In this episode of the One of a Kind Financial Show Daily, host Mike Milligan and co‑host Gary Nolan discuss why January is the optimal time for retirees and pre‑retirees to reset their financial plans for 2026. They highlight the annual rollout of new contribution limits, tax law changes, and program updates, urging listeners to proactively align their retirement income, Social Security timing, withdrawal strategies, and portfolio risk tolerance with the latest rules. The conversation stresses that taxes are the largest expense retirees face and advocates for a year‑round, strategic tax‑minimization plan—positioned as the top layer of their trademarked “One of a Kind Financial Plan.” They also cover the need to review Medicare, supplemental coverage, and long‑term care plans each year, and they tie financial planning to broader life priorities and purpose. Throughout, the hosts provide practical calls to action, including a phone number and text line for listeners to schedule a consultation, and they close with standard advisory disclosures.
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It is Friday, January 9th. We made it through a week, guys. Let's give ourselves a pat on the back. This is the One of a Kind Financial Show Daily. If you have listened to all 5 episodes this week of the One of a Kind Financial Show, you are on path to build new habits for 2026. I hope that you're listening to this on a little bit faster speed, but even if you're spending the full 7, 8 to 10 minutes before the disclosures hearing things that educate, coach you, and help ultimately build plans, thank you. I appreciate you. Your life does not get better by chance. It gets better by change. Jim Rohn, a noted coach and strategist, said this, and many people have I've heard this to implement big changes in the entrepreneur world. Well, Gary and I spent some time on the One of a Kind Financial Show looking at change that has happened and how we react to change. And I'll give you, I'll give you the ending if you want it, but I still want you to listen to the episode. A well-laid-out plan will help deaden the stress and anxiety that comes with it. As we end the week this week, listen to the changes that are coming and how you can live a one-of-a-kind life in the midst of that.
So welcome back. As we begin the first week of January, something interesting happens almost every year in the US. New financial policies, tax updates, retirement rule adjustments, and program changes tend to roll out this time of year, don't they, Mike?
They do. January has historically been a financial reset month for America, and we believe it should also be a smart reset point for retirees and pre-retirees to review their plans.
Yeah, let's think about it. New contribution limits, policy adjustments, programs, eligibility updates. A lot happens in January.
Oh my gosh. And it's happened again in 2026. And rather than reacting months later, January is a great time to ask, does my retirement plan still align with current rules? Am I maximizing the opportunities available to me? Are there smarter ways to structure income and taxes this year? We aren't talking about speculation. We're talking about awareness and intentional planning.
Yeah. So let me tell you what January, I think, is a good time for, Mike. It's a great time to revisit Social Security timing strategy, income sources, withdrawal approach, and budget alignment. All those things seem to make sense to do that in January, doesn't it?
I cannot agree with you more, Gary. A structured retirement income plan isn't about guessing. It's about mapping out strategies and updating as life and policies evolve.
So the tax law changes can impact retirees differently than working households?
Definitely. January gives you time to prepare instead of being surprised at tax time. Understanding tax brackets, which, you know, they change every year. The numbers go up and you need to understand where they are. Understand withdrawal strategies, understanding capital gains exposure, Understanding required distributions. This all helps people make better and more informed choices with their advisor.
Yeah, and a lot of advisors don't really want to talk about taxes. They'll just kind of punt it over to the CPA and the CPA will punt it back to the financial advisor. And you get caught in the middle and you're really not getting that tax help that you need. Am I right, Mike?
Yeah, nobody does tax planning, Jerry.
Nobody.
I mean, I'd love to— it's like people will put lipstick on a pig. And they'll say, we just did tax planning, right? Or the tax planning will be something like, make that deduction before the year end. People want to start doing tax planning in like December. Guys, why not use the whole year to do tax planning? Because when you put tax planning at the key of your financial plan, it's easier to save money. The percentages are bigger. when you have a tax plan than by trying to shave 0.2% off of your advisor fee or trying to get like an extra 1%. Now, an extra 1% compounded over 30 years is a big deal. Imagine if you could save an extra 4% or 5% in taxes compounded over 30 years. It would be, it would be huge. Yeah.
So tax minimization strategies, it's a big part of the one-of-a-kind financial plan, isn't it, Mike?
It's at the top of the pyramid, guys. I don't mean to, I'm not under, I don't want to underemphasize this going into 2026. Taxes are the biggest expense you'll ever pay in your life, ever. And there's nothing second to this, right? Because the IRS is going to get their share. The state that you live in is going to get their share, either in the form of income tax or real estate tax. When you go and buy something, the state, the city, they're going to get it from the form of sales tax. If you don't put a tax strategy in place to minimize it, you are just passively allowing the government to take your money, your hard-earned money, your hard-earned saved money. And we need to create a strategy so you keep more and we pay them only what they're owed, not more than what they're owed.
