FRANKLIN: RETIREMENT ESSENTIALS

September 4, 2015

Retirement essentials with award winning personal finance journalist and Social Security expert Mary Beth Franklin. Why you need a new balancing act for a secure retirement.

WEALTHTRACK Episode #1211; Originally Broadcast on September 04, 2015

Listen to the audio only version here:


Franklin-Book

Mary Beth Franklin’s new ebook about Social Security is available here:

pdf, $19.95

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MARY BETH FRANKLIN

  • Author,
  • Maximizing Your Social Security Retirement Benefits
Consuelo Mack

No question about it, even the “me generation” baby boomers have to face the facts.

They are becoming senior citizens!

That transition is bringing another major reality shift. Increasing numbers of boomers are moving from the accumulation phase of their savings to what’s known as the distribution phase. They have to spend what they have saved, earned and possibly inherited to fund their retirement.   

It’s a daunting challenge, especially in the midst of recent market turmoil when portfolio values are under pressure.

There are an estimated 76 million baby boomers in the U.S., born between 1946 and 1964 and now ranging between 69 and 51 years of age. They represent about 25% of the U.S. population and about 68% of them are still in the work force. And according to a Gallup poll many of them are reluctant to retire.

Nearly half of boomers still working say they don’t expect to retire until they are 66 or older. That compares to the average retirement age of 61 among current retirees.   

Plus, one in ten boomers predict they will never retire.  Concerns about money play a significant role in boomer’s plans to postpone retirement.   

No matter what your personal goals are this new phase requires new thinking and planning. There are few more qualified to advise us than Mary Beth Franklin, whom we are delighted to have as a WEALTHTRACK regular.

Franklin is now a Contributing Editor at InvestmentNews, a leading publication for financial advisors. She is a Certified Financial Planner, an award winning personal finance journalist who has been covering retirement issues for most of her career, and is a recognized expert on Social Security.  Her latest eBook is “Maximizing Your Social Security Retirement Benefits”.  If you are interested to purchase a copy, it is available here, or you can find a link to it on our website.

I started our conversation with a basic question. What is the first thing we need to do as we approach retirement?

We also have an EXTRA interview with Mary Beth Franklin available exclusively online.  If you have comments or questions, please connect with us via Facebook or Twitter. We are always pleased to hear from you.

Have a great weekend and make the week ahead a profitable and productive one.

Best Regards,

Consuelo

Mathews Asia

CONSULT A FINANCIAL PLANNER AT LEAST ONCE ABOUT YOUR PLANS

RETIREMENT ADVICE CREDENTIALS

No additional Bookshelf titles this week.

PERSONAL PENSION

  • Make an informed decision on claiming Social Security benefits
  • If married, maximize survivor benefit for spouse
  • Higher-earning spouse should wait as long as possible to collect
No stock mentions in this episode.
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Mary Beth Franklin from the WEALTHTRACK Archives

SOCIAL SECURITY BENEFITS

Award winning personal finance journalist Mary Beth Franklin has become a sought after expert on maximizing Social Security benefits. A certified financial planner and author of the eBook, “Maximizing Your Social Security Retirement Benefits”, she explains how she transitioned from personal finance generalist to Social Security guru.


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