Advertise on podcast: Purposeful Planning with Aspen Wealth Management

"This business is my retirement." It is a sentence advisors hear from business owners all the time, and it raises the question this episode tackles head-on: are you truly ready to sell? Troy Fore, CFP®, walks through the three sides of exit readiness: preparing the business, structuring the deal, and preparing yourself, along with the timeline most owners underestimate. Sources: • Building Exit Readiness: Are You Truly Prepared to Sell? (Aspen Wealth Management): https://www.aspenwealthmgmt.com/resource-center/retirement/business-exit-readiness-planning • Your Personal Wealth Generator: Leveraging Your Small Business to Secure Your Financial Future (Aspen Wealth Management): https://www.aspenwealthmgmt.com/resource-center/estate/leveraging-your-small-business/ • Retirement Planning (Aspen Wealth Management): https://www.aspenwealthmgmt.com/retirement-planning • Financial Planning (Aspen Wealth Management): https://www.aspenwealthmgmt.com/financial-planning • Exit Planning (Aspen Wealth Management): https://www.aspenwealthmgmt.com/exit-planning • Contact Aspen Wealth Management: https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice. Hosted on Acast. See acast.com/privacy for more information.

After decades of steady paychecks, retirement asks a new question: where does the money come from now, and in what order? In this episode of Purposeful Planning, Troy Fore, CFP®, walks through retirement income sequencing, or the order in which you draw from Social Security, pensions, savings, and investment accounts. It is a decision that shapes your taxes, your exposure to market downturns, and how long your money lasts, and getting it right can bring real peace of mind to your retirement income.  Sources:  • Building Your Retirement Paycheck: Income Sequencing Strategies for the First Years of Retirement (Aspen Wealth Management): https://www.aspenwealthmgmt.com/resource-center/retirement/retirement-income-sequencing-strategy  • Creating a Flexible Spending Plan for Your First 10 Years of Retirement (Aspen Wealth Management): https://www.aspenwealthmgmt.com/resource-center/retirement/retirement-spending-plan-first-decade  • Longevity Risk and Financial Security: Planning for a Longer Retirement (Aspen Wealth Management): https://www.aspenwealthmgmt.com/resource-center/retirement/longevity-risk-financial-security/  • You've Done a Good Job Saving It: Do You Know the Best Way to Spend It? (Aspen Wealth Management): https://www.aspenwealthmgmt.com/resource-center/tax/retirement-withdrawal-strategies/  • Contact Aspen Wealth Management: https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  Hosted on Acast. See acast.com/privacy for more information.

April is when you find out what your tax year cost you. Right now, you can still do something about it. There’s still time to review your withholding, look for tax-loss harvesting opportunities, revisit whether itemizing makes sense, plan charitable gifts, account for vesting equity, or evaluate a Roth conversion. The important thing is looking while there are still choices on the table. In this episode of Purposeful Planning, Troy Fore, CFP®, walks through the tax planning moves worth considering before year-end and how they can fit into a broader financial plan.  Sources:  • Mid-Year Tax Planning: Proactive Strategies to Reduce Your Bill Before December – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/tax/mid-year-tax-planning-strategies  • Wash Sale: Avoid This Tax Pitfall – Fidelity: https://www.fidelity.com/learning-center/personal-finance/wash-sales-rules-tax  • Understanding Your Options: RSUs, ISOs, and Your Financial Strategy – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/blog/understanding-your-options/  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice. Hosted on Acast. See acast.com/privacy for more information.

For forty years, the paycheck just showed up. In retirement, you become the one who writes it, and how you handle that job in the first decade shapes everything after. In this episode of Purposeful Planning, Troy Fore, CFP®, walks through how to build a spending plan with flexibility at its core: a real budget, time-based buckets, tax diversification, and guardrails that let your plan bend without breaking.  Sources:  • Creating a Flexible Spending Plan for Your First 10 Years of Retirement – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/retirement/retirement-spending-plan-first-decade  • Understanding Sequence Risk in Retirement, Part 2 – Purposeful Planning podcast: https://shows.acast.com/purposeful-planning-aspen-wealth/episodes/understanding-sequence-risk-in-retirement-part-2  • Longevity Risk and Financial Security: Planning for a Longer Retirement – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/retirement/longevity-risk-financial-security  • Early Retirement and Tax-Smart Roth Conversions – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/retirement/early-retirement-and-tax-smart-roth-conversions  • You’ve Done a Good Job Saving It: Do You Know the Best Way to Spend It? – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/tax/retirement-withdrawal-strategies/  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  Hosted on Acast. See acast.com/privacy for more information.

