MDRN Wealth

The first year of retirement can feel a bit clunky. You’re likely not entirely in a low-income bracket yet, as you may still have some income coming in this year—possibly including a PTO payout. On top of that, you’ll need to figure out health insurance, determine how to pay for it, and, of course, tax plan around these issues.In this episode, we break down a real-life example of how this type of planning plays out.

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Besides the question, “Do I have enough to retire?” do you know what the most common concern is for someone retiring before 65? If you’re watching today’s video, you’ve probably already guessed it: health insurance!

Paying for health insurance is one of the biggest reasons people delay retirement until 65. However, the reality is that most people don’t fully understand their health insurance options if they decide to retire be...

What's up, guys? In this episode, we're breaking down brand-new IRS guidance for 2025 that's a total game changer for 401(k)s and Roth accounts. If you're looking to maximize your tax savings or supercharge your Roth with nearly $90,000 in contributions, this episode is for you. We'll explain how these new limits work and show you exactly how to take advantage of them. Trust me, you won't want to miss this!

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• Super...

In this episode, we’re diving into a Fidelity study that uncovers the common traits of 401(k) millionaires. What habits, strategies, and decisions helped them reach that milestone? We’re breaking it all down, sharing actionable insights, and giving you tips to boost your own retirement savings.

Key Topics:

• Study Overview and Context (00:00)
• Five Habits Found in the Fidelity Study (03:38)
• Key Takeaways from the Study (06:13...

If you're a solo business owner running an S-corp and haven’t paid yourself a salary yet, this episode is for you! We’re breaking down how to run a one-time payroll (salary) at the end of the year, how to incorporate your 401(k) contributions, and how to withhold additional taxes if needed.

Resources Mentioned:

• Article to solo 401k

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• How to Run One Payroll at the End of the Year (00:00)
• The Walkthroug...

We’re almost at the end of the year, and if you’re like many solo business owners—whether you’re running a sole proprietorship, LLC, or an LLC taxed as an S-corp—let’s be honest: you’ve probably done little to no tax or financial planning for your business this year.

But don’t worry! Today, we’re going to cover three key action items you should tackle before the year ends. Trust me, you won’t want to miss this.

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The election is officially behind us, and with not only a Trump victory but also a complete Republican sweep of the House and Senate, what does this mean for taxes? Today, we’re breaking down everything you need to know about the changes that are very likely on the way. This is one episode you definitely don’t want to miss!

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• What a Trump Win and Republican Sweep Means for Taxes (00:00)
• Breaking Down the Tax Cut ...

In this episode, we dive into the strategy of tax loss harvesting as year-end approaches. Learn how to strategically sell underperforming investments to capture losses, offset gains, and potentially reduce your taxable income.

We'll guide you on what to sell, how to avoid the "wash sale" rule, and why replacing assets with similar alternatives can keep you positioned for growth.

This savvy approach could add 0.5%–2% annually to you...

The Federal Reserve has finally cut interest rates for the first time in four years. This past week, the Fed announced a rate cut of 50 basis points (0.50%), lowering the effective federal funds rate from 5.33% to 4.83%. So, what does this mean for you? In today’s episode, we’ll break down how this rate cut impacts you, along with addressing some major misconceptions about rate cuts that you won’t want to miss.

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Today, we're breaking down the "House-Rich, Cash-Poor" epidemic. In the United States, a large number of retirees have most of their wealth tied up in their primary residence, with very little left in liquid savings like 401(k)s, Roth IRAs, or brokerage accounts. A big part of the issue comes from financial gurus, like Dave Ramsey, preaching that paying off your home early is the key to optimizing wealth.

If you own a...

I want you to take a moment to think about how you can generate tax-free wealth for your kids. For most people, two primary vehicles come to mind: the first is a Roth IRA, and the second is a 529 account.

But here’s the issue—most kids don’t have earned income, so they can’t contribute to a Roth IRA, which takes that option off the table.The second option, a 529 account, can only be used for qualified education expenses. If the fun...

The Mega Backdoor Roth is one of the most powerful strategies you can use to potentially contribute over $69,000 into a Roth IRA. But did you know that you can set this up in a Solo 401(k)? This week, we are going to break down how someone who is self-employed can set up their Solo 401(k) to be Mega Backdoor Roth compatible.

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• Prerequisites to the Mega Backdoor Roth (00:00)
• Specialized Adoption Agreement (02:...

We’re going to break down the most optimal structure and system for managing your wealth. If you're wondering whether you should have trusts, LLCs, or what assets should be placed in these structures, we’ll cover it all in an easy-to-understand way. I promise, you don’t want to miss this.

Key Topics:

• The Center of the Wealth Structure: You (01:40)
• Retirement Assets (Assets in our name) (02:05)
• Revocable Living Tru...

When the Tax Cut and Jobs Act imposed the 10k SALT deduction limit, states with high taxes, like California, were outraged. Their taxpayers faced significantly higher federal tax bills. As a workaround, the Pass-Through Entity Tax Election was created.

PTET is an elective tax that business owners pay at the entity level. Instead of business income passing through to their individual return, they pay a separate state tax on the...

Short-Term Rentals (STRs) are one of the few ways to gain exposure to real estate as a non-real estate professional while taking advantage of some of the incredible tax benefits that real estate offers. However, getting into the business of investing in Short-Term Rentals can require a lot of work. This week, we're breaking down how to identify STR opportunities and how to optimize their returns with Real Estate Advisor Eric Ra...

First-round pick of the 2024 NFL Draft, Caleb Williams, makes headlines for wanting to do some "creative" tax planning with his NFL money. We're breaking it down!

Key Topics:

• Breaking Down the Caleb Williams LLC Proposal (01:26)
• Breaking Down the Forgivable Loan Element (02:53)
• How Rich People Use Loans to Avoid Taxes and How This is Different (03:52)
• LLCs and Their Benefits and Misconceptions (04:55)
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Making money is one thing; building wealth is another. In this episode, we break down how high-income individuals can go from rich to wealthy. From the mental side of the game to how to approach saving, we've got you covered. I promise you, you don't want to miss it.

Key Topics:

• Gratitude and Finding Your Why (01:11)
• Lifestyle Creep (03:02)
• Take Advantage of the Fact That You’re Making this Amount of Money (04...

There are many different places to put your money to ensure you build wealth. But with all these options, how do you know which one to pick? How do you know which ones to prioritize over others? Today, we're giving you a roadmap on how to invest your hard-earned dollars. You don't want to miss it.

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• #1: Creating a Base Cash Reserve in Your Checking Account (01:34)
• #2: Taking Advantage of Your 401(k) Ma...

This is a tax that is going to blindside a lot of people, and it’s shocking how many new clients I work with have no idea what it is. Net Investment Income Tax was intended to tax the investment income of high-income individuals. However, more and more taxpayers are now subject to this tax since the brackets have not been adjusted for inflation. Today, we are breaking down what it is, how it works, and how to plan around it.

K...