Excel in Retirement

Where financial planning becomes understandable. David brings interesting stories each week to listeners of his Excel in Retirement show along with actionable ideas that may help listeners avoid pitfalls that many people face in their retirement. David C. Treece began his career in the financial services industry in 2011. He is an independent financial adviser. He has passed the Series 65 securities exam, and he is health and life insurance licensed in several states. David’s financial advisory firm focuses on retirement income planning.David worked for two other financial advisors before founding his firm in 2018. David launched Clients Excel because he has a desire for his clients to have a second to none experience when it comes to their financial planning for retirement. David relentlessly strives to be the best at helping people prepare for retirement.The bedrock of David’s ethos is treating others as he would want to be treated.David works tirelessly to continually bring pertinent content to our clients and friends through our weekly newsletter and podcast. Through these, David brings informative content that may aid you in preparing for retirement. Through his financial planning work, David’s hope is that his clients are empowered to have a confident financial future.David and his wife, Mallory, have a daughter named Amelia and rescue dog named Oscar. They also have a backyard flock of chickens that Amelia loves to tend. David and his family are active in their church in Spartanburg. He is also a volunteer mentor with JumpStart, which is a ministry for people who have been recently released from prison.

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Excel in Retirement

Taxes are on Sale! Ep. 101

May 25, 2022 • David C. Treece • Episode 101

Our business is growing! We’ve grown each year of our existence and we are on track to continue that pattern this year. We are growth minded, client focused, and desire to continue to serve new clients. Like most businesses, we were required to innovate during the COVID pandemic and fortunately, we came out of that situation stronger than we were.

We are growth minded, client focused, and desire to continue to serve new clients. Like most businesses, we were required to innovate during the COVID pandemic and fortunately, we came out of that situation stronger than we were.

Taxes are on sale right now. We may have talked with you previously about how it may be a good idea to convert your tax-deferred accounts to tax-free Roth accounts. If you believe taxes will be higher in the future than they are today, then this may be a good idea. We are thirty trillion dollars in debt as a country and our unfunded obligations are fatiguing to consider. The writing seems to be on the wall that taxes will have to be much higher than they are today to continue funding our government.

We’ve been able to skirt this issue in the last decade because America has been able to print more money to buy bonds and equities. But we can’t even do that now, or at least not right now. We printed too much money during the pandemic and it’s what’s causing our inflation issue. In order to tame inflation, the government is now increasing interest rates. Meaning, the government won’t be able to print more money to keep the wheels of industry turning or to make up its gap in funding. This means taxes are at an even higher likelihood of increasing than they otherwise were.

Now you may be scratching your head thinking “but why are taxes on sale?” As of last Friday, the S&P 500 was down 18.14% for the year. If you have $500,000 in your 401k and it’s down 18.14% you now have $409,300. When the market is down there is less to pay taxes on to convert to tax-free. At times, we may be able to create a situation for select clients where they will receive a bonus to enable them to make up some of their losses.

If you’d like to discover more about this, click here to schedule a 15-minute call with me.

Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.

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Welcome to the Excel in Retirement Show, where financial planning becomes understandable. Your host, David C. Treese, is a licensed financial advisor who specializes in retirement income planning. David's desire for each of his clients is to have financial confidence, protection, and growth. We believe this is achievable with the right plan in place. Together, we'll build a plan specific to your financial goals. We work with clients all over, and we'd love to connect with you. Go to clientsexcel.com to connect with us. If you'd like to speak with us, call our office at 864-641-7955. Thanks for listening. Now to the show.

