Your financial planning isn't always about saving more. Sometimes it's knowing when to adjust your savings, plan taxes, and use the accounts you have more strategically.

In this episode of Common Curiosities: Retirement, Michael Custer, CFP®, EA, and CSS™, works through two detailed Reddit questions about finances.

The first looks at a 28 year old living in New York City who is trying to balance high living expenses, retirement savings, and a future home purchase. The second explores parents approaching retirement who want to begin gifting to their children while being thoughtful about taxes, investments, and estate planning.

Topics include:

💭 Reduce your 401(k) contributions to spend more now?

💭 What accounts to prioritize

💭 Roth versus pre tax contributions for someone living in a high tax state

💭 How diversification may go beyond simply owning the S&P 500

💭 Can parents gift cash or investment shares more tax efficiently?

💭 Why gifting appreciated investments may shift the capital gains tax to the recipient

💭 How the step up in basis may affect taxable investments and inherited real estate

💭 Why placing bonds and dividend focused investments in certain account could create unnecessary taxes

💭 Should retirees stop reinvesting dividends?

💭 Roth conversions, Required Minimum Distributions, and the potential tax impact after one spouse passes away

💭 Qualified Charitable Distributions and gifting appreciated investments to charity

💭 Why families should be careful before transferring real estate to children during their lifetime

These questions show why financial planning rarely comes down to one investment or one tax strategy. Income, spending, account types, retirement timing, taxes, gifting goals, and estate planning should all work together.

𝐖𝐡𝐲 𝐰𝐞'𝐫𝐞 𝐡𝐞𝐫𝐞?

We’re here to make retirement planning feel less intimidating by helping people think through their strategies and plans through clear relatable financial topics!

💬 Questions or Want to Connect?

🌐 𝐖𝐞𝐛𝐬𝐢𝐭𝐞: www.custerfinancialadvisors.com

📧 𝐄𝐦𝐚𝐢𝐥: custerfinancialadvisors@lpl.com

Disclosures:

Harborfront Financial Group is a Registered Investment Advisor registered with the Securities and Exchange Commission (SEC). Registration as an investment adviser does not imply a certain level of skill or training, and the content of this communication has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority.

The information contained in this material is intended to provide general information about Harborfront Financial Group and its services. It is not intended to offer investment advice. Investment advice will only be given after a client engages our services by executing the appropriate investment services agreement. Information regarding investment products and services are provided solely to read about our investment philosophy and our strategies. You should not rely on any information provided on our web site in making investment decisions.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Harborfront Financial Group, a Registered Investment Advisor. Harborfront Financial Group and Custer Financial Advisors are separate entities from LPL Financial.

This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing. All investing involves risk including loss of principal. No strategy assures success or protects against loss.

Many people spend decades saving for retirement, but the biggest questions often show up right as retirement begins.

In this episode of Common Curiosities: Retirement, Michael CFP®, EA, CSS™ walks through three retirement planning questions. From deciding whether to use Roth savings later in your career, to evaluating if an annuity fits your fear for a down market, to determining which accounts to spend first in retirement for tax planning purposes. This episode explores practical strategies retirees often wonder about as they transition from saving to spending.

Topics include:

💭 Should you contribute to a Roth 401(k) or a Roth IRA if most of your savings are pre tax?

💭 What annuities may help solve and what questions to think through before purchasing one

💭 Why "market like returns without losses" deserves a closer look

💭 How retirement income planning differs from accumulation

💭 Which accounts retirees often spend first and why withdrawal order matters

💭 How taxes, Medicare premiums, and future RMDs can influence retirement decisions

💭 Strategies for balancing Roth, pre tax, taxable, and cash accounts

Whether you're approaching retirement or already retired, understanding how your accounts can work together may help you make more informed financial decisions!

𝐖𝐡𝐲 𝐰𝐞'𝐫𝐞 𝐡𝐞𝐫𝐞?

We’re here to make retirement planning feel less intimidating by helping people think through their strategies and plans through clear relatable financial topics!

💬 Questions or Want to Connect?

🌐 𝐖𝐞𝐛𝐬𝐢𝐭𝐞: www.custerfinancialadvisors.com

📧 𝐄𝐦𝐚𝐢𝐥: custerfinancialadvisors@lpl.com

Chapters:

00:13 Football Season is Here and Question Overview

03:00 Switch to Roth 401(k) or Roth IRA?

