Cody Lachner, CFP, EA - Next Adventure Financial

Home
United States
Lafayette, IN
Cody Lachner, CFP, EA - Next Adventure Financial

Our speciality is working with folks aged 50+ who seek to lower taxes, improve their investments, and maximize their retirement.

Next Adventure Financial specializes in working with folks aged 50+ who are retired or approaching retirement. We routinely work with clients to provide them with retirement planning, tax planning, and investment management services. We are a fee-only firm meaning we do not sell any products or receive any commissions; we are solely compensated by the fee we charge for our services. This structure

allows us to work as a fiduciary, at all times, for our clients. Disclosures:
The information posted on this social media page is intended to be educational. None of the information we post should be construed as investment advice, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, or other securities or non-securities offering. This information should not be relied upon as the sole factor in an investment making decision. All information is provided “AS IS” and without warranties of any kind either express or implied. To the fullest extent permissible pursuant to applicable laws, Next Adventure Financial disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability, non-infringement, and suitability for a particular purpose. Next Adventure Financial is a Registered Investment Adviser in the state of Indiana. Advisory services are only offered to clients or prospective clients where Next Adventure Financial is properly registered or exempt from registration. “Likes” should not be considered a positive reflection of the investment advisory services offered by Next Adventure Financial.

08/26/2026

Once your paycheck stops, your investments become part of your new paycheck.

But where that money comes from matters.

Suppose you need an additional $30,000 for spending this year:

• A traditional IRA withdrawal is generally taxable as ordinary income.
• A qualified Roth IRA withdrawal is generally tax-free.
• In a taxable investment account, only the gain on what you sell may be taxable.

Same $30,000 of spending. Very different potential impact on your tax return.

This is why I’m hesitant about fixed rules like “always spend taxable accounts first” or “never touch the Roth.”

Sometimes the answer might be to use more than one account. Depending on specific circumstances, someone may choose to combining cash or taxable investments with an intentional IRA withdrawal to fill a lower tax bracket. In another year, using Roth money might help avoid crossing an important Medicare or tax threshold.

The goal isn’t simply to pay the least tax this year. It’s to coordinate your income, taxes, future RMDs, Medicare premiums, and investments across retirement.

08/10/2026

Inheriting an IRA from a parent can create a surprisingly complicated tax decision.

For many adult children, the account typically must be fully withdrawn within 10 years. But that doesn’t necessarily mean taking 1/10th out each year, or waiting until year 10.

The timing of those withdrawals can affect:

• Your federal and state taxes
• Medicare premiums
• How much of your Social Security is taxable
• ACA health insurance subsidies before age 65
• Your ability to complete Roth conversions at favorable tax rates

And depending on when your parent passed away, annual Required Minimum Distributions may also apply during that 10-year window.

As an advisor, the bigger question I want to answer is:

**When should the income from the inherited IRA show up on your tax return?**

I put together a new article covering the inherited IRA rules, common mistakes, and several ways to think about withdrawals over the 10-year period:

https://nextadventurefinancial.com/blog/inheriting-an-ira-from-a-parent/

07/27/2026

Social Security is one of the most important income sources in retirement.

The recent Social Security trustees report projected that the retirement trust fund could be depleted in late 2032 (a few months sooner than expected).

That doesn’t mean Social Security benefits will stop, but it could mean benefits are reduced from current levels if Congress doesn't make changes before then. There are numerous things they could adjust to increase the viability of the fund.

For retirees and those getting close to retirement, this is not a reason to panic or make a rushed claiming decision. Social Security is still expected to provide income. But it is a good reminder that retirement plans should not rely on one source of income alone.

A few things worth considering as you plan:

• How much of your retirement spending will Social Security cover?
• Would your plan still work if future benefits were lower than expected?
• When should you claim Social Security based on your income needs, health, taxes, and spouse’s benefits?
• What other income sources can help support your lifestyle, such as investments, pensions, or part-time work?

Social Security claiming is not just about choosing an age. It should fit into your broader retirement income, tax, and investment plan.

03/04/2026

Health care is one of the most talked-about expenses in retirement.

Fidelity Investments released their annual health care cost estimate last summer and projects that the average 65 year old retiree will have ~$173,000 in health care expenses during their retirement.

Of course, these expenses don't need to be paid for with a lump-sum at retirement. Rather, they quickly add up over time from things like Medicare premiums, prescription drugs, and other out-of-pocket medical care.

If you're nearing retirement, you'll want to include these expenses within your annual retirement spending plan to make sure your income sources and investments can comfortably support them year after year.

Keep in mind, there are other factors that can increase your medical costs over time:

• Retiring before Medicare at age 65
• Higher income that triggers Medicare IRMAA surcharges
• Chronic health conditions or higher prescription costs
• The potential need for long-term care later in life

Long-term care is a big unknown for most. Medicare generally doesn’t cover extended care needs, and services like in-home care, assisted living, or nursing facilities can be very expensive.

That’s why it’s super important to think about how these things fit into your overall retirement plan, not just your medical premiums. These are all things that can be planned for both before & during retirement.

02/04/2026

Did you know your tax documents and tax return can tell you a lot more than just what you owe or what you’re getting back.

They often provide a useful snapshot of how different income sources are working together and where small issues can quietly show up over time.

Here are 4 things to look for during tax season:

1️⃣ Where Did Your Income Come From?

Different income sources interact differently with taxes, Medicare premiums, and future required withdrawals. Understanding this helps shape which accounts should be used more (or less) going forward to strategically manage your tax bill.

2️⃣ Did Investment Accounts Generate More Taxes Than Expected?

