The Retirement Bullpen with Richard Warner

Richard Warner discusses pranks, including a famous one pulled on QB Shedeur Sanders, and then transition to how susceptible people can be to scams. Richard explains how one scammer posed as a U.S. Marshal and took someone he knew for a lot of money. Richard shares things to look out for and the likely official ways that entities will communicate with people. Richard also shares how an advisor ...

Richard Warner talks about how annuities have gotten a bad name and how different kinds of annuities have become a lot more beneficial in recent years. Richard also explains how qualified and non-qualified money fit into different annuities and how people need to make plans with this in mind, so their tax burden is not too high. And Richard discusses his favorite MLB relievers over time.

Richard Warner discusses the different facets of tax strategizing. Richard explains how tax prep season may be in the first of the year, but that setting up strategies that increase tax efficiency should be on people’s minds all the time. Richard also shares the pitfalls of waiting to get tax-compliant until late in the year and how the future generation can be left with a “tax bomb...

Richard Warner talks about a touchy subject: legacy planning. Richard shares four things people need to consider when trying to have things told their way, post-mortem: misjudging how much money they will have left, updating their beneficiaries, the tax consequences to their beneficiaries, and where they want to place charitable donations. Richard unpacks each subject and discusses how a financ...

Richard Warner discusses Gene Hackman’s and his wife’s deaths and how those are reminders of the importance of long-term care. Richard discusses the importance of setting up check-ins with people and getting a plan in place before one’s health fails. Then Richard shares what qualifies as long-term care, the trickiness of long-term care insurance, and ways to pay for long-term ...

Richard Warner gives the ins and outs on Roth IRAs. Richard defines what they are, whether or not they have contribution limits, and why paying taxes now is better than in the future. Richard explains how conversions to Roths from 401(k)s or IRAs work and the importance of having an advisor to walk someone through what can be a tricky process. Richard also warns about penalties if someone takes...

Richard Warner discusses RMDs and explains what they are, the types of accounts to which they apply, the ages retirees have to take them, and how much money people have to withdraw. Richard also shares how some people have no idea that they eventually have to withdraw from certain retirement accounts and that they have to pay taxes. Richard also talks about how the baseball team he coaches prac...

Richard Warner discusses budgeting for the lifestyle one seeks in their retirement years. Richard lays out the importance of planning for a long term relationship both with an advisor and one’s own plan, so all factors in planning get checked on constantly. Richard talks about factors that people should consider, including their levels of activity and travel and a few things that people often forget in this discussion. Richar...

Richard Warner discusses the complicated topic of planning a healthcare budget in retirement. Richard discusses how Warner Financial Solutions is unique in its attention to healthcare planning. He explains the different options to consider, the high cost of long term care, and how Medicare premiums can vary. Richard also talks about the importance of having an experienced survivor help navigate this, because each person’s nee...

Richard Warner talks about conversations on budgeting that Richard says most people wish they could avoid. Richard explains how most people have a good feel for the money they need, but cannot grasp the science of arriving at the exact numbers. He explains the rule of thumb that he and the Warner Financial Solutions team use in budgeting and the unexpected cost decreases that retirement brings. But Richard also breaks down the cost...

Richard Warner discusses retiring at the right time and having enough funds to do so. Richard walks listeners through some important questions that he and the Warner Financial Solutions team ask: What do you want out of retirement? How much do you have? How much will you get? How long do you want it to last? Richard also explains how fear can steer people in the wrong direction in this planning process.

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Richard Warner discusses the differences between qualified and non-qualified money. Richard breaks down the pros and cons of both types and why a retiree needs to have the right blend of both. Richard also discusses the tax implications in each category and how each person's situation is different and warrants a unique strategy with both types of accounts. Richard also has a laugh at a standup comedy bit on spreadsheets.

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Richard Warner defines what a 401(k) is and even how it got its name. Richard discusses the tax benefits in the short term, the age in which people can draw from the account without penalties, and different ways 401(k) providers can adjust the amount of risk in those accounts. Richard also reveals how he has been able to avoid both cooking and doing dishes during the holidays.

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Richard Warner discusses the main changes Medicare users encounter in the Open Enrollment season – Part C and Part D – and the changes in cost people can potentially experience. Richard also explains why people should never take advice or buy something on the phone about Medicare from someone they do not know. Richard also talks fall baseball and laments his home baseball teams.

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In this episode of the Retirement Bullpen, Richard Warner discusses the importance of having a flexible and personalized approach to retirement planning. He emphasizes the need for a solid investment strategy that can withstand market fluctuations, particularly during uncertain times such as elections and interest rate changes. Richard advises against making impulsive financial decisions based on current events and stresses the imp...

This week on the Retirement Bullpen, Richard Warner discusses the intricacies of retirement planning, focusing on the importance of preparing for unexpected expenses and the financial implications of emergencies. He emphasizes the need for a proactive approach to financial planning, including the establishment of emergency funds and understanding the impact of taxes on retirement income. The conversation highlights the emotional as...

In this conversation, Richard Warner discusses the importance of healthcare in retirement and explore various options for obtaining coverage before reaching Medicare age. He highlights the need to consider healthcare as part of the retirement planning process and emphasize the importance of seeking advice from a financial advisor. The conversation also touches on the idea of finding a job with healthcare benefits or creating a semi...

In this episode, Richard Warner discusses the advice given by Dave Ramsey regarding taking Social Security early and investing it in mutual funds. He explores the factors that need to be considered when making this decision, such as risk tolerance, income from other sources, and debt levels. Richard also addresses the concern of Social Security running out and the importance of seeking expert advice to make an informed decision. Th...