The Wise Money Show™

Can You Retire with Just $1 Million?

Is $1 million enough to retire? It's a question nearly every saver has wondered, and the answer might surprise you. In this episode of Wise Money, we dig into the $1 million retirement goal. What does being a "millionaire" actually mean today? Can you stop saving once you hit that milestone? And how do spending, lifestyle, and longevity factor into your ability to retire confidently? We'll walk through the five key factors that determine retirement success and why your target number may not be the full picture.

Season 10, Episode 51

Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ 

 

Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898.

 

Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow

Listen on podcast: https://link.chtbl.com/WiseMoney 

Watch this episode on YouTube: https://youtu.be/OZxLoLOxAA8 

Submit a question for the show: https://www.korhorn.com/ask-a-question/  

Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ 

 

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Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Get More Tax-Free Growth Before You Retire

Are you just a few years away from retirement and wondering how to get more of your wealth growing tax-free? In this episode of Wise Money, we're answering a question from a listener who wants to maximize Roth contributions in the final stretch of their career. Should you draw from taxable brokerage assets to fund more Roth contributions? What are the tax implications, limits, and risks to watch out for? We'll talk through the strategy, the tax planning considerations, and how to avoid common pitfalls. 

Season 10, Episode 50

Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ 

 

Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898.

 

Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow

Listen on podcast: https://link.chtbl.com/WiseMoney 

Watch this episode on YouTube: https://youtu.be/7EbflSsvgAc 

Submit a question for the show: https://www.korhorn.com/ask-a-question/  

Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ 

 

Connect with us:

Facebook - https://www.facebook.com/WiseMoneyShow 

Instagram - https://www.instagram.com/wisemoneyshow/ 

 

Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

5 Signs You're Not as Financially Secure as You Think

Are you one unexpected expense away from a financial crisis, even if things look fine on the surface? In this episode of Wise Money, we're revealing five hidden signs that you may not be financially secure as you think and helping you identify blind spots, strengthen your financial foundation, and take your next wise step. 

Season 10, Episode 49

Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ 

 

Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898.

 

Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow

Listen on podcast: https://link.chtbl.com/WiseMoney 

Watch this episode on YouTube: https://youtu.be/llxdjVBVw0k 

Submit a question for the show: https://www.korhorn.com/ask-a-question/  

Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ 

 

Connect with us:

Facebook - https://www.facebook.com/WiseMoneyShow 

Instagram - https://www.instagram.com/wisemoneyshow/ 

 

Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Bonus Episode: Why Pastors Need a Special Financial Plan for Retirement

Taxes, savings, and retirement planning work differently for pastors, and if you're in ministry, you need to understand how these unique rules impact your financial plan. In our first Wise Money Spotlight bonus mini episode, we are joined by Brandon Stoller, CFP®, CKA®, for a deep dive into the complex financial planning landscape for pastors and ministers.

Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ 

 

Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898.

 

Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow

Listen on podcast: https://link.chtbl.com/WiseMoney 

Watch this episode on YouTube: https://youtu.be/yjcVN9_M1dE 

Submit a question for the show: https://www.korhorn.com/ask-a-question/  

Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ 

 

Connect with us:

Facebook - https://www.facebook.com/WiseMoneyShow 

Instagram - https://www.instagram.com/wisemoneyshow/ 

 

Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

How the New Tax Laws Impact Your Financial Planning

Big changes are coming with the new tax law, the One Big Beautiful Bill Act (OBBBA), and you need to know how they will impact your financial life. In this episode of Wise Money, we are breaking down what's staying the same, what's changing, and what it all means for your tax planning. From extended tax brackets and standard deductions, to changes in SALT limits and the real facts behind "no tax on tips, overtime or Social Security," we're cutting through the misinformation and helping you plan.

Season 10, Episode 48

Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ 

 

Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898.

 

Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow

Listen on podcast: https://link.chtbl.com/WiseMoney 

Watch this episode on YouTube: https://youtu.be/lpBbNvi7zYE 

Submit a question for the show: https://www.korhorn.com/ask-a-question/  

Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ 

 

Connect with us:

Facebook - https://www.facebook.com/WiseMoneyShow 

Instagram - https://www.instagram.com/wisemoneyshow/ 

 

Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

How Much Guaranteed Income Should You Have in Retirement?

How much of your retirement income should come from guaranteed or steady sources? Striking the right balance between predictable income and flexibility is key to a successful, confident retirement. In this episode of Wise Money, we're discussing what "guaranteed income" really means, the trade-offs between income stability and flexibility, and how to structure your retirement income plan for confidence. 

Season 10, Episode 47

Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ 

 

Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898.

