In this episode, Phil Capriotti Sr. and Spike Spengel dive into one of the most overlooked parts of retirement planning — the mistakes investors make with their IRAs and other tax-deferred accounts. Phil explains why where and how you open your IRA matters, how to properly execute rollovers, and why “insurance-only” advisors may unintentionally lock clients into the wrong products. He outlines the critical difference between a direct (trustee-to-trustee) rollover and a 60-day rollover — and how missing one small deadline can trigger an irreversible taxable event.

Listeners also learn how to manage tax brackets strategically, avoid inefficiencies in taxable portfolios, and understand how capital-gain and dividend placements affect annual taxes. Phil emphasizes diversification, especially for those holding company stock or stock options in retirement plans, reminding listeners that concentration risk can jeopardize decades of hard work. This episode wraps up with a discussion on keeping beneficiary designations current and how outdated paperwork — even with a trust in place — can send inherited wealth to the wrong person.