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 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.

What Is An “Elite IRA Advisor”?

IRA mistakes are expensive and often irreversible.

Imagine inheriting a large IRA and “rolling” it over into your own IRA only to find out that the IRS has a very specific protocol regarding inherited IRAs and that you got it ALL wrong.

Worse still, the financial advisor you worked with and got paid to help you, he got it wrong as well!

Oh and this mistake, it can’t be fixed.

Or how about these scenarios… 

How Much Money Could You Lose In The Next Market Crash?

Most market forecasters predict “increased volatility, but positive returns” for stocks in 2018. However, the truth is that no one knows when the next major market selloff will occur, how long it will last or how steep it will be.

If the last few weeks have reminded us of anything, it’s that markets can change suddenly and go down quickly.

During the crash of 2007/2008, markets saw gut wrenching declines of more than 50%. Since then the S&P, Dow Jones Industrial Average and other major markets have rallied into one of the longest running bull markets of all time. But this too shall end.

If the next major market decline were to happen tomorrow, how much money could you lose in the next market crash?

To find out, read on…