Advertise on podcast: The Truth About Taxes and Retirement

What if your gifts to charity could come from money the IRS never gets to tax? In this episode of The Truth About Taxes & Retirement, Barry Watts walks through four strategies for charitable giving: qualified charitable distributions from your IRA, donating appreciated stock instead of cash, bunching several years of gifts into a donor advised fund, and charitable trusts. He covers the QCD rules for 2026, how a QCD can count toward your required minimum distribution, why the bigger standard deduction cost so many people their charitable deduction, and how he and Kelly give today. Our goal is to have a plan for giving that leaves more for the causes you care about. ????  Watch the full episode here: https://youtu.be/PceSCOBUAsc Learn more about building a retirement strategy here: https://wealthcarecorp.com/contact/ Get Watts on Wealth the ???? : https://a.co/d/bETW4aY Website: https://wealthcarecorp.com/ Facebook: https://www.facebook.com/WealthCareCorp YouTube: https://www.youtube.com/@WattsOnWealth ????  Podcast: Watts on Wealth Radio Show https://pod.link/1737485633 ????  Podcast: The Truth About Taxes and Retirement https://pod.link/1520277576 Every Dollar App: https://www.ramseysolutions.com/ramseyplus/everydollar J. Barry Watts Springfield’s WealthCare Corporation #CharitableGiving #QCD #TruthAboutTaxesAndRetirement

If you like the Roth IRA, you're going to love the health savings account. Money goes in tax-deductible, grows tax-free, and comes out tax-free for medical expenses. Barry Watts calls it the tax triple threat. In this episode of The Truth About Taxes & Retirement, Barry explains what an HSA is and who qualifies for one in 2026, including the minimum deductible and out-of-pocket limits your health plan has to meet. He covers how much you can put in for 2026 ($4,400 for yourself, $8,750 for a family, plus $1,000 more for each spouse who's 55 or older), and where the account can be held and invested. He also tells what happened when he and his wife Kelly invested their own HSA, walks through what the account can pay for, explains why he keeps every medical receipt, and covers what happens to the money when you die. If you have a high-deductible health plan, you should know whether an HSA belongs in your retirement strategy. Learn more about building a retirement strategy here: https://wealthcarecorp.com/contact/ Get Watts on Wealth the ???? : https://a.co/d/bETW4aY Website: https://wealthcarecorp.com/ Facebook: https://www.facebook.com/WealthCareCorp YouTube: https://www.youtube.com/@WattsOnWealth ???? Podcast: Watts on Wealth Radio Show https://pod.link/1737485633 ???? Podcast: The Truth About Taxes and Retirement https://pod.link/1520277576 Every Dollar App: https://www.ramseysolutions.com/ramseyplus/everydollar J. Barry Watts Springfield’s WealthCare Corporation

Who really owns your retirement account? If you have a million dollars in your IRA, you have a partner in it, and that partner is the IRS. And the lower tax bracket you were told to expect in retirement may never materialize. In this episode of The Truth About Taxes & Retirement, Barry Watts explains why he calls that one of the great lies of retirement planning. He sees very few retirees in a lower tax bracket than when they were working, and the better you save, the more tax you may end up paying. He walks through why $300,000 to $400,000 of a million-dollar IRA belongs to the IRS, why tax brackets aren't written in stone, and how required minimum distributions take away your control over when and how much you pay. Barry also covers two more taxes your retirement withdrawals can trigger: tax on your Social Security, and the Medicare surcharge known as IRMAA. Then he explains what WealthCare calls a Strategic Roth Integration, which is a planned Roth conversion, and how to find out if one makes sense for you. Saving for retirement is half the plan. Knowing how much of it is really yours is the other half. Learn more about building a retirement strategy here: https://wealthcarecorp.com/contact/ Get Watts on Wealth the ???? : https://a.co/d/bETW4aY Website: https://wealthcarecorp.com/ Facebook: https://www.facebook.com/WealthCareCorp YouTube: https://www.youtube.com/@WattsOnWealth ????  Podcast: Watts on Wealth Radio Show https://pod.link/1737485633 ????  Podcast: The Truth About Taxes and Retirement https://pod.link/1520277576 J. Barry Watts Springfield’s WealthCare Corporation #TaxBrackets #RetirementPlanning #TruthAboutTaxesAndRetirement