03:13 Tax Diversification Strategies

07:51 Keep Less in My Bank Account Now?

08:51 Annuity a Good Fit For Me?

15:01 What Accounts to Spend First In Retirement?

21:59 Michael's Attempt at Being a Trophy Husband

#RetirementPlanning #RothIRA #Roth401k #RetirementIncome #Annuities #TaxPlanning #RetirementTaxes #financialplanning

Disclosures:

Harborfront Financial Group is a Registered Investment Advisor registered with the Securities and Exchange Commission (SEC). Registration as an investment adviser does not imply a certain level of skill or training, and the content of this communication has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority.

The information contained in this material is intended to provide general information about Harborfront Financial Group and its services. It is not intended to offer investment advice. Investment advice will only be given after a client engages our services by executing the appropriate investment services agreement. Information regarding investment products and services are provided solely to read about our investment philosophy and our strategies. You should not rely on any information provided on our web site in making investment decisions.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Harborfront Financial Group, a Registered Investment Advisor. Harborfront Financial Group and Custer Financial Advisors are separate entities from LPL Financial.

This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing. All investing involves risk including loss of principal. No strategy assures success or protects against loss.

Many people approaching retirement find themselves asking the same question: Do I have enough to retire, or do I need to work a few more years?

In this episode of Common Curiosities: Retirement, Michael CFP®, EA, CSS™ walks through a retirement case study of a couple in their early 60s who hope to retire at age 65. Using retirement planning software, Michael explores how what accounts to use these final years, retirement expenses, Social Security timing, healthcare costs, and tax planning decisions may influence the likelihood of your retirement goals.

Topics include:

💭 Can this couple retire with roughly $700,000 in a few years?

💭 Why healthcare costs can significantly impact retirement plans

💭 How retirement spending assumptions affect success rates

💭 Roth 401(k) versus Traditional 401(k): which may make more sense near retirement?

💭 Why current and future tax brackets matter when deciding between pre-tax and Roth contributions

💭 Why keeping too much cash in the bank may create unintended tax consequences

💭 Understanding Monte Carlo simulations and retirement probability analysis

If you're wondering whether you're on track for retirement, this episode provides a practical look at the tradeoffs between working longer, spending differently, and making more tax-efficient planning decisions.

𝐖𝐡𝐲 𝐰𝐞'𝐫𝐞 𝐡𝐞𝐫𝐞?

We’re here to make retirement planning feel less intimidating by helping people think through their strategies and plans through clear relatable financial topics!

💬 Questions or Want to Connect?

🌐 𝐖𝐞𝐛𝐬𝐢𝐭𝐞: www.custerfinancialadvisors.com

📧 𝐄𝐦𝐚𝐢𝐥: custerfinancialadvisors@lpl.com

Chapters:

00:13 Introduction to Retirement Analysis

01:08 Understanding Financial Position and Goals

03:03 Evaluating Retirement Expenses and Income Needs

03:30 Monte Carlo Simulation and Probability of Success

05:15 Strategies to Improve Retirement Outcomes

08:10 Could Save On Taxes & Reinvest for Final Years?

10:36 Should I Reduce My Checking Account at This Point?

12:46 Final Thoughts and Ideas

#RetirementPlanning #Retirement #FinancialPlanning #TaxPlanning #RothConversion #401k #SocialSecurity #RetirementIncome #CFP #RetireAt65

Disclosures:

Harborfront Financial Group is a Registered Investment Advisor registered with the Securities and Exchange Commission (SEC). Registration as an investment adviser does not imply a certain level of skill or training, and the content of this communication has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority.

The information contained in this material is intended to provide general information about Harborfront Financial Group and its services. It is not intended to offer investment advice. Investment advice will only be given after a client engages our services by executing the appropriate investment services agreement. Information regarding investment products and services are provided solely to read about our investment philosophy and our strategies. You should not rely on any information provided on our web site in making investment decisions.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Harborfront Financial Group, a Registered Investment Advisor. Harborfront Financial Group and Custer Financial Advisors are separate entities from LPL Financial.

This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing. All investing involves risk including loss of principal. No strategy assures success or protects against loss.