 

Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow

Listen on podcast: https://link.chtbl.com/WiseMoney 

Watch this episode on YouTube: https://youtu.be/q8vGn82x4L8 

Submit a question for the show: https://www.korhorn.com/ask-a-question/  

Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ 

 

Connect with us:

Facebook - https://www.facebook.com/WiseMoneyShow 

Instagram - https://www.instagram.com/wisemoneyshow/ 

 

Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

5 Steps to Financial Independence

Financial independence isn't just about retiring early. It's about gaining freedom, flexibility, and the ability to choose how you live and work. In this episode of The Wise Money Show, we break down the five essential steps you can take to move toward financial independence, whether you're just starting out, nearing retirement, or somewhere in between. We're covering:

- What financial independence really means (and how it's different from retirement)

- The first step: gaining control over your cash flow

- Why increasing your savings rate matters more than you think

- Smart investing strategies that align with your goals and risk tolerance

- How to reduce your lifetime tax burden through tax diversification

- The importance of building your own 5-factor retirement plan

Season 10, Episode 46

Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ 

 

Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898.

 

Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow

Listen on podcast: https://link.chtbl.com/WiseMoney 

Watch this episode on YouTube: https://youtu.be/LGc0mxm1rcY 

Submit a question for the show: https://www.korhorn.com/ask-a-question/  

Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ 

 

Connect with us:

Facebook - https://www.facebook.com/WiseMoneyShow 

Instagram - https://www.instagram.com/wisemoneyshow/ 

 

Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Inherited IRA Rules for Spouses Under the Age of 59.5

Losing a spouse is emotionally devastating, and it also comes with complex financial decisions. If you've inherited an IRA and you're under age 59 1/2, the choices you make could significantly impact your financial future. In this episode of Wise Money, we're joined by Matt Hoke to break down the unique rules and options available to surviving spouses under 95.5 who inherit a retirement account. 

We'll cover:

- The difference between treating the IRA as inherited vs. your own

- How to avoid the 10% early withdrawal penalty

- When Required Minimum Distributions (RMDs) apply

- How to preserve flexibility and optimize tax outcomes

- Common mistakes and how to avoid them

Season 10, Episode 45

 

Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ 

 

Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898.

 

Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow

Listen on podcast: https://link.chtbl.com/WiseMoney 

Watch this episode on YouTube: https://youtu.be/rv5S3wS-89U 

Submit a question for the show: https://www.korhorn.com/ask-a-question/  

Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ 

 

Connect with us:

Facebook - https://www.facebook.com/WiseMoneyShow 

Instagram - https://www.instagram.com/wisemoneyshow/ 

 

Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP®, Joshua Gregory, CFP®, and Matt Hoke, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

ICHRAs - A New Option for Health Insurance

Health insurance is a major decision and a growing trend is reshaping how some employers provide it. Enter the ICHRA, or Individual Coverage Health Reimbursement Arrangement. What is an ICHRA, why are companies offering them, and how can you know if it's a smart decision for you and your family? We're joined by health insurance advisor Corey Johnson to break it down and help you make a wise choice. 

Season 10, Episode 44

Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898.

 

Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow

Listen on podcast: https://link.chtbl.com/WiseMoney 

Watch this episode on YouTube: https://youtu.be/58wi3rgOfUg 

Submit a question for the show: https://www.korhorn.com/ask-a-question/  

Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ 

 

Connect with us:

Facebook - https://www.facebook.com/WiseMoneyShow 

Instagram - https://www.instagram.com/wisemoneyshow/ 

 

Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.

Retiring Early? How to Plan for Health Insurance

If you're planning to retire before you're eligible for Medicare at age 65, one of the biggest questions you'll face is: What do I do about health insurance? In this episode of The Wise Money Show, we break down your options—including COBRA, Healthcare.gov plans, and health-sharing networks.

We'll walk through:

- The pros and cons of COBRA

- How the Affordable Care Act (ACA) can offer major tax credits

- Why income planning is critical for avoiding healthcare surprises

- What to know about health insurance ministries and coverage gaps

- Common health insurance mistakes early retirees make—and how to avoid them

 

Season 10, Episode 43

Download our FREE 5-Factor Retirement guide: https://wisemoneyguides.com/ 

 

Schedule a meeting with one of our CERTIFIED FINANCIAL PLANNERS™: https://www.korhorn.com/contact-korhorn-financial-advisors/ or call 574-247-5898.

 

Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow

Listen on podcast: https://link.chtbl.com/WiseMoney 

Watch this episode on YouTube: https://youtu.be/p8tG5yG_9n8 

Submit a question for the show: https://www.korhorn.com/ask-a-question/  

Read the Wise Money Blog: https://www.korhorn.com/wise-money-blog/ 

 

Connect with us:

Facebook - https://www.facebook.com/WiseMoneyShow 

Instagram - https://www.instagram.com/wisemoneyshow/ 

 

Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.