Deciding when to take Social Security is one of the most critical financial decisions you’ll face as you approach retirement. Should you claim benefits as soon as you’re eligible at 65 or hold out for the Full Retirement Age of 67? In this episode, we’ll dive deep into the factors that can impact this choice, including health, financial needs, employment status, and long-term retirement goals.

We'll break down the key differences between taking Social Security at 65 versus 67:

• Claiming at 65: Provides immediate income, but with a permanent reduction in monthly benefits. We'll cover how the earnings limit might reduce your benefits further if you’re still working, and how this option could benefit those with immediate financial needs or health concerns.
• Waiting until 67: Offers full benefits with no reductions. Discover how this choice allows for higher lifetime payments, reduces the impact of taxes and earnings limits if you’re still working, and boosts inflation protection over the years with a higher base for future cost-of-living adjustments (COLA).

Join us as we explore these options and discuss essential considerations like longevity, current financial stability, and inflation, helping you make an informed choice that aligns with your unique retirement vision. Whether you're planning ahead or approaching retirement now, this episode will equip you with insights to make the best Social Security decision for your future.

In this episode, we dive into a common question: Is money in an IRA guaranteed? The short answer is no—but there are specific ways to structure an IRA that can provide some level of financial security. Join us as we explore the unique options within IRAs that offer built-in protections for your funds.

We'll cover three key products that can add stability to your retirement planning:

1. IRA Multi-Year Guaranteed Annuities (MYGAs): These provide a fixed interest rate for a set number of years, ensuring both your principal and interest are preserved as they grow over time.
2. IRA Fixed Index Annuities (FIAs): With these, your funds are protected from market downturns, with returns tied to an index like the S&P 500. This allows for potential growth while safeguarding against negative performance.
3. IRA Certificates of Deposit (CDs): These CDs offer fixed interest rates and are FDIC-insured up to certain limits, providing a secure, predictable way to grow your funds.

We’ll also break down why traditional IRAs invested in stocks, bonds, or mutual funds lack this level of protection, which means they’re subject to market ups and downs. Whether you're looking for growth with peace of mind or weighing riskier investment choices, this episode provides a clear look at options for securing your retirement funds.

Thinking about retiring at 65 but unsure if you have enough saved? In this episode, we break down a step-by-step guide to help you calculate the minimum amount needed to retire comfortably. From estimating 70% of your current household income to evaluating Social Security benefits, we dive deep into everything you need to know to see if your savings will be sufficient.

Here’s what we cover:

1. Calculate Your Income Needs: Learn why 70% of your current income is a solid benchmark for your retirement income target—and how to calculate it.
2. Social Security Benefits: We’ll discuss how to estimate your Social Security income at 65 and factor it into your retirement planning.
3. Using an Annuity Calculator: Discover how to use our annuity calculator to project income from savings and retirement accounts, helping you make your retirement savings last.
4. Combining Income Sources: We explain how to add up Social Security and annuity income to determine if your combined resources meet your 70% income target.
5. Comparison at Age 67: Should you delay retirement? We’ll walk through the same process for age 67, giving you the tools to weigh the benefits of working an extra two years.

Tune in to find out if you’re financially prepared to retire at 65 or if waiting until 67 might be your best move for a more secure future. Perfect for anyone aiming to retire comfortably without guesswork!

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Ever wondered if you could open a 403(b) retirement account on your own? In this episode, we break down the essentials of the 403(b) plan, a retirement savings option designed exclusively for employees of tax-exempt organizations, public schools, and ministers. We’ll explain why, if you’re not employed by an eligible organization, a 403(b) isn't available to you directly—and what options you do have instead.

Explore retirement savings alternatives like traditional and Roth IRAs, or even a solo 401(k) if you’re self-employed. Whether you're working for a tax-exempt employer or planning for retirement on your own, this episode has the insights you need to choose the right path for your financial future!

