Andy and Jason discuss the importance of getting the most our of Social Security and your pension. Many people are unaware, for example, that there are more than 500 diferent claiming strategies for Social Security. Overall Americans have lost $3.4 trillion in income by claiming benefits at the the wrong time. That comes out to an average of $110K per household.

Jason and Andy talk about strategies to protect your assets form excess taxes when taking RMD's and other distributions.

As you know, 2025 is a year of tax reform, and there are many moving pieces. Jason and Andy cover some of the important considerations.

Jason and Andy discuss the tax implications of passive income and investing.

Jason Noble and Andy Merchant with Prime Capital Financial discuss the advantages of passive investing and passive income in retirement. In retirement, passive income refers to generating income that requires minimal or no ongoing effort after the initial investment or setup, like rental income, dividends from stocks, or royalties from intellectual property. Here's a more detailed explanation: What is Passive Income? Definition: Passive income is income generated from assets or activities that require little to no ongoing effort or active participation from the income earner. Examples: Investments: Dividends from stocks, interest from bonds or savings accounts, or rental income from real estate. Business: Royalties from intellectual property (like books, music, or inventions), or income from online businesses with automated systems. Contrast with Active Income: Active income is earned through direct labor or effort, such as salaries, wages, or commissions. Why is Passive Income Important in Retirement? Income Stream: Passive income can provide a steady stream of income during retirement, supplementing other sources like Social Security or pension plans. Financial Security: It can help retirees maintain their standard of living and cover expenses without needing to work full-time. Flexibility: Retirees can enjoy their retirement years without the pressure of needing to work for income. Diversification: Diversifying income sources, including passive income, can help mitigate financial risks. Examples of Passive Income Strategies for Retirement: Real Estate: Rental Properties: Own and rent out properties to generate monthly income. REITs (Real Estate Investment Trusts): Invest in companies that own, operate, or finance income-producing real estate without direct ownership. Investments: Dividend Stocks: Invest in companies that pay out a portion of their profits to shareholders as dividends. Bonds: Invest in debt securities that pay regular interest payments. High-Yield Savings Accounts: Invest in savings accounts with higher interest rates than traditional savings accounts. Business: Royalties: Earn income from intellectual property like books, music, or inventions. Online Businesses: Create and sell digital products or services with automated systems. Affiliate Marketing: Promote other people's products and earn a commission on sales.

Andy and Jason discuss the importance of understanding your relationship with money and wealth. Money is more than just a tool for transactions; it's the lifeblood of our dreams, ambitions, and often, our anxieties. Achieving a healthy relationship with money is critical not just to your financial well-being, but for your overall quality of life. When you fully understand this relationship it can mean having the freedom to live your life on your terms.

Jason and Andy discuss the importance of reevaluating and rebalancing you portfolio on a regular basis.

Jason and Andy discuss the benefits of regularly reviewing you plan and making adjustments if necessary. As your life evolves and changes, priorities can change too. It's also important to be ready to adjust your planning as markets and the economy changes.

Jason and Andy discuss how to decide which life insurance is best for your unique situation.

Jason and Andy talk about the importance of teaching kids about money while they're young to help them develop good budgeting, saving and investing habits.