We do love it when someone refers a family member or friend to us. Sometimes the question is, “How can we introduce them to you?” Well, there are multiple ways but a very easy way is to simply forward them a link to this webpage.
Here are this week’s items:
Portfolio Update: Murs and I have recorded our portfolio update for May 19, 2025
The Peace of Mind Pathway – Step 2 – Implementation
Radon and Murs discuss the second step in the Peace of Mind Pathway—Implementation. This is where the planning becomes reality. After building your personalized retirement roadmap, it’s time to put your financial planning for retirement into motion. ...
The Peace of Mind Pathway – Step 2 – Implementation
In The Peace of Mind Pathway™: Your Roadmap , we laid the foundation. We got to know your goals. We clarified your income needs, investments, taxes, and healthcare decisions. Now, it’s time to bring that plan to life—with care, clarity, and coordination. That’s where Implementation, the second phase of our Peace of Mind Pathway™, comes in…
Retirement isn’t a single decision. It’s a series of carefully timed moves, thoughtful adjustments, and proactive strategies.
In The Peace of Mind Pathway™: Your Roadmap , we laid the foundation. We got to know your goals. We clarified your income needs, investments, taxes, and healthcare decisions. Now, it’s time to bring that plan to life—with care, clarity, and coordination.
That’s where Implementation, the second phase of our Peace of Mind Pathway™, comes in.
From Paper to Action
After the planning work in the Peace of Mind Roadmap™ phase—including your Introduction, Planning, and Strategy meetings—you now have a complete financial plan built around your goals.
Phase 2 is where that plan comes to life.
Implementation means more than just opening accounts or shifting investments. It means putting strategies into action: transitioning accounts, adjusting investments, initiating estate planning, coordinating tax strategy, and handling key retirement decisions like Medicare or long-term care. It’s the moment when your plan starts actively working for you.
We serve as your single point of contact through it all—keeping everything aligned, simplified, and fully coordinated.
What Happens During Implementation?
Implementation looks a little different for everyone, but this phase includes:
Transferring assets to your new custodian
Applying your personalized retirement income strategy
Executing your investment bucket strategy for retirees
Every part of this phase is implemented with clarity and care.
Transferring Your Assets
Once you decide to move forward, we begin by transitioning your assets into your new accounts. This includes:
Opening IRAs, Roth IRAs, and brokerage accounts as needed
Signing transfer paperwork
Moving investments “in-kind” (without selling them during the transfer)
We know this is a big decision, one we do not take lightly. We monitor and communicate every step of the process to help you feel confident and informed.
Common Question: Will I Miss Market Gains During the Transfer?
No. With in-kind transfers, your investments move as-is, so you stay fully invested and there is no disruption to your exposure in the market.
Activating Your Investment Strategy
With assets in place, we can see your full financial picture in real time and begin fine-tune and apply your investment plan using the bucket strategy discussed during the Peace of Mind Roadmap™ phase:
Cash Bucket – For near-term spending and emergency reserves
Safety & Income Bucket – Structured for reliable, predictable income and reduced risk
Growth Bucket – For long-term growth and inflation protection
This structure is designed to bring clarity and calm, by aligning your portfolio with your risk tolerance, income needs, and long-term goals— ensuring a steady stream of income, even in volatile markets.
Estate Planning (Simplified & Included)
If you don’t already have an estate plan in place, this becomes one of the top priorities in the implementation phase. Your Peace of Mind Pathway™ includes guidance on:
Wills
Powers of Attorney
Health care directives
Revocable living trusts (when appropriate)
Even better, your estate plan is flexible. If you make changes down the road, you’re not penalized. Updates are easy, quick, and all included as part of your relationship with us.
Retirement Tax Strategy: From Talk to Action
Taxes can be one of the biggest expenses in retirement, and retirement tax planning is not something to be ignored or delayed. Implementation starts a proactive approach by:
Analyzing your current and projected tax brackets
Developing multi-year tax strategies to reduce lifetime tax burden
This isn’t just a one-time meeting. Tax strategy includes year-round support from our in-house tax strategist, Taylor Wolverton, CFP®, Enrolled Agent. She helps you with:
Roth conversion planning
Withholding optimization (to avoid April 15 surprises)
Charitable giving strategies, including:
Qualified Charitable Distributions (QCDs)
Donor-Advised Funds (DAFs)
Tax strategy is ongoing, flexible, and customized to your evolving needs.
Frank and Lily came to us unsure if a Roth conversion was worth it. Five years later, their strategy reduced their lifetime tax burden by over $300,000—all from a series of quiet, confident moves that started in Implementation.
Medicare & Healthcare Coordination
Healthcare decisions matter—for both your well-being and your wallet in retirement. Whether you’re retiring before 65 or approaching Medicare eligibility, finding healthcare plan that fits your timeline and budget comes into focus in the Implementation phase.
We connect you with our in-house Healthcare Professional specializing in Medicare, Shawn Southard, who offers:
Medicare Parts A, B, C, and D guidance
Help choosing between Supplement and Advantage plans
Private insurance strategies before age 65
These are important decisions. We make sure you don’t navigate them alone.
Long-Term Care Planning
We take a realistic, balanced approach to long-term care planning. For many, this is one of the biggest unknowns in retirement.
Fortunately, options have improved significantly in recent years:
Hybrid policies with better benefits
More affordable premiums
Flexible coverage for different levels of care
Implementation includes a thoughtful discussion about whether insurance is necessary and how much coverage fits your needs.
How Long Does Implementation Take?
