Joe Knows Retirement

Joe Schmitz Jr., CFP® ChFC® CKA®

Welcome to the Joe Knows Retirement Podcast! Where Joe will take you through strategies to make the most of your retirement.

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29 episodes
a few times a week
Avg 17 min
English

Episodes 29

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S1 · E327
Yesterday · 17 min
7 Decisions That CHANGE If You Have a Pension & $1 Million
If you have a pension and $1 million or more saved for retirement, your retirement decisions may look very different from everyone else's. In this episode of Joe Knows Retirement, Joe breaks down 7 major decisions that can change when you have a pension and significant retirement savings. You've spent decades saving and preparing for retirement. Now the goal is making smart decisions with what you've built so you can enjoy your money, reduce unnecessary taxes, protect your family, and make the most of retirement. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "2% Club": https://keap.page/bsd964/2-percent-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/happy-retirement/spend-your-retirement-nest-egg-and-drop-the-guilt 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E326
Friday · 18 min
Why Doing Nothing Is The Biggest Tax Mistake
If you have a pension and $1 million or more saved for retirement, doing nothing with your tax plan could become one of your most expensive mistakes. In this episode of Joe Knows Retirement, Joe walks through why diligent savers with pensions can face a much larger tax burden than they expect, especially as tax-deferred accounts continue to grow. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "I Hate Taxes": https://keap.page/bsd964/toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/retirement-planning/regrets-for-retirees-with-a-pension-and-a-million-dollars 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E325
September 29 · 14 min
Do These 8 Things BEFORE You Roth Convert
Roth conversions can be one of the most powerful tax planning opportunities in retirement, especially if you have a pension and $1 million or more saved. But converting too quickly could mean missing other opportunities or paying taxes you did not need to pay. In this video, Joe covers 8 things to consider before doing a Roth conversion. The goal is not simply to convert as much as possible, but to determine how much to convert, when to convert, and how a Roth conversion fits into your complete retirement and tax strategy. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "I Hate Taxes": https://keap.page/bsd964/toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/taxes/tax-planning/why-retirees-with-pensions-need-roth-conversions 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E324
September 25 · 17 min
3 Ways to Lower Your RMDs Before It's Too Late
If you have a pension and $1 million or more saved for retirement, Required Minimum Distributions could create a much bigger tax problem than you expect. Your pension, Social Security, and future RMDs can stack on top of each other, potentially pushing your retirement income higher and impacting your taxes and Medicare premiums. In this episode of Joe Knows Retirement, Joe breaks down how RMDs work, why they can be especially important for retirees with pensions and significant tax-deferred savings, and strategies to consider for reducing their future impact. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "2% Club": https://keap.page/bsd964/2-percent-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/retirement-plans/required-minimum-distributions-rmds/604645/alternatives-to-required 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E323
September 22 · 19 min
10 Retirement Decisions You May Regret Making Too Early
If you have a pension and $1 million or more saved for retirement, you've probably done a lot of things right. But a few decisions made at the wrong time could have a major impact on your taxes, investments, income, and even how much you enjoy retirement. In this episode of Joe Knows Retirement, Joe breaks down 10 retirement decisions people may regret making too early or waiting too long to make. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "2% Club": https://keap.page/bsd964/2-percent-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/retirement-planning/regrets-for-retirees-with-a-pension-and-a-million-dollars 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E322
September 18 · 25 min
If You Have $3 Million Saved, Pay Attention to This
If you have $3 million or more saved for retirement, there are planning opportunities you may want to start thinking about differently. In this episode of Joe Knows Retirement, Joe walks through several advanced strategies that can become more important as your wealth continues to grow. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "Midwestern Millionaire": https://keap.page/bsd964/midwestern-millionaire-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/happy-retirement/spend-your-retirement-nest-egg-and-drop-the-guilt 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E321
September 15 · 18 min
Why Tax Planning Is The Center Of Retirement Planning
