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Retirement Planning Services
United States
Registrace 26. 04. 2022
At Retirement Planning Services, our mission is to bring Confidence and Rest to your financial life so that you can focus on the people, causes, and activities that bring you energy and life. We facilitate comprehensive financial planning through investment management, estate planning, tax planning, health care considerations, and other areas of your life.
Advisory services offered through Retirement Planning Services, LLC.
If you would like to learn more about who we are, or to engage our team to complete a financial plan, visit our website at seriousretirement.com/
All content was provided by Retirement Planning Services. The information in these recordings are intended for general educational and informational
purposes only, and should not be construed as investment advisory, financial planning,
legal, tax, or other professional advice based on your specific situation.
Please consult with your professional advisor(s) before taking any action based on its contents.
Advisory services offered through Retirement Planning Services, LLC.
If you would like to learn more about who we are, or to engage our team to complete a financial plan, visit our website at seriousretirement.com/
All content was provided by Retirement Planning Services. The information in these recordings are intended for general educational and informational
purposes only, and should not be construed as investment advisory, financial planning,
legal, tax, or other professional advice based on your specific situation.
Please consult with your professional advisor(s) before taking any action based on its contents.
Is it Possible to Fix Social Security? The Painful Truth
In our previous episode, we discussed the troubling state of Social Security, but today we dive into the possible solutions.
From increasing the payroll tax to adjusting the retirement age, we explore actionable steps to secure Social Security for the next 75 years and beyond.
Learn how these changes could impact you, your kids, or your grandkids, and what it might mean for the broader economy. Whether you're nearing retirement or just starting your career, this episode breaks down what needs to be done to keep Social Security solvent.
Links: www.crfb.org/socialsecurityreformer/
This content was provided by Retirement Planning Services. We are located in Knoxville, TN. You can learn more about us, or schedule an insight call by visiting our website at www.seriousretirement.com.
Timestamps:
0:00 - Intro to "Is it Possible to Fix Social Security? The Painful Truth"
1:03 - Lever 1 - Do Nothing
3:58 - Lever 2 - The Single Solution
8:36 - Lever 3 - Multi-Pronged Solution
14:35 - Spread the Load
16:27 - Current Wage Earners
18:10 - Tax the Wealthy
21:54 - Summary & Disclosures
Advisory services offered through Retirement Planning Services, LLC.
The information in this recording is intended