Implementation is a deliberate process. It doesn’t happen overnight—and that’s by design. This means taking small, intentional steps to ensure clarity, comfort, and confidence. Every situation is different, but here’s a general timeline to help set expectations:
Day 1–10: Asset transfer begins
Day 30–45: Investment strategy finalized and deployed
Months 2–6: Address estate planning and tax strategy
Months 6–12: Dive deeper into healthcare and long-term care planning
This step-by-step process ensures thoughtful decisions at every turn.
Flexibility is Built In
Your plan is never set in stone. Implementation is just the beginning. If your goals change or life throws a curveball, we continue to adapt your Peace of Mind Pathway™ with you.
And remember: everything you see here is included in one transparent fee. You won’t get separate invoices for tax strategy, estate planning, or Medicare coordination. We keep it simple.
What Comes Next?
Implementation is not the end of the journey—it’s the beginning of your retirement lifestyle. Once your plan is in motion, we move into Phase 3: Nurture. This includes monitoring performance, adjusting to life changes, and maintaining regular communication.
Stay tuned for Phase 3: Nurture, where we walk through how we continue supporting you for the years to come. Until then, if you’re curious about what Implementation could look like for you, we offer a complimentary 15-minute call.
Schedule your call and learn how the Peace of Mind Pathway™ can help you move from planning to progress—with confidence.
We do love it when someone refers a family member or friend to us. Sometimes the question is, “How can we introduce them to you?” Well, there are multiple ways but a very easy way is to simply forward them a link to this webpage.
Here are this week’s items:
The Peace of Mind Pathway – Step 1 – Your Roadmap
Radon and Murs discuss the foundational first step in their three-part Peace of Mind Pathway: The Peace of Mind Roadmap. This step is all about creating a personalized retirement roadmap to help you clearly define where you are, where you want to go, and what your journey through retirement will look like....
Planning for retirement can feel overwhelming. Between income strategies, healthcare decisions, tax planning, investments, Social Security, and estate considerations, it’s easy to feel like you’re juggling too much—and risking that something important gets missed. That’s exactly why we’ve developed the Peace of Mind Pathway™. It’s a structured, step-by-step planning process designed to….
Planning for retirement can feel overwhelming. Between income strategies, healthcare decisions, tax planning, investments, Social Security, and estate considerations, it’s easy to feel like you’re juggling too much—and risking that something important gets missed.
That’s exactly why we’ve developed the Peace of Mind Pathway™.
It’s a structured, step-by-step planning process designed to bring clarity, confidence, and coordination to your retirement. Whether you’re just beginning to plan, or you’ve already made some decisions and want to be sure everything fits together, this process helps reduce stress and get you on track.
Today, we’re focusing on Phase 1: The Peace of Mind Roadmap™—a foundational part of your retirement journey.
What Is the Peace of Mind Pathway™?
The Peace of Mind Pathway™ includes three clear phases that guide you through retirement planning and beyond:
The Peace of Mind Roadmap™ – Clarifying your goals and crafting a personalized retirement plan
Implementation – Putting your plan into action
Nurture – Monitoring, adjusting, and supporting your plan as life changes
Each phase builds on the last. But it all begins with the Peace of Mind Roadmap™.
The Peace of Mind Roadmap™: Where Clarity Begins
Retirement often feels like a winding road. You know where you are now, and you may have a vision for the future—but the steps in between aren’t always clear.
The Peace of Mind Roadmap™ is designed to change that. It acts as your GPS: showing where you are today, helping you define where you want to go, and guiding you with turn-by-turn directions.
Here’s how it works:
Step 1: Your Personalized Introduction Meeting
Your journey starts with a relaxed, one-on-one conversation. We’ll ask questions about your goals, your concerns, and your current financial situation. You’ll also fill out our Confidential Financial Snapshot—a simple two-page worksheet that gives us a clear overview of your income, assets, debt, and retirement vision.
This meeting isn’t a sales pitch. It’s a two-way conversation: You’re deciding if we’re the right partner for your retirement, and we’re learning whether we can provide real value to your situation.
Step 2: Your Personalized Planning Meeting
With your information in hand, our team—comprising Certified Financial Planners—gets to work building your personalized retirement plan. This isn’t a one-size-fits-all solution. We consider:
Your income needs (essential vs. discretionary spending)
We also help you evaluate different options: Are you already on track to reach your goals? Can you retire now? Should you adjust spending? Would delaying retirement give you more flexibility? Like a GPS, we guide you and adjust your Roadmap as needed.
Retirement Goals Drive Strategy
Once the core plan is built and validated, it’s time to layer on strategy. This is where we dive deeper into tactical decisions to optimize your financial outcome:
Cash Bucket – Your emergency fund and short-term reserves
Safety & Income Bucket – Designed for predictable, low-risk income
Growth Bucket – Long-term investments designed to grow over time
The bucket strategy in retirement helps reduce stress by separating your short-term needs from long-term growth assets. It also protects you from having to withdraw funds during down markets.
Which accounts do I withdraw from first—IRA, Roth, taxable?
How much can I safely withdraw each year?
We help you answer these questions based on your plan’s goals and timelines.
Retirement Tax Strategy
Navigating taxes in retirement can be challenging on your own. Without a retirement tax strategy, many retirees pay more in taxes than they expect. Proactive tax planning can have a big impact on your long-term success.
We look at:
How your income is taxed
Whether Roth conversions can reduce your future tax burden
If you’re retiring before 65, we help bridge the healthcare gap until Medicare begins. When the time comes, our in-house Medicare specialist helps you understand enrollment, supplement options, and costs.
