Smart Money Questions

Weekly investing and financial planning wisdom seeking to provide answers to your financial questions with your host, Matt Hausman.

Changes To Retirement Planning

Posted by smartmoneyquestions in COLA, finances, Social Security, retirement, advisor

Recently, there was a COLA increase of 1.6% for Social Security benefits. Matt will give his thoughts on the long term benefit of having a COLA increase, even though the percentage may not seem impressive at first. We will also discuss why working past age 65 is not so uncommon anymore and the importance of mapping out a plan with how you would like to spend your time in retirement.

Show Notes and Additional Resources:

Working Past 65 Article: https://www.cnbc.com/2019/12/30/why-retiring-at-65-could-become-a-thing-of-the-past.html

Retiring Abroad Article: https://www.foxnews.com/real-estate/12-affordable-places-retire

 

2:57- Learn how the COLA increase has a better long term benefit than you think.

5:00- Collecting Social Security early and how the increased income threshold could affect you. 

7:03- The IRS changed the contribution limits to qualified retirement accounts. 

9:44- The SECURE was passed and significant changes were made that will affect retirement planning. 

11:28- The implementation of the 10 year rule so could create new tax obligations for those who are affected. 

14:54- Find out why working past 65 is becoming more common.

17:40- What does an ideal retirement look like according to this client?

20:40- Matt explains what questions need to be answered before retiring abroad. 

Empowering Women in Financial Planning

Matt will be speaking at an event on the topic of empowering women in financial planning and it got him thinking a lot about examples in his personal and professional life that tie into the topic. This episode will run through statistics you need to know and the most important investment items you need to have in order. 

Click here to see the full show notes. Keep reading →

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