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Pensions are a valuable source of retirement income and, for many, represent a crucial part of their financial security. But how safe are they, really? In this episode, we explore whether pensions are as secure as they seem or if there’s a chance they could be lost, reduced, or altered under certain circumstances. From company bankruptcy to plan underfunding, we’ll break down the primary risks to pensions, discuss how protections like the Pension Benefit Guaranty Corporation (PBGC) work, and explain what factors can affect both public and private pension plans.

We'll cover the specific scenarios that could impact pension value, including corporate insolvency, government plan changes, early retirement choices, and even personal situations like divorce. Additionally, we’ll touch on rare but impactful cases of mismanagement and fraud. Tune in to learn how to protect your pension and understand the factors that could influence its future.

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In this episode, we’re diving into the often-discussed “5% rule” in retirement planning. This strategy suggests withdrawing 5% of your retirement savings annually, offering a potentially higher income upfront compared to the traditional 4% rule. But with that extra income comes a risk: running out of money too soon if your investments underperform or you outlive your expectations.

We’ll break down the pros and cons of the 5% rule, especially during market downturns, and explore a more stable alternative: the Guaranteed Lifetime Withdrawal Benefit (GLWB) through a fixed index annuity. A GLWB can provide you with a consistent, reliable income for life, often up to 8%—regardless of market performance—so you don’t have to worry about depleting your retirement funds.

Listen in to understand how a GLWB strategy works, why it might be more secure than the 5% rule, and how it could help safeguard your retirement. Plus, learn how to calculate your potential retirement income with a GLWB and secure a free consultation to discuss your best options. Don’t miss this essential guide to making informed, sustainable retirement income decisions!

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In this episode, we’re diving deep into the question: Can you truly retire comfortably on just a pension and Social Security? For many retirees, these income sources form the foundation of their financial future, but is it enough? We’ll explore what you need to know about relying on these income sources alone and the crucial factors that could impact your financial stability in retirement.

We start with a realistic breakdown of typical income in Georgia, where the average Social Security benefit is $1,907 per month, and the potential impact of a pension—such as an additional $3,500 monthly benefit. While this combined total of $5,407 might sound promising, we’ll look at the influence of taxes, inflation, and lifestyle choices on this number.

Tune in to understand:

• Tax Considerations: Georgia offers benefits like the $65,000 retirement income exclusion, but there’s more to know about how taxes can impact your retirement income.
• Inflation and Cost of Living: Social Security offers adjustments, but most pensions don’t—meaning rising costs could slowly chip away at your buying power.
• Assessing Your Income Needs: We’ll help you consider whether your monthly total will comfortably cover your expenses or if you might need additional income strategies.

Plus, we’ll discuss a powerful option for retirees looking to stretch their pensions further: rolling a pension into an IRA annuity with a Guaranteed Lifetime Withdrawal Benefit (GLWB). Discover how this option could provide:

• Increased monthly income over a traditional pension
• Flexibility to manage and pass on your assets
• Potential inflation protection with income that increases over time

Whether you're nearing retirement or already planning, this episode will provide insights to help you make the best decision for your financial future.

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In this episode, we break down the important age milestones and rules you need to know for penalty-free withdrawals from your 403(b) account. Generally, you’ll need to wait until age 59 ½ to avoid the IRS’s 10% early withdrawal penalty, but there are specific exceptions that can allow earlier access without penalty.

We’ll start by exploring the standard rule and then dive into the “Rule of 55,” which allows penalty-free withdrawals if you leave your job in or after the year you turn 55. We’ll also cover several other exceptions, like withdrawals for disability, certain medical expenses, and Qualified Domestic Relations Orders (QDROs). Plus, we’ll discuss the option of Substantially Equal Periodic Payments (SEPP) for those seeking a structured withdrawal method before age 59 ½.

Remember, while you may be able to avoid penalties, income taxes still apply to 403(b) withdrawals. Join us as we clarify these guidelines to help you make informed choices about your retirement funds.

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