How can you make the most of your finances in your 60s? In this episode of the Ask Ralph Show, Ralph shares practical advice about retirement savings, filing IRS Form 8606, and finding side hustles to boost income. Ralph and his special guest, Dr. Craig Van Slyke, offer tips on balancing faith and finances, with encouraging Bible verses to guide decisions. This episode covers listener questions about saving wisely, managing taxes on retirement plans, and using technology to create extra income. With a focus on honoring God and planning for the future, this episode surely provides hope and actionable steps for financial peace in your golden years, including a deep dive into what's changing in your 401(k) in 2025 and how it could impact your retirement planning.
Read today’s blog article: https://www.askralphpodcast.com/blog/will-401k-changes-impact-your-savings/
https://www.askralphpodcast.com/changing-in-your-401K/
Podcast Timestamps:
00:00 Episode Overview
00:59 Guest Introduction: Dr. Craig Van Slyke and His Podcast - AI Goes To College https://aigoestocollege.com/
01:19 Listener Question #1 Understanding Secure Act 2.0 and Catch-Up Contributions
02:33 If You Have A Question You'd Like Answered, Head Over To https://justaskralph.com/
02:46 Bible Verse: Proverbs 21:20
03:18 Detailed Breakdown of Catch-Up Contributions
06:34 Balancing Retirement Savings and Debt
09:04 Honoring God with Your Retirement Plans
17:23 Listener Question #2: Form 8606 - What You Need to Know
18:10 What is Form 8606?
19:35 Who Needs to File Form 8606?
20:15 Do You Need to File Form 8606 Every Year You Contribute to a Roth IRA?
22:51 What Happens If You Don’t File Form 8606?
30:04 Listener Question #3: Starting a Side Hustle - Tips for Success
30:42 Top Side Hustles Requiring No Experience
35:01 How to Make a Side Hustle Successful
43:46 Treating Side Hustles Like a Business
49:10 Mail Bag: Listener’s Testimonials
50:17 Share Your Story With Ralph! Email Ralph Directly At ralph@askralph.com
50:25 Visit https://www.askralphpodcast.com/blog/ for Free Financial Resources
51:01 Join the Ask Ralph Newsletter http://askralphpodcast.com/newsletter for Daily Encouragement & Financial Tips!
52:38 Closing
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