Tag: Mobility Technology Industry
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:

Connect with Jim Kruzan: 

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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Making Financial Resolutions Stick (Ep. 34)

Making Financial Resolutions Stick (Ep. 34)

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Starting the year with financial resolutions is common, but making them stick is the real challenge. 

How can you ensure your goals turn into lasting habits?

In this episode, Jim Kruzan, CFP®, CRPC®, explores strategies to set realistic financial resolutions and sustain them. He provides actionable insights on how to turn resolutions into habits, prioritize effectively, and build accountability systems for long-term success.

Jim discusses:

  • Setting SMART (Specific, Measurable, Achievable, Relevant, Time-Bound) financial goals for lasting success
  • How reflection on past achievements and failures can shape better goals
  • The importance of accountability partners and incremental progress in achieving resolutions
  • Strategies to manage competing priorities and select high-impact financial goals
  • Practical examples like saving for retirement, reducing debt, and establishing emergency funds
  • And more!

Resources:

Connect with Jim Kruzan: 

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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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Strategies for Investors as Trump Begins His Second Term (Ep.32)

Strategies for Investors as Trump Begins His Second Term (Ep.32)

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How have markets historically reacted to a change in U.S. presidency, and what can you do to safeguard your future investments?  

With Donald Trump’s return to the White House, understanding the market dynamics and economic policies becomes critical—let’s delve into what this means for your financial strategy.

As markets show mixed reactions to the news of Trump’s re-election, it’s crucial to explore what these changes mean for both your investments and the economy at large. Throughout this episode, we delve into historical patterns, current market trends, and outline key strategies to help you prepare for potential shifts. 

Key conversations include:

  • Historical analysis of how markets react to shifts in presidential power provides foundational knowledge for investors
  • Understanding sector-specific impacts on energy, defense, and technology
  • Inflation, interest rates, and tariffs being critical economic factors; understanding their implications to adjust your strategy accordingly
  • Retaining flexibility in your investment strategy, prioritizing diversification, and staying informed to align with evolving market conditions

Resources:

Connect with Jim Kruzan: 

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Beyond The Numbers – Transitioning Into Retirement with Dr. Jacquelyn B. James (Ep. 28)

Beyond The Numbers – Transitioning Into Retirement with Dr. Jacquelyn B. James (Ep. 28)

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Have you ever wondered what it truly takes to be happy and fulfilled in retirement beyond just having a solid financial plan?

Retirement isn’t just about financial stability – it’s about designing a life that’s fulfilling and joyful.

In this episode, Jim Kruzan, CFP®, CRPC®, sits down with Dr. Jacquelyn B. James, the Founding Director of the Sloan Research Network on Aging & Work to explore the emotional, social, and psychological aspects of retirement that are just as crucial as the financial aspect. 

Tune in as Jackie talks about the importance of emotional and social preparations and the long-lasting impact these factors can have on your overall retirement satisfaction!

Talking points include: 

  • How retirement is more than a one-time financial event; it’s a gradual and complex transition
  • Why it’s important to prepare psychologically for retirement (just as much as it is to prepare financially!)
  • How the emotional and social aspects of retirement require as much planning as the financial aspects
  • The “honeymoon phase” of retirement and how to sustain fulfillment once it fades
  • Maintaining a sense of purpose and finding meaningful activities post-retirement
  • Managing increased time with a spouse and staying connected to support networks
  • And more!

Resources:

Connect with Jim Kruzan: 

Connect with Jacquelyn James:

About Our Guest: 

Dr. Jacquelyn B. James (Jackie) is the founding director of the Sloan Research Network on Aging & Work and past co-director of the Center on Aging & Work at Boston College. She has dedicated her career to studying the intersection of aging, work, and retirement, and she brings a wealth of knowledge on how individuals can prepare psychologically and socially for this significant life transition.

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Top 6 Investment Mistakes To Avoid (Ep. 27)

Top 6 Investment Mistakes To Avoid (Ep. 27)

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Are you making common investment mistakes without even realizing it?

They could end up costing you your dream retirement…

Join Jim Kruzan CFP®, CRPC® as he jumps into the top six investment mistakes that could be sabotaging your financial future. Learn about the essential knowledge and understanding needed before making investment decisions, the consequences of chasing hot markets, the importance of asset location, and the risks of making decisions based on fear or greed.

Jim discusses: 

  • Understanding what you own: The importance of knowing the costs, restrictions, and tax implications associated with your investments
  • Chasing trends: Why jumping on meme stocks or hot markets could be detrimental in the long run
  • Fearful investing: Making investment decisions based on fear alone
  • Asset location: How placing investments in the right type of account can have significant tax and performance benefits
  • Understanding your personal wealth cycle: The difference in strategy based on your stage of life
  • Ignoring economic risk: How fear-driven decisions, especially after market downturns, can severely impact long-term wealth creation
  • And more!

Definitions and Resources:

Connect with Jim Kruzan: 

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The Fortified Future: An Inside Look at How Raymond James Helps Protect Your Assets with Jessica Rice (Ep. 26)

The Fortified Future: An Inside Look at How Raymond James Helps Protect Your Assets with Jessica Rice (Ep. 26)

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Did you know that major financial institutions like Raymond James detect and repel around 300 million cyber threats a day?

Join Jim Kruzan CFP®, CRPC®, as he speaks with Jessica Rice,  Business Information Security Lead at Raymond James, to dive into the intricacies of cybersecurity from a corporate perspective. 

With her expertise in liaising between information technology and the private client group, Jessica sheds light on how investment firms safeguard your personal data and financial assets. 

