Candid Conversations: Retirement Talk with Ryan Cravitz

Hosted by Ryan Cravitz

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Dec 2024

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About the show

Candid Conversations with Ryan Cravitz is a show specifically about retirement planning for people over 50. If you're wanting to invest better, maximize your income, reduce taxes, and learn how to successfully retire then this is the perfect show for you. Ryan has operated an independent financial planning firm since 2011 and is in his second decade of helping people grow and protect their wealth. Join him each episode for conversations about income, retirement, insurance, 401(k)s, IRAs, investments, and so much more. Visit him online at https://cravitzfinancial.com/ or by calling 714-462-9155.

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39 recent

December 5, 202422 min

Financial Mailbag: Annuities, Mortgage Debt, and Spousal Roth IRAs

As we close out the year, we wanted to take the chance to answer a bunch of financial questions that we’ve received. It’ll give us the opportunity to cover a wide range of topics that will hopefully address an area of planning you’ve also been curious about. Before we get into these great questions, we’ll share a cautionary tale about a retiree who fell victim to an investment scam, losing nearly three-quarters of a million dollars. Here’s what we discuss in this episode:0:00 – Intro 0:36 – Retirement scam story7:30 – Annuity withdrawal11:07 – Paying off a mortgage13:54 – Spousal Roth IRA 17:02 – Mortgage tax deduction18:13 – Income planning Get more educational videos on YouTube: https://bit.ly/4b80CuY CONNECT:If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.comCall: 714-462-9155Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

November 7, 202421 min

Social Security Shakeup: What Changes Could Be Coming Down The Line?

Social Security is the backbone of retirement for millions of Americans, but big changes could be coming pretty soon. In fact, one Congressman asked the Congressional Budget Office to put together a report detailing the impact of changing the full retirement age from 67 to 69. This change, if implemented, would have huge implications for anyone planning their retirement. Ryan will break down some of the key takeaways and discuss the implications if the government moves forward with this idea. Read the full report here: https://www.cbo.gov/publication/60516 Here’s what we discuss in this episode:0:00 – Intro 1:19 – Full retirement age3:04 – Key takeaways from the report9:13 – How should you view Social Security changes at different ages?13:28 – Final thoughts on Social Security14:17 – MailbagGet more educational videos on YouTube: https://bit.ly/4b80CuY CONNECT:If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.comCall: 714-462-9155Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

October 3, 202420 min

For Couples, Retirement Planning Is A Team Sport

Are you and your spouse on the same page when it comes to what you want in your retirement? If not, it’s time to talk. Retirement planning is a significant milestone that requires careful consideration and, more importantly, collaboration. Many couples don’t communicate enough when it comes to money, but preparing for retirement is best done with both parties understand the goals and how they’ll get there. That’s what we want to highlight in this video so we’ll break down the importance of being a team when it comes to your financial future. Here’s what we discuss in this episode:0:00 – Intro 1:28 – Mailbag3:54 – Couples with uncertainty9:50 - How we help couples get on the same page for retirement12:00 – Do both spouses need to be involved financially?14:22 – Why couples benefit from an advisor16:51 – Closing thoughtsGet more educational videos on YouTube: https://bit.ly/4b80CuY CONNECT:If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.comCall: 714-462-9155Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

September 5, 202422 min

The Key Questions to Answer in Retirement Planning

You can never ask too many questions when you’re trying to understand your finances and prepare for retirement. It’s essential that you know what you’re invested in and what you’re working towards. In this video, Ryan Cravitz will tackle some of the most fundamental yet challenging questions about retirement planning. Here’s what we discuss in this episode:0:00 – Intro 1:16 – How much you need when you retire4:46 – How much in savings?7:22 – How much risk 11:06 – Annuities13:26 – Are you tax-efficient17:28 – When to take Social SecurityGet more educational videos on YouTube: https://bit.ly/4b80CuY CONNECT:If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.comCall: 714-462-9155Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

August 8, 202421 min

5 Things People Get Wrong About Social Security When Planning for Retirement

Social Security is a really important part of an overall retirement plan but there are five things people get wrong when planning for retirement. The things we’ll talk about in this video are misunderstandings we often hear from clients and other people. In fact, advisors don’t always get these things right. If you’re approaching retirement or already in retirement, you’ll want to make sure you get clarity on these five things before you make any Social Security decisions. Here’s what we discuss in this episode:0:00 – Intro 1:57 – Long-term solvency of Social Security 6:17 – Spousal benefits 8:51 – Maximizing survivor benefits 12:04 – Confusing taxes with the earnings test 14:51 – Taxes you’ll owe Get more educational videos on YouTube: https://bit.ly/4b80CuY CONNECT:If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.comCall: 714-462-9155Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

