There are good tax planning strategies and then there are great tax planning strategies. Today, we will discuss what I think is a great tax planning strategy – in the right situation and if properly implemented.

In this episode, Steve and Mel discuss the following:

• What is a Health Savings Account?
• What are the potential tax benefits (spoiler alert: it’s not small)?
• The pros and cons of an HSA?
• How to avoid mistakes in the implementation of an HSA.

Resources: 

• Visit our Blog at Oasis Wealth
• For a list of qualified medical expenses, see IRS Publication 502.
• For a couple of Health Savings Account administrators, see Lively Website or HSA Bank Website. (We do not endorse them so please do your own due diligence.)

Want to speak to a fiduciary financial planner?

• Schedule an Introductory Call with Oasis Wealth

Travel in retirement can be immensely rewarding. While you do not have to see the world to find fulfillment in retirement, traveling beyond your home into different communities and cultures can provide you with rich experiences to learn, expand relationships, renew, and reach new horizons. 

In this episode, Steve and Mel discuss the following:

• The costs and budgeting for travel in retirement.
• Extended travel in retirement.
• Cost-saving tips for retirement travel.
• Why you don’t want to fail to plan travel.
• And more!

Resources: 

• Visit our Blog at Oasis Wealth: Episode 14 Blog
• Upgrade Points.
• Google Flights.
• The Balance Senior Travel Article, The Points Guy, and AARP.
• Earth Vagabonds, Senior Vagabond Travel

 Want to speak to a fiduciary financial planner?

• Schedule an Introductory Call with Oasis Wealth

In this episode, Steve and Mel discuss the following:

• The difference between vacation and true travel.
• The benefits of travel in retirement.
• Why your travel companions may be different in retirement.
• Why what we do in our travels may be different in retirement.
• And more!

Resources: 

For Visit our Blog line, ADD LINK TO OUR CORRESPONDING WEBSITE BLOG. USE THIS ADDRESS: https://www.oasiswealthplannig.com/ADD ADDITIONAL URL OF SPECIFIC PAGE

• Visit our Blog at Oasis Wealth: Episode 13 Blog
• Medium Article on Why Travel is More Important in Retirement
• Select list of travel groups: Road Scholar, Smithsonian Journeys, Elder Treks. For more, see a list compiled by Travel and Leisure.
• Interesting retreat locations: Sedona (AZ), Lake Junaluska (NC), Sante Fe (NM),

Want to speak to a fiduciary financial planner?

• Schedule an Introductory Call with Oasis Wealth

In this episode, Steve and Mel discuss the following:

• The pros and cons of paying down your mortgage in retirement.
• Using debt to help with tax minimization strategies.
• The potential role of a Home Equity Line in retirement.
• Why scenario analysis with financial modeling is critical to help you make important decisions.
• And more!

Visit our Blog at Oasis Wealth: Episode 12

Want to speak to a fiduciary financial planner?

• Schedule an Introductory Call with Oasis Wealth

Choosing the right claiming age for your Social Security retirement benefits can result in tens of thousands of dollars in savings or more. It’s not a one-size fits all answer so you better know the relevant factors and considerations.

In this episode, Steve and Mel discuss the following:

• Review the fundamentals of Social Security retirement benefits.
• The basic tradeoffs of claiming SS benefits earlier versus later.
• The key factors that play a role in the optimal claiming age decision.
• The types of analysis for the optimal claiming age.
• Why the analysis for married couples is more complex than for single individuals.
• Where to get help in analyzing your optimal claiming age strategy.
• And more!

Resources: 

For Visit our Blog line, ADD LINK TO OUR CORRESPONDING WEBSITE BLOG. USE THIS ADDRESS: https://www.oasiswealthplannig.com/what-is-the-optimal-social-security-claiming-strategy

Visit our Blog at Oasis Wealth: Episode 11

• SSA's Life Expectancy Calculator
• Living to 100 Calculator
• Alleva, Brian. Discount Rate Specification and the Social Security Claiming Decision. 2016.
• Alicia H. Munnell and Anqi Chen, Are Social Security’s Actuarial Adjustments Still Correct? 2019.

Want to speak to a fiduciary financial planner?

• Schedule an Introductory Call with Oasis Wealth

Knowing when to claim Social Security is a critical decision for retirement. Before you make that decision, it is important to understand the fundamentals of how Social Security retirement benefits are calculated and the nuances around the basic rules.  It’s also important to understand how it fits into your overall retirement plan.

In this episode, Steve and Mel discuss the following:

• How you can become eligible for Social Security retirement benefits.
• How your retirement benefit is calculated.
• How much can you expect from Social Security?
• What is the risk that the Social Security system will be bankrupt by the time you retire?
• What are the pros and cons of claiming earlier versus later?
• What are the nuanced rules for spouses, surviving spouses, and divorcees?
• And more!

Resources: 

• Visit our Blog at Oasis Wealth: Episode 10 Blog
• Obtain Social Security Online statement at https://www.ssa.gov/myaccount/statement.html.
• Establish an online account at the Social Security Administration. https://www.ssa.gov/onlineservices/.
• SSA’s online calculators -https://www.ssa.gov/benefits/calculators/.

Want to speak to a fiduciary financial planner?

• Schedule an Introductory Call with Oasis Wealth

Did you know that you may actually want to work “in retirement”. There is a growing trend of people working in semi-retirement, and the evidence shows there are many benefits of working in retirement. Whether it is paid work or volunteer work, your retirement is likely significantly more fulfilling if you were engaged in these kind of endeavors.

In this episode, Steve and Mel discuss the following:

• How “freedom to work” is different from working a regular day job.
• How your unique DNA can lead you to the right role in retirement.
• The variety of flexible work arrangements for the retiree, and why you should plan for this in advance of retirement.
• What the research says about volunteering in retirement. Spoiler alert: it can be life-changing.
• And more!

Resources: 

• Visit our Blog that corresponds to this episode at Oasis Wealth: Episode 9 Blog
• Lydia Brontë. (1993). The Longevity Factor: The New Reality of Long Careers And How It Can Lead To Richer Lives.
• Freedman, M. (2007). Encore: Finding Work That Matters in the Second Half of Life.
• Ryan, R. (2018). Retirement Reinvention. Penguin Books.
• Anthony, Mitch. (2008). The New Retirementality. Fourth Edition.

Want to speak to a fiduciary financial planner?

• Schedule an Introductory Call with Oasis Wealth

In this episode, Steve and Mel discuss the following:

• How we can make our health spans as long as our lifespans.
• Why most retirees in the U.S. are not getting enough exercise and what you can do about it.
• What is more important to our health than exercise, a good diet, and taking our medicine? It will surprise you.
• Tips on finding lifelong learning opportunities in retirement.
• Different methods of growing spiritually.
• And more!

Resources: 

• Visit our Blog at Oasis Wealth: Episode 8 Blog
• Mayo Clinic on healthy aging.
• Johnson, R. P. (1999). Creating a Successful Retirement Finding Peace and Purpose. Ligouri Publications.
• Johns Hopkins’ study on the health benefits from forgiveness.
• Zelinksi, E. (2015). How to Retire Happy, Wild, and Free. This Press.

Connect With Steve Martin or Mel Bond

• steve.martin@oasiswealthplanning.com
• (615) 881-3954
• mel.bond@oasiswealthplanning.com
• (615) 397-4504
• oasiswealthplanning.com

Want to speak to a fiduciary financial planner?

• Schedule an Introductory Call with Oasis Wealth