Follow along to gain insights into the latest cybersecurity threats, how Raymond James proactively combats them, and what you can do to protect yourself going forward.

Jim and Jessica discuss: 

  • Understanding the different types of cyber threats in the financial sector
  • How Raymond James identifies and responds to cybersecurity threats
  • The “Cyber Promise” and Raymond James’ commitment to client security
  • The importance of multifactor authentication and strong passwords
  • Real-life examples of helping clients avoid or reobtain significant financial losses
  • And more!

Resources:

Connect with Jessica Rice:

Connect with Jim Kruzan: 

About Our Guest: 

Jessica serves as the Business Information Security Lead for Raymond James’ Private Client Group. She delivers on firm-wide cybersecurity initiatives to socialize best practices and important cybersecurity content in order to help protect associates, advisors, and their clients from falling victim to cyber-attacks. Jessica also acts as a liaison between Information Security and the Private Client Group, focusing on aiding continuous improvement of the firm’s cybersecurity posture. She holds certifications as both a SANS Security Awareness Professional and in GIAC Critical Security Controls. Jessica graduated from the University of Connecticut School of Business with her bachelor’s degree in Marketing. Hailing from Connecticut, in her free time Jessica enjoys traveling to New England to visit family & friends, and relaxing by the beach.

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Navigating Retirement Healthcare Pre and Post-Medicare with Darren Brennan, CFP®, CRPC® (Ep. 25)

Navigating Retirement Healthcare Pre and Post-Medicare with Darren Brennan, CFP®, CRPC® (Ep. 25)

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Did you know that today, a couple aged 65 is expected to spend about $315,000 on healthcare costs throughout retirement?

That is a lot of money! Have you taken the time to plan for these expenses? 

This week on The Retirement Engineer, Jim Kruzan is joined by Darren Brennan, Certified Financial Planner and Chartered Retirement Planning Counselor at Kaydan Wealth Management to unravel the complexities of planning for healthcare costs in retirement.

Jim and Darren’s conversation covers the critical considerations surrounding Medicare, COBRA insurance, and other healthcare funding strategies as you approach this pivotal phase of life. 

So, tune in and discover what it takes to create a robust financial plan that accounts for healthcare expenses, allowing you to enjoy your golden years with less stress.

Episode talking points include: 

  • Strategies for managing healthcare costs before and after qualifying for Medicare
  • The role of COBRA insurance and how it could fit into your retirement planning
  • Innovative funding strategies, including Health Savings Accounts (HSAs) and Roth IRAs, to cover healthcare gaps
  • The importance of planning for long-term care and the different options available 
  • And more!

Resources:

Connect with Jim Kruzan: 

Connect with Darren Brennan:

About our Guest: 

Darren Brennan is a CFP®, CRPC® at Kaydan Wealth Management, responsible for delivering the full spectrum of wealth management to clients. He is a key member of Kaydan Wealth Management’s Investment Policy Committee. Darren also supports the Senior Wealth Advisor with the creation and maintenance of client financial plans.

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Navigating the Waters of Required Minimum Distributions (RMDs) with Dylan Stewart (Ep. 24)

Navigating the Waters of Required Minimum Distributions (RMDs) with Dylan Stewart (Ep. 24)

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Need clarity around required minimum distributions (RMDs) and their impact on your retirement cash flow?

This week, Jim Kruzan, CFP®, CRPC®, is joined by Dylan Stewart, CFP®, CPA, Wealth Advisor at Kaydan Wealth Management, to unpack the intricacies of RMDs and their critical role in retirement planning.

Learn about the mechanics, tax planning aspects, long-term financial strategies, and implications of RMDs and how they can influence your financial landscape. 

Whether you’re approaching retirement or are already navigating your golden years, this conversation is packed with knowledge to steer you clear of making common mistakes!

Jim and Dylan discuss: 

  • What are RMDs, and who do they impact
  • Common problems or mistakes people make with RMDs
  • Strategies for managing RMDs to alleviate potential tax burdens
  • The impact of RMDs on Social Security and Medicare premiums
  • The mechanics of calculating RMDs and how it can change over time
  • Innovative ways to utilize RMDs for charitable giving, education funding, or as a strategic legacy plan
  • And more!

Resources:

Connect with Jim Kruzan: 

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.

“I love helping clients feel safe and secure by helping them achieve their financial goals and dreams.”

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10 IRA Mistakes to Avoid (Ep. 23)

10 IRA Mistakes to Avoid (Ep. 23)

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Are you making the most of your IRAs to secure a bigger, bolder retirement? 

In this installment of The Retirement Engineer, Jim Kruzan CFP®, CRPC® dives into the world of Individual Retirement Accounts (IRAs), uncovering the most common pitfalls that could derail your retirement savings. 

From the evolution of IRAs to innovative strategies for maximizing your retirement nest egg, this episode is packed with real-life stories and insights. Whether you’re an early career professional or nearing retirement, follow along to explore the crucial IRA choices and mistakes to avoid, to get you on the right track. 

The 10 mistakes Jim discusses are: 

  • Misunderstanding IRA Types and Contribution Strategies
  • Procrastination and Last-Minute Contributions
  • Neglecting Spousal Contributions
  • Not Maximizing Catch-up Contributions
  • Required Minimum Distributions (RMDs) Mismanagement
  • Early Withdrawal Penalties and Exceptions
  • Mismanaging Nondeductible Contributions and Backdoor Roth IRAs
  • Ignoring Later-Life Contributions
  • Rollover Pitfalls
  • Failing to Update Beneficiaries and Ignoring Inheritance Rules

Resources:

Connect with Jim Kruzan: 

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