Latest Episodes
The most recent episodes — sign up to get AI-powered summaries of each one.
- 3 days ago14 min
Mastering RMDs: Tax-Smart Strategies for Your Retirement
Required Minimum Distributions (RMDs) don't have to take you by surprise or jeopardize your retirement strategy. In this episode of Protect and Grow Chicagoland Retirement, host Peter sits down with Certified Financial Planner™ Tim Stearns, CFP®, founder of TJ Stearns, Inc., to tackle the critical rules, deadlines, and tax implications surrounding RMDs. Together, they dispel common myths, discuss proactive moves like Roth conversions and Qualified Charitable Distributions (QCDs), and highlight key age milestones—including the shift to age 75 in 2033. Learn how to take control of your retirement income, protect your hard-earned savings from unnecessary taxation, and align your assets with your personal goals rather than the IRS's schedule. For more updates on when Tim Stearns uploads a new video follow these social medias Facebook - https://www.facebook.com/TJStearnsInc/?ref=aymt_homepage_panel If you prefer to listen to the videos they will be posted in audio form on this page. https://protectandgrow.libsyn.com/site?_ga=2.261998026.658482677.1678457675-23497610.1666730944 DISLCAIMER: Securities offered through Crown Capital Securities, L.P. Member FINRA / SIPC OSJ
- 1 weeks ago14 min
Protect and Grow: Year-End Tax Actions, RMD Rules, and Portfolio Rebalancing
As the calendar year comes to a close, proactive financial planning can make a meaningful difference in your long-term retirement outlook. In this episode of Protect and Grow Chicagoland Retirement, host Peter Richon sits down with Tim Stearns, CFP, founder of TJ Stearns, Inc., to review essential year-end tasks, tax-planning opportunities, and strategies for entering the new year on structured financial footing. Tim and Peter break down the distinction between reactive tax preparation and forward-thinking tax strategy. They explore key deadlines and actionable considerations—from managing Required Minimum Distributions (RMDs) and evaluating strategic Roth conversions to rebalancing market risk and reviewing personal budgets before stepping away from a paycheck. Key Topics Covered in This Episode: Roth Conversions vs. Contributions: Evaluating tax bracket capacity, future RMD exposure, and potential Medicare IRMAA impacts before the December 31 deadline. Managing RMDs & QCDs: Meeting mandatory distribution rules and utilizing Qualified Charitable Distributions (QCDs) starting at age 70½ to support charitable goals efficiently. 401(k) and HSA Deadlines: Maximizing employer matches, catch-up contributions, and health savings account options before the year ends. Tax-Loss Harvesting & Portfolio Rebalancing: Managing realized capital gains, avoiding wash sale rules, and aligning investment risk with current age and retirement timelines. Budgeting & Future Outlook: Preparing for large upcoming expenses, addressing high-interest debt, reviewing insurance open enrollment, and updating beneficiary designations for the year ahead. For more updates on when Tim Stearns uploads a new video follow these social medias Facebook - https://www.facebook.com/TJStearnsInc/?ref=aymt_homepage_panel If you prefer to listen to the videos they will be posted in audio form on this page. https://protectandgrow.libsyn.com/site?_ga=2.261998026.658482677.1678457675-23497610.1666730944 DISLCAIMER: Securities offered through Crown Capital Securities, L.P. Member FINRA / SIPC OSJ
- 2 weeks ago12 min
Replacing Your Paycheck: Managing Income, Taxes, and Risk in Retirement
What happens when your 30- or 40-year paycheck finally stops? Moving from saving for retirement to spending in retirement requires a fundamental shift in strategy. In this episode of Protect and Grow Chicagoland Retirement, host Peter sits down with Certified Financial Planner Tim Stearns, CFP, from TJ Stearns, Inc., to answer one of the most critical questions pre-retirees face: how to create a reliable, predictable income stream in retirement. Tim breaks down why building a retirement income plan starts with your actual spending needs rather than overall investment balances. Together, they explore how to map out essential versus discretionary expenses, navigate market volatility, reduce lifetime tax burdens, and account for unforeseen healthcare costs. In