July 25, 202423 min

3 Reasons To Retire Now (Or As Soon As Possible)

Today we’re going to give you three compelling reasons why you should consider retiring now or as soon as possible. If you are unsure about your retirement readiness, this episode will help you evaluate your financial security, address potential burnout and health considerations, and ensure you have a purposeful plan for your retirement days. If any of these reasons resonate with you, it’s worth having a conversation with a financial professional to see if you’re ready to retire. You might be closer to retirement than you think. Here’s what we discuss in this episode:0:00 – Intro 1:38 – Financial security 8:41 – Burnout or health considerations 13:26 – What will you do Monday morning? 20:10 – Final thoughts Get more educational videos on YouTube: https://bit.ly/4b80CuY CONNECT:If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.comCall: 714-462-9155Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

July 18, 202420 min

5 Things You Need to Know About Required Minimum Distributions (RMDs) When Planning for Retirement

In this video, Ryan outlines five crucial things you need to know about RMDs, including when you need to take them, how to calculate them, and strategies to reduce them for tax efficiency. These five things will help give you a better understanding of RMDs and the role they play in building an income plan, which will also help you be more efficient in retirement. Here’s what we discuss in this episode:0:00 – Intro 1:46 – When do you have to take your first RMD?5:00 – Calculating RMDs7:39 – Can RMDs be aggregated?11:16 – Why reduce RMDs?15:06 – Strategies to reduce your RMDsGet more educational videos on YouTube: https://bit.ly/4b80CuY CONNECT:If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.comCall: 714-462-9155Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

July 11, 202413 min

Why Delay Social Security Benefits?

One of the biggest questions that we get about Social Security is when should I take my benefits? A lot of people want to claim them as soon as they can for multiple reasons, but would you be better off delaying your benefits up to age 70?Join us as we explore five compelling reasons why you might want to consider postponing your Social Security claims, from maximizing survivor benefits to enhancing long-term financial stability. Here’s what we discuss in this episode:0:00 – Intro 1:25 – Survivor benefits 2:48 – Increase your monthly benefit4:49 – Long-term stability6:18 – Tax advantages7:56 – Spousal benefits10:05 – How far out should you plan?Get more educational videos on YouTube: https://bit.ly/4b80CuY CONNECT:If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.comCall: 714-462-9155Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

July 3, 202423 min

How Much Can I Spend in Retirement?

As you approach retirement, one of the most pressing questions is how much you can withdraw from your savings without running out of money. The 4% rule, a popular guideline in retirement planning, suggests that you can withdraw 4% of your retirement portfolio in the first year and adjust that amount for inflation each subsequent year. This rule, developed by William Bengen in the 1990s, was designed to ensure that retirees wouldn't outlive their savings over a 30-year retirement. But how does this rule align with the actual spending patterns and lifestyle of retirees today?Here’s what we discuss in this episode:0:00 – Intro 1:01 – Looking at the 4% rule4:15 – Comparing 4%, 5%, and 6% withdrawal rates8:42 – Stress testing each withdrawal strategy13:47 – Incorporating annuities into your plan20:43 – Conversation takeawaysGet more educational videos on YouTube: https://bit.ly/4b80CuY CONNECT:If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.comCall: 714-462-9155Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.

June 27, 202428 min

How Much Do I Need to Retire?

The crucial conversation when it comes to retirement is all about how much you need to have saved. The traditional $1 million benchmark doesn’t have as much staying power as it used to. In fact, a recent study found that Americans believe they need at least $1.5 million to retire comfortably. We’ve found that most people believe they’ll need a lot more saved before they can retire or they feel like they need to work a lot longer than they actually do.So what’s the true answer? Well, it’s different for every individual but today we’ll look at the data and break down the numbers to help you get an idea of how much you’re going to need to retire. Here’s what we discuss in this episode:0:00 – Intro 2:26 – Why people think they need more than they do 3:40 – Results from a study5:15 – Average annual income6:35 – Single withdrawal amounts12:21 – Married withdrawal amounts16:12 – How much saved for single people22:15 – How much saved for married peopleGet more educational videos on YouTube: https://bit.ly/4b80CuY CONNECT:If you have any questions, you can contact us online here: https://cravitzfinancial.com/ Email: ryan@cravitzfinancial.comCall: 714-462-9155Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.