We spend our working years afraid of dying too soon. In retirement, the bigger risk flips. It becomes living longer than your money does. In this episode of Purposeful Planning, Troy Fore, CFP®, unpacks longevity risk and walks through how to build a retirement plan that can go the distance, whether that is twenty years or forty.  Sources:  • Longevity Risk and Financial Security: Planning for a Longer Retirement – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/retirement/longevity-risk-financial-security  • Global Health Estimates: Life Expectancy and Healthy Life Expectancy – World Health Organization: https://www.who.int/data/gho/data/themes/mortality-and-global-health-estimates  • Understanding Sequence Risk in Retirement, Part 2 – Purposeful Planning podcast: https://shows.acast.com/purposeful-planning-aspen-wealth/episodes/understanding-sequence-risk-in-retirement-part-2  • Phased Retirement: How to Ease Out of Work Without Leaving Money on the Table – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/retirement/phased-retirement-planning-strategy  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice. Hosted on Acast. See acast.com/privacy for more information.

Most money mistakes are not math problems. They are emotional ones. In this episode of Purposeful Planning, Troy Fore, CFP®, looks at why we spend the way we do, how habits formed long ago still drive our choices, and a few simple practices that can help you spend with intention instead of on impulse.  Sources:  • The Psychology of Spending: How Emotions Impact Financial Decisions – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/financial-planning/the-psychology-of-spending-how-emotions-impact-financial-decisions  • The Psychology of Spending – MIT Spectrum (Prof. Drazen Prelec): https://betterworld.mit.edu/spectrum/issues/winter-1999/the-psychology-of-spending/  • Downsizing or Relocating: What’s the Right Move for Your Retirement? – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/retirement/downsizing-or-relocating-retirement  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  Hosted on Acast. See acast.com/privacy for more information.

Building wealth is the first chapter. Passing wealth on for the next generation to hold onto it and grow it is a different challenge entirely. In this episode of Purposeful Planning, Troy Fore, CFP®, looks at why financial literacy, family governance, and honest conversations matter as much as the dollars themselves, and how families can raise children who become capable stewards rather than passive inheritors.  Sources:  • The Role of Education in Preparing Your Children for Wealth Inheritance – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/financial-planning/the-role-of-education-in-preparing-your-children-for-wealth-inheritance  • “Keep the Money Together”: Preparing the Next Generation for Financial Leadership – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/financial-planning/next-generation-financial-leadership  • Reading the Map: Where to Focus During Different Stages of the Financial Journey – Aspen Wealth Management: https://www.aspenwealthmgmt.com/resource-center/blog/different-stages-of-the-financial-journey  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice. Hosted on Acast. See acast.com/privacy for more information.

Not everyone wants to go from full-time work to full stop. Phased retirement is a growing path for people who want to wind down gradually, on their own terms. But easing out of work is not as simple as just cutting back your hours. In today's episode of Purposeful Planning, we walk through what phased retirement actually looks like, the financial decisions it triggers, and how to sequence everything so you don’t leave money on the table.  Sources:  1. https://www.aspenwealthmgmt.com/resource-center/retirement/phased-retirement-planning-strategy   2. https://www.newsweek.com/boomers-gen-x-retire-differently-phased-retirement-1956778   3. https://www.opm.gov/retirement-center/phased-retirement/   4. https://www.ssa.gov/retirement/full-retirement-age   5. https://www.aspenwealthmgmt.com/resource-center/retirement/early-retirement-and-tax-smart-roth-conversions   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  Hosted on Acast. See acast.com/privacy for more information.

If you’re a corporate executive, your compensation package is likely far more complex than just a simple paycheck. Stock options, restricted stock units, deferred compensation, and equity awards can add up to meaningful wealth but only if they’re managed well.   In today's episode of Purposeful Planning, we’ll walk through the key components of executive compensation and what it takes to make sure you’re not leaving money on the table or creating unnecessary tax exposure along the way.  Sources:  1. https://www.aspenwealthmgmt.com/resource-center/investment/executive-compensation-planning-maximizing-your-equity-benefits   2. https://www.aspenwealthmgmt.com/resource-center/blog/understanding-your-options   3. https://www.aspenwealthmgmt.com/resource-center/financial-planning/knowing-how-and-when-to-sell-rsus/   4. https://www.aspenwealthmgmt.com/resource-center/blog/equity-compensation/   5. https://www.irs.gov/pub/irs-drop/rp-12-29.pdf   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  Hosted on Acast. See acast.com/privacy for more information.

Should you stay, downsize, or move to a new state entirely? For many retirees, where and how you live are among the biggest financial decisions you will make. In today's episode of Purposeful Planning, we explore the financial and emotional sides of downsizing and relocation, so you can make the move that best fits your retirement picture.  Sources:  https://www.aspenwealthmgmt.com/resource-center/retirement/downsizing-or-relocating-retirement  https://www.aspenwealthmgmt.com/resource-center/retirement/retirement-lifestyle  https://smartasset.com/data-studies/where-retirees-move-2025  https://turbotax.intuit.com/tax-tips/fun-facts/9-states-with-no-income-tax/c9RZgthD3  https://www.aarp.org/money/retirement/retirees-top-states-2025/   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.  Hosted on Acast. See acast.com/privacy for more information.

