PFR Nation,
Welcome to PART 3 of 100 Episodes, 100 Lessons (for retireesand pre-retirees).
In this episode, we’ll walk through episodes 51-75 and bringhome some key takeaways for you as you plan for and execute a successfulretirement. I hope you enjoy this one!
If you are over 50, you’ve saved north of $1million forretirement, and you want to maximize retirement income, minimize your lifetimetax bill, and worry less about money…hit the FOLLOW button so you don’t missout on the next 100 episodes!
-Kevin
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
The journey continues. We are walking through 100 lessons from the first 100 episodes in this 4-part series. I hope you enjoy part 2!
If you are over 50, you’ve saved north of $1million for retirement, and you want to maximize retirement income, minimize your lifetime tax bill, and worry less about money…hit the FOLLOW button so you don’t miss out on the next 100 episodes!
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation:
Thank you all for supporting this show for the last few years. Especially for those of you who supported me in the early days when I thought nobody was listening. I even took a 4 month hiatus without announcing it because we were so in the trenches with our boys. All of a sudden I get an email out of the blue asking “Are you still doing the podcast?” That was the motivation I needed to get back in the game and just ‘hit record.’ In 2023, I began posting consistently ever 2 weeks. And in the beginning of 2025, I decided to go weekly! It hasn’t been easy, but I just want to thank all of you for keeping me motivated, this is why I do what I do. Keep the comments coming and make sure to share our show with someone you care about who is PFR Nation caliber!
Naturally, I was overthinking what I would do for this episode. However, my wife helped me simplify it per usual. I will be breaking down my top takeaway/lesson from all of the previous episodes, and we’ll do it in 4 parts. Part 1 covers episodes 1-25, so lets take a walk down memory lane together and recap important points from those early episodes. I hope you enjoy this series!
-Kevin
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
As you know, we are well underway with our free giveawaysfrom a couple of weeks ago. And as I mentioned last week, we received a lot of great comments in that YouTube thread! So last week, I touched on three of the questions in a Q&A format. Today, I’ll address three more!
Here they are:
1. “So how do you actually build a retirement income plan that both people can sleep at night with when one side wants market exposure and the other wants safety?”
2. “I've set aside (spreadsheet) my calculated number to self-fund my long-term care, but the variables and assumptions concern me.”
3. “How do we pay for health care before Medicare?”
You’re not going to want to miss this one, and hope you find it useful! Thanks for tuning in.
-Kevin
Resources Mentioned in this Episode:
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
We just announced our FREE GIVEAWAY winner and runner-up on the YouTube channel last Thursday. Thank you all for participating and making that process super enjoyable and engaging. One of the questions I asked for the giveaway was “What is one thing related to planning for retirement that keeps you up at night?” We received some amazing responses!! So, I thought I would dedicate this episode and the next to addressing some of the best questions in that YouTube thread.
This episode, we will wrestle with three of them:
You’re not going to want to miss this one and hope you find it useful! Thanks for tuning in.
-Kevin
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
I recentlydiscovered a Ted Talk by Dr. Riley Moynes about the “4 phases of retirement.”
We talk a lotabout the financial side of retirement planning.
- Safe withdrawal rates
- Tax efficiency
- Investing to and through retirement
- Legacy
- Insurance
However, it’s equally important to understand and thinkabout the softer side of retirement planning. In this episode, you will want to hear Dr. Moynes’ take on the 4 phases,and I’ll talk about a real-life hero in the College Football world that canhopefully inspire you to SKIP the dark and depressing phase!
I hope you enjoy this one.
-Kevin
Takeaways
· Retirement is not just a financialtransition; it's an emotional journey.
· Understanding the four phases ofretirement can help avoid pitfalls.
· The vacation phase is characterized byfreedom and excitement.
· The loss phase involves identity andpurpose challenges.
· Michael Phelps' experience illustratesthe emotional struggles of retirement.
· Therapy and seeking help can be crucialduring transitions.
· Finding new meaning in retirement isessential for fulfillment.
· Engaging in service and mentoring canenhance retirement satisfaction.
· Financial independence allows forexploration of new passions.
· Planning for purpose in retirementshould start before retirement begins.