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Welcome to episode 101 of the Excel in Retirement show. As always, I am super thankful to have you here listening to our show. Well, our business is growing. Our business has increased each year of our existence, and we are on track to continue that pattern this year. This fall will be our fourth year in business, and since we started this business, clients excel. And we are a growth-minded, client-focused, and we desire to continue to serve new clients. So if you've been thinking about trying a new financial advisor or would like a different idea about what to do when it comes to financial planning, we would be honored to speak with you. Like most businesses, we were required to innovate during the COVID-19 pandemic, and fortunately, we came out of that situation on stronger ground, and we are better off today than we were going into it. So that was a huge blessing, and we thank the good Lord for that. In January, we leased additional office space at our current office location. This was long overdue as the extra space was much needed. In addition to this new office space, we recently hired a full-time administrative assistant named Doug Yates. And so I tell you all this growth thing to tell you that we had to lease more office space and hire more personnel. Doug is eager to learn the business and has already proved to be a big help with our office administration. You'll likely hear from Doug if you correspond with us in the future and when he's going to be scheduling meetings for us and communicating from our office, and so you'll likely hear from him. And additionally, he'll be helping with client onboarding, so paperwork when clients transfer their assets over to our firm, and he'll help with office organization and other day-to-day tasks. Doug is a University of South Carolina upstate graduate here in Spartanburg, and he majored in theater performance. So we are always in for a show when Doug's around. Doug spends his free time working around the house and designing board games and attending the occasional theater show at local stages around the upstate. And also, as you know, we release this weekly podcast in conjunction with our newsletter. If you're not receiving our newsletter, you can go to clientsexcel.com and look for the podcast newsletter tab and you can put in your email there and you'll get the newsletter in conjunction. We don't spam or sell or anything to your email address there and you can always unsubscribe. But Doug will probably be joining myself on the podcast in the future. in the coming weeks. And we'll talk about different questions about retirement planning and so forth and have some back and forth. And hopefully that'll make it more interactive and more enjoyable to listen to. This is our 101st episode, so we just crossed over 100 episodes last week, and we've been recording the podcast for about two years now. And we have a huge cache of different topics that could certainly help you and aid you in your retirement planning. And so if you have found our podcast to be helpful, please rate and review it and share it with other folks. Our shows, besides being on most podcast players, you can find our shows archived on our website at clientsexcel.com also. So here's our tip for the week. Did you know that taxes are on sale right now? We may have talked to you previously about this on a podcast about how it may be a good idea to convert your tax-deferred accounts, like your 401k or traditional IRA, to tax-free Roth accounts. Now, if you believe taxes are likely to be higher in the future than they are today, then this may be a good idea. Now, remember, we are about$30 trillion in debt as a country, and our unfunded obligations are fatiguing to consider. The The writing seems to be on the wall that taxes will have to be much higher in the future than they are today to continue funding our government. We've been able to skirt this issue in the last decade because America has been able to print more money to buy bonds and equities. But we can't even do that now, or at least not right now. We printed too much money, it seems, during the pandemic, and it's causing our inflation issue right now. So we're all feeling that. In order to tame inflation, the government is now increasing interest rates. So the government won't be able to print more money to keep the wheels of industry turning or to make up its gap in funding. So furthermore, this means that taxes are even more likely to go up in the future, in the near term even, than they were before all of this inflation issue became a hot topic. And so when the government can't create more money to shore up any deficits, that means that there's only one solution, higher taxes. So you might be sitting there scratching your head thinking, but why are taxes on sale to your original point? As of last Friday, the S&P 500 was down 18.14% for the year. So if you had just some quick math here, if you have a pen and paper, it might be easier to jot it down. But if you had$500,000 in your 401k and it's down 18.14%, you double check my math, but I believe you'd have about$409,300. So$409,300. When the market is down, there's less to pay in taxes on a conversion to a tax-free account. The good news, though, is at times we may be able to create a situation for select clients where they will be able to receive a bonus to enable them to make some of their losses up. the market is down, that means taxes are on sale. And so if you've been sitting on the fence considering whether to do a Roth conversion to a tax-free account, now may be a good time to look at that. If you'd like to discover more about this topic or ask a question, please just reach out at connect at clientsexcel.com, or you can call our office at 864-641-7955. Thanks for listening, and we'll

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be back next

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week for another show.

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Investment advisory services offered only by duly registered individuals through AE Wealth Management LLC. AE Wealth Management and clients Excel are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims-paying abilities of the insuring carrier. We'll be right back. ClientsXL is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by ClientsXL. The use of logos and or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program.