One tax strategy can help. But the real opportunity may come from how your tax strategies work together. In this episode of The Truth About Taxes and Retirement, Barry Watts continues his series on stacking tax strategies by adding the IRA as the next layer after the 401(k). Barry explains who may qualify to contribute to an IRA, the difference between deductible and nondeductible contributions, Roth versus traditional IRAs, and why the pro rata rule can create an unexpected tax complication when converting money to a Roth. He also discusses SEP IRAs and how they may provide additional planning opportunities for certain business owners and self-employed individuals. The goal is not to find one tax “silver bullet.” It is to understand how several strategies may work together over time as part of a larger retirement tax plan.  ???? Listen to the full episode of The Truth About Taxes and Retirement: https://pod.link/1520277576 Learn more about building a retirement strategy here: https://wealthcarecorp.com/contact/ Get Watts on Wealth the ????: https://a.co/d/bETW4aY  Website: https://wealthcarecorp.com/  Facebook: https://www.facebook.com/WealthCareCorp  YouTube: https://www.youtube.com/@WattsOnWealth  ????️ Podcast: Watts on Wealth Radio Show https://pod.link/1737485633  ????️ Podcast: The Truth About Taxes and Retirement https://pod.link/1520277576  Every Dollar App: https://www.ramseysolutions.com/ramseyplus/everydollar  J. Barry Watts Springfield’s WealthCare Corporation #Inflation #RetirementPlanning #WattsOnWealth

One tax strategy may help. Several working together can make a much bigger difference. In this episode of The Truth About Taxes and Retirement, Barry Watts introduces the idea of “stacking” tax strategies and starts with one of the most common retirement accounts: the 401(k). He explains why small planning decisions can become more powerful when they are combined over time. Barry also discusses employer matching, when to contribute, Roth versus traditional 401(k) contributions, how investment choices may need to change as retirement gets closer, and why your 401(k) should be considered as part of a larger retirement tax strategy. This is the first step in a new series focused on building tax strategies that work together rather than searching for one “silver bullet.” Learn more about building a retirement strategy here: https://wealthcarecorp.com/contact/ Get Watts on Wealth the Book: https://a.co/d/bETW4aY  Website: https://wealthcarecorp.com/  Facebook: https://www.facebook.com/WealthCareCorp  YouTube: https://www.youtube.com/@WattsOnWealth  Podcast: Watts on Wealth Radio Show https://pod.link/1737485633  Podcast: The Truth About Taxes and Retirement https://pod.link/1520277576  J. Barry Watts Springfield’s WealthCare Corporation #Inflation #RetirementPlanning #WattsOnWealth

Does the word “taxes” make you feel intimidated and overwhelmed right away? If yes, you’re not alone! It’s completely understandable. After all, the US tax code is 70,000+ pages long. As someone who deals with taxes daily, J. Barry Watts is here to enlighten you about some tips and strategies you might not know regarding taxes (so it feels less scary to you). Barry discusses: What makes 50% of Americans subject to taxes when they die How Social Security taxes and Medicare premiums are calculated Multiple ways to make your charitable giving more tax-efficient Avoiding a huge mistake while transferring assets (like a home) to the next-gen And more Connect With Barry Watts: Schedule an Introductory Call [email protected]  (417) 882-1726 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts  YouTube: Watts On Wealth The post What People Don’t Know About Taxes (Ep. 69) appeared first on Wealthcare.

Do you ever feel that taxation is skewed against the average citizen? Or that wealthy people don’t pay their fair share? It’s because they know how to use the tax code to their advantage! In this episode, J. Barry Watts peels back the layers of the tax system and explains how to apply the tax code’s provisions to your benefit — just like the wealthy. Barry discusses: Why people don’t trust the government with their tax money What it means to find the “red lights” and “green lights” in the tax code Little-known tax-saving strategies (such as investing in rare earth minerals) Additional examples of using the tax code to one’s advantage, such as segregated asset plans and the “Augusta Rule” Questions you should be asking your CPA And more Connect With Barry Watts: Schedule an Introductory Call [email protected]  (417) 882-1726 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts  YouTube: Watts On Wealth The post Why the Wealthy Are Perceived to Not Pay Their Fair Share of Taxes (and you don’t have to, either.) (Ep. 68) appeared first on Wealthcare.

What do you need to feel confident in retirement? Is it $1 million? $2 million? Actually, it’s not about how much money you accumulate, but rather having a retirement income plan. Join J. Barry Watts for an insightful conversation about converting your lifetime savings into a consistent income source that lasts until the end of your life. Barry discusses: The first step of a retirement income plan — your ‘sitting on the porch’ number The overwhelming shift from saving to spending your hard-earned nest egg How to be psychologically and relationally ready for retirement How interest rates might impact your retirement income Common mistakes to avoid during the distribution phase of retirement And more Resources: Three Ways to Lower Your Taxes in Retirement Connect With Barry Watts: Schedule an Introductory Call [email protected]  (417) 882-1726 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts  YouTube: Watts On Wealth The post Planning Your Retirement Income (Ep. 67) appeared first on Wealthcare.

Do you have insurance to secure your family’s financial future? If yes, when was the last time you reviewed your policy? It’s Life Insurance Awareness Month! Let’s look at how insurance plays a crucial role in your overall retirement plan. In this episode, J. Barry Watts delves into the intricacies of life insurance and the difference between death insurance and life insurance. Barry discusses: Temporary vs. permanent insurance (how to know what’s right for you) Ways life insurance can create tax-free income How to use your death benefit while you’re living (Accelerated Death Benefit) A peak into Barry’s personal life insurance policy, including monthly payments and death benefit And more Connect With Barry Watts: Schedule an Introductory Call [email protected]  (417) 882-1726 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts  The post The Difference Between Death Insurance vs Life Insurance (Ep. 66) appeared first on Wealthcare.