If your portfolio includes real estate, a business interest, or private equity, you already know these assets don't behave like stocks and bonds. But are they truly working within your broader financial plan? In today's episode of Purposeful Planning, we'll talk through the strategies and best practices for managing illiquid assets as part of a balanced, diversified financial picture, including how to think about liquidity, tax planning, estate planning, and long-term wealth building.    Sources:     https://www.aspenwealthmgmt.com/resource-center/investment/managing-illiquid-assets https://www.aspenwealthmgmt.com/resource-center/investment/alternative-investments-more-than-stocks-and-bonds https://www.aspenwealthmgmt.com/financial-planning https://www.aspenwealthmgmt.com/investment-management https://www.aspenwealthmgmt.com/tax-planning  https://www.aspenwealthmgmt.com/estate-planning https://www.aspenwealthmgmt.com/resource-center/estate/gifting-strategies-without-hurting-retirement    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.      This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.     Aspen Wealth Management is a registered investment advisor with the SEC.  Hosted on Acast. See acast.com/privacy for more information.

When most people think about building wealth, they picture stocks, bonds, and maybe a savings account. But there's a whole world of alternative investments, from real estate and private equity to collectibles and digital assets, that could play a role in a well-rounded portfolio. In today's episode of Purposeful Planning, we're breaking down what alternative investments are, why they might be worth considering, and what you need to think through before diving in.    Sources:      https://www.aspenwealthmgmt.com/resource-center/investment/alternative-investments-more-than-stocks-and-bonds https://www.aspenwealthmgmt.com/  https://www.aspenwealthmgmt.com/investment-management    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.      This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.     Aspen Wealth Management is a registered investment advisor with the SEC.    This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

Health insurance costs are rising for many Americans following the expiration of enhanced ACA subsidies at the end of 2025. In this episode of Purposeful Planning, we explore how the Premium Tax Credit works, who qualifies, and the options available to those who no longer receive enhanced subsidies. Whether you're self-employed, in early retirement, or simply looking for affordable coverage, understanding these changes is crucial for managing your healthcare costs in 2026.    Sources:      https://www.irs.gov/credits-deductions/premium-tax-credit-ptc-overview#:~:text=The%20premium%20tax%20credit%20%E2%80%93%20also%20known,with%20Form%208962%2C%20Premium%20Tax%20Credit%20(PTC). https://openenrollment.healthcare/insurance-marketplace-healthcare-quotes/  https://www.cms.gov/marketplace/outreach-and-education/health-savings-account.pdf  https://www.healthcare.gov/glossary/high-deductible-health-plan/  https://www.aspenwealthmgmt.com/  https://www.aspenwealthmgmt.com/financial-planning  https://www.aspenwealthmgmt.com/blog/webinars/from-countdown-to-confidence-your-retirement-transition-checklist https://www.aspenwealthmgmt.com/resource-center/tax/understanding-the-premium-tax-credit-are-you-eligible    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.      This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.     Aspen Wealth Management is a registered investment advisor with the SEC.    This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. Hosted on Acast. See acast.com/privacy for more information.

Tax law changes have made it harder for many people to benefit from charitable deductions, but that hasn't stopped Americans from supporting the causes they care about. In this episode of Purposeful Planning, we explore how donor-advised funds offer a flexible, tax-efficient way to maximize your philanthropic impact. From batching contributions to understanding the new restrictions under OBBBA, discover strategies that help you give more effectively while potentially reducing your tax bill.    Sources:      https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2026-including-amendments-from-the-one-big-beautiful-bill  https://taxnews.ey.com/news/2025-2004-irs-and-treasury-2025-2026-priority-guidance-plan-includes-various-projects-applicable-to-tax-exempt-organizations#:~:text=Guidance%20under%20IRC%20Section%204966%20addressing%20taxable,other%20guidance%20items%20on%20DAFs%20being%20removed https://taxfoundation.org/blog/charitable-deduction-big-beautiful-bill/  https://www.aspenwealthmgmt.com/investment-management https://www.aspenwealthmgmt.com/about-us/#ourteam  https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth  https://www.aspenwealthmgmt.com/resource-center/financial-planning/donor-advised-funds-charitable-giving    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.      This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.     Aspen Wealth Management is a registered investment advisor with the SEC.    This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.

Early retirement is a dream for many Americans, but making it work requires more than just saving enough money; it requires smart tax strategies. In this episode of Purposeful Planning, we explore how Roth conversions can help early retirees reduce their lifetime tax burden and create more tax-free income in retirement. From understanding the five-year rule to timing your conversions strategically, discover whether this approach makes sense for your situation.    Sources:      https://www.aspenwealthmgmt.com/retirement-planning https://www.aspenwealthmgmt.com/tax-planning https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds  https://www.financialplanningassociation.org/learning/publications/journal/MAY23-arithmetic-roth-conversions-OPEN  https://smartasset.com/taxes/conversion-tax-planning-strategy  https://www.aspenwealthmgmt.com/about-us  https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth  https://www.aspenwealthmgmt.com/resource-center/estate/gifting-strategies-without-hurting-retirement  https://www.aspenwealthmgmt.com/resource-center/retirement/early-retirement-and-tax-smart-roth-conversions    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.      This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.     Aspen Wealth Management is a registered investment advisor with the SEC.    This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.  Hosted on Acast. See acast.com/privacy for more information.