2025 The Final Drive Podcast

12/06/2024

The latest episode is ready to enjoy!
https://2025thefinaldrive.libsyn.com/ed-slotts-tips-for-the-tax-time-bomb

In this episode, David shares insights from his recent trip to the Ed Slott Elite IRA Advisor Conference in California. Ed Slott - considered America's IRA Expert - released his latest book in June. The Retirement Savings Time Bomb Ticks Louder gives readers important information about the Secure Act 2.0, Charitable Gifting, Required Minimum Distributions and more... and David will highlight some of those strategies and more for listeners.

11/22/2024

Season 2, Episode 4 is up! 🎙 https://2025thefinaldrive.libsyn.com/the-elections-over-what-comes-next

On November 7, 2024, American's voted to elect Republican Donald Trump back to the White House for a second, nonconsecutive term - the first President to do so since Grover Cleveland in 1893.

In this latest episode, David is joined by Rod Holloway, Equity Portfolio Manager for CFCI, to discuss the the election and how the markets reacted to Trump's election. ☑️David and Rod also address government spending, debt and strategies to address inefficiencies, Federal Reserve rate cuts and their implications on the economy and consider different scenarios of what may happen in Trump's second term of office.

The economic landscape may be evolving in 2025 - make sure you keep listening to the podcast!

11/01/2024

S2 E3 is live! https://2025thefinaldrive.libsyn.com/the-rothification-of-retirement-accounts

In 2001, Congress approved the 402A rule to the US tax code, allowing employees to designate a portion or all of their elective deferrals as Roth contributions within employer-sponsored retirement plans like 401(k) and 403(b) plans. This designation means that employees pay income taxes on contributions upfront rather than when they withdraw the funds... or, in essence, paying tax on the seed instead of the harvest.

In this episode David dives into the "Rothification" of retirement accounts... why it's important to understand the math behind this process from both the individual perspective and the federal government viewpoint. David will also share about how savers can use other ways to boost Roth IRA and 401(k) balances ahead of the 2025 tax deadline.

10/25/2024

The next episode from Season II is up! https://2025thefinaldrive.libsyn.com/control-now-or-later

With the Presidential election just days away, it’s important to look at where the candidates stand on Social Security, the national debt and more.

In this episode, David Hays and guest Doug Hughes talk about financial control by Americans and by the US government. With the 2025 tax cuts up in the air, a lot is on the line for millions of people – David and Doug talk about the financial needs of Baby Boomers and their children and the value of diversification. There is a lot to consider when listening to this episode – enjoy!

09/04/2024

We are back with a new season of the 2025 podcast! 🎙
https://2025thefinaldrive.libsyn.com/bond-vigilantes-and-us-debt

Season Two kicks off with Bond Vigilantes and US Debt - when are countries going to stop buying American debt? The US is nearing the point where it will spend more money on debt than defense spending. Listen to David talk about how the US got out of debt after World War II and what the next President will need to do about the national deficit.

What does that mean for Americans? You’ll have to listen to the full episode to find out.

01/29/2024

01/11/2024

A silver tsunami is coming this year, as more than four million Baby Boomers turn 65 in 2024.

https://2025thefinaldrive.libsyn.com/-2025-the-final-drive-s1-e53-whats-in-store-for-2024

In the episode, David shares about some of the top IRA rulings for 2023, the importance of emergency savings, federal estate taxes, what listeners can expect this year as part of the SECURE Act… and the possible benefits of moving to Florida.

Grab a slice of pie (there’s a reason for that teaser) and enjoy!

12/04/2023

With 2024 just days away, David has a few things to consider regarding taxes.

Mutual fund gain distributions, tax penalties, lost harvesting, wash sale rules and phantom gains are all touched on in the podcast.

Take the time to listen and take necessary action before the end of 2023!

https://2025thefinaldrive.libsyn.com/2025-the-final-drive-s1-e52-control-your-tax-destiny

11/14/2023

Episode 51 is on the air! https://bit.ly/2025_TFD_EP_51

With the end of 2023 just weeks away, many people are looking to pay the taxes on a Roth IRA conversion... but what is the best way way?