Estate Planning
A proper estate plan ensures that your assets pass smoothly to your heirs and that your wishes are carried out if you’re unable to make decisions. We’ll review:
Wills
Powers of Attorney
Healthcare directives
Trust structures (when appropriate)
This isn’t just about death—it’s about protecting your legacy and ensuring you remain in control of your affairs.
Step 3: Your Personalized Strategy Meeting
The roadmap phase ends with a Personalized Strategy Meeting, where we review and finalize all the strategies needed to bring your plan to life. You’ll walk away knowing:
Your retirement plan and strategy
The next steps to move forward
How your investments, taxes, healthcare, and estate planning all work together
This sets the stage for the next phase: Implementation, where your plan is put into motion.
Why the Roadmap Matters
Clients often tell us this phase of the process is the most empowering. It replaces fear with clarity. It connects scattered financial pieces into one picture. It helps you feel confident knowing you’re on the right path. And you’ll know it’s all included in one simple, transparent fee. No surprise charges. No picking and choosing. Just one coordinated plan with a strong team.
Want to understand what your Peace of Mind Roadmap™ might look like? We offer a complimentary 15-minute call to help you explore whether this process is right for you. Schedule your call and take the first step toward clarity and peace of mind.
We do love it when someone refers a family member or friend to us. Sometimes the question is, “How can we introduce them to you?” Well, there are multiple ways but a very easy way is to simply forward them a link to this webpage.
Here are this week’s items:
Portfolio Update: Murs and I have recorded our portfolio update for May 5, 2025
Retirement Hobbies and Activities – What Today’s Retirees Love to Do
Radon and Murs discuss the fun and fulfilling side of retirement: retirement hobbies and retirement activities. After years spent working and raising families, many retirees look forward to rediscovering passions or picking up new interests. Radon and Murs explore why hobbies after retirement are so important for mental, physical, and emotional well-being and share some of the most popular retirement lifestyle ideas embraced by today’s retirees...
Retirement Hobbies and Activities – What Today’s Retirees Love to Do
This blog explores some of the most popular retirement hobbies and retirement activities that today’s retirees love. Whether you’re planning your next chapter or are already enjoying it, these ideas can help you build a fulfilling and engaging retirement lifestyle…..
Retirement is often imagined as a finish line. But in reality, it’s a starting point for a whole new phase of life — one filled with possibility, freedom, and opportunity. As work responsibilities wind down, many retirees look forward to diving into long-neglected passions or even discovering new ones.
This blog explores some of the most popular retirement hobbies and retirement activities that today’s retirees love. Whether you’re planning your next chapter or are already enjoying it, these ideas can help you build a fulfilling and engaging retirement lifestyle.
Why Hobbies and Activities Matter in Retirement
Choosing the right hobbies after retirement isn’t just about staying busy. It’s about:
Maintaining mental sharpness
Enhancing physical health
Fostering social connections
Providing a sense of purpose and accomplishment
Lowering rates of depression and anxiety
As you plan your retirement, it’s also time to think beyond your financials. Planning retirement lifestyle choices is just as crucial to retiring comfortably and living with joy.
Top Retirement Hobbies and Activities
Here are eight hobbies and activities many retirees embrace — and why they love them.
1. Cooking and Baking
Many retirees rediscover the joy of the kitchen. With more time on your hands, you can finally dive into those cooking classes you’ve been putting off or master the art of baking a perfect loaf of bread.
Benefits:
Creative expression
Healthy eating habits
Social opportunities (hosting friends and family)
Cooking is a perfect example of a hobby that keeps both your body and mind active.
2. Reading
Reading remains a favorite hobby for retirees. Whether it’s catching up on classics, diving into thrillers, or exploring new topics, reading stimulates the mind and fuels imagination.
Benefits:
Mental engagement
Stress reduction
Endless learning opportunities
Audio books and e-readers make this hobby more accessible than ever! You can start a book club with friends or join a local book club to add a social element to your schedule (and a little accountability, too).
3. Gardening
Gardening is one of the best hobbies for seniors because it’s physically rewarding and mentally soothing. Whether you have acres of land or a small balcony, there’s a type of gardening for everyone.
Benefits:
Physical activity
Stress relief
Sense of achievement
Plus, studies show that spending time in nature can improve your mood and reduce anxiety. Wondering where to start? Check out a local gardening center to learn about what plant might be best for you and remember- indoor gardening counts!
4. Travel
It’s no surprise that travel consistently tops the list of best hobbies for retirees. After years of hard work, many look forward to exploring new cities, cultures, and adventures.
Benefits:
Expanded worldview
Lifelong memories
Opportunities for physical activity
Many retirees choose to frontload their travel, making the most of their energy and health during the early years of retirement. There are options for travel planning; you can plan your own trip, work with a trip planner, book a cruise. Choose your adventure!
5. Volunteering
Volunteering in retirement can be one of the most fulfilling ways to spend your time. Whether it’s helping at a food bank, tutoring students, or working with a charity, retirees find immense satisfaction in giving back.
Benefits:
Sense of purpose
New friendships
Mental and emotional well-being
Many retirees say volunteering gives them structure and meaning, enhancing their overall retirement lifestyle ideas. Looking for ideas? Ask at your local library.
6. Photography and the Arts
Pursuing photography, painting, pottery, or other arts gives retirees a creative outlet. Even if you’ve never considered yourself “artistic,” this is the perfect time to explore.
Benefits:
Creative expression
Stress reduction
Community and classes for social connection
Photography can even combine with travel for double the enjoyment! Whether you’re jumping back in or picking up some new skills, finding a local club or class can be a great place to start.
7. Lifelong Learning
Learning doesn’t end with a career. Retirement opens the door to new subjects, skills, and passions. Popular topics include:
Technology (like AI and smart devices)
History or literature
Languages
Libraries, community centers, and online platforms offer countless classes.
Benefits:
Cognitive sharpness
Increased confidence
Sense of accomplishment
On the other hand, if you have a knowledge base in a particular subject area and enjoy one on one connections, you can consider becoming a mentor. It’s a great way to meet people you may not have encountered otherwise, and a different way to share your life experiences. Ask at your local library.
8. Fitness and Outdoor Activities
Staying physically active is vital to retiring comfortably. Many retirees embrace new activities like:
Not every hobby will resonate with you, and that’s okay! Here’s how to explore your interests:
Try one new activity per quarter. Low commitment, high discovery!
Join a local group or club. There are groups for everything from hiking to book clubs.
Use technology to research. AI tools and websites make it easy to find new hobbies and local opportunities.
Take a class. Learning with others can spark inspiration and introduce you to new friends.
Remember, the goal is to find activities that excite and fulfill you, not to overwhelm yourself with obligations.
The Impact on Your Retirement Plan
Incorporating hobbies into your life can affect your retirement checklist in a few ways:
Budgeting: Certain activities like travel or photography might require additional savings.
Health Planning: Staying active can reduce healthcare costs.
Social Security and Income Planning: Knowing your activities can help structure your income needs in retirement.
By weaving hobbies into your overall retirement planning, you’re setting yourself up for not just a secure financial future, but a vibrant, joyful one as well.
Final Thoughts: Secure Your Retirement Lifestyle
Retirement is your chance to embrace life in new and fulfilling ways. Whether it’s through learning, traveling, volunteering, or discovering a new passion, today’s retirees are proving that retirement is just the beginning.
Start exploring now. Try different activities. Dream big about your retirement hobbies and retirement activities. Your future self will thank you.
We do love it when someone refers a family member or friend to us. Sometimes the question is, “How can we introduce them to you?” Well, there are multiple ways but a very easy way is to simply forward them a link to this webpage.
Here are this week’s items:
2025 1st Quarter Economic Update
Radon and Murs discuss the “2025 1st Quarter Economic Update” with special guest Tom Siomades, Chief Market Economist. Together, they break down the real story behind the numbers and headlines from the first quarter of 2025, offering valuable insights into the 2025 market outlook, economic trends 2025, and the complexities around tariffs and the economy…..
In our latest 2025 1st Quarter Economic Update, we dive into how tariffs, inflation, and market volatility are shaping the economic landscape — and what it means for your retirement planning. Get insights from Chief Market Economist Tom Siomades and learn strategies to stay on track through an uncertain year…..
As we close the books on the first quarter of 2025, it’s clear this year has already brought its fair share of economic twists and turns. Between new political leadership, trade policy shifts, and inflation pressures, there’s a lot to unpack. In this 2025 1st Quarter Economic Update, we reflect on how the year began, assess current economic trends, and look ahead to what may be coming next.
We had the pleasure of welcoming Tom Siomades, Chief Market Economist at a major financial firm, back to the Secure Your Retirement podcast. Tom helped us break down the 2025 market outlook and provided a candid assessment of the challenges and opportunities investors face. This blog brings you the highlights of that discussion and what it means for retirement planning and your financial future.
A Strong Start to 2025 – But for How Long?
The year began on a high note. January 2025 was strong for the stock market. Typically, a solid January has historically signaled strength for the remainder of the year—a positive indicator for investors and retirees alike.
However, as Tom pointed out, this early enthusiasm quickly gave way to more familiar and persistent challenges: inflation, potential recession indicators, and especially tariffs and the economy.
Tariffs Take Center Stage
Tariffs dominated headlines as the quarter ended. A new wave of U.S. trade policy measures—especially with China—sparked anxiety in markets. On April 2nd, the administration officially announced sweeping tariff measures targeting nations viewed as engaging in unfair trade practices.
This marked a return to a trade war climate reminiscent of 2018-2019. The US-China trade war of that period demonstrated how quickly tariffs can disrupt supply chains, boost costs, and rattle financial markets.
The current administration justified these measures by pointing to trade deficits and the need for fairness. However, as Tom explained, the implementation felt more abrupt and jarring than strategic. The sudden introduction of the policy spiked global trade uncertainty, with parallels drawn to the economic disruptions seen during the COVID-era supply chain issues.
Tariffs and Inflation: A Growing Concern
The natural outcome of tariffs is higher prices for imported goods, which in turn contributes to inflation. Tom highlighted that the public, already weary from the recent inflation cycle, has reacted negatively to the idea that prices could rise again.
This sense of economic pessimism, even when not reflected in hard data like GDP or unemployment, can impact consumer spending. With 70% of the U.S. economy driven by consumers, a pessimistic mindset can lead to slowed spending and potentially contribute to an economic downturn.
Is a 2025 Recession on the Horizon?
While some analysts are still hesitant to call a 2025 recession, Tom suggested that from a consumer sentiment standpoint, we may already feel like we’re in one. Higher costs, volatility in the markets, and global trade uncertainty have created an environment of fear and hesitation.
Although official recession metrics—like two consecutive quarters of negative GDP—haven’t been confirmed, Tom expects at least one negative quarter based on current signals.