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
In this episode, I’m tackling America’s “headline culture,” how short clips and soundbites dominate not only politics, but also the way we think about retirement planning. With the tragic assassination of Charlie Kirk as a starting point, I reflect on how social media algorithms amplify the loudest, most divisive voices, while thoughtful, nuanced conversations get drowned out. When I dug into Charlie’s long-form interviews, like his sit-down with Gavin Newsom, I realized how much context gets lost and how much more common ground we really share when we go deeper.
The same thing happens in retirement planning. Viral soundbites like “Social Security is going bankrupt,” “Never pay off your mortgage,” “The 4% rule always works,” or “Financial advisors can’t beat the market, so don’t hire one” may sound convincing in 20 seconds, but they can be misleading and even harmful if you base major decisions on them.
In this episode, I break down why these headlines don’t tell the full story and what you should consider instead.
At the end of the day, just like politics, retirement requires long-form thinking. The clips may get clicks, but the deeper conversation is where the truth, and a confident retirement, really lives.
-Kevin
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
Welcome to another “Whiteboard Retirement Plan” breakdown!
Scottie and Meredith had the perfect plan: retire at 65, sign up for Medicare, and start Social Security at 67. With nearly $1.9 million saved, everything looked like it was on track, until life threw them a curveball. After some friends their age got sick and passed away, they started asking: Why wait? Can we retire right now at 60?
In this Whiteboard Retirement Plan, Kevin Lao stress tests their plan to see if early retirement is really possible without jeopardizing their future.
You’ll hear:
If you’ve ever wondered whether you could retire earlier than planned without blowing up your financial security, this episode is for you.
-Kevin
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
As you approach retirement, or even when you are in the beginning phase of retirement, there is this natural feeling of concern about market uncertainty. After all, the market can turn south in a heartbeat, potentially even leading into a recession. Or worse, a prolonged recession. This term is also known as “Sequence of Returns Risk.” It’s not about your long-term average return, it’s about the ‘sequence’ those returns are generated.
I’ve been stress testing different rates of withdrawal with different starting periods. And the ‘Lost Decade’ of the 2000s is a perfect example of why sequence of returns is so important for retirees to protect against.
In this episode, I’ll highlight some of the major downturns since the 2000s. Then, I’ll talk about some real strategies that you can implement as you protect against sequence of returns risk. I hope you find this one useful!
And let me know what YOU plan to do to hedge against this risk. Also, make sure to share this episode with someone who is also approaching retirement, or who has recently retired! I’m sure they’ll also find it useful.
Thanks for tuning in.
Kevin
Key Topics:
• What Sequence of Returns Risk really means and why it matters more than long-term average returns.
• How the “Lost Decade” of the 2000s demonstrates the dangers of poor return sequencing.
• Practical strategies to protect your retirement portfolio from early losses.
• Tips for stress-testing withdrawal rates and planning for different market scenarios.
Click this link to fill out our Retirement Readiness Questionnaire
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
Many of you have adult children or loved ones you hope will benefit from your financial success. But how confident are you in their financial skills? Will they be good stewards of the wealth you leave behind? Even if you don’t plan to leave a fortune, your careful retirement planning might still create a sizable legacy.
I just celebrated 17 years in financial services on 8/28! It’s been a journey full of highs and lows, shaping my perspective on money and life itself. To mark the milestone, I’m sharing 10 key lessons I’ve learned as a financial advisor, entrepreneur, and content creator. My hope is that these insights can help you in your conversations with your adult children or beneficiaries!
I hope you find it useful!
Kevin
Click this link to fill out our Retirement Readiness Questionnaire
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
If you have been a podcast listener for a while, you know I have strong feelings about the “4% Rule.” Well, the father of the 4% Rule, Bill Bengen, just released a new book where he admits that 4% is probably too low. In this episode, we’ll briefly touch on the history of the 4% rule, as well as the findings in his new book. But more importantly, we’ll discuss the downsides of actually using the 4% rule in real retirement planning and touch on some key planning opportunities for YOU (PFR Nation) to consider instead.
I hope you all find this one helpful!
Let me know what YOU think of the 4% Rule!
-Kevin
Click this link to fill out our Retirement Readiness Questionnaire
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
Legendary actor Gene Hackman passed away earlier this year. Some of the details about his estate plan have been made public due to the probate process. While I don’t believe any of us have an $80 million estate, there are some important lessons we can all take away from this estate planning nightmare. Especially if you are part of a blended family (children from a previous relationship or marriage). I hope you all find this useful.