this episode, you'll learn: Accumulation vs. Distribution: Why generating retirement income requires a completely different approach than accumulating wealth. Building Your Income Blueprint: How to inventory foundational income sources—like Social Security, pensions, and annuities—and bridge remaining income gaps through portfolio withdrawals. Mitigating Retirement Risks: How to protect your portfolio against market downturns, sequence of returns risk, and inflation using cash reserves and bucket strategies. Tax Strategies & Roth Conversions: How to take advantage of low tax brackets before future tax code changes, Medicare IRMAA thresholds, and Required Minimum Distributions (RMDs). Healthcare & Long-Term Care: Planning for out-of-pocket costs not covered by Medicare, including dental, vision, hearing, and long-term care expenses. For more updates on when Tim Stearns uploads a new video follow these social medias Facebook - https://www.facebook.com/TJStearnsInc/?ref=aymt_homepage_panel If you prefer to listen to the videos they will be posted in audio form on this page. https://protectandgrow.libsyn.com/site?_ga=2.261998026.658482677.1678457675-23497610.1666730944 DISLCAIMER: Securities offered through Crown Capital Securities, L.P. Member FINRA / SIPC OSJ
- 3 weeks ago11 min
Structuring Your Retirement Success 📐💰
A successful retirement doesn't happen by accident—it takes a solid structure. 🏗️ Whether you're nearing retirement or already enjoying your golden years, host Tim Stearns breaks down the essential strategies needed to build, protect, and optimize your financial foundation. 🛡️ From organizing income streams and tax-efficient strategies to risk management and estate planning, we share actionable insights so you can retire with confidence and complete peace of mind. 📈🏖️ 📲 Hit subscribe to start structuring your path to lifelong financial independence today! 🎯📊 For more updates on when Tim Stearns uploads a new video follow these social medias Facebook - https://www.facebook.com/TJStearnsInc/?ref=aymt_homepage_panel If you prefer to listen to the videos they will be posted in audio form on this page. https://protectandgrow.libsyn.com/site?_ga=2.261998026.658482677.1678457675-23497610.1666730944 DISLCAIMER: Securities offered through Crown Capital Securities, L.P. Member FINRA / SIPC OSJ
- Oct 10, 202612 min
Protect & Grow: Maximizing Your Social Security Benefits with Tim Stearns
In this episode of Protect and Grow Chicagoland Retirement, host Peter and Tim Stearns, CFP®, tackle one of the single biggest financial choices you'll make: when and how to claim Social Security. Because you only get one shot at an ideal retirement, taking a knee-jerk approach to claiming can lead to permanent benefit reductions and lifelong regrets. Tim breaks down the trade-offs between claiming early at age 62 versus waiting until Full Retirement Age (FRA) or age 70 for delayed retirement credits. They discuss average life expectancies, break-even calculations, and the hidden cost of early claiming—including a National Bureau of Economic Research estimate showing median losses of $182,000 in lifetime discretionary spending. Finally, Tim explains how Social Security timing must be coordinated with tax planning, Roth conversions, and investment withdrawals in a comprehensive written retirement blueprint. Key Takeaways: An Income Decision, Not an Age Decision: Why Social Security affects tax brackets, investment longevity, and spousal benefits far beyond a monthly check. The Cost of Claiming Early: How claiming at 62 can result in a ~30% permanent reduction in monthly benefits and lower future Cost-of-Living Adjustments (COLAs). Longevity Insurance: Why average life expectancy stats can be misleading and how Social Security acts as a core hedge against outliving your assets. Bridge Years & Tax Planning: Utilizing the gap years before claiming to execute tax bracket management and Roth conversion strategies. For more updates on when Tim Stearns uploads a new video follow these social medias Facebook - https://www.facebook.com/TJStearnsInc/?ref=aymt_homepage_panel If you prefer to listen to the videos they will be posted in audio form on this page. https://protectandgrow.libsyn.com/site?_ga=2.261998026.658482677.1678457675-23497610.1666730944 DISLCAIMER: Securities offered through Crown Capital Securities, L.P. Member FINRA / SIPC OSJ