This week David will offer some different ideas, including paying out-of-pocket or taking a 401k loan. Listen in to hear some options on minimizing the pain of paying those taxes now… and remember the pain later could be a lot worse.

10/10/2023

Episode 50 is out! "To Depreciate or Not Depreciate... that is the question!"

https://2025thefinaldrive.libsyn.com/2025-the-final-drive-s1-e50-to-depreciate-or-not-depreciate-that-is-the-question

Depreciation may sound like a bad thing to some people, but it can be a benefit when it comes to finances. On this episode, David Hays welcomes Martin James, CPA, back to discuss various aspects of depreciation on property, the differences in active versus passive real estate investing, land leases and the potential tax benefits of loans.

09/25/2023

https://bit.ly/2025_TFD_S1_E49

Debt is a part of life for many people, and it’s always important to manage your debt appropriately. On this episode, David and Marty James, CPA, discuss the benefits of having cash available versus using credit, as well as the importance of having a steady income stream in retirement. David and Marty also share about the potential benefits of doing a Roth IRA conversion in preparing for retirement.

Catch Episode 49 - Debt Elimination Before Retirement!

09/11/2023

On this 22nd anniversary of 9/11, we take a moment to join millions of others and remember the innocent lives lost, the survivors and their families.

“If we learn nothing else from this tragedy, we learn that life is short and there is no time for hate.” — Sandy Dahl, wife of Flight 93 pilot Jason Dahl.

08/30/2023

Our new episode is out!

For Americans planning to retire before becoming eligible for Medicare, there can be challenges in finding affordable health care. In this episode, David welcomes Martin “Marty” James, CPA, to the podcast to discuss potential ways to minimize the impact of higher-cost insurance.

Listen here - https://rb.gy/nfaj6

Thank you for listening - and let me know if you have questions!
www.cfci.us

08/29/2023

What will the Secure Act 2.0 affect 2025 and our retirement account rules?
Have you considered the change this could bring to your children's 529 Plan?
Why are required minimum distributions starting at 75 when we need the money now?

As long as insurance companies, other countries, etc. are willing to buy our debt we can expect these kinds of changes in our future.

Join me in this episode to learn how, why, and when this is happening. https://bit.ly/3Qzozmj

08/25/2023

Is Life Insurance a better Investment than an IRA
How does this happen?

The advantages of a life insurance policy include a death benefit for your children - leaving a legacy, cash value grows, borrowing against a life insurance policy, and it grows tax free. When looking at your IRA you are limited on your options, including the conversions you need to make into your Roth.

Listen in to learn more. https://bit.ly/3VBJuWJ

08/23/2023

Let's look at Installment Sales:
📈 How do you structure them?
😜 What makes sense?
🙅 What’s good for the buyer might not be good for the seller.

Did you know what's taxable to the seller may not be favorable for deprecation for the buyer?
We've discussed tax deferred exchanges in a previous podcast, but what about a contract sale or an installment sale?
Where is the cheapest place to get my money? Is it my loan? 401K? My IRA accounts?

Join me as we begin this conversation today. https://bit.ly/3FUJHyC

08/15/2023

Are you wondering what to do with your Estate Planning before 2025?
❓ What are the benefits of an Estate?
❓Life Insurance?
❓IRAs?
❓Business?
The simple answer: Ｅｖｅｒｙｔｈｉｎｇ！

In this episode I get into the ins and outs of your Estate Planning and how to navigate the upcoming changes.
Listen Now https://bit.ly/3G5FYze

08/14/2023

Ａｃｔ Ｎｏｗ！

The ability to take your Required Minimum Distributions (RMDs) and Qualified Charitable Distributions (QCDs) end on Dec 31st!

In this episode I lay out 5 easy steps on how to calculate your RMD total and how to navigate your QCDs. Remember QCDs can be made from an inactive SEP, Simple IRA, or Roth account.

As the Holidays are coming up, I enjoy discussing Gift Giving Ideas for the whole family as well!
Listen Now https://bit.ly/3TjxBp4