Strategic SS Planning & Tax Efficiency in Retirement (4/13/2024)

The Real Money Pros

This past weekend, we welcomed fellow advisors and radio show hosts from Piershale Financial Group, based in Illinois. We began with advice on Social Security planning, discussing optimal benefit ages based on pension income, IRAs, and Roth conversions. We cautioned against over-reliance on pre-tax retirement accounts, advocating for diversification with Roth IRAs and taxable investments. Tax considerations were highlighted, focusing on managing brackets through strategies like Roth conversions.

In the second hour, the team delved into the importance of strategic planning for Social Security benefits. They covered optimal claiming ages, spousal benefits, survivor benefits, and the benefits of delaying until age 70 for growth. Additionally, they touched on tax efficiency in retirement, emphasizing Roth conversions, bracket management, and the impact of required minimum distributions. The conversation centered on Social Security benefits, discussing eligibility, taxation, and maximizing strategies, along with understanding the tax implications of retirement income sources such as pensions and investments.

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https://www.therealmoneypros.com

Guests:

Michael (Mike) Piershale, ChFC® , RFC®

Matt Nadeau, CFA, RFC®

Hosts:

Brian Wiley, Financial Advisor

Jeremiah Bates, Financial Advisor

Alex Lundgren, RSSA®, AIF®, Financial Advisor

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SPONSORS:

Guild Mortgage:

https://guildmortgage.com

Ataraxis PEO

https://ataraxispeo.com/offer

Tree City Advisors of Apollon:

https://www.treecityadvisors.com

Apollon Wealth Management:

https://apollonwealthmanagement.com/

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