- Oct 3, 202615 min
Roth Conversion Mechanics: Mastering the Timing, Taxes, and Traps
In this episode of Protect and Grow Chicagoland Retirement, host Peter sits down with Tim Stearns, CFP®, to dive deep into the mechanics of Roth conversions. While the concept of a Roth conversion is simple, the execution requires careful planning around timing, income tax brackets, age milestones, and funding sources for tax liabilities.Tim breaks down how to "nibble on the tax bill" through multi-year strategic planning rather than converting large balances all at once. They cover key windows of opportunity—including in-service distributions at age 59 1/2 and highlight potential pitfalls to avoid, such as IRMAA Medicare surcharges, Social Security tax implications, and the early withdrawal penalty rule.Key Takeaways:Good, Better, Best Tax Funding: Why using external cash is the ideal way to pay conversion taxes while keeping the full principle invested.The 59 1/2 to Age 62 Sweet Spot: How to capitalize on tax bracket planning before the two-year Medicare IRMAA look-back period begins at age 63. RMD Mechanics: How Required Minimum Distributions interact with Roth conversions and why RMDs must be satisfied first. Long-Term Benefits: How Roth accounts protect against future tax rate hikes, alleviate the "widow's penalty," and create a tax-free legacy for beneficiaries. For more updates on when Tim Stearns uploads a new video follow these social medias Facebook - https://www.facebook.com/TJStearnsInc/?ref=aymt_homepage_panel If you prefer to listen to the videos they will be posted in audio form on this page. https://protectandgrow.libsyn.com/site?_ga=2.261998026.658482677.1678457675-23497610.1666730944 DISLCAIMER: Securities offered through Crown Capital Securities, L.P. Member FINRA / SIPC OSJ
- Sep 19, 202614 min
The Hidden Reality of Healthcare Costs in Retirement
Many pre-retirees assume that Medicare will seamlessly cover all their medical needs in retirement. In this episode of Protect and Grow, Certified Financial Planner™ Tim Stearns busts common healthcare misconceptions and breaks down the true, out-of-pocket costs retirees face. From Medicare premiums, deductibles, and IRMAA surcharges to coverage gaps like vision, dental, and long-term care, Tim explains why healthcare planning and tax planning must go hand-in-hand. Tune in to learn actionable strategies—including hybrid insurance policies and HSAs—to help shield your retirement savings from unexpected medical expenses. For more updates on when Tim Stearns uploads a new video follow these social medias Facebook - https://www.facebook.com/TJStearnsInc/?ref=aymt_homepage_panel If you prefer to listen to the videos they will be posted in audio form on this page. https://protectandgrow.libsyn.com/site?_ga=2.261998026.658482677.1678457675-23497610.1666730944 DISLCAIMER: Securities offered through Crown Capital Securities, L.P. Member FINRA / SIPC OSJ
- Sep 12, 202613 min
Don't Hit Snooze on Your Retirement Wake-Up Call
Are you relying too heavily on Social Security, ignoring long-term care costs, or underestimating the tax hit on your nest egg? In this episode of Protect and Grow Chicagoland Retirement, host Tim Stearns, CFP, and Peter break down the most critical financial wake-up calls every future retiree needs to address before it's too late. Together, they dive deep into: The Social Security Myth: Why Social Security was only designed to cover up to 40% of your retirement income. Hidden Healthcare & Long-Term Care Costs: Navigating out-of-pocket expenses that Medicare doesn't cover and why 70% of retirees will need long-term care. Sequence of Returns Risk: Protecting your portfolio from market volatility during the crucial early years of retirement. The Tax Trap: Why taxes—not healthcare—are often a retiree's single biggest expense, and how RMDs can trigger unwanted surcharges. For more updates on when Tim Stearns uploads a new video follow these social medias Facebook - https://www.facebook.com/TJStearnsInc/?ref=aymt_homepage_panel If you prefer to listen to the videos they will be posted in audio form on this page. https://protectandgrow.libsyn.com/site?_ga=2.261998026.658482677.1678457675-23497610.1666730944 DISLCAIMER: Securities offered through Crown Capital Securities, L.P. Member FINRA / SIPC OSJ
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