Retire With Ryan Podcast Por Ryan R Morrissey arte de portada

Retire With Ryan

Retire With Ryan

De: Ryan R Morrissey
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If you're 55 and older and thinking about retirement, then this is the only retirement podcast you need. From tax planning to managing your investment portfolio, we cover the issues you should be thinking about as you develop your financial plan for retirement. Your host, Ryan Morrissey, is a Fee-Only CERTIFIED FINANCIAL PLANNER TM who lives and breathes retirement planning. He'll be bringing you stories and real life examples of how to set yourself up for a successful retirement.2020 Retirewithryan.com. All Rights Reserved Economía Finanzas Personales
Episodios
  • Is It Wise to Gift My Children Money While I'm Alive? Ep#294

    Is It Wise to Gift My Children Money While I'm Alive? Ep#294
    Feb 24 2026
    If you have children and you've been thinking, "Why wait until I'm gone to help them financially?"—this episode is for you. In Episode 294, I walk through the biggest things to consider before making gifts to your kids while you're still alive, and I break down some of the smartest ways to do it without triggering unnecessary taxes. I'm seeing this trend more and more with my clients, and it makes sense. Financial markets have performed well, real estate has surged, and many retirees are in a stronger position than generations before them. But just because you can gift money doesn't mean you automatically should. There are several financial and family dynamics you need to think through first. The First Question I Ask: Can You Truly Afford It? Before you gift a dime to your children, I want you to look at your own financial foundation. I work with clients in their late 50s all the way into their 80s, and one of the most important realities is this: your retirement plan has to work first. You may have raised your kids, supported them, paid for education, and helped them get launched. Ideally, they should be able to support themselves. If you're gifting because you're financially secure and you want to, that's completely fine. But if the gift creates risk for your long-term success, it's not worth it. I also want you to think about long-term care. Many people don't have long-term care insurance because it's expensive, or they had it and dropped it when premiums increased. That means they're planning to self-insure. If you give away too many assets now, what does that do to your ability to fund care later? You'll Want to Hear This Episode If You're Interested In… [02:12] The #1 financial checkpoint before gifting anything [03:18] Long-term care planning, and why gifting can backfire [04:02] Common gifting goals: housing, school, debt, lifestyle support [05:12] Why business funding gifts require extra caution [06:26] The "fairness problem" when you have more than one child [07:22] How gifts can unintentionally destroy motivation and independence [08:10] The 2026 gift tax limits ($19,000 per person, $38,000 per couple) [09:04] The lifetime exemption, and why Congress can change the rules [10:28] The hidden danger of gifting appreciated assets [11:07] Step-up in basis vs. gifting while alive [12:05] Medicare premium impacts and capital gains planning [13:14] The tax-efficient order of assets to gift [15:22] Gifting real estate, and the cost basis trap [17:12] The 2-out-of-5-year home sale exclusion rule [18:05] The five-year Medicaid lookback and trust planning considerations What's the Gift Actually For—and Is It One-Time or Ongoing? One of the most important planning steps is clarifying why you're giving the money. The most common reason I see right now is housing. Real estate prices have climbed dramatically, and higher interest rates make monthly payments tougher. Helping a child with a down payment can make homeownership realistic. Other common reasons include paying for schooling, helping pay off student loans or credit card debt, or supporting a child during illness or unemployment. Some parents also want to help grandchildren with camps, daycare, or private school. I also talk about gifting money for a business startup—but this is where I urge caution. Businesses fail all the time. If you're going to do it, I believe a business plan and a real strategy matter. Taxes, Cost Basis, and the Biggest Mistake People Make Many people assume gifting is simple. It isn't. In 2026, you can gift $19,000 per person per year without triggering reporting. Married couples can gift $38,000 per child annually. Above that, you may need to file a gift tax return, and the excess counts toward your lifetime exemption. Right now, that lifetime exemption is around $15 million, but I've been a financial advisor since 2001 and I've seen it change dramatically. When I started, it was only $600,000. Congress can change the rules again. And here's the big one: if you gift appreciated assets while alive, your child inherits your cost basis. If they sell, they may owe a large capital gains tax. But if they inherit through death, they get a step-up in basis. That one detail can mean tens of thousands of dollars in taxes. Resources Mentioned RetireWithRyan.com Retirement Readiness on Demand Discount Code: RETIRE99 Connect With Ryan Subscribe to the Retire With Ryan YouTube Channel Download my entire book for FREE
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    19 m
  • Learn the ABCs of Medicare, Ep293

    Learn the ABCs of Medicare, Ep293
    Feb 17 2026

    If you're approaching age 65, Medicare can feel overwhelming fast. Between Parts A, B, C, and D and the timing rules tied to each—it's easy to make a costly mistake if you don't understand how the pieces fit together.

    In this episode, I walk through the Medicare "alphabet," explaining what each part does, when enrollment matters most, and how your decisions interact with the rest of your retirement plan. We also cover common questions that come up when clients transition from employer-sponsored coverage to Medicare for the first time.

    Whether retirement is right around the corner or still a few years away, this episode is designed to help you avoid penalties, coverage gaps, and surprises down the road.

    You will want to hear this episode if you are interested in...