Many diligent savers enter retirement with most of their money sitting in tax-deferred accounts, but without a strategy for how those dollars will eventually be taxed. Add a pension, Social Security, required minimum distributions, Medicare premiums, and future estate considerations, and the tax impact can become much larger than expected. In this episode of Joe Knows Retirement, Joe breaks down several important tax planning opportunities for retirees with a pension and significant savings. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "I Hate Taxes": https://keap.page/bsd964/toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/taxes/tax-planning/how-pensions-affects-taxes-in-retirement 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E320
September 11 · 22 min
5 Ways to Protect Your Investments in Retirement with a Pension
If you have a pension and $1 million or more saved for retirement, you may not need to protect your investments the same way as the average retiree. Your pension already provides a level of dependable income, which can completely change how you think about your investment allocation. In this episode of Joe Knows Retirement, Joe breaks down 5 protection options retirees may want to consider. He explains the pros and cons of each and why your pension could give you more flexibility than a traditional retirement plan. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "2% Club": https://keap.page/bsd964/2-percent-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/retirement-planning/ways-to-strengthen-your-retirement-plan-today 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E319
September 8 · 20 min
Retiring With a Pension & $2 Million: A Real Retirement Case Study
If you're retiring with a pension and around $2 million or more saved, you're in a great position. But having enough money doesn't mean your retirement plan is finished. In this case study, Joe breaks down a couple preparing to retire with a strong pension, substantial savings, and plenty of opportunities to make the most of the retirement they've worked so hard to build. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "2% Club": https://keap.page/bsd964/2-percent-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/taxes/tax-planning/how-pensions-affects-taxes-in-retirement 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E318
September 4 · 19 min
Have $100K+ Sitting in the Bank? Do THIS Instead
If you have $100,000 or more sitting in the bank, is that really the best place for it? For diligent savers, especially retirees with a pension and $1 million or more saved, holding extra cash can feel safe. But too much cash could mean missed growth opportunities and unnecessary taxes. In this episode of Joe Knows Retirement, Joe breaks down how much you may actually need in an emergency fund and several ways excess cash could potentially be put to better use. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "2% Club": https://keap.page/bsd964/2-percent-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/taxes/tax-planning/keep-more-of-your-retirement-savings-standard-deduction-planning 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E317
September 1 · 18 min
Single With A Pension? Don't Let Taxes Ruin Your Retirement
If you're single and retiring with a pension, your retirement plan may look very different from the typical retiree. From higher tax brackets and Medicare premiums to Roth conversions, legacy planning, and your pension election, several important decisions could have a major impact on your retirement. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "2% Club": https://keap.page/bsd964/2-percent-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/taxes/widows-penalty-how-to-prepare 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E316
August 28 · 18 min
If Roth Conversions Only Save You 2%... Are They Really Worth It?
Many retirees hesitate to do Roth conversions because they believe the savings are only a couple of percentage points. But is that really the full story? In this episode of Joe Knows Retirement, Joe explains why focusing only on today's tax bracket can lead to costly mistakes later. If you have a pension, $1 million or more saved, or expect Required Minimum Distributions (RMDs), the true benefit of Roth conversions goes far beyond a simple 2% tax difference. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "I Hate Taxes": https://keap.page/bsd964/toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/roth-conversion-can-head-off-medicare-irmaa 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E315
August 25 · 14 min
Should the 2% Club Own Real Estate?
Should you own real estate if you have a pension and $1 million or more saved? Many retirees assume real estate is the obvious next investment, but the answer is more complicated than most people realize. In this video, Joe breaks down the biggest tax advantages of real estate and explains why most of our clients ultimately choose not to own rental properties in retirement despite the potential tax savings. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "I Hate Taxes": https://keap.page/bsd964/toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/taxes/tax-planning/what-being-in-the-2-percent-club-means-for-your-retirement 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E314
August 21 · 15 min
Do THIS Instead of a Roth Conversion
