Are You Making These Common Retirement Planning Mistakes?

Social Security decisions, RMDs, and tax strategies can have a huge impact on your retirement income — but many people don’t realize they’re making costly mistakes until it’s too late.

https://vimeo.com/1165505547

In this episode of The Point Podcast, Landis Wiley and CIO Allen Wallace discuss Social Security timing, RMDs, tax strategies, and why “average” retirement advice may not fit your financial situation.

In this milestone 20th episode of The Point Podcast, hosts Landis Wiley and Chief Investment Officer Allen Wallace break down some of the most common retirement planning mistakes they see—and how smart tax and income strategies can make a major difference in your financial future. 📊💡

From the recent surge in silver prices to long-term retirement planning decisions, this episode explores why “average advice” doesn’t always work for higher earners and those planning for early or well-funded retirement.

Whether you’re approaching retirement or already there, this conversation will help you better understand how Social Security timing, Required Minimum Distributions (RMDs), and tax planning all fit together in a comprehensive financial plan.

✅ In this episode, you’ll learn:

• 🪙 Why silver has surged and how portfolio rebalancing manages risk

• ⚠️ The most common retirement planning mistakes people make

• 💰 Why “average retirement advice” may not apply to your situation

• 📅 How Social Security timing can impact long-term income and taxes

• 🏥 What Medicare IRMAA surcharges are and how they affect premiums

• 📉 How RMDs can create unexpected tax problems later in retirement

• 🎁 How charitable giving strategies can reduce taxable income

• 🧮 Why effective tax rate matters more than your marginal tax bracket

• 🧭 The importance of planning ahead instead of reacting at retirement
  

This episode highlights why retirement planning isn’t just about saving more—it’s about saving smarter and coordinating investments, taxes, income, and legacy planning into one cohesive strategy.

If you’ve ever wondered:

• “Am I doing the right things for retirement?”

• “When should I take Social Security?”

• “How will taxes affect my retirement income?”

• “What mistakes should I avoid as I get closer to retirement?”

We hope you’ve gained some valuable insights or maybe even a fresh perspective on our topic today. We would love to hear from you with your questions or specific topics you would like us to cover.

Be sure to subscribe to our YouTube channel or on your favorite listening app and follow along as we release episodes each month. 

We would enjoy hearing your feedback on the podcast and any topics or questions you would like us to discuss. Please feel free to email us here.

About the Basepoint Wealth Podcast

Hosted by Landis Wiley and featuring insights from Chief Investment Officer Allen Wallace, the Basepoint Wealth Podcast explores timely financial topics with clarity and purpose. Through candid conversations and expert commentary, we help listeners cut through the noise and focus on what matters most in building a confident financial future. Basepoint Wealth is a fee-only fiduciary firm with offices in Cedar Rapids, Dubuque, and Davenport, Iowa. We offer transparent, personalized financial advice designed to align your wealth with your goals—because from here, you can go anywhere.

Basepoint Wealth, LLC is a registered investment advisor. Please visit www.basepointwealth.com for more information and important disclosures.