Selecting the Right DROP Option for your financial goals
Episode description
On this week’s episode of The Secure Retirement Podcast, we continue our special series focused on the specific concerns of members of the Florida Retirement System.
“Some people say they have the ability financially to retire, but they don't have the ability mentally to retire. And I call that part of the mindset,” says John. “When it comes to the subject of drop, it's not just about money. It's the mindset, what will you do with the money? Do you need the income right away? Do you defer it? Do you take the money and pay tax on it? Pay off the mortgage?”
John uses the wisdom gained through 45 years of experience in retirement planning to decode the options available within the Florida Retirement System, educating others so they can retire with a sense of financial security.
We chat about the retirement frame of mind, as well as:
- To DROP or not to DROP
- Choosing one of the four DROP options
- Researching the right option for your goals
- Understanding DROP and where to go if you have questions
- Lawfully reducing income taxes
- And more