Roth conversions can be one of the best tax planning strategies in retirement, especially if you have a pension and $1 million or more saved. But what if the bigger opportunity isn't just saving taxes? In this episode of Joe Knows Retirement, Joe challenges Midwestern Millionaires to think beyond Roth conversions and ask a much bigger question: What is the real purpose of your money? 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "Midwestern Millionaire": https://keap.page/bsd964/midwestern-millionaire-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/taxes/tax-planning/times-that-a-roth-conversion-is-a-bad-idea-for-retirees 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E313
August 18 · 19 min
8 Tax Strategies Your CPA Won't Tell You - Part 2
If you have a pension and $1 million or more saved for retirement, simply filing your taxes may not be enough. The bigger opportunity could be proactive tax planning. In this episode of Joe Knows Retirement, Joe covers 8 more retirement tax strategies your CPA or financial planner may not be talking about. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "I Hate Taxes": https://keap.page/bsd964/toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/personal-finance/cpa-vs-tax-planner-whats-the-difference 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E312
August 14 · 17 min
I'm 60 With $2 Million and a Pension... Should I Do Roth Conversions?
You're 60 years old, you have a pension, and you've saved $2 million for retirement. Congratulations! But now comes one of the biggest tax planning decisions you'll ever make: should you be doing Roth conversions? In this episode, Joe walks through a real-world case study showing why Roth conversions may make sense for retirees with pensions and substantial retirement savings. You'll learn why this situation is different than most retirees, how Required Minimum Distributions (RMDs) can create a future tax problem, and how proper planning could potentially save hundreds of thousands of dollars over your lifetime. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "I Hate Taxes": https://keap.page/bsd964/toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/retirement-planning/regrets-for-retirees-with-a-pension-and-a-million-dollars 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E311
August 11 · 19 min
Retiring With a Pension? Watch This
If you're retiring soon with a pension, your retirement planning is different than most people. Less than 20% of retirees have a pension, and if you've also saved $1 million or more, you're in a unique financial position that requires more advanced planning. In this episode of Joe Knows Retirement, Joe covers the biggest retirement mistakes to avoid before making irreversible pension decisions. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "2% Club": https://keap.page/bsd964/2-percent-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/reasons-roth-conversions-and-pensions-work-well-together 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E310
August 7 · 19 min
13 Roth Conversion Windows You CAN'T Afford To Miss
If you have a pension and $1 Million or more saved, often the question is not whether you should do a Roth conversion, but when. In this episode of Joe Knows Retirement, Joe walks through 13 Roth conversion windows that could help you reduce taxes, lower future required minimum distributions and make smarter retirement decisions. From early retirement to Medicare, Social Security, the widow's penalty, charitable giving, and more, you'll learn the key opportunities that could make Roth conversions far more valuable. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "I Hate Taxes": https://keap.page/bsd964/toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/taxes/tax-planning/times-that-a-roth-conversion-is-a-bad-idea-for-retirees 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E309
August 4 · 18 min
The 5 Biggest Retirement Concerns I Hear
If you have a pension and $1 million or more saved, your biggest retirement concerns probably aren't what most people think. After helping thousands of retirees, I've noticed the same five concerns come up over and over again. They aren't worried about running out of money. They're worried about making the right decisions with the money they've worked so hard to save. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "2% Club": https://keap.page/bsd964/2-percent-toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/financial-planning-one-stop-shops-if-you-have-a-million-plus 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/
S1 · E308
July 31 · 16 min
Why Your Retirement Savings Could KEEP Growing After You Retire
If you have a pension, your retirement may look very different than most people expect. Many retirees assume they'll spend down their investments throughout retirement. But if you have a pension, Social Security, and substantial savings, your portfolio may actually continue growing for decades. In this video, Joe explains why this happens, how compound growth can continue in retirement, and the tax planning opportunities that come with this unique situation. You'll also learn why required minimum distributions, Roth conversions, and your investment strategy deserve a second look if you're fortunate enough to have a pension. 🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe's book "I Hate Taxes": https://keap.page/bsd964/toolkit-podcast.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/retirement-planning/are-you-being-tax-smart-about-your-pension 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/

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