Show Notes: Maximize Your Social Security: Discover why timing is crucial for claiming Social Security benefits and how delaying can significantly increase your monthly income (00:36). Avoid Costly Social Security Mistakes: Understand the different claiming options for single, married, divorced, and widowed individuals and the importance of professional advice (00:36). The Power of Delay: Learn how waiting until age 70 to claim Social Security can boost your monthly payments by over 30% compared to claiming at full retirement age (01:37). Coordinate Your Claim (If Married): Explore the strategic advantages of coordinating Social Security claims with your spouse to potentially maximize your combined benefits (02:49). Taxes and Social Security: Understand how Social Security benefits can be taxed and the importance of considering this in your overall retirement income plan (02:49). Control Your Retirement Taxes: Learn actionable strategies for tax-efficient retirement withdrawals, including the optimal order for accessing different account types (07:14). Know Your Retirement Number: Get insights into how to estimate your retirement spending needs and the value of trying to live on a retirement budget before you actually retire (09:48). Navigate Market Uncertainty: Understand the importance of diversification and a well-defined income strategy to maximize retirement income while minimizing risk in volatile markets (11:58, 13:47). Transitioning Smoothly into Retirement: Discover key steps to take in the five years leading up to retirement, including detailed financial reviews and planning for Social Security and Medicare (16:10). Take Action Now for a Secure Future: Learn the essential elements of a successful retirement plan, including optimizing Social Security, managing taxes and risk, and the value of seeking professional financial advice (20:25). Special Offer: Ready to take control of your retirement? Enroll in Mark Fried’s Retirement Masterclass to build your own customized financial roadmap. Visit WhenCanIRetire.us and use coupon code RRFR2024 for a special discount. Why Listen? If you’re nearing retirement or already retired, this episode offers actionable advice to help you protect your savings, manage taxes, and ensure your money lasts. Tune in now and start building the retirement plan you deserve! Connect with Mark: https://plansmartandretirewell.com/ LinkedIn: https://www.linkedin.com/in/mark-fried-a0b1156/

Ver todos los episodios