Retirement Starts Today

A recent study by Vanguard reveals that the real value of financial advice lies in its emotional benefits and time savings rather than just investment returns. Clients report significantly reduced financial stress and more peace of mind. Surprisingly, many undervalue these emotional returns, often focusing solely on portfolio management. Additionally, the podcast answers a listener's query about Health Savings Accounts and their interaction with Medicare premiums, shedding light on reimbursement rules and eligible expenses.

Only 4% of retirees wait until 70 to claim Social Security, raising questions about the common delay advice. Derek Tharp’s research challenges traditional assumptions, emphasizing the risks of mortality and sequence-of-returns. The discussion highlights a need for a comprehensive financial strategy that incorporates various income sources. Additionally, the pros and cons of single premium immediate annuities (SPIAs) are explored, with insights on when they might be suitable. Overall, it's a call for personalized retirement planning over one-size-fits-all advice.

Dive into the complexities of Roth conversions under new tax laws with insights from Ed Slott, emphasizing the importance of maximizing low tax brackets. Discover how new income caps complicate these conversions and the impact of the senior bonus deduction. Explore the pros and cons of moving companies to semi-annual reporting, from cost reduction to concerns about transparency. Learn practical strategies for annual conversion scenarios and why sticking to core retirement practices is key, regardless of reporting frequency.

Should I collect Social Security early & invest the proceeds into the stock market? This is the age-old question I see on a nearly daily basis in retirement forums. An article from Morningstar - written by Christine Benz and features a conversation with Social Security expert Mary Beth Franklin - gives me the basis for sharing six obstacles for claiming instead of waiting.  Also, we share a listener question about whether retirees should stick with the traditional 60/40 stock-and-bond portfolio or branch out into alternatives like gold, REITs, or managed futures to help with risk management and withdrawal rate. Resource: Article by Christine Benz featuring Mary Beth Franklin on Morningstar: Does It Make Sense to File Early for Social Security and Invest in the Market?   Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Work with Benjamin: https://retirementstartstoday.com/start Follow Retirement Starts Today in:Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart  Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement  

Inflammatory headlines are "Clickbait", and I am not immune to falling for them. "Social Security recipients set to face an $18,000 benefit cut in just seven years" is the most recent culprit in my Google feed - with an image of a Social Security check with a wrecking ball smashing straight through it. The good news is the headline is pretty far from reality for most people, and I explain why. Listen in to understand who might actually be impacted, and why most people actually won't. Source: Article by Emily Peck on Axios: "Social Security recipients set to face an $18,000 benefit cut in just seven years"   Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Work with Benjamin: https://retirementstartstoday.com/start Follow Retirement Starts Today in:Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart  Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement  

Only 5% of retirees report living their dreams, while 19% face nightmares. Discover three critical lessons to secure your future: save more, prepare for the unexpected, and avoid winging it. Learn about the pro rata rule and its impact on Roth conversions—an often confusing topic for many. The discussion also addresses inflation risks and the importance of balancing spending with enjoyment in retirement. Get insight into effective planning and strategies to make the most of your golden years.

Super savers often struggle to spend their hard-earned money after years of saving. The discussion highlights an insightful exercise where listeners recall a memorable trip, itemize past expenses, and then triple that budget. This method encourages rethinking spending habits and discovering fulfilling ways to use resources in retirement. By transitioning from a saving mindset to a spending one, retirees can enhance their enjoyment and satisfaction in their golden years.

Discover the sneaky pitfalls of underestimating your life expectancy and how it can impact your retirement benefits. Explore why many retirees mistakenly claim Social Security early due to cognitive biases. Learn safe planning strategies for longer lives and practical steps to secure your income. Find out how to apply for Social Security and avoid common pitfalls, especially for widows claiming survivor benefits. Plus, insights on how spousal benefits interact to ensure you get the most out of your retirement.

We’re going inside the new tax rules for retirees.  From a brand-new $6,000 deduction for seniors to major changes in how charitable giving is handled, the One Big Beautiful Bill Act has reshaped key parts of the retirement tax landscape.  We’ll break down what’s changed, what’s just political spin, and what you can do right now to take advantage of these new rules.  After that, we answer a listener question: Have you ever wondered what the letters behind a Financial Advisor’s name mean? Resources: John Manganaro article from ThinkAdvisor: How the New $6,000 Tax Deduction for Seniors Really Works Article from Fidelity Charitable: One Big Beautiful Bill (OBBB): Impact on charitable giving   Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Work with Benjamin: https://retirementstartstoday.com/start Follow Retirement Starts Today in:Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart  Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement  

Nick Maggiulli’s latest article in Of Dollars & Data challenges one of the core ideas that drives personal finance blogs, podcasts, and even some of our own thinking — the belief that financial independence should be the ultimate goal. We explore the surprising downsides of chasing early retirement, the difference between financial independence and financial freedom, and why something called “Coast FIRE” might be the real goal worth aiming for. I also answer a listener question: What can retirees do to fight back against inflation? One listener asks how to protect their buying power as costs keep rising. We go over several practical, actionable ways to stretch your dollars and build an inflation-resistant retirement. Resource: Article by Nick Maggiulli in Of Dollars & Data: Why Financial Independence is Overrated Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Work with Benjamin: https://retirementstartstoday.com/start Follow Retirement Starts Today in:Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart  Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement