws you a curveball. Suddenly, your well-laid path takes an unexpected detour!

Even the most carefully crafted plans must adapt to changing circumstances.

In this episode, Jim Kruzan, CFP®, CRPC®, shares practical strategies to get your retirement back on track.

Jim discusses:

  • Signs that your retirement may be off track
  • Budgeting strategies to cut unnecessary expenses without sacrificing quality of life
  • How “safe withdrawal rates” can guide portfolio adjustments
  • How to weather market downturns by using debt strategically
  • And more

Resources:

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Top 5 Social Security Filing Mistakes to Avoid (Ep. 14)

Top 5 Social Security Filing Mistakes to Avoid (Ep. 14)

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“When should I start taking Social Security?”

“Can I claim spousal benefits? If yes, how much?”

“How will my Social Security income be taxed?”

These are some of the questions that many retirees (and soon-to-be retirees) struggle with!

In this eye-opening episode, Jim Kruzan, CFP®, CRPC®, explains the top five Social Security filing mistakes to avoid and how to make well-informed decisions that can potentially make or break your retirement!

Jim discusses:

  • Benefits of delaying Social Security until age 70 (and what happens if you file early)
  • Eligibility criteria for spousal benefits and the ideal time to claim them
  • The “earnings test” you should know about before filing for Social Security
  • How to maximize survivor benefits
  • How to minimize the potential tax burden on Social Security
  • And more

Resources:

Connect with Jim Kruzan: 

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Podcast Image showing the title "7 Common Retirement Planning Mistakes (And How To Avoid Them) (Ep. 13)"
7 Common Retirement Planning Mistakes (And How To Avoid Them) (Ep. 13)

7 Common Retirement Planning Mistakes (And How To Avoid Them) (Ep. 13)

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Do you know what makes or breaks your retirement?

The assumptions and financial choices that might seem trivial at first, but have a significant impact later down the road!

In this episode, Jim Kruzan, CFP®, CRPC®, highlights 7 common retirement planning mistakes, drawing on decades of experience as a financial advisor. He also shares actionable ideas to avoid those mistakes.

Jim discusses:

  • How to budget for retirement without giving up the little joys in life
  • Why you should never underestimate healthcare costs
  • Considerations for pension planning, including age, health, and spousal benefits
  • The “set it and forget it” mentality that can potentially jeopardize your retirement
  • The importance of seeking professional financial guidance
  • And more

Resources:

Connect with Jim Kruzan: 

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Podcast Image showing the title "How Much Money Do You Need To Retire?"
How Much Money Do You Need To Retire? (Ep. 12)

How Much Money Do You Need To Retire? (Ep. 12)

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How can you save for retirement if you don’t know how much money you’ll need?

It’s time to calculate your financial finish line so you don’t run out of money during retirement!

In this episode, Jim Kruzan, CFP®, CRPC®, shares easy-to-follow methods and rules of thumb to estimate your retirement expenses and income — and what to do if you have no idea where to begin.

Jim discusses:

  • Key points to discuss with your spouse about your “dream retirement”
  • Why you should categorize your retirement expenses into needs, wants, and wishes
  • How to account for major lifestyle adjustments and rising healthcare costs
  • Rules of thumb to quickly check if you’re on track
  • And more

Resources:

Connect with Jim Kruzan: 

About Your Host: 

Balancing the responsibilities of Founder and Senior Wealth Advisor puts Jim in a unique position at Kaydan Wealth Management. As the Founder, Jim is responsible for guiding the direction of the firm’s moral compass and ensuring the entire team is advancing its mission statement. As Senior Wealth Advisor, he manages the firm’s largest and most complex client relationships and is also hands-on with the development of comprehensive, process-driven wealth solutions.

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