Retirement Answers

Deciding when to take your Social Security benefits is a common question for most retirees. This decision can cause stress because there is never a perfect answer.

If you knew how long you were going to live, it would make this really easy, but that just isn't reality. So, making the most educated decision based on your specific situation is all you can do.

In this episode of Retirement Answers, I cover the following:

• The basics of how your Social Security benefits are calculated
• 3 questions to ask yourself when deciding when to take Social Security
• And 6 things to consider when making this decision

It's not always as easy as saying, "I'm going to take my benefits as soon as I can because I want to get something out of Social Security". Yes, your health, family history, and current financial situation might indicate that you should take your benefits as soon as possible.

But for others, this could be a mistake. I hope this episode helps give you some insights into what you should think about before taking Social Security.

If you are enjoying Retirement Answers, please give a rating and review. Also, share the podcast with friend who might find it helpful.

Want help with your retirement plan?👇🏼
☎️ Book a call with me: https://calendly.com/jacobduke/intro
✉️ Email me: [email protected]

Submit your question here: [email protected]
YouTube: https://www.youtube.com/@retirementanswers

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The 2024 Social Security COLA has been announced! I am sharing the following:

• What the 2024 COLA is
• Who gets the COLA
• How does it compare to COLAs historically
• Why WHEN you begin receiving your Social Security benefits continues to impact you moving forward
• 2 reasons why your COLA won't be as high as you think

***Help me make the show better in 2024. Fill out this quick survey!

Want help with your retirement plan?👇🏼
☎️ Book a call with me: https://calendly.com/jacobduke/intro
✉️ Email me: [email protected]

Submit your question here: [email protected]
YouTube: https://www.youtube.com/@retirementanswers

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

Tax planning in retirement is a crucial piece in a successful retirement plan. We often think about Roth conversions and tax-loss harvesting as the primary ways to lower your tax bill in your retirement years.

But many forget about an opportunity right in front of them... Tax-gain harvesting!

This is when you can use the long-term capital gains tax rates to your advantage by intentionally realizing gains when your income is low. By doing this you can achieve a 0% capital gains rate on your investment gains!

Want help with your retirement plan?👇🏼
☎️ Book a call with me: https://calendly.com/jacobduke/intro
✉️ Email me: [email protected]

Submit your question here: [email protected]
YouTube: https://www.youtube.com/@retirementanswers

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

Do you have an old 401k from a previous employer? Or maybe even a few straggling out there?

I'm a fan of keeping things organized and simple, so rolling over those old 401ks into an IRA to consolidate your money could is typically a good idea. The hard part is knowing how to actually do the rollover correctly.

It can be scary because it is your life savings that you are trying to move from one account to another.

Well, in this episode, I guide you through the exact process to make sure you do your 401k rollover correctly. Also, I share the benefits of doing a rollover and different times it might not make sense to do a rollover.

Want help with your retirement plan?👇🏼
☎️ Book a call with me: https://calendly.com/jacobduke/intro
✉️ Email me: [email protected]

Submit your question here: [email protected]
YouTube: https://www.youtube.com/@retirementanswers

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity

Social Security is one of the pillars of retirement income. But it can be very confusing when you think about PIAs, FRAs, and spousal benefits.

In this episode, I break down everything you need to know about Social Security Spousal Benefits and how they work. A big misconception I often hear is that "You get 50% of your spouses benefits."

I share why this is a misunderstanding and how spousal benefits are truly calculated. Also, be sure to listen to the end if you are divorced. You could be entitled to spousal benefits if you meet certain criteria!

***Help me make the show better in 2024. Fill out this quick survey!

Want help with your retirement plan?👇🏼
☎️ Book a call with me: https://calendly.com/jacobduke/intro
✉️ Email me: [email protected]

Submit your question here: [email protected]
YouTube: https://www.youtube.com/@retirementanswers

#retirement #howmuchtoretire #retirementplanning #rothira #rothconversion #investing #401k #socialsecurity