Right. Exactly. The show is the one-of-a-kind financial show with Mike Milligan. I'm Gary Nolan, your consumer advocate. Thank you for joining us. That phone number is 800-748-1838. 800-748-1838. Or text the word ideas to 600-700. Ideas to 600-700. The phone number again, 800-748-1838. January is also a great time to ask, does my portfolio still align with my risk tolerance and goals? It's a good place to start.
Guys, market changes. They happen all the time. Life changes. Risk tolerance changes. So you have to be intentional rather than reactionary. This helps keep investment strategy aligned to purpose. Guys, Rick, a lot of people that I run into, their risk capacity changes when they go from working years to retirement years, but their portfolio doesn't show that because they don't know how to properly articulate that they're a little more scared when they reach retirement than when they were working. And the same person that helped them grow their money is using the same approaches that they used when they were working. And that, quite honestly, guys, needs to change.
Right. Absolutely. And healthcare costs, they continue to evolve every year too. That always happens.
Oh man. Medicare, man, 2026 is a healthcare ticking time bomb. In the United States. And I'm not going to go into that now. I'm just going to say that we need to review Medicare planning. We need to review supplemental coverages, long-term care strategy at the start of the year. That helps maintain financial flexibility. And if anything unexpected happens, we could plan for it.
So January is also a meaningful time to reflect on life's priorities. I mean, it's a good place to start. It's a brand new year, Mike.
That's why people create resolutions. I mean, here we are in the first weekend of the year. And I mean, If you're listening right now, how many of those resolutions do you still have? How many are still intact? I think our audience is a little more astute, right? That they wouldn't create a resolution they didn't know they could follow through on. But if retirement isn't only about money, it's about purpose, values, family, and the difference you want to make. So if one of your priorities or resolutions for this year is to create some financial structure, I'd like to help you because I believe it can support Meaningful, one-of-a-kind living.
All right. So tell us one more time about the One of a Kind Financial Plan, Mike.
Oh, it's great. I mean, I just absolutely love the One of a Kind Financial Plan. If you guys don't get that coming through your speakers every week when you're listening to this, the One of a Kind Financial Plan is something that I built. I actually hold the trademark on it, guys. If you want to go to the US Patent and Trade Office and look at that, look at the trademark. Who owns that? It's Mike Milligan. Right? I created the one-of-a-kind financial plan to be able to reduce taxes, create retirement income you can't outlive, uh, create an investment portfolio that gets the risk aligned to where you are in your life and the fees that are worthy, that are paid, a long-term care strategy that makes sense. So the younger version of you plans to take care of the older version of you and a legacy plan that says, I love you. Guys, the one-of-a-kind financial plan is here today. And we're going to help you address risk capacity issues, put a written tax plan in place. and give you an income plan that is easy to see for 2026 and beyond. Gary, today, will you tell people how to call us and get in and get on my calendar?
Sure, Mike. Happy to do so. 800-748-1838. The first step, the very first step is sit down with a financial coach, to sit down with Mike and the team. If something we've been talking about resonates with you, maybe you feel a need to get the second opinion. Pick up the phone, dial this number, 748-1838. 1-800-748-1838. That's 800. Don't forget about the 800. 800-748-1838. I got so excited, forgot about the 800. Or text the word ideas to 600-700.
This has been the One of a Kind Financial Show Daily with your host, Mike Milligan. Again, Gary gave you ways to connect with us on the phone number or our text line. But I want to remind you that I am— that's Mike Milligan— is an investment advisory rep with Advisory Alpha LLC. Ideas by Mike, doing business as One Oak Financial, is an unaffiliated entity of Advisory Alpha LLC. All opinions expressed by me and Gary Nolan from the One of a Kind Financial Show are strictly our opinions. This is done for education purposes only. Please consult with a tax advisor, a qualified financial professional, or various resources that are out there offered by investor.gov, socialsecurity.gov or, um, or other reliable sources. Until next time, this has been Mike Milligan.
Take a stand. Visibility, strategy, take the lead. Transformation's yours, fulfill the need. Mike's got the way. To help you rise and stay. Leadership impact you'll find in your one-of-a-kind mind. Be one of a kind. Take the flight. Mike's the guide. You'll shine bright. Ooh, ooh.