Make sure to check out the links below for some of the blended family content I’ve created in the past from the podcast and company blog.
And finally, make sure to email me at kevin@imaginefinancialsecurity.com if you would like a copy of the e-book I am finishing up, “Planning For Retirement With A Blended Family.”
Thanks for tuning in to the show and making sure to follow the podcast and subscribe to our YouTube channel for weekly retirement-related content for PFR Nation!
-Kevin
Resources Mentioned:
Click this link to fill out our Retirement Readiness Questionnaire
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
I hope everyone has had a great summer! It’s been action-packed for us, especially coming off the heels of family visiting the last 8 days. Thus, thanks for your patience with this week’s episode!
This is a good one! Many folks retire earlier than they had anticipated. In this case, Marilyn was forced to retire 5 years earlier than she had planned! She’s done well saving and investing, and has accumulated $1.95million between taxable, tax-deferred and tax-free accounts. However, she has some ambitious goals for travel and freeing up her time!
Let’s see how her plan looks. And let’s see what levers she can pull in order to improve her retirement outcome. I hope you all find this useful!
-Kevin
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
Welcome to another edition of Planning for Retirement (PFR) with Kevin Lao.
And welcome to all the newbies here! If you are new, you might want to hit that “Follow” button if you are over 50 and have saved a minimum of 7 figures for retirement. You’re approaching the phase of life where you want to be able to fire your boss at any time, maximize your retirement impact, minimize your lifetime tax bill, and worry less about money! This is your podcast!
And don’t forget to “Subscribe” to our YouTube Channel, where we put out weekly retirement-related content designed for YOU (PFR Nation).
Today, we’ll revisit another Q&A session with some GREAT questions we’ve curated over the last few months. Reminder, if you have a question for a future Q&A episode, or simply want to send me an email, you can at: kevin@imaginefinancialsecurity.com
We have questions related to Roth IRAs, Inherited Roth IRAs, stock allocations for retirees, IRA to Health Savings Account rollover, and more!
I hope you enjoy this one!
Kevin
Resources Mentioned:
Are you interested in working with me 1 on 1?
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
In this 88th episode of the Planning forRetirement podcast, I’ll touch on the importance of finding true fulfillmentbeyond financial success and that chasing a retirement goal is merely a toolfor freedom. Freedom to pursue what YOUare built to pursue on this earth. First, I’ll start off by sharing someinsights on tax planning following the One Big Beautiful Bill Act (OBBBA),including changes to tax brackets, the senior deduction and the SALT deduction.I will then highlight a key market trend for 2025, but at the same time stressthe importance of not chasing the next hot thing. And then finally, I will highlight variousside hustles and activities that retirees engage in to stay active, fulfilled,and connected to their communities (compliments of a Reddit thread I stumbledupon). I hope you all enjoy thisepisode!
-Kevin
Takeaways:
• Money is a tool, not the goal.
• Financial independence should lead to a meaningful life.
• Tax benefits from OBBBA are significant for retirees.
• The SALT deduction cap has increased the likelihood of itemizing deductions.
• International stocks are outperforming US stocks in 2025, by a lot!
• Diversification is crucial in investment strategies, but don’t chase returns.
• Timing the market can lead to significant financial mistakes.
• Retirement should focus on finding purpose, not just financial stability.
• Many retirees engage in side hustles for fulfillment and extra income.
• Boredom can lead retirees to seek part-time work or hobbies.
• Staying active is crucial for mental and physical health in retirement.
• Pursuing passions can lead to new business opportunities in retirement.
• Volunteering and helping family can provide a sense of purpose.
• It's important to plan for both financial and personal fulfillment in retirement.
• Retirement can be a time to explore new interests and hobbies.
• Community engagement can enhance the retirement experience.
Resources Mentioned:
• Ep 61 – Benefits of Working in Retirement (w/ Roberto Fortuna)
• What is Your Side Hustle In Retirement? (Reddit thread)
Are you interested in working with me 1 on 1?
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
The internet is full of financial advice. Some is good, some is great, and some downright dangerous. After nearly 17 years as a financial advisor, I’ve heard it all. In this episode, I’m calling out the bad advice for retirees and pre-retirees that still gets passed around today in hopes that you will plan better for retirement!
I hope you enjoy it.
-Kevin
Takeaways:
Are you interested in working with me 1 on 1?
