Real Advice For Real People.
With over 90 years of combined wealth management experience, The Schutz Perigo Group works with clients located across the country to build, protect, and eventually transfer wealth in the most responsible and efficient ways possible. We work diligently with clients to prepare comprehensive financial plans and investment solutions tailored to their individual needs. You only get one chance at retirement – we encourage you to make sure you’re working with the right professionals to ensure yours is a success!
As you probably know, John & David teach several retirement planning and Social Security classes at USI each year. These classes cover a variety of topics, including estate planning, investments, taxes, education planning, Medicare, and much more. The Passport to Retirement class offers 7.5 hours of in-class instruction over a three week period.
This year, as a result of the pandemic, we taught our first virtual class based around Social Security. We received very good feedback from attendees who enjoyed not only the safety from being virtual this year, but also the convenience of being able to watch from the comfort of their home.
We decided that we would try something new, which is an education series covering a variety of topics we believe are most useful. John and David plan to record 30-45 minute videos over the next several weeks that you can watch at your convenience if it is something that interests you. The first one recorded talks about some of the basics of estate planning. A link is included below if you would like to watch.
In this 20 minute video John and David discuss opportunities that you can discuss with your tax preparer, including tax brackets, capital gains and qualified dividends, and many other topics. They also provide some suggestions for possibly reducing your taxable income. David & John also provide examples of how the information may apply to you.
This 15 minute video will go over your options for health insurance if you decide to retire early and don't have access to Medicare yet.
To make it easier for you to find exactly what you are looking for, here is a list of when the different topics within the Social Security video start:
Understanding the value of Social Security: 3:40
Will Social Security be there for me?: 8:12
How much can I expect to receive?: 13:10
Spousal benefits: 33:30
Survivor benefits: 39:00
Other considerations: 47:00
Taxation of benefits: 50:20
Earnings test (if still working and drawing Social Security before Full Retirement Age): 59:12
Medicare Part B Considerations: 1:02:36
Will Social Security be enough to live on in retirement? 1:07:45
Social Security Timeline: 1:09:00
Fact Sheet & FAQs: 1:10:04
Closing Comments: 1:17:00
If you would like to go to a specific section on Long Term Care, here are the section times. Feel free to skip to what interests you the most.
2:07 - 4:37 What is Long-Term Care
4:37 - 10:05 How Much Does Long-Term Care Cost?
10:05 - 20:47 What Are Your Options to Pay for Long-Term Care?
20:47 - 23:03 Medicare?
23:03 - 31:20 Medicaid
If you would like to go to a specific section on Estate Planning, here are the section times. Feel free to skip to what interests you the most.
1:20 - 3:10 What's in your Estate?
3:10 - 10:05 Wills & Probate
10:05 - 14:33 Critical Estate Planning Documents
14:33 - 18:07 Payable on Death / Transfer on Death Accounts
18:07 - 21:23 Estate Distribution Options
21:23 - 26:00 Estate Taxes
26:00 - 31:50 Step-Up in Basis vs Carryover Basis Rules
31:50 - 33:30 Gifting Assets
33:30 - 36:20 Intestacy (If you don't have a will or beneficiaries on assets)
36:20 - 37:31 Trusts
37:31 - 42:13 Life Insurance
42:13 - 44:53 Qualified Charitable Distributions (QCDs)
Our first priority is helping you take care of yourself and your family. We want to learn more about your personal situation, identify your dreams and goals, and understand your tolerance for risk. Long-term relationships that encourage open and honest communication have been the cornerstone of my foundation of success.
Many people often wonder what the current tax brackets are, or what various deductions or limits are for filing taxes. We have much of the information you might need in two quick, concise tables. One is the Key Financial Data for 2021 and the other in a Quick Reference Guide for Medicare. Both are attached here. Please feel free to contact our office if you have any questions about the information contained.
2021 Key Financial Data
2021 Medicare Quick Reference Guide
R.W. Baird does not offer tax or legal advice. Please consult your tax advisor or attorney before making any decision that may affect your tax or legal situation.
From day one, we’re an advocate for you and your legacy. We believe in your success because we know how hard you’ve worked to get here, and we’re confident about everything you will accomplish in the future. Through life’s ups and downs, we will always be here for you with everything you need to plan for you and your family today and tomorrow.
Please find attached below the 2021 Tax Tables. If you have any questions, please don't hesitate to give our team a call.
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