The Federal Reserve’s Balancing Act
The Federal Reserve entered 2025 with the expectation that it would begin a series of rate cuts to ease pressure on borrowing and investment. But as the tariff wars escalated, the Fed has taken a more cautious stance.
They’re now in a holding pattern, waiting to see the impact of tariffs before taking action. Encouragingly, the inflation outlook for 2025 has improved slightly in recent months. Tom noted two consecutive months of declining inflation, including one with a negative CPI print—the first since 2021.
If this trend continues, the Fed could regain confidence and cut rates by mid-2025. However, the bond market isn’t convinced. With $36 trillion in national debt, institutional investors are demanding higher returns, which makes rate reductions less impactful than they once were.
Government Spending and Economic Trends 2025
Another major concern Tom raised is unchecked government spending. Since 2019, federal expenditures have increased from $4.5 trillion to over $7 trillion. Yet, many Americans feel their quality of life hasn’t improved proportionately.
With no major reforms to programs like Social Security or Medicare, the financial pressure builds, adding complexity to financial planning for 2025 and beyond.
Economic Forecast 2025: What Comes Next?
Tom sees the next 90 days as pivotal. If tariff negotiations conclude successfully and global partners like Japan, South Korea, and India commit to new trade deals, it could restore confidence and stabilize the markets.
In this best-case scenario:
Inflation could continue to cool
Consumer sentiment may recover
The Fed might cut rates in June
The market could rally, potentially adding 10-15% in the second half of 2025
However, if tariffs persist, and political infighting blocks fiscal policy progress, markets may remain directionless—or worse, turn bearish.
The outlook hinges on global diplomacy, fiscal discipline, and policy execution. For now, investors must stay agile and informed.
What This Means for Retirement and the Economy
For retirees, or those wondering “is it time to retire?” the current climate underscores the importance of a well-structured financial plan. Retirement and the economy are deeply interconnected.
Volatility, inflation, and policy shifts can all impact:
At Peace of Mind Wealth Management, we help clients protect and grow their wealth through our Peace of Mind Pathway, a holistic planning framework designed to insulate against uncertainty like we’re seeing in 2025 stock market trends.
Step 1: Peace of Mind Roadmap
We build a detailed retirement plan that addresses income, investments, healthcare, taxes, and estate goals. It includes scenario modeling—like tariff-induced inflation—to stress-test your plan.
Step 2: Strategic Implementation
Your roadmap translates into an action plan for investment diversification, tax efficiency, and retirement withdrawals that align with your lifestyle.
Step 3: Ongoing Nurture
Economic shifts don’t stop. Neither does our planning. We continue to assess economic trends 2025 and adjust your plan as needed.
We do love it when someone refers a family member or friend to us. Sometimes the question is, “How can we introduce them to you?” Well, there are multiple ways but a very easy way is to simply forward them a link to this webpage.
Here are this week’s items:
Portfolio Update: Murs and I have recorded our portfolio update for April 21, 2025
Life in Focus – Preserving Memories in the Modern Age
Radon and Murs discuss the art and importance of Preserving Memories with Angela Andrew, Product Evangelist for the Mylio App. In an age where digital images accumulate rapidly but often remain disorganized, Mylio offers a transformative solution for families looking to protect and share their memories. This episode dives into how the app simplifies Digital photo organization, helps Backup family photos, and creates a seamless structure for Family photo storage that enhances your Legacy planning....
Life in Focus – Preserving Memories in the Modern Age
In this blog, we’ll explore the importance of collecting meaningful life moments in retirement and discuss a modern solution: the Mylio app, an innovative tool designed to help families organize digital photos, scan old photos, and share family history photos safely and efficiently….
In today’s hyper-digital world, we’re better than ever at capturing memories — photos, videos, stories — yet ironically, we’re at greater risk of losing them. With thousands of photos buried in smartphones, scattered across cloud services, and hidden in shoeboxes under the bed, preserving memories for future generations has become both a personal challenge and a critical piece of legacy planning.
In this blog, we’ll explore the importance of collecting meaningful life moments in retirement and discuss a modern solution: the Mylio app, an innovative tool designed to help families organize digital photos, scan old photos, and share family history photos safely and efficiently.
Too Many Memories, Not Enough Organization
We live in a time where taking a photo is second nature. Every milestone, meal, and moment can be captured in high definition with the click of a button. Yet, many people aren’t organizing their photos in a way that preserves their meaning and makes them easily accessible.
Scattered or unorganized photos can look like:
Hundreds (or thousands) of pictures are stored on your phone
Older pictures live on outdated hard drives or DVDs
Some are buried in cloud accounts like iCloud or Google Photos
And let’s not forget the boxes of printed photos stored in closets or attics
This scattered photo legacy makes it difficult to pass along meaningful memories to your loved ones. In retirement, preserving your cherished moments becomes a priority. Organizing your photos from all their locations in their many formats can be overwhelming to start, using a program like Mylio can turn a big project into a joyful activity.
Mylio: A Digital Solution for Collecting Memories
The Mylio app is a solution that transforms disorganized photos into a secure, structured archive. Mylio’s mission is to make memory preservation simple, secure, and shareable — no matter your age or tech experience.
Mylio helps users:
Organize digital photos from phones, tablets, and computers
Scan old photos and integrate them into a unified library
Tag faces, places, and events to make search effortless
Synchronize libraries across devices
Grant access to family members with customizable permissions
Backup family photos using industry-standard encryption and off-site storage options
These features make Mylio a powerful option for family photo storage, helping retirees and families ensure their memories are never lost.
