What are the clear signs it’s time to stop DIYing your retirement planning?
Here are the five indicators that call for professional guidance.
Jim Kruzan, CFP®, CRPC®, unravels the complexities of retirement planning. With his wealth of experience, he explores when it’s best to transition from self-management to professional advice.
This episode offers universal insights for anyone considering a DIY approach to retirement planning.
Key discussion points include:
The complexities of growing income and savings [00:01:21]
The challenge of managing time as life grows busier [00:04:09]
Emotional influences on financial decisions [00:08:32]
Understanding the unknown pitfalls in planning [00:12:27]
The value of getting professional help as you approach retirement [00:16:14]
What do tariffs mean for your retirement savings and investments? Is it still okay to retire right now?
In this episode, Jim Kruzan, CFP®, CRPC®, tackles the often-overlooked world of tariffs and their unexpected impact on your financial future. Whether you’re decades away from retirement or just around the corner, understanding these global financial levers can be crucial.
Key conversations in this release include:
What tariffs are and why governments use them [00:01:39]
The historical and economic implications of tariffs, from paperclips to major industries [00:05:17]
How tariffs affect market volatility and retirement planning [00:13:14]
Real-world examples of tariffs’ ripple effects on local economies [00:24:37]
Strategies for retirees and pre-retirees to navigate these turbulent waters [00:24:51]
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
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.
Divorce can be a financial earthquake, especially when it comes to retirement planning.
The emotional toll is high, but the financial stakes are even higher—splitting assets like 401(k)s, pensions, and real estate can leave your retirement plans hanging in the balance. With divorce rates continuing to climb, knowing how to navigate these turbulent waters is essential.
Jim Kruzan, CFP®, CRPC®, Senior Wealth Advisor at Kaydan Wealth Management, teams up with Julia Black, a top family law attorney, to unpack the critical steps you need to take to helpprotect your financial future.
From navigating prenuptial and postnuptial agreements to understanding how recent changes in alimony laws impact your tax situation, this conversation covers the key strategies that will help you avoid common financial pitfalls during divorce.
Key Highlights:
Divorce’s Impact on Retirement: Divorce often means splitting assets, like 401(k)s and pensions, which can disrupt your retirement plans and cash flow.
Prenups and Postnups: Julia explains how these agreements can protect your assets and why postnuptial agreements may not always hold up in court.
Commingling Assets: Mixing inherited or pre-marital assets with marital property can lead to costly complications. Learn how to keep assets separate to protect them during divorce.
Qualified Domestic Relations Orders (QDROs): Find out how to properly divide retirement accounts, like 401(k)s, using a QDRO, and why federal compliance is essential.
Alimony After 2018: The new tax laws have shifted how alimony is structured, making it more important than ever to help ensure your financial independence after a divorce.
Social Security Benefits: Julia shares tips on how to leverage your ex-spouse’s Social Security benefits to boost your retirement income if you meet the eligibility requirements.
Avoiding Common Divorce Mistakes: Avoid missteps like commingling assets or locking into non-modifiable alimony agreements, which can lead to long-term financial stress.
Julia grew up in Oakland County and has always served clients in Genesee County and throughout Michigan. She graduated with honors from the University of Michigan, double majoring in economics and psychology, before earning her law degree from the University of Iowa, where she also completed a master’s in business specializing in industrial and labor relations.
Julia was a partner at a law firm in Flint Township before founding J. Black & Associates in 2004. For the past 20 years, her firm has focused on domestic relations law and civil litigation, particularly for small businesses. Julia is widely recognized for her work on qualified domestic relations orders, assisting clients and other lawyers with the division of retirement funds.
She has been recognized in Super Lawyers Magazine for the past eight years, placing her among the top 5% of lawyers in Michigan. Julia’s extensive experience in domestic relations law makes her the ideal guest to explore today’s topic on the impact of divorce on retirement plans.
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Please note, the content in this episode is for informational purposes only and should not be considered legal, financial, or tax advice. While we strive to provide accurate and up-to-date information, this episode does not substitute for personalized guidance. We recommend consulting a qualified professional for advice regarding your individual circumstances. Neither the podcast hosts nor our guest today are liable for any actions taken based on this information. Listening to this episode does not establish an attorney-client relationship with our guest or any law firm.
What if you could save for both your child’s education and your retirement — without feeling torn?
Join us for this episode of The Retirement Engineer as Jim Kruzan, CFP®, CRPC®, Senior Wealth Advisor and Founder of Kaydan Wealth Management, along with Darren Brennan, Wealth Manager and CFP®, break down the strategies you need to successfully balance these competing financial priorities.
Learn how you can prioritize retirement while still setting aside funds for your child’s education without jeopardizing your financial future.
Key Highlights:
The Cost of College vs. Retirement: With college costs rising 9% annually — far outpacing inflation — strategic planning is more essential than ever
Prioritize Retirement First: Discover why planning your retirement is vital before focusing on college savings, and how tools like Roth IRAs can serve both goals
Smart Savings Tactics: Explore the 50-30-20 rule and the benefits of 529 plans, which allow family members to contribute
Family Conversations: Learn how to discuss financial expectations with your kids, ensuring they contribute and understand the value of education
Scholarships and Financial Aid: Find out how scholarships, FAFSA, and financial aid can ease the burden, along with budget-friendly alternatives like community colleges and work-study programs
Darren Brennan, CFP®, CRPC® is responsible for delivering the full spectrum of wealth management to our clients. Darren is a key member of Kaydan Wealth Management’s Investment Policy Committee and also supports the Senior Wealth Advisor with the creation and maintenance of client’s financial plans.
“My goal is to help our clients build and preserve their wealth. I want them to feel confident in the work we do for them so they can enjoy their retirement.”
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
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.”
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
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
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
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