    [00:00] Understanding Medicare Parts A, B, C, and D
    [01:00] When you can delay Medicare without penalties
    [02:30] How late enrollment penalties actually work
    [06:00] Timing Medicare enrollment to avoid coverage gaps
    [07:30] What Medicare does—and does not—cover
    [10:00] Medicare Advantage vs. supplemental coverage
    [14:00] How state rules can affect your long-term options

    Why Medicare Timing Matters

    Medicare isn't just about what coverage you choose it's also about when you enroll. Missing key enrollment windows can trigger penalties that last for life, even if the mistake was unintentional. In this episode, I explain the rules around initial enrollment, special enrollment periods, and why employer coverage plays such a critical role in determining your options.

    Choosing Between Medicare Advantage and Supplemental Coverage

    Once you enroll in Parts A and B, you still need to decide how to fill the gaps. Medicare Advantage plans and Medigap policies take very different approaches to coverage, costs, and flexibility. I outline how these options compare, what tradeoffs to be aware of, and why the "best" choice depends heavily on your health, preferences, and where you live.

    Building Medicare Into Your Retirement Plan

    Medicare decisions don't exist in a vacuum. Premiums, out-of-pocket costs, and coverage choices all affect cash flow in retirement. In this episode, I explain how to think about Medicare as part of a larger retirement strategy, not just a healthcare decision—so your plan stays aligned as you transition out of the workforce.

    Resources Mentioned

    RetireWithRyan.com
    Medicare.gov

    Connect With Ryan

    Subscribe to the Retire With Ryan YouTube Channel
    Download my entire book for FREE
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    18 m
  • 6 Changes To Social Security Happening in 2026, #292

    6 Changes To Social Security Happening in 2026, #292
    Feb 10 2026
    The landscape of Social Security is changing yet again. As we enter 2026, six big changes will impact both current and future retirees. I break down everything from the new cost of living adjustment (COLA), increases in the earnings test limit, and updated eligibility requirements, all the way to shifts in the full retirement age and the solvency projections for the Social Security Trust Fund. You'll also hear practical tips on maximizing your Social Security benefits, how to prepare for what's ahead, and why it's more important than ever to have a solid retirement plan in place. You will want to hear this episode if you are interested in... [00:00] Social Security updates in 2026.[04:23] Social Security Cost of Living Adjustment (COLA).[09:00] Social Security earnings and credits.[13:41] Social Security benefits timing.[15:31] Social Security cuts looming in 2033. Key Social Security Changes in 2026 On the show, you'll hear an overview of these changes, helping you to prepare and adjust your financial plans accordingly. From increased earning limits to the solvency of the trust fund, here's what you need to know. 1. Cost-of-Living Adjustment (COLA): A Modest Boost One of the most anticipated changes each year, the Social Security cost-of-living adjustment (COLA), has been set at 2.8% for 2026—slightly higher than last year's 2.5%. This increase is designed to help benefits keep pace with inflation and is calculated automatically based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) (as explained by Ryan Morrissey ). For retirees, this means an average monthly benefit increase of around $56 for singles and $88 for married couples. However, COLA's impact can be offset by hikes in Medicare Part B premiums, which have risen to $201.96 for 2026. This nearly $18 increase represents a 9.6% jump—higher than the COLA percentage—reminding retirees to monitor both Social Security and Medicare in tandem for accurate budgeting. 2. Earnings Test Limits: Collecting While Working If you want to claim Social Security before reaching your full retirement age and continue working, new earnings test limits apply. For those aged 62 until they reach full retirement age, the annual earnings limit is now $24,480, with benefits reduced by $1 for every $2 earned above this threshold. If you're in the year you hit full retirement age, the limit jumps to $65,160. Exceeding this means your benefit will be reduced by $1 for every $3 extra earned. Importantly, once you reach the month of your full retirement age, these limits disappear, and you can collect benefits without reductions regardless of income. 3. Earning Credits for Eligibility To qualify for Social Security, you must earn at least 40 credits over your working lifetime. For 2026, you'll receive one credit for each $1,890 earned per quarter—a slight increase over last year's $1,810. Most individuals accumulate the required credits after about 10 years of work. Earning more than 40 credits doesn't increase your benefit, but working longer and earning more can boost your payout through the average indexed monthly earnings calculation. 4. Social Security Wage Base Increase Social Security taxes apply to income up to a set wage base, which in 2026 rises to $184,500. Both employees and employers pay 6.2% up to this limit, which has increased by $7,500 over the last year. If you're self-employed, you cover both portions (12.4%). There's no cap on what you pay into Medicare, with a rate of 1.45%, and an additional 0.9% for higher earners. These thresholds have not been adjusted for inflation, making planning essential for those with larger salaries. 5. Full Retirement Age: Incremental Shift The gradual increase in full retirement age culminates in 2026. Those born in 1959 can claim full benefits at age 66 and 10 months, while anyone born in 1960 or later sees their full retirement age rise to 67. This change marks the final step in modifications enacted by the 1983 Social Security Act. After age 67, there are no planned increases—unless Congress takes further action. 6. Social Security Trust Fund: Solvency Concerns The long-term outlook for the Social Security Trust Fund remains a concern. Per the latest trustee report, benefits could be cut by 23% in 2033 if Congress does not act. Recent laws have expanded eligibility but also reduced system inflows, raising questions about solvency. For now, we don't need to panic; proactive planning and staying informed are key. Regularly review your Social Security status and plan contributions, and consider how these changes affect your overall financial strategy. Resources Mentioned Retirement Readiness ReviewSubscribe to the Retire with Ryan YouTube ChannelDownload my entire book for FREE Connect With Morrissey Wealth Management www.MorrisseyWealthManagement.com/contact Subscribe to Retire With Ryan
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    18 m
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