Show Notes for this Episode: 2020 is one of those years where we could be on the verge of major tax changes next year and in future years. Unfortunately, we won’t know more about this until 2021. I don’t like to speculate or make bets on what could happen. It’s best to go with what we know to be true for the 2020 tax year. With a Biden administration and a Democratic Congress, we could see the Biden Tax Plan having a much better chance of getting implemented. Again, we won’t know this until next year! The end of the year is a really good time to do tax planning. There are a handful of tax planning strategies that might make sense for you to take advantage of based on your situation. However, I also recommend that you do tax planning throughout the year. There are always potential opportunities to reduce your taxes if you stay ahead of this each year. Although CPA’s are great for doing tax returns, many of them do not have the time to help you plan ahead on your taxes strategically. This is where a Certified Financial Planner™ can really be valuable. An experienced CFP® can help you with tax planning strategies throughout the tax year. What you will learn in this episode: How to better understand the tax bracket system and where you fall (see 2020 tax brackets below) Tips for adjusting your withholding for 2020 Opportunities to consider if you’re income was lower this year and/or you lost your job due to the pandemic An easy way to lower your tax bill whether you itemize or take the standard deduction Additional retirement savings opportunities to take advantage of before year-end Listen and subscribe to the podcast in your favorite podcasting app: Apple Podcasts | Spotify | Google Podcasts

LGBTQ Midlife Money

Year-end Tax Planning for Women Professionals (2020 Edition)

In this episode, Stephanie tackles a listener question; how to invest a lump sum of money. Should you invest all at once even with markets at an all time high? Or are you better off investing in installments over a period of time? Find out as Stephanie shares her thoughts on this important and timely question. Listen and subscribe to the podcast in your favorite podcasting app: Apple Podcasts | Spotify | Google Podcasts Are you a woman professional in your 40s, 50s, or 60s? Join the virtual Women Retire Smart Community and learn more about how you can retire smart, secure, and happy!

Q&A: How to Invest a Lump Sum

 Show Notes for this Episode: In this episode, I interview Danielle Roberts. Danielle is a Medicare expert and bestselling author of the book, 10 Costly Medicare Mistakes You Can't Afford to Make. Danielle is a wealth of knowledge when it comes to Medicare. Medicare is one of the most important benefits we are eligible for in retirement. It covers our primary healthcare from age 65 and beyond. However, Medicare is very complex. There are many ins and outs to understand when it is your time to either sign-up for or change your Medicare benefits plan. In this episode, you will learn: when to sign-up for Medicare (and why you can't miss this deadline) how to enroll in Medicare decoding the Medicare alphabet soup what are the costs of Medicare insurance (no, it's not free) do you need a Medicare supplement plan? the difference between a Medicare Supplement (Medigap) and Medicare Advantage plan the most comprehensive Medicare Supplement plan today what you need to know about Medicare open enrollment how earned income at age 65+ can impact your Medicare premiums potential changes to Medicare in the future More information about Danielle: Danielle's #1 bestselling book 10 Costly Medicare Mistakes Danielle is co-founder of Medicare brokerage agency Boomer Benefits The Boomer Benefits Facebook Group (where you can ask your questions!) Find and connect with Danielle on Facebook, LinkedIn, and Twitter Want to join a community of like-minded women in midlife who are taking charge of their wealth? Learn more about the Women Retire Smart™ Community! 

The Ins and Outs of Medicare (and Costly Mistakes to Avoid)

In this episode, I share my thoughts on the recent presidential election and the current state of affairs with Covid, the economy, the markets, and the road ahead. Show notes at https://retirementmoneygal.com/69

A Change Would Do You Good

Amy Morin is a psychotherapist and international bestselling author of the books "13 Things Mentally Strong People Don't Do" and "13 Things Mentally Strong Women Don't Do". In this episode, Amy shares her insights on improving your mental strength, aging, and reinvention in midlife. Show notes at https://retirementmoneygal.com/68

Amy Morin on Mental Strength, Aging, and Reinvention in Midlife

I've been seeing and hearing way too many "get rich quick" investment opportunities on television, radio, and the internet. This happens in times of financial hardship or, a public health crisis! In this episode, I provide some tips on you what to look out for to protect yourself. Show notes at https://retirementmoneygal.com/67

The Dangers of Shiny Object Investments

Did you know there are 4 types of retirees? I was fascinated to discover this in a new book I've been reading. Hop on this journey with me as we think about our future selves and our "third age" of life. The good news? You have time to influence your trajectory. Show notes https://retirementmoneygal.com/66

What Kind of Retired Person Will You Be?

