Paying for School Without Sacrificing Retirement – Part 2 (Ep. 43)

Five Hidden Retirement Taxes That Can Cost You More Than You Expect (Ep. 46)

Have you ever wondered why your taxes or Medicare costs seem to increase even when tax rates haven’t changed?  Small planning decisions can have a much bigger financial impact than many retirees realize. In this episode, Jim Kruzan, CFP®, CRPC®, explains five often overlooked tax rules that can quietly increase retirement costs over time. He breaks down Medicare premium surcharges, Social Security taxation, payroll taxes, home sale capital gains, and the hidden impact of income thresholds that haven’t kept pace with inflation.  Jim also shares practical planning ideas to help retirees and pre-retirees make more informed decisions about Medicare, withdrawals, income, and taxes before unexpected costs arise. Key takeaways: * How Medicare premium surcharges increase as income crosses fixed thresholds that haven’t changed with inflation * Why surviving spouses often face higher Medicare costs because filing thresholds change after a spouse passes away * How selling a highly appreciated home can create unexpected capital gains even after available exclusions apply * Why Roth conversions, retirement withdrawals, and investment income should be coordinated before year-end * How proactive tax planning can help reduce avoidable costs without changing your long-term retirement goals * And more! Continue Your Retirement Planning Curious how these retirement tax rules could affect your own financial plan? Watch our free, 20-minute Engineering Your Best Retirement webinar to learn about the key decisions that can impact your retirement. You’ll also discover how our personalized Retirement Readiness Report helps individuals evaluate their retirement readiness and learn how to request yours for free. Register for the Webinar / Watch On Demand [https://kaydanwealthmanagement.ewebinar.com/webinar/engineering-your-best-retirement-22918] Connect with Jim Kruzan:  * (800) 638-6900 * Kaydan Wealth Management [https://www.kaydanwealthmanagement.com/] * LinkedIn: Jim Kruzan [https://www.linkedin.com/in/jameskruzan/] * LinkedIn: Kaydan Wealth Management [https://www.linkedin.com/company/kaydan-wealth-management/] * Facebook: Kaydan Wealth Management [https://www.facebook.com/KaydanWealthManagement/] * Instagram: Kaydan Wealth Management [https://www.instagram.com/kaydanwealth/] * YouTube: Kaydan Wealth Management [https://www.youtube.com/user/Kruzan81D] * Twitter: Kaydan Wealth Management [https://twitter.com/KaydanWealth] Disclosure: This article is provided for informational purposes only and should not be considered tax, legal, or accounting advice. Tax laws are subject to change, and individual circumstances vary. Please consult your tax professional or other qualified advisor regarding your specific situation.  Sources:  * IRS Publication 915 – Social Security and Equivalent Railroad Retirement Benefits [https://www.irs.gov/forms-pubs/about-publication-915] * IRS Topic No. 701 – Sale of Your Home [https://www.irs.gov/taxtopics/tc701] * IRS Publication 523 – Selling Your Home [https://www.irs.gov/publications/p523] * IRS Publication 590-B – Distributions from IRAs [https://www.irs.gov/publications/p590b] * https://www.kiplinger.com/retirement/medicare/what-is-the-irmaa [http://medicare.gov] * Social Security Administration – Benefits and Taxation [https://www.ssa.gov/manage-benefits]

Retirement Clarity: Turning Savings into a Real Plan (Ep. 45)

Many people are saving consistently, yet still feel uncertain about their future. What if the issue is not how much you’ve saved, but how well everything works together? In this episode, Jim Kruzan, CFP®, CRPC®, introduces a Retirement Readiness Report developed by his team at Kaydan Wealth Management, designed to bring all the moving pieces of a financial plan into one clear view. He explains why clarity matters more than accumulation alone, and how disconnected accounts, tax exposure, and withdrawal strategies can impact retirement outcomes.  Jim also shares why timing, especially within the final decade before retirement, can shape long-term income, taxes, and overall financial confidence. Key takeaways: * Why many savers lack confidence despite years of consistent contributions and strong account balances * How traditional probability models can miss key factors like taxes, income flow, and real life outcomes * The importance of coordinating accounts to create efficient and sustainable retirement income * How tax planning over decades can significantly change long-term retirement results * Why the 5 to 10 years before retirement is critical for making meaningful financial adjustments * And more! Resources: * Learn more about our Retirement Readiness Report here! [https://calendly.com/steven-wszelaki/retirement-readiness-intro-call?back=1] * Employee Benefit Research Institute [https://www.ebri.org/] Connect with Jim Kruzan:  * (800) 638-6900 * Kaydan Wealth Management [https://www.kaydanwealthmanagement.com/] * LinkedIn: Jim Kruzan [https://www.linkedin.com/in/jameskruzan/] * LinkedIn: Kaydan Wealth Management [https://www.linkedin.com/company/kaydan-wealth-management/] * Facebook: Kaydan Wealth Management [https://www.facebook.com/KaydanWealthManagement/] * Instagram: Kaydan Wealth Management [https://www.instagram.com/kaydanwealth/] * YouTube: Kaydan Wealth Management [https://www.youtube.com/user/Kruzan81D] * Twitter: Kaydan Wealth Management [https://twitter.com/KaydanWealth]