This helps us determine whether you have investments that are being held in the wrong types of accounts. If we see high levels of interest, dividends, and gains, there may be better accounts to put your investments so you don't overpay in taxes.

3️⃣ Were Retirement Withdrawals Reported Correctly?

Small errors have the potential to create unnecessary taxes or letters from the IRS. It's best to address these things as early as possible.

4️⃣ Did Your Taxes Change Meaningfully From Last Year?

Understanding what caused a significant change can help avoid unintentionally repeating it. This also gives us an opportunity to plan around it in future years.

-----------

Use tax season as an opportunity to refresh your retirement & tax plan. Once taxes are filed, most people close the folder and move on but this is a great time to spot trends, look ahead, and plan for new opportunities to lower taxes and improve the retirement plan.

12/04/2025

Here's our regular end-of-year tax cheat sheet!

There are a number of things below that could help lower your tax bill, depending on your situation.

Note that most of these things need to be done before 12/31 to count for 2025.

Year-End Contributions:

✅ 529s - check if your state offers any deductions or tax credits. Indiana offers a valuable tax credit for residents.

✅ Charitable giving - make sure your donations are received or postmarked by 12/31 (donations must be received by 12/31 if sent through UPS/FedEx/or similar). To deduct contributions, you need to exceed your Standard Deduction ($15,750 single, $31,500 married, filing joint).

Investing:

✅ Tax-Loss Harvesting - you can sell investments with a loss and use the losses as a deduction against your other income (limited to $3,000 per year). You can also use your losses to offset other gains you've recognized during the year. Watch out for the "wash sale rule" which prevents you from taking a deduction if you sell an investment at a loss and immediately repurchase it (or a similar investment) - Cryptocurrency does NOT follow the wash sale rule at this time; great opportunity!

✅ Tax-Gain Harvesting - if your taxable income is low enough, you may qualify for a 0% capital gains tax rate. Don't waste this opportunity! This can be done by selling investments at a gain for which you've held them more than a year and immediately repurchasing them (be aware of your taxable income with/without the gains).

Tax Withholdings:

✅ Make sure you've withheld enough for the year. For most taxpayers, this means withholding AT LEAST 90% of your current year tax liability or 100% of last year's tax liability (110% for those who had income exceeding $150,000 last year).

✅ If you haven't withheld/paid enough, talk to a tax pro to figure out the best option to correct it.

Retirement:

✅ For those who are subject to Required Minimum Distributions, make sure you take your RMD by December 31st (or April 1st if this is your first year RMD).
_______

Send us a message if you have any questions!

10/16/2025

It's officially Medicare Open Enrollment season.

Even if you’re happy with your current plan, it’s worth taking a few minutes to review:

✅ Costs change. Premiums, deductibles, and prescription drug prices are all updated annually.
✅ Coverage changes. Doctors, hospitals, or medications that were covered this year may not be next year.
✅ Needs change. Health conditions, prescriptions, or travel plans can all affect which plan is best suited for you.

During this open enrollment period, you can:

- Switch between Original Medicare and Medicare Advantage
- Change your Part D prescription drug plan
- Review your Medigap (Supplemental) coverage options
- Any updates you make will take effect January 1, 2026.

If you’re unsure which path makes sense, start by reviewing your current coverage and prescription list. The flowchart below can help you think through the key decisions before making changes.

09/17/2025

Thinking about retiring before Social Security kicks in?

Retiring before Social Security means you're likely going to be solely relying on your investments during this time.

That's not a bad thing though.

With the right plan, these years can be one of the most valuable times from a tax perspective.

Here’s why:

🪣 You have full control over where your income comes from.

Withdrawing from different tax buckets (taxable, IRA, and Roth) in a smart way lets you manage your tax bracket year by year.

🔥 It may be the perfect time for Roth conversions.

With no paycheck and no Social Security yet, your taxable income may be lower, which opens the door for conversions at lower rates.

💸 You may be able to take advantage of health insurance subsidies.

If you’re under 65, managing income carefully can help you qualify for health insurance subsidies through the Healthcare Marketplace. These subsidies can substantially reduce premiums, depending on your income level.

Remember: Just because you’re not getting a paycheck or Social Security doesn’t mean you’re doing something wrong. This is why you've worked so hard to save over your career!

With the right plan, the period before starting Social Security can be one of the best tax planning windows.

09/16/2025

Have you ever thought about how your spending might change over a 30+ year retirement?

(It's typically not a flat line)

Research has shown that retirement spending usually shifts with our age & health. Over time, these spending changes create a curve, hence the name "Retirement Spending Smile."

It commonly looks like this:

👉 Go-Go Years (60s–early 70s): You’re active, healthy, and finally have time to enjoy life with travel, hobbies, grandkid adventures, etc. Spending tends to be high during this stage.

👉 Slow-Go Years (70s–early 80s): Life slows down a bit. You may stay closer to home, but still enjoy the occasional trip, restaurant outing, and plenty grandkid time. Spending dips slightly, not because you have to cut back, but because you simply do less.

👉 No-Go Years (80s+): Health becomes a bigger factor. You may have more ongoing medical expenses: medical care, home assistance, long-term care, etc. Spending can start to rise again because of this.

This is why we don’t plan for retirement using a flat budget. We keep things flexible so you can adapt to what you actually need & want in retirement.

Address

17 S 6th St
Lafayette, IN
47901

Website

http://www.nextadventurefinancial.com/

Alerts

Be the first to know and let us send you an email when Cody Lachner, CFP, EA - Next Adventure Financial posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Want your business to be the top-listed Finance Company in Lafayette?