March 2025 – Ramp Up to Retirement

Preparing for Retirement: Key Challenges and Solutions (Ep. 9)

By Ramp Up to Retirement | March 26, 2025

Are you wondering about the top pitfalls to avoid as you plan for retirement? Why do so many retirees end up facing unexpected financial challenges?

Tune in to this episode, where Dan Reese, host of “Ramp Up To Retirement,” invites Senior Wealth Advisor Brent Oliver to discuss eight critical retirement blunders you should avoid.

Together, they shed light on common mistakes like underestimating the true cost of health care, overlooking future tax liabilities, and relying too heavily on Social Security. Brent emphasizes the importance of flexible planning and proactive tax strategies, sharing insider tips to help ensure a smooth financial journey into retirement. Whether you’re five years away or already retired, there’s something for everyone in this insightful episode.

Dan and Brent discuss:

(04:25) Overestimating regular living expenses
(07:10) Ignoring skyrocketing healthcare costs
(09:56) Misjudging the impact of taxes
(14:28) Retiring sooner than anticipated
(15:33) Supporting loved ones financially
(17:41) Underestimating longevity
(20:09) Counting solely on Social Security
(22:55) Neglecting required minimum distributions
And more

Resources:

Carson Wealth Retirement Readiness Quiz

Connect with Dan Reese CFP®:

Connect with Brent Oliver:

About our Guest:

Brent Oliver is a Senior Wealth Advisor based in Jackson, Michigan, with 11 years of experience in the field. As a CERTIFIED FINANCIAL PLANNER™ professional and Senior Wealth Advisor, Brent helps families identify and work towards achieving their financial goals. His comprehensive approach to wealth management helps families identify where they are today, where they want to be, and what gaps might prevent them from achieving all that is important to them. He has the heart of a teacher and works with clients to ensure they understand why strategies are being employed and how they can help families reach their goals.

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Aligning Tax Planning with Retirement Planning (Ep. 8)

By Ramp Up To Retirement | March 11, 2025

What can a well-thought-out tax strategy do for your retirement?

In this episode, Dan Reese delves into the crucial topic of tax planning, a subject that can significantly impact your financial future. Dan guides listeners through key strategies to help optimize tax outcomes, from tax loss harvesting to the advantages of 529 plans and health savings accounts. He sheds light on Roth conversions and charitable giving, offering practical advice for effective tax management. Dan brings clarity to complex topics, ensuring listeners are well-prepared for tax season and beyond.

Dan discusses:

(04:00) Tax loss harvesting and its benefits
(07:20) The role of 529 plans in education savings
(11:28) Health savings accounts (HSAs) and flexible spending accounts (FSAs)
(16:23) Understanding Roth conversions for retirement savings
(19:29) Charitable giving strategies and qualified charitable distributions
And more

Resources:

Connect with Dan Reese CFP®:

Disclosures:

Investors should also consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 Plan. Any state-based benefit should be one of many appropriately weighted factors in making an investment decision. The investor should consult their financial or tax advisor before investment in any state’s 529 Plan.

Converting from a traditional IRA to a Roth IRA is a taxable event.

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