Preserve Your Legacy Without Losing Simplicity
As we age, retirement planning isn’t just about finances. It’s also about ensuring our stories, milestones, and values are passed along. A carefully curated collection of photos does more than display memories — it connects generations.
Preserving memories should be part of every retirement checklist. If you understand the importance of planning your finances, healthcare, and living arrangements, you should also prioritize how your personal history is archived and shared.
Mylio provides tailored tools for this very purpose:
The Life Calendar view allows you to browse photos by decade, year, and month
A Map View organizes images by location, letting you relive past travels and family gatherings
The People View uses advanced facial recognition to tag individuals and group all photos associated with them
Making Memories Accessible and Shareable
Beyond organizing, Mylio excels at sharing photos with family in ways that are intuitive and secure. Through shared albums and private family libraries, users can:
Selectively share certain albums or photos with specific family members
Create private links for older relatives who may not use smartphones
Segment photo access so different branches of the family see only what’s relevant to them
This functionality is essential for those focused on legacy planning and remembering loved ones with intention and privacy.
How Mylio Outperforms Traditional Photo Storage
You might already use iCloud or Google Photos, but these platforms aren’t built with legacy planning in mind. Only one in four people pay for additional cloud storage, meaning most devices aren’t backed up completely. Even if you do pay, these services can:
Compress or store only low-resolution versions
Become vulnerable to accidental deletion or data breaches
Limit your access or control over organization
Mylio solves these issues by supporting the 3-2-1 backup model: three copies of your photos, two different types of media, and one off-site location. That means greater secure photo backup and peace of mind.
The Emotional Value of Memory Preservation
Imagine sitting down with your family, opening your tablet, and showing them perfectly organized photos of your childhood, your travels, your first home, and their parents growing up. Each image is accompanied by a caption, a story, and a date. You’re not just remembering loved ones — you’re introducing them to a new generation.
This is the emotional payoff of family history photos beautifully organized and preserved. It’s not about hoarding pictures; it’s about creating intentional legacy planning that spans generations.
Sleep soundly knowing your memories are safe and accessible
Mylio offers plans starting at $20/month for individuals, with expanded family photo storage options for larger households. With access to onboarding experts and easy-to-use tools, even tech-novices can succeed with Mylio.
How It Aligns with Retirement Planning
At Peace of Mind Wealth Management, we believe retirement planning encompasses more than money. It’s about creating a life that’s meaningful, secure, and connected. That’s why we include memory preservation in our broader planning discussions.
Our Peace of Mind Pathway helps clients secure not only their finances but also the intangible things that matter — like memories, legacy, and stories.
A strong photo archive is one of the most heartfelt elements of a secure retirement. It tells your life story, keeps families connected, and ensures that when the time comes, your grandchildren know where they came from.
To be clear, photo organization is not the only way to collect and preserve the stories of your life and history. Do you love storytelling, or want to pass down some secret family recipes? You may want to look for a program to help you write a book. There are options out there to help you build your life stories into a legacy that is true to your style.
Investment Advisory Services offered through POM Investment Strategies, LLC dba Peace of Mind Wealth Management (“POM”), a Registered Investment Advisor. Mylio.com is not affiliated with POM. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness. Investors should carefully consider the investment objectives, risks, charges and expenses associated with any investment. Always consult an investment advisor, attorney or tax professional regarding your specific situation.
We do love it when someone refers a family member or friend to us. Sometimes the question is, “How can we introduce them to you?” Well, there are multiple ways but a very easy way is to simply forward them a link to this webpage.
Here are this week’s items:
Required Minimum Distributions – RMDs
Radon and Murs discuss a crucial yet often confusing topic for retirees: Required Minimum Distributions (RMDs). Joined by their colleague Taylor Wolverton, a Certified Financial Planner and Enrolled Agent, they break down the rules surrounding what are RMDs, how they’re calculated, and the updates brought by the Secure Act RMD changes...
Folks approaching retirement or already enjoying their golden years may have heard of Required Minimum Distributions, or RMDs. Understanding RMDs and how they can impact your financial and tax planning is a key part of long-term investing and successful retirement plannin,…
Folks approaching retirement or already enjoying their golden years may have heard of Required Minimum Distributions, or RMDs. Understanding RMDs and how they can impact your financial and tax planning is a key part of long-term investing and successful retirement planning
In this blog, we’re breaking down everything you need to know: What are RMDs, how do RMDs work, the new RMD rules, tax considerations, and planning strategies that can help you retire comfortably and securely.
What Are RMDs?
RMDs, or Required Minimum Distributions are the mandatory withdrawals you take each year from most tax-deferred retirement accounts, including:
Traditional IRAs
SEP IRAs
SIMPLE IRAs
Employer-sponsored retirement plans such as 401(k), 403(b), and 457 plans
These accounts have allowed you to defer taxes while accumulating retirement savings. Eventually, the IRS wants to start collecting its share—hence the requirement to withdraw and pay income taxes on those distributions once you reach a certain age.
Keeping You Updated: New RMD Rules in 2025
Over the years, the Secure Act and Secure Act 2.0 have significantly altered the landscape for RMDs. These changes impact when you must start taking RMDs and how much you must withdraw.
RMD Age by Birth Year:
Born before July 1, 1949: RMDs began at age 70½
Born 1951–1959: RMDs begin at age 73
Born 1960 or later: RMDs begin at age 75
So, if you turn 73 in 2025, your first RMD year is 2025. You don’t have to wait until your actual birthday month to take your RMD—you can start as early as January 1st of the year you turn 73.
