The Cost of Retirement & Planning for Large IRAs

This week on "Being Financially Peaceful," Rocco Kryns explored the complexities of preparing for and living in retirement, emphasizing that true financial peace is about achieving reliability and purpose—not just accumulating wealth. Rocco highlighted the importance of planning for rising costs, unexpected expenses, and the risk of outliving your savings, dispelling outdated notions of simply saving a fixed amount. He advised listeners to create a personalized monthly income plan that takes into account Social Security, investments, and other income streams, stressing that having accounts is not the same as having a strategy.

The show also addressed the latest changes in retirement rules, including updates brought by the Secure Act and Secure Act 2.0, which affect how IRAs and 401ks are taxed and inherited. Rocco discussed strategies like Roth conversions and using life insurance to minimize future tax burdens and optimize legacy planning, reminding listeners that every financial situation is unique and benefits from a trustworthy, tailored approach. Audience questions touched on how to handle retirement anxiety, prepare for financial emergencies, and the value of seeking second opinions.


To learn more about Rocco Kryns and the team, visit https://needwisdom.com/