The Three Chapters of Retirement and How Spending Changes Over Time (Ep. 44)

Retirement is rarely one long, predictable stretch. Spending, priorities, and daily life can shift more than many people expect, which is why a more realistic framework can make planning feel less stressful. What if the real challenge is not just having enough money, but knowing when and how to use it well? In this episode, Jim Kruzan, CFP®, CRPC®, explains why retirement should be viewed in three chapters instead of one flat timeline. He breaks down the go-go, go-slow, and later years, showing how spending often starts higher, settles into a steadier rhythm, and then rises again as health and housing needs change. Jim also shares how a retirement plan can be built around changing cash flow, not just fixed income, so people can enjoy more experiences early on without losing sight of future care costs. Key takeaways: * Why retirement spending often follows a smile pattern instead of rising in a straight line year after year * How the early retirement years can support travel, hobbies, and family experiences without defaulting to fear * Why the middle years often bring steadier routines, lower discretionary spending, and housing decisions * How health care, home care, and assisted living can sharply raise costs in the final retirement chapter * Why planning around changing cash flow can better reflect real retirement life than static income models * And more! Resources: *  Schedule a Retirement Readiness Intro Call [https://calendly.com/steven-wszelaki/retirement-readiness-intro-call] *  The Impact Of Decreasing Retirement Spending On Safe Withdrawal Rates [https://www.kitces.com/blog/safe-withdrawal-rates-with-decreasing-retirement-spending/?utm_source=chatgpt.com] Connect with Jim Kruzan:  * (800) 638-6900 * Kaydan Wealth Management [https://www.kaydanwealthmanagement.com/] * LinkedIn: Jim Kruzan [https://www.linkedin.com/in/jameskruzan/] * LinkedIn: Kaydan Wealth Management [https://www.linkedin.com/company/kaydan-wealth-management/] * Facebook: Kaydan Wealth Management [https://www.facebook.com/KaydanWealthManagement/] * Instagram: Kaydan Wealth Management [https://www.instagram.com/kaydanwealth/] * YouTube: Kaydan Wealth Management [https://www.youtube.com/user/Kruzan81D] * Twitter: Kaydan Wealth Management [https://twitter.com/KaydanWealth]

Paying for School Without Sacrificing Retirement – Part 2 (Ep. 43)