The U.S. national debt has reached $32 trillion! There is only one way to pay off this massive debt — by raising taxes. In fact, tax rates will likely see a sharp rise on January 1st, 2026. In this episode, J. Barry Watts explains how you can tackle the rising tax problem with an effective strategy that many people overlook. Barry discusses: Eye-opening statistics that point to higher tax rates in the future A major tax issue with IRAs and 401(k)s Actionable ideas to protect yourself from the rising tax problem Two ways to achieve tax-free growth on your retirement savings And more Resources: Free Retirement Toolkit Connect With Barry Watts: Schedule an Introductory Call [email protected]  (417) 882-1726 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts The post Don’t Miss this Opportunity to Pay Less in Taxes (Ep. 65) appeared first on Wealthcare.

What do you think is your number one expense in retirement? (Hint: It’s not healthcare.) If you said taxes, you guessed it right! Healthcare costs pale in comparison to what you pay in taxes during retirement. In this episode, J. Barry Watts helps you understand strategic tax planning, how it differs from tax compliance, and how the right team of experts can make it incredibly simple for you — so you can pay less taxes now and in retirement. Barry discusses: Four signs to determine if your tax professional is working for you or the IRS The difference between tax strategists and CPAs (expertise and approach to tax planning) Why you should NOT be afraid of audits How to know if a tax strategy is legitimate And more Connect With Barry Watts: Schedule an Introductory Call [email protected]  (417) 882-1726 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts  The post Paying Less Taxes Now & In Retirement (Ep. 64) appeared first on Wealthcare.

Have you ever seen a rat’s nest? It is tangled, messy, and unorganized. Your retirement can end up looking just like a rat’s nest if you don’t plan properly! Your Social Security, pension, taxes, Medicare…everything entangled into a chaotic mess. In this episode, J. Barry Watts shares a six-step process to untangle the retirement rat’s nest, so you can retire with clarity and confidence. Barry discusses: Why financial planning is a lot more than just “managing money” How to build a tax-efficient income that lasts until you’re 100 years old Planning for healthcare and long-term care How to leave behind a lasting legacy that extends beyond material possessions And more Connect With Barry Watts: Schedule an Introductory Call [email protected]  (417) 882-1726 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts The post Untangling the Retirement Rat’s Nest (Ep. 63) appeared first on Wealthcare.

Are you struggling to navigate Medicare? You’re not alone. The complex web of rules, acronyms, and jargon involved in this enigmatic government program leaves many scratching their heads! In this episode, J. Barry Watts demystifies Medicare and helps you make informed decisions for choosing the right plan and meeting your healthcare needs cost-effectively. Barry discusses: The different types of Medicare plans (Parts A, B, C and D) How to pay for expenses that are NOT covered by Medicare Medicare Supplement vs. Medicare Advantage plans (how to know what’s right for you) When and how you can enroll for Medicare And more Connect With Barry Watts: Schedule an Introductory Call [email protected]  (417) 882-1726 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts The post Demystifying Medicare (Ep. 62) appeared first on Wealthcare.

You can’t afford to run out of money in retirement! When you’ve quit your job and stopped receiving a paycheck, you must protect your nest egg for the rest of your life. In this part three of a three-part series called The Three Don’ts of Retirement, J. Barry Watts shares how to build a retirement income plan and avoid running out of money. Barry discusses: How to build an income plan around your Sit-On-The-Porch number How people might accidentally run out of money in retirement Three key factors that drive your retirement income (regardless of what the stock market does) And more Resources: The Three Don’ts: Burden Your Family (Ep. 59) The Three Don’ts: Overpay Your Taxes (Ep. 60) Connect With Barry Watts: Schedule an Introductory Call [email protected]  800-278-1755 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts The post The Three Don’ts: Don’t Run Out of Money (Ep. 61) appeared first on Wealthcare.

Do you think taxes are going up or down over the course of your retirement?  After surveying thousands of people, we found that overpaying in taxes is one of the greatest concerns among those preparing for retirement. In this part two of a three-part series called The Three Don’ts Of Retirement, J. Barry Watts explores ways to reduce your total tax bill throughout your retirement, especially with the current income tax rates expected to rise in the future. Barry discusses: The problem with IRAs and 401(k)s and their impact on retirement savings Why required minimum distributions (RMDs) are like a ticking tax time bomb strapped to your retirement How to take advantage of tax-free accounts Latest changes in tax rates and brackets And more Resources: The Three Don’ts: Burden Your Family (Ep. 59) Connect With Barry Watts: Schedule an Introductory Call [email protected]  800-278-1755 WealthCareCORP.com LinkedIn: J Barry Watts LinkedIn: WealthCareCorporation Twitter:@jbarrywatts The post The Three Don’ts: Overpay Your Taxes (Ep. 60) appeared first on Wealthcare.