In this episode, I share what to expect regarding the possible outcomes for the upcoming Presidential election as well as an overview of the Biden Tax Plan. Show notes at https://retirementmoneygal.com/65

The Biden Tax Plan - What You Need to Know

In this episode, I interview entrepreneur Brian Clark. He's the founder of Copyblogger and Further.net...a very successful 'serial' entrepreneur. Brian and I have known each other for a number of years. We're both GenXers (50+) and fascinated with the opportunities and challenges of midlife. Tune in as we talk about living your best midlife, keeping your brain and body active, and exploring a work-optional retirement. We also share a few personal stories! Show notes at https://retirementmoneygal.com/64

Living Your Best Midlife and Postponing Retirement

To kick off Season 5 of the show, I wanted to honor a very special person who recently left this earth. In this episode, I share 5 ways that U.S. Supreme Court Justice, Ruth Bader Ginsburg, achieved greater gender equality. I also share a few RBG quotes that I think you will enjoy! Show notes at https://retirementmoneygal.com/63

5 Ways RBG Achieved Greater Gender Equality

In this episode, I am joined by New York Times Bestselling author and behavioral psychologist, Dr. Daniel Crosby. Daniel writes and speaks about the intersection of human psychology and investing. In this episode, learn about the 4 behavioral biases that can impair your investment success and much more! Show notes at https://retirementmoneygal.com/62

Becoming a Better Investor by Managing Your Behavior with Dr. Daniel Crosby

2020 has been a roller coaster of a year! The financial markets have been no exception. In this episode, I share 3 tips that can help you become a more resilient investor when it's tempting to let your emotions take over. Show notes at https://retirementmoneygal.com/61

3 Tips for Mastering Scary Markets

Welcome to the first Q&A episode of the Retirement Money Gal Podcast. I'll be doing at least one Q&A each month to answer YOUR questions, and I'll also answer questions that my clients have where I think you might also benefit from hearing my thoughts! To submit your financial, retirement, or investment question email me at stephanie@retirementmoneygal.com. Show notes at https://retirementmoneygal.com/60

Q&A: Should You Pay Off Your Mortgage?

There is a lot at stake with the upcoming 2020 Presidential election. With the country so divided, emotions are running high and you are likely feeling concerned about how the outcome could impact you personally. In this episode, I share tips for how to keep your emotions in check and financially prepare for what's ahead. I also look back on how markets have performed in past election years! Show notes at https://retirementmoneygal.com/59

The Presidential Election and Your Retirement Plan

Welcome to the "Retirement Money Gal" podcast! (notice the name change) In this episode, Stephanie shares why she's changing the name of the show as well who it's the best fit for. Stephanie also shares her thoughts on what retirement means today and why we need to "reframe" retirement for women. Hint; this is not your parent's retirement! Join the Women Retire Smart Community: https://community.retirementmoneygal.com

Let's Reframe Retirement for Women

Are you an LGBTQ professional in midlife? Do you want to make better financial decisions, invest smarter, minimize taxes, and retire well? If so, this podcast is for you. Host Stephanie Sammons is an experienced LGBTQ Certified Financial Planner™ and founder of the Sammons Wealth Management Company. On the LGBTQ Midlife Money Podcast, you will gain valuable insights from an LGBTQ perspective on how to take charge of your financial life and live your best midlife as you move to and through your retirement years. Learn more at www.lgbtqmidlifemoney.com

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LGBTQ Midlife Money

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