Back to Basics: Financial Literacy 101

April isn't just about welcoming warmer weather; it's also Financial Literacy Month, a time to focus on our fiscal health and future. This episode will do just that, and it's an essential listen for anyone looking to secure their golden years with confidence and clarity.

A study used posted by the American College of Financial Services used a Retirement Confidence Scale based on the respondent’s self-reported confidence that they will feel financially secure, have enough money to live comfortably, and do a good job handling their investments throughout retirement. Those who scored better in financial literacy were more confident in their retirement. We’ll journey through the critical elements of retirement planning, from understanding different types of IRAs to the intricacies of gift taxes. It's an engaging dialogue that isn’t meant to just inform but also inspire action.

 

Here’s some of what we discuss in this episode:

0:00 – Intro

0:56 – Importance of financial literacy

2:35 – Study findings

8:40 – Correlation with earnings

11:58 – Retirement falls on you

19:10 – Traditional vs Roth IRA

23:32 – Retirement annuity

26:28 – After-tax accounts

18:08 – Mutual Funds and ETFs

31:13 – Gift tax

 

 

About Retirease Radio:

Retirease Radio is hosted by Victor J. Medina, a Certified Elder Law Attorney (CELA®) and a Certified Financial Planner (CFP™). Founder of Medina Law Group & Palante Wealth Advisors, Victor and his companies are dedicated to empowering people through education about estate planning and their finances.

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