Retirement

IF YOU ARE ELIGIBLE TAKE ADVANTAGE OF 2 CURRENT SOCIAL SECURITY CLAIMING STRATEGIES

November 6, 2015

IF YOU ARE ELIGIBLE TAKE ADVANTAGE OF 2 CURRENT SOCIAL SECURITY CLAIMING STRATEGIES

TWO SOCIAL SECURITY STRATEGIES FOR MARRIED COUPLES ENDING

  • “File and suspend”: one spouse files for benefits but suspends collecting them until full retirement age
  • Filing a restricted claim for spousal benefits: collecting half of spouse’s benefits while waiting to collect full benefits in later years

WINDOW OF OPPORTUNITY

    • 62 or older by year-end
    • Retain right to collect spousal benefits starting at 66 = full retirement age
    • Spouse has to have claimed retirement benefits or requested to file & suspend benefits within 6 month window

Source: Mary Beth Franklin, Author
Maximizing Your Social Security Benefits

Watch the related WEALTHTRACK episode.

CONSIDER ANNUITIES AS A CORE PART OF YOUR RETIREMENT PLAN

September 25, 2015

CONSIDER ANNUITIES AS A CORE PART OF YOUR RETIREMENT PLAN

  • Social Security now only source of lifetime guarantee for most retirees
  • Annuities provide another source of income for life

Immediate Annuities

  • Pay fixed amount every year for life
  • Starts payments immediately

Deferred-Income Annuity

  • Set future payout date
  • Later the date, the higher the payout

Kim Lankford recommends going to www.immediateannuities.com to do some personal calculations.

Watch the related WEALTHTRACK episode.

CONSULT A FINANCIAL PLANNER AT LEAST ONCE ABOUT YOUR RETIREMENT PLANS

September 3, 2015

CONSULT A FINANCIAL PLANNER AT LEAST ONCE ABOUT YOUR PLANS

RETIREMENT ADVICE CREDENTIALS

Watch the related WEALTHTRACK episode.

CONTRIBUTE TO A YOUNG PERSON’S ROTH IRA

June 19, 2015

CONTRIBUTE TO A YOUNG PERSON’S ROTH IRA

Watch the related WEALTHTRACK episode.

TAKE SOME TIME TO UNDERSTAND THE MEDICARE OPTIONS FOR YOU OR YOUR LOVED ONES

April 24, 2015

TAKE SOME TIME TO UNDERSTAND THE MEDICARE OPTIONS FOR YOU OR YOUR LOVED ONES

ENROLL IN MEDICARE ON TIME

  • Approaching 65?
  • Prepare to enroll for Medicare Part A & B
  • Enrollment window is 3 months before 65th birthday until 3 months after 65th birthday

MEDICARE RESOURCES

Watch the related WEALTHTRACK episode.

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