The Parmesan Reset and the Women’s Retirement Marathon

We believe retirement is more than a milestone. It is your personal turning point. Our purpose is to help make retirement the best part of your life. On this week’s episode of Retire Well, Josh Bretl and Mark Elliott explore how to find focus and confidence in a world full of volatile headlines and complex financial rules.

The Parmesan Reset: A Lesson in Focus

The news can often be an addiction that adds to your anxiety. Josh shared a story about a quiet Sunday with his family where everyone felt lethargic and out of sorts.

To turn the mood around, they went for a nice dinner at Luca in Oakbrook. By the time the kids were enjoying mocktails and a pasta dish mixed inside a giant wheel of Parmesan cheese, the nervousness subsided and the conversation started.

Retirement planning requires a similar reset.

While market headlines focus on the Magnificent Seven tech stocks or geopolitical crises, you need a plan that works regardless of what is happening in the world.

Whether you are considering a 401k rollover at age 59 and a half for more control or trying to understand the balance between active and passive management, your strategy must be customized to your goals.

At Wellment, we turn financial complexity into a clear path.

The Women’s Retirement Marathon: Navigating the Whammies

For many women, retirement is not just a destination. It is a 30 year marathon. Because women statistically outlive their male counterparts, they face an amplified set of financial risks. When a spouse passes away, the survivor often encounters a series of financial challenges that Josh refers to as whammies.

• The Income Whammy: You lose the lower of the two Social Security checks and potentially part of a pension.
• The Single Tax Whammy: Moving from a married status to a single filer can result in a massive tax increase, even as your income drops.
• The Medicare Whammy: IRMAA thresholds for Medicare premiums are much lower for single individuals, meaning your healthcare costs could go up.

The Wellment Way planning process is designed to address these “what ifs” before they happen. By coordinating Social Security benefit strategies and addressing long term care needs today, we help you step into your next chapter with clarity and control.

The Eighty Thousand Dollar Office Wedding

Tax planning is about more than just this year’s return. It is about your lifetime taxes.

Josh shared the story of Tom and Jane, a couple whose 2020 wedding was repeatedly postponed. Josh had recommended a large Roth conversion based on their expected married filing status.

If they had not married by the end of the year, that decision would have cost them an extra eighty thousand dollars in taxes. They ended up getting married in the Wellment office on December 28th to ensure they kept more of what they earned.

This highlights the importance of having in house CPAs who build tax planning into everything we do. We want you to own your retirement with confidence instead of leaving it to chance.