This episode was recorded in 2019. RMD age is now 72. Don discusses what a Required Minimum Distribution from your IRA or other retirement accounts are and what the 2019 RMD rules are.
We explain the 457(b) Deferred Compensation Plan. If you are a state employee or government employee you probably have access to a 457 Deferred Comp plan. How does a 457 b plan work? What's the difference between a 457 and 401k? When can you take money out of your 457 plan? 457 deferred compensation plans are available to Police officers, Fire Fighters, Teachers, and all other government employees. Don Anders discusses all of that in this video. Would you like to review your 457 deferred comp pl...
The cost of our electronics and phones has increased drastically in recent years. So are iPhones good investments? Are any electronics good investments? Don goes over the economics of owning daily technology in this episode.
Don explains an important hack you can use with your spouse's social security depending on when they choose to take it out and how you can use it your benefit.
403b retirement plans explained. A 403b/TSA is also frequently called a Teacher 401k, but in addition to teachers and school board employees, Hospitals and other non-profit organizations can have a 403(b) retirement plan. We also get into the unique withdrawal rules of a 403b. Another name for a 403b is a TSA or Tax Sheltered Annuity. Would you like to review your 403b / TSA? Visit us online: https://andersretirement.com/...
Don discusses one of the most fundamental retirement planning concepts: The 3 legged stool of retirement planning. The three-legged stool consists of having your Social Security Plan, Pension Plan, and Investment Plan all working together to become a retirement plan that will last the rest of your life. This concept is key, whether you're retirement planning at 40, retirement planning at 50, retirement planning at 60, or simply just looking for tips on retirement planning for beginners. If you'd...
Don Anders discusses why you shouldn't pay off your house before retirement. Many people who give blanket retirement advice talk about the debt-free retirement myth, and while being debt-free is nice, sometimes it can be detrimental to your entire retirement plan. Especially if you plan to pay off the house with 401k or pension money!
What is a ROTH IRA and How does it work? Don Anders explains the benefits of ROTH IRA, ROTH 401k, ROTH 403b, or any other ROTH account you may have, and why it's so important to invest in a ROTH if you have the opportunity and it fits your financial needs.
Don Anders discusses the 4 Social Security changes to keep from running out of money. One of the biggest concerns we hear is "will social security run out of money" or "is social security going broke?" The simple answer is, yes and yes. There is a US Social Security Crisis, and changes to social security have to be made.
Do you know what the #1 biggest fear in retirement is? Running out of money. Don Anders discusses why if you're having that concern, you're not alone, and the steps that you can take to ensure you don't have to worry about running out of money. If you'd like your own retirement income analysis, visit our website: https://andersretirement.com/...
What is a Bond Fund? And do they keep your money as safe as you think? In this video, Don clears up some confusion about Bond Funds.
Companies sometimes offer an early retirement employee buyout, or a early retirement incentive buyout. The question is should you take a buyout? The answer lies in what is offered vs. what you're giving up. Our recommendation is to always look into the options, but make sure you understand the downfalls of retiring early. If you're offered a buyout and would like to discuss your options, you can schedule a complimentary phone call on our website: www.andersretirement.com...
If Donald Trump is reelected, he says that he will cut or eliminate payroll taxes permanently. By eliminating FICA Tax (Eliminating Medicare taxes and eliminating social security taxes), what will that mean for retirees now and in the future? How much taxes will you save now, and how will this social security tax cut impact you in the future? We give you tips on how to save now and in the future.
Don talks about the importance of making the money you've earned and saved last as long as you need it to.
What? Put everything on credit cards? This must be a typo! While we realize this strategy may not work for some people, but in this podcast, Don explains why being responsible with your money and paying attention to fees and due dates you can actually benefit from putting your expenses on credit cards. Need help selecting a card? Check out https://www.nerdwallet.com/ How your credit score works (and tips on how you can increase your credit score): https://youtu.be/ospt7uWAXMw Does Your Credit Sc...
Credit Scores are confusing! Do you even need one in the first place? What if you don't want to go into debt? What if you haven't ever borrowed money? Where do you start? Don digs into why Credit Scores are important, and how to get started the right way to building it up.
We all know about traditional banks. You know, the one where you might get a sticker for your kid or a treat for your dog when you roll through the drive thru window. But with technology changing, many people's banking needs have changed as well. This week Don talks about when to consider if online banking is right for you.
When the Stock Market takes a dip or a dive the news media tends to take it to the extreme. But for those of you in it for the long haul, Don explains how Dollar Cost Averaging works, and how you can use that next downturn to your advantage!
Income: it's the last in The 5 Needs of Money, but it's one of the most important! In this video Don talks about the importance of making the money you've earned and saved last as long as you need it to.
This is a big need! Growing your money! But how and when? And how much risk is or should be involved? Don helps break down the tradeoffs when talking about Growth as one of The 5 Needs of Money.
So YOU want to be a Millionaire??? Fear Not! Don breaks down the math on how anyone, at any age, can achieve this goal using the biggest tool: compound interest. We know your situation is unique, please remember that this a general outline for people to follow.
It's called Liquidity. That's the term used by financial professionals and financial institutions when talking about how easy it is to access funds. It's also one of The 5 Needs of Money, and in this video Don breaks down why it's important.
Don continues to break down The 5 Needs of Money, this time covering the all-important topic of the Death Benefit.
Don delves deeper into The 5 Needs of Money with the chief concern of a lot of people: Safety. How safe are your investments? Do you know what you are trading off to make them safer? What are your options?
When the market takes a downturn, and it will eventually, do you know how much of your investments are at risk? The number may surprise you!
Don talks about what an ETF (Exchange-traded fund) is and how it could potentially be a part of your financial portfolio.
Don breaks down the difference between Advice and Information while encouraging you to find the answers that fit your unique situation.
Don gets into what the 5 needs of money are, and an exercise you can do to help you make financial and investment decisions.
"As a financial fiduciary, I legally have to put my clients' best interest before mine and I have to prove to my compliance department that I'm doing so."