Did you know? A Special RMD Rule
RMDs must be taken by December 31 of each year, starting the year you reach your required age. However, there’s a special rule for your first RMD only:
You can delay your first RMD until April 1 of the following year.
⚠️ Caution: If you delay your first RMD until April 1 of the following year, you will need to take two RMDs in that year—your first and your second—which could have serious tax implications.
To avoid potential tax spikes, most advisors recommend not delaying your first RMD unless there’s a compelling reason.
How Do RMDs Work?
RMD amounts are based on your account balance and your age. Each year, the IRS publishes the Uniform Lifetime Table, which provides a life expectancy factor used to calculate your RMD.
Here’s a simplified example:
You are 73 years old in 2025.
Your IRA balance on December 31, 2024, is $1,000,000.
According to the table, the distribution factor is 5.
Your RMD = $1,000,000 / 26.5 = $37,736
Each year, the divisor gets smaller, which means the percentage of your account that must be withdrawn increases.
Your IRA custodian (e.g., Schwab, Fidelity, etc.) typically calculates your RMD for you, so you don’t need to worry about doing the math manually. But it’s good practice to verify that it’s done correctly.
RMD Tax Rules and Penalties
RMDs are taxed as ordinary income at both the federal and state level. Since these distributions are from tax-deferred accounts, every dollar withdrawn is fully taxable in the year it’s received.
You have two main options to handle taxes:
Withhold taxes directly from the RMD
Make estimated tax payments quarterly
Failing to plan ahead can lead to large tax bills and unnecessary stress. That’s why retirement tax planning is so important.
What if You Miss Your RMD?
Missing your RMD triggers a penalty:
25% of the amount you failed to withdraw
Reduced to 10% if corrected within two years and reasonable cause is provided
The penalty used to be 50%, so recent changes have made it less severe—but it’s still best to avoid the risk entirely by staying on top of your RMD schedule.
RMD and Charitable Giving: The Power of QCDs
If you’re charitably inclined and don’t need the RMD funds for personal spending, consider a Qualified Charitable Distribution (QCD).
A QCD allows you to directly transfer up to $100,000 per year from your IRA to a qualified charity.
The amount counts toward your RMD but is not included in your taxable income.
This strategy can lower your Adjusted Gross Income (AGI), which may reduce Medicare premiums and other tax-related thresholds. It’s an excellent tool for those who want to give back and minimize their tax liability.
What to Do with RMDs You Don’t Need
A common frustration we hear from clients is: “Ok, I satisfied my RMDs, but I don’t need this money. What do I do with it?”
Here’s three common options:
Spend it: Use it for travel, family gifts, or hobbies
Donate it: As mentioned above, use a QCD to reduce your taxable income
⚠️ Important: You cannot reinvest RMDs back into your IRA or convert them to a Roth IRA. Once the funds are withdrawn, they cannot be re-contributed.
Roth IRAs and RMDs
Unlike traditional IRAs, Roth IRAs are not subject to RMDs for the original account owner.
This is one of the reasons Roth conversions have become a powerful tax-planning tool. By moving funds from a traditional IRA to a Roth, you pay taxes now, but avoid RMDs in the future.
Work with a financial planner: Ensure your withdrawal strategy aligns with your retirement goals
For folks that work with Peace of Mind Wealth Management, RMDs and tax strategy are included in your Peace of Mind Pathway, a structured retirement planning process that simplifies investment, income, and tax decisions.
Tax strategy is a huge component of achieving peace of mind in retirement. RMDs are an important part of the retirement tax strategy conversation. Schedule your complimentary 15 minute call with us to get started on your RMD questions.
We do love it when someone refers a family member or friend to us. Sometimes the question is, “How can we introduce them to you?” Well, there are multiple ways but a very easy way is to simply forward them a link to this webpage.
Here are this week’s items:
Estate Planning Explained: Executor Duties
Radon and Murs discuss what it truly means to be an executor of an estate. Joined by special guest Dave Hutton, an estate attorney with Wealth.com, they break down the essential estate executor duties and estate executor responsibilities in a way that is easy to understand. Whether you’ve been named an executor or are considering who to appoint, this episode provides the foundational knowledge you need to make informed decisions...
In estate planning, one of the most critical roles is the executor. Whether you’re naming someone as your executor, or you’ve just been appointed to serve as one, understanding the executor responsibilities is an important step to make sure a person’s final wishes are carried out properly.,…
In estate planning, one of the most critical roles is the executor. Whether you’re naming someone as your executor, or you’ve just been appointed to serve as one, understanding the executor responsibilities is an important step to make sure a person’s final wishes are carried out properly.,
In this blog, we’ll walk you through what an executor is, the probate process explained, the executor’s duties, common misconceptions, and how the executor vs trustee roles compare—especially as it relates to estate planning for retirement.
What Is an Executor?
An executor (also called a personal representative in some states) is the person named in a last will and testament to manage the estate of the deceased. This individual is tasked with carrying out the terms of the will, handling the probate process, settling debts, and distributing assets to beneficiaries.
This is not just a ceremonial title—it is a position with real legal responsibilities, oversight, and sometimes, significant time and effort. If no executor is named, a court appoints someone, and it may not be the person the decedent would have chosen.
Choosing the right executor is a key part of estate planning, and if you’re wondering, what are estate executor duties?—let’s get into it.
The Role of an Executor
Being an executor means more than simply overseeing the reading of a will. Here are the primary responsibilities:
Locating and securing assets of the deceased
Notifying beneficiaries and potential creditors
Filing paperwork with the probate court
Paying outstanding debts and expenses
Filing the decedent’s final income tax return
Distributing assets according to the will
The executor’s legal authority begins only after the court officially approves the appointment, granting what’s known as letters of testamentary. These documents allow the executor to legally access financial accounts, sell property, and settle debts on behalf of the estate.