What’s the real cost of education when your retirement is on the line? In part two of this series, Jim Kruzan, CFP®, CRPC®, breaks down the financial tradeoffs hidden in today’s education planning landscape from brand-new Trump Savings Accounts to long-term student loan debt, and how poorly timed withdrawals could sabotage your retirement timeline. With decades of experience guiding families through these complex intersections, Jim offers clear insight into what to prioritize, how to help protect your future, and the conversations parents and students need to start earlier than ever. What to expect in this episode: * Who qualifies for the $1,000 Trump Savings Account, and is it worth it? * Why ABLE accounts can be a game-changer for families with disabilities * How 401(k) loans and student debt delay retirement goals * The single biggest mistake families make when juggling tuition and retirement * And more! Resources: * Paying for School Without Sacrificing Retirement – Part I (Ep. 42) * One Big Beautiful Bill Act [https://www.congress.gov/bill/119th-congress/house-bill/1] * Repayment Assistance Plan (RAP) [https://www.savingforcollege.com/article/student-loan-repayment-assistance-plan-rap] * Income-Based Repayment (IBR) Plan [https://studentaid.gov/help-center/answers/article/ibr-plan] * Federal Student Loan Repayment Plans [https://studentaid.gov/manage-loans/repayment/plans] * Educational Choice for Children Act of 2025 [https://www.congress.gov/bill/119th-congress/house-bill/833] * Michigan Scholarship and Grant Programs [https://www.michigan.gov/mistudentaid/programs] * How the One Big Beautiful Bill Act Will Reshape 529 Plans [https://www.kiplinger.com/retirement/retirement-planning/how-the-one-big-beautiful-bill-act-could-reshape-529-plans] * 10 Things to Know About the Trump Savings Account [https://www.morningstar.com/financial-advisors/10-things-know-about-trump-savings-account] * Achieving A Better Life Experience (ABLE) Account Overview [https://www.investopedia.com/terms/a/able-account.asp] Connect with Jim Kruzan:  * (800) 638-6900 * Kaydan Wealth Management [https://www.kaydanwealthmanagement.com/] * LinkedIn: Jim Kruzan [https://www.linkedin.com/in/jameskruzan/] * LinkedIn: Kaydan Wealth Management [https://www.linkedin.com/company/kaydan-wealth-management/] * Facebook: Kaydan Wealth Management [https://www.facebook.com/KaydanWealthManagement/] * Instagram: Kaydan Wealth Management [https://www.instagram.com/kaydanwealth/] * YouTube: Kaydan Wealth Management [https://www.youtube.com/user/Kruzan81D] * Twitter: Kaydan Wealth Management [https://twitter.com/KaydanWealth] Publishing Tags:

New Rules, New Strategies: The OBBBA & Education Planning – Part I (Ep. 42)

For many families, education and retirement happen on the same financial timeline.  The dollars that help a child chase their dreams can just as easily be the dollars that shape your future. That’s why recent education reforms deserve your attention, whether you’re a parent, grandparent, or planning for your own education journey. In part one of this special two-part series, Jim Kruzan, CFP®, CRPC®, explores how the new “One Big Beautiful Bill” reshapes education funding and why it matters for your retirement strategy. From expanded Pell Grants and FAFSA shifts to 529 ownership strategies and lifetime borrowing caps, Jim unpacks what’s changing and how to plan with clarity, not guesswork. Here’s what you’ll learn: * How new student loan rules can affect long-term cash flow * Why 529 ownership decisions can influence aid eligibility * The ripple effects of tuition planning on retirement savings * What the Education Choice for Children Act could mean for families * And more! Resources: * One Big Beautiful Bill Act [https://www.congress.gov/bill/119th-congress/house-bill/1] * Repayment Assistance Plan (RAP) [https://www.savingforcollege.com/article/student-loan-repayment-assistance-plan-rap] * Income-Based Repayment (IBR) Plan [https://studentaid.gov/help-center/answers/article/ibr-plan] * Federal Student Loan Repayment Plans [https://studentaid.gov/manage-loans/repayment/plans] * Educational Choice for Children Act of 2025 [https://www.congress.gov/bill/119th-congress/house-bill/833] * Michigan Scholarship and Grant Programs [https://www.michigan.gov/mistudentaid/programs] * How the One Big Beautiful Bill Act Will Reshape 529 Plans [https://www.kiplinger.com/retirement/retirement-planning/how-the-one-big-beautiful-bill-act-could-reshape-529-plans] * 10 Things to Know About the Trump Savings Account [https://www.morningstar.com/financial-advisors/10-things-know-about-trump-savings-account] * Achieving A Better Life Experience (ABLE) Account Overview [https://www.investopedia.com/terms/a/able-account.asp] Connect with Jim Kruzan:  * (800) 638-6900 * Kaydan Wealth Management [https://www.kaydanwealthmanagement.com/] * LinkedIn: Jim Kruzan [https://www.linkedin.com/in/jameskruzan/] * LinkedIn: Kaydan Wealth Management [https://www.linkedin.com/company/kaydan-wealth-management/] * Facebook: Kaydan Wealth Management [https://www.facebook.com/KaydanWealthManagement/] * Instagram: Kaydan Wealth Management [https://www.instagram.com/kaydanwealth/] * YouTube: Kaydan Wealth Management [https://www.youtube.com/user/Kruzan81D] * Twitter: Kaydan Wealth Management [https://twitter.com/KaydanWealth]