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
PFR Nation,
It’s official, the One Big Beautiful Bill Act (OBBBA) was signed into law on July 4th, 2025, making significant impacts on tax rates, deductions, and various credits.
This by no means is a summary of ALL the changes from OBBBA, but I attempted to summarize what I believed was most relevant to our listeners and clients (folks nearing or in retirement, saved over $1million, excluding primary residence, mostly in tax-deferred vehicles).
In addition to the key tax changes, I’ll also break down 3 client examples and how OBBBA impacted their taxes in 2025. Finally, I will discuss 7 planning opportunities to consider.
I hope you find it helpful.
If you are interested in learning more about working with our firm, you can visit our website or fill out the Retirement Readiness Questionnaire below.
-Kevin
Takeaways:
Are you interested in working with me 1 on 1?
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
I hope you all enjoyed the 4th of July weekend! Happy Birthday, America!
Fees are a big topic of conversation amongst financial advisors, but also from consumers. It can be a spicy topic with lots of complexities, but I’ll try to simplify HOW and WHAT you are paying your financial advisor.
I’ll be the first to admit, I am extremely biased being a fee-only financial advisor, which I’ll admit throughout the show. I will say that there is no right or wrong fee model! However, I do believe there is a right fee model based on the client’s circumstances. This is why we designed our fee structure the way we do, because we serve retirees with $1mm - $5mm of investible assets.
In this episode, I’ll talk about “free financial planning,” the different fee models, what those fees are from a $ perspective, and 5 recommendations if you are considering hiring a financial advisor.
Takeaways:
Are you interested in working with me 1 on 1?
Or, visit my website
Connect with me here:
Other Links Mentioned:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
Hello, PFR Nation and Happy 4th of July, and Happy Birthday, America! What a great country we live in, I’m so proud to be an American. My Dad being a (legal) immigrant has given me great appreciation for the opportunities we have relative to the rest of the world.
I’m feeling extremely blessed for the clients we are serving in our financial planning firm, and I’m so grateful to serve all of you with this podcast. I hope you continue to find value.
We have a fair amount of new listeners, plus the legacy listeners, and I just want to say how excited I am to deliver this weekly content to all of you. Thank you for the support, and welcome to the 84th episode of the PFR Podcast and 7th edition of the ‘Whiteboard Retirement Plan.’
Leo and Lisa are looking to retire in 2 years, at 61 and 58 respectively. They have done quite well accumulating approximately $3 million for retirement with the majority being inside of traditional tax deferred IRA’s and a 401k.
Leo is on Long Term Disability and was forced to ‘retire earlier’ than planned, and is receiving tax free income until 65. Lisa plans to fully retire at 58. However, this will result in losing employer-sponsored healthcare and ultimately needing to shop around in the open market. One option will be to consider the Affordable Care Act policies on Healthcare.gov. Furthermore, Roth Conversions are of interest during their “Roth Conversion Window” from Lisa’s age 58 until she turns 75. In this episode, we will help them decide whether or not to aggressively pursue a ‘low income’ to reduce healthcare costs in early retirement…or, to begin converting some of the tax-deferred accounts right away to reduce the ‘Tax Trap of 401ks.’
Drop a comment and let me know what you plan to do if you retire before 65! Will you aggressively pursue ACA Premium Tax Credits? Aggressively convert to Roth? Or potentially a hybrid between the two?
I hope you enjoy the 7th edition of the “Whiteboard Retirement Plan.”
***Additional Disclaimer*** So much about these rules are up in the air. From 2021-2025, there has been a “gradual slope” downwards of ACA premium tax credits even AFTER you exceed 400% of the Federal Poverty Level. However, that is set to revert back to the “Cliff” at 400% after 2025. With that said, there is a LOT on the table with the “One Big Beautiful Bill” which will likely include further changes to these rules. I guess what I’m saying is…continue to follow the “OBBB” and of course follow the PFR Pod!
-Kevin
Takeaways:
Are you interested in working with me 1 on 1?
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.
Many of the individuals and families we serve end up “Oversaving” for retirement. If you are in that same situation (you overachieved 😊), you will want to listen to this episode to learn about 6 retirement planning opportunities to consider.
Basically, this is the exact
I hope you find this episode useful.
-Kevin
Takeaways:
Are you interested in working with me 1 on 1?
Or, visit my website
Connect with me here:
This is for general education purposes only and should not be considered as tax, legal or investment advice.