What Makes a Good Executor?
While many people default to naming a spouse or oldest child, the right choice isn’t always the most obvious one. When choosing an executor, consider:
Financial awareness
Organizational skills
Emotional readiness (especially during a time of grief)
Integrity and trustworthiness
Availability and geographic location
At Wealth.com—a trusted partner of Peace of Mind Wealth Management—estate planning attorney Dave Hutton emphasizes that being an executor is a weighty responsibility. And remember, your executor can always be updated later as your life circumstances or relationships evolve.
Executors and the Probate Process
One of the executor’s primary duties is to oversee the probate process, the court-supervised procedure of validating a will, settling debts, and distributing the estate.
How Probate Works
File the Will – The executor must file the will with the local probate court.
Get Appointed – The court officially appoints the executor and issues letters of testamentary.
Notify Creditors – A public notice is placed, allowing creditors to file claims against the estate.
Inventory Assets – The executor identifies, appraises, and secures all assets.
Pay Debts and Taxes – The estate pays funeral costs, outstanding bills, and any taxes due.
Distribute Assets – Once debts are settled, the executor distributes remaining assets according to the will.
Close the Estate – Final court filings are submitted to close the estate.
The probate process can take nine to twelve months, sometimes longer if there are disputes, contested wills, or complex assets. This is one reason many people seek to minimize probate by using tools like trusts and beneficiary designations.
Executor Compensation
Yes, executors can be compensated for their time and effort. Executor compensation is typically considered “reasonable” and can be:
A fixed fee outlined in the will
A percentage of the estate’s value (varies by state)
An hourly rate, with a log of time submitted to the court
This is especially relevant for retirement-age individuals being asked to serve as an executor for a parent or spouse. Compensation acknowledges the seriousness of the task and the significant time commitment involved.
Common Misconceptions About Executors
There are several common misunderstandings about executor duties:
You cannot act until the court appoints you. Even if you’re named in the will, you have no legal power until the court gives formal approval.
Executor authority is limited to probate assets. Life insurance policies, retirement accounts with named beneficiaries, and assets in trust typically do not fall under the executor’s control.
Being an executor does not mean you control everything. Beneficiaries have rights, and courts provide oversight. Disputes can lead to litigation, especially if there is suspicion of mishandling.
Executor powers do not apply while the person is alive. That role is fulfilled by a power of attorney. The executor’s role begins only after death.
Executor vs Trustee
People often confuse the terms executor and trustee. Here’s a breakdown:
Feature
Executor
Trustee
Appointed by
A will
A trust document
When role begins
After death, with court approval
At trust creation or upon death
Oversees
Probate estate
Trust assets
Public record?
Yes (probate court filings)
No (trusts are private)
Court involvement?
Yes
Typically no
If privacy, simplicity, and avoiding probate are priorities, setting up a trust and appointing a trustee is an option to consider. But even with a trust, a will with an executor is still necessary to catch any unassigned assets.
How Wealth.com Simplifies Estate Planning
Through our partnership with Wealth.com, clients of Peace of Mind Wealth Management can:
Create comprehensive estate plans
Name executors and trustees
Establish and manage living trusts
Store and share digital estate documents
Their platform helps ensure that retirement planning includes a solid estate plan. Whether you’re asking, how do tariffs affect my retirement or what’s the role of an executor, having your legal affairs coordinated with your financial plan is essential for retiring comfortably.
Estate Planning for Retirement: Why It Matters
When you’re approaching or in retirement, estate planning is more than just checking off an item on your to do list—it’s contributing to your peace of mind. Having an estate plan that honors your wishes, protects your family from delays, and ensures your assets are handled smoothly is a key part of retiring with confidence.
Estate planning can be a daunting item to get started on. To get started on answering your questions about Estate Planning Explained: Executor Duties, schedule your complimentary 15 minute call with us.
Investment Advisory Services offered through POM Investment Strategies, LLC dba Peace of Mind Wealth Management (“POM”), a Registered Investment Advisor. Wealth.com is not affiliated with POM. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness. Investors should carefully consider the investment objectives, risks, charges and expenses associated with any investment. Always consult an investment advisor, attorney or tax professional regarding your specific situation.
We do love it when someone refers a family member or friend to us. Sometimes the question is, “How can we introduce them to you?” Well, there are multiple ways but a very easy way is to simply forward them a link to this webpage.
Here are this week’s items:
Portfolio Update: Murs and I have recorded our portfolio update for March 31, 2025
Tariffs – What They Are – How They Work – How They Impact You
Radon Stancil and Murs Tariq discuss a timely and often misunderstood topic: tariffs. With tariffs frequently making headlines, especially in relation to trade disputes like the US China trade war, it’s critical to understand what tariffs are and how do they work—particularly for those in or nearing retirement. Radon and Murs break down how tariffs work, how they’re implemented, and most importantly, what the Impact of tariffs could mean for your personal financial plan....
Tariffs – What They Are – How They Work – How They Impact You
Tariffs have once again taken center stage in the economic headlines, with governments around the world, especially in the U.S., revisiting this long-standing trade tool. But for many nearing retirement or currently retired, the topic raises questions: What are tariffs and how do they work?What’s the impact of tariffs on my retirement portfolio or the cost of living? And most importantly, how can I prepare for the financial ripple effects?…
