Purposeful Planning with Aspen Wealth Management

Dreaming of early retirement? There's a critical detail many people overlook: health insurance coverage in the years before Medicare kicks in at 65. In this episode of Purposeful Planning, we explore the healthcare gap that early retirees face and walk through your options, from the Health Insurance Marketplace to COBRA and Health Savings Accounts. Whether you're planning to retire in your fifties or helping someone navigate this transition, understanding these options is essential for making early retirement work.  Sources:   https://www.empower.com/the-currency/life/big-life-changes-research https://crr.bc.edu/will-the-average-retirement-age-keep-rising/ https://www.transamericainstitute.org/research/publications/details/retiree-life-in-the-post-pandemic-economy-2024  https://www.healthcare.gov/quick-guide/  https://www.congress.gov/crs-product/R48290  https://www.gao.gov/products/gao-25-106798  https://www.kff.org/medicare/retiree-health-benefits-going-going-nearly-gone/#:~:text=For%20the%20past%2025%20years,down%20from%2066%25%20in%201988. https://www.dol.gov/general/topic/health-plans/cobra  https://www.healthcare.gov/high-deductible-health-plan/hdhp-hsa-work-together/#:~:text=If%20you%20don't%20use,that%20Medicare%20doesn't%20cover.  https://www.aspenwealthmgmt.com/resource-center/retirement/medicare-made-easy-retirement-healthcare-costs    The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice. Aspen Wealth Management is a registered investment advisor with the SEC. This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

Remember those old Crock-Pots where you could set it and forget it? Estate planning doesn't work that way. In this episode of Purposeful Planning, we examine why the "set-it-and-forget-it" approach to estate planning can lead to costly mistakes, particularly with $80-125 trillion expected to be transferred between generations over the next two decades. From outdated beneficiary designations to changes in tax law, discover why regular reviews are essential and what mistakes to avoid.  Sources:    https://smartasset.com/taxes/trust-tax-rates https://taxpolicycenter.org/briefing-book/how-do-state-and-local-estate-and-inheritance-taxes-work https://www.aspenwealthmgmt.com/resource-center/financial-planning/next-generation-financial-leadership https://www.aspenwealthmgmt.com/resource-center/estate/estate-planning-mistakes-to-avoid  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

Social Security provides retirement income for millions of Americans, yet many people can't answer basic questions about how it works. In this episode of Purposeful Planning, we explore everything from setting up your online account to deciding when to claim benefits. Whether you're helping aging parents navigate their options or planning your own retirement strategy, understanding Social Security is crucial for making informed decisions that could impact your financial security for decades.  Sources:    https://www.cbpp.org/research/social-security/top-ten-facts-about-social-security#:~:text=It%20also%20provides%20important%20life,Social%20Security%20payroll%20tax%20contributions:  https://www.gobankingrates.com/retirement/social-security/americans-dont-understand-facts-about-social-security/  https://www.ssa.gov/myaccount/  https://www.ssa.gov/benefits/retirement/planner/agereduction.html https://www.ssa.gov/faqs/en/questions/KA-02459.html  https://www.aspenwealthmgmt.com/resource-center/retirement/medicare-made-easy-retirement-healthcare-costs https://www.aspenwealthmgmt.com/resource-center/blog/social-security-retirement-basics-what-to-know   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

When you're starting your career, financial planning can feel like a luxury you can't afford. In this episode of Purposeful Planning, we explore why establishing good financial habits early is one of the most powerful moves young professionals can make. From the magic of compound growth to practical strategies for saving and investing, discover how small steps today can lead to significant financial security tomorrow.  Sources:    https://www.cnbc.com/2025/06/04/expert-tips-for-saving-more-money.html https://www.sofi.com/learn/content/average-stock-market-return/#:~:text=The%20average%20stock%20market%20return%20of%20the%20S&P%20500%20is,much%20higher%20or%20much%20lower https://business.yougov.com/content/51940-what-kind-of-americans-own-stocks-and-how-do-they-handle-volatility https://www.aspenwealthmgmt.com/resource-center/financial-planning/good-financial-habits-for-young-couples https://www.aspenwealthmgmt.com/resource-center/financial-planning/starting-on-the-right-foot-financial-tips-for-young-professionals  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

After decades of saving for retirement, many people focus entirely on accumulation without considering how they'll actually withdraw those funds. In this episode of Purposeful Planning, we explore retirement withdrawal strategies that can help you pay less in taxes, protect your Social Security benefits, and potentially make your money last longer. From the conventional wisdom of spending taxable accounts first to alternative approaches that might work better for your situation, discover how to turn your nest egg into sustainable retirement income.  Sources:    https://www.ssa.gov/OACT/population/longevity.html https://www.schwab.com/public/file/P-13005058  https://www.cbsnews.com/news/how-much-of-your-social-security-income-is-taxable/#:~:text=If%20your%20combined%20income%20is%20less%20than,85%25%20of%20your%20benefits%20may%20be%20taxable. https://www.aspenwealthmgmt.com/blog/webinars/tax-smart-retirement-keeping-more-of-what-youve-earned  https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

As summer winds down and college preparations begin, families face important decisions about education funding, school selection, and financial aid. In this episode of Purposeful Planning, we explore strategies for making college more affordable and manageable—from the power of starting early with 529 plans to navigating the updated FAFSA process. Whether you're sending your first child to college or your last, these insights can help you make informed decisions about higher education investments.  Sources:    https://www.aspenwealthmgmt.com/resource-center/lifestyle/countdown-to-college/ https://www.aspenwealthmgmt.com/resource-center/estate/smart-tips-for-529-plans https://www.aspenwealthmgmt.com/resource-center/blog/fafsa-changes-2024-25/ https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth https://www.aspenwealthmgmt.com/resource-center/financial-planning/college-funding-planning   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.

Medicare decisions can feel overwhelming, but they're among the most essential choices you'll make in retirement. In this episode of Purposeful Planning, we break down the four parts of Medicare, explain the difference between Medicare Advantage and Medigap coverage, and share crucial timing information about enrollment periods. Whether you're approaching 65 or helping a parent navigate these decisions, understanding Medicare basics can provide peace of mind about healthcare costs in retirement.  Sources:    http://news.ehealthinsurance.com/news/health-care-costs-top-the-list-of-financial-worries-in-retirement-new-research-from-ehealth-and-retirable-shows  https://www.aarp.org/medicare/understanding-medicare-the-plans/ https://www.ssa.gov/benefits/medicare/medicare-premiums.html https://www.medicare.gov/health-drug-plans/health-plans/your-health-plan-options https://www.ncoa.org/article/what-is-the-difference-between-medicare-advantage-and-medigap/  https://www.medicare.gov/basics/get-started-with-medicare/sign-up/when-does-medicare-coverage-start  https://www.investopedia.com/terms/c/creditable-coverage.asp  https://www.aspenwealthmgmt.com/blog/webinars/medicare-made-easy-preparing-for-healthcare-costs-in-retirement/  https://www.aspenwealthmgmt.com/contact-us-fee-only-advisors-fort-worth https://www.aspenwealthmgmt.com/resource-center/retirement/medicare-made-easy-retirement-healthcare-costs  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice. Aspen Wealth Management is a registered investment advisor with the SEC. This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings. 

Restricted Stock Units can be a powerful wealth-building tool for corporate executives, but they come with important decisions about timing, taxes, and portfolio diversification. In this episode of Purposeful Planning, we break down the key factors executives should consider when managing RSUs—from understanding vesting schedules to avoiding over-concentration in company stock. Learn how to make strategic decisions that align with your overall financial goals.  Sources:    https://www.aspenwealthmgmt.com/resource-center/financial-planning/knowing-how-and-when-to-sell-rsus  https://www.aspenwealthmgmt.com/resource-center/blog/understanding-your-options   The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.    This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.   Aspen Wealth Management is a registered investment advisor with the SEC.  This recorded posting utilizes AI generated voiceovers. While the Firm strictly prohibits the use of AI for advisory activities constituting investment advice, financial plans, portfolio analysis and management, and reporting, the use of AI for other purposes, such as voiceovers, is permitted and utilized for the firm’s recordings.