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  • Trends with Benefits

    Trends with Benefits #56: Retirement Savings Time Bomb with Ed Slott

    Ed Lopez, Head of ETF Product
    June 15, 2021
     

    I figure Ed Slott has been asked this question a million times, “How much do I need to retire?”, but I ask it anyway. Like anything in life, the true answer is a little more nuanced. My guest, Ed Slott, is a CPA and accomplished author of financial and retirement-focused books, including his latest, The New Retirement Savings Time Bomb. As far as books about taxes and retirement planning go, his book is an easily digestible guide to the issues presented by retirement, but we talk about some of the most important concepts and issues you’ll want to keep in mind, if you want to keep as much of what you’ve saved as possible.


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    It’s Your Money, Keep It

    So, you’re diligent at socking away money in your IRA or 401k and letting it grow tax deferred. That’s a good start, but have you considered how you’re going to pull it out when you need it? One myth Ed tries to dispel early on is the idea that you’ll be in a lower tax bracket when you retire. That may or may not be true, particularly when Required Minimum Distributions force you to start taking large chunks out at a time. Everyone will have a different situation and goal for how they want to use their money and direct their estate, but in speaking with Ed, he helps to illuminate the different tools and strategies you can incorporate into your plans. He’s a fan of the Roth IRA, even taking a tax hit now while tax rates are still low by converting other retirement accounts to the Roth IRA format. Insurance products too, have a place depending on your needs. The point is, there are a number of options for you to protect your assets. I hope you’ll find our discussion enlightening and a first step toward putting a plan in place to help you keep more of what you’ve worked so hard for.

    Trend or Fad

    Listen for Ed’s take on the FIRE movement, crypto, connected home fitness, and pet adoption.

    Follow Ed Lopez @thatEdLopez on Twitter and Ed Slott at irahelp.com or @theslottreport on Twitter.

    You can listen and subscribe to this podcast on Apple PodcastsSpotifyStitcherSoundCloud, and YouTube.

    IMPORTANT DISCLOSURES

    Please note that Van Eck Securities Corporation (an affiliated broker-dealer of Van Eck Associates Corporation) may offer investments products that invest in the asset class(es) discussed in this podcast.

    The views and opinions expressed are those of the speaker(s) but not necessarily those of VanEck. Commentaries are general in nature and should not be construed as investment advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. Any discussion of specific securities/financial instruments mentioned in the commentary is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary. All indices mentioned are measures of common market sectors and performance. It is not possible to invest directly in an index. Information on holdings, performance and indices can be found at vaneck.com.

    All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future performance.

    Van Eck Associates Corporation
  • Authored by

    Ed Lopez
    Head of ETF Product

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