In this episode of The Asset Preservation Hour, financial advisor Stewart Willis and co-host Spike Spengel tackle a problem nobody warns you about: retirees who did everything right, saved diligently for decades, and then spend their retirement too afraid to enjoy it. Stewart makes the case that living far below your means out of fear is just as damaging as never saving at all, and that the cure is a clear plan showing exactly what you can spend and why.
Much of that fear traces back to taxes. Stewart explains why taxes are on sale right now, why he expects rates to climb back toward historical highs, and how scheduling Roth conversions over several years can help you get ahead of it. You'll hear why the money sitting in your IRA, 401k, or 403b isn't entirely yours, how Uncle Sam takes a bigger piece the more you withdraw, and how IRMAA penalties, state taxes, and Social Security taxation can stack up until a huge share of every dollar disappears.
The conversation also digs into a real client situation involving a $200,000 withdrawal meant to fund a down payment for an adult daughter who earns a seven figure household income, a decision that would have triggered penalties and unnecessary taxes on a Roth still inside its five year window. Stewart and Spike walk through estate tax exposure for property rich families like Midwestern farmers, the training discipline Stewart brings to jiu jitsu and why it mirrors retirement planning, and the reason he flew to Denver to meet three generations of one family in a single trip. As Asset Preservation approaches its 30th year in business, the message is simple: the greatest legacy you can leave is a family that knows what to do with what you leave them.
📞 Call 877-5-RETIRE or visit AssetPreservationWealth.com to schedule your complimentary tax review and portfolio review.
What is The Asset Preservation Hour?
Join Stewart Willis, President of Asset Preservation Tax & Retirement Services, and co-host Spike Spengel as they explore strategies for protecting, growing, and maximizing your wealth. Designed for those in or near retirement, this podcast delivers expert insights on tax planning, investment advice, estate planning, and building a secure financial future—all tailored to help you make the most of your life’s work.