How Your Social Security Benefits Are Calculated

1st in a series

August 14th marks the 83rd Anniversary of Social Security. To mark the milestone I will be posting additional content throughout the month of August regarding social security benefits and how it effects your retirement plan.

To kick things off, check out this short video describing how your social security retirement benefits are calculated and why it may pay to wait.

 

 

 

How to Know If You Need a Will or Trust

Estate planning can provide for the proper distribution of your assets to your beneficiaries after you die. In some cases, a living will or trust may help, especially if you have children who are minors or assets like mutual funds, brokerage accounts or other non-retirement assets that don’t pass via beneficiary designations.

To learn more the role a will or trust plays in your estate plan, watch this short video.

 

 

Your Financial Bucket List for Summer

10 things to check off your financial to-do list before Labor Day

Grand Ole Creamery, Grand Avenue, St. Paul, MN

My kids’ last day of school was June 6th. The next day I was bugging them to create a summer bucket list of activities they wanted to do before Labor Day.

Not just fun stuff like going to the lake or hanging out at The Grand Ole Creamery. I also wanted them to actually get some things done, like clean out their rooms, thin out their herd of stuffed animals or gather up their old clothes so we can donate them to the Goodwill.

You know, important stuff.

“Summer is going to be over before you know it”, I told them.  “And there is not going to be enough time to get it all done if you wait until the last minute.”

“And I am not doing it for you!” I had to throw that last part in before they disappeared into the delightful abyss they call their bedrooms.

Now I am going to give you the same suggestion: make a financial bucket list for summer. And not just fun stuff like planning your dream vacation, but important stuff too. 

How Long Must Your Money Last In Retirement?

The Longevity Illustrator - a useful tool for estimating how long you may live

Photo by Alex Harvey 🤙🏻 on Unsplash

If you can tell me when you are going to die, I can answer a lot of questions for you.

Questions like whether or not you should take the pension or lump-sum option on your retirement plan. Or when to start Social Security. Or how long your money needs to last in retirement.

Of course, no one knows how long they will live or when they will die.

Nevertheless, my job as a financial planner is make sure my retired clients never run out of money during their lifetime, no matter how long that may be.

Ed Slott Live on PBS

How to take your IRA from "forever taxed to never taxed"

Last week I wrote about what it means to be an Ed Slott trained IRA advisor. Since then, I have learned that Ed Slott’s program “Retire Safe and Secure” will air on our local, Twin Cities Public Television stations this weekend!

If you want to learn how to avoid the most common tax mistakes people make with their retirement accounts, or why a Roth IRA is so important, or how to take your IRA from “forever taxed to never taxed” you will want to watch or record Ed’s show this weekend.

Ed Slott has been a huge supporter of Public Television for many years and is one of PBS’ all-time largest fundraisers. His programs have raised over $50 million in donations supporting PBS stations across the country. This weekend you can watch him on your local station.

Times and dates are listed below. Check with Twin Cities PBS for more information or click here.

  •  Retire Safe & Secure with Ed Slott | Friday, Jun 8 at 6pm TPT LIFE
  •  Retire Safe & Secure with Ed Slott | Saturday, Jun 9 at 11:30am TPT 2
  •  Retire Safe & Secure with Ed Slott | Saturday, Jun 9 at 9:30pm TPT LIFE
  •  Retire Safe & Secure with Ed Slott | Sunday, Jun 10 at 3am TPT LIFE
  •  Retire Safe & Secure with Ed Slott | Saturday, Jun 30 at 7pm TPT LIFE

Now this is must see TV.

Looking for an Ed Slott trained “Elite IRA Advisor”? Call me at 651.379.3935 or email me directly at mpbranch@focusfinancial.com

 

Ed Slott’s Elite IRA Advisor Group is solely an indication that the financial advisor has attended training provided by Ed Slott and Company.  Ed Slott is not affiliated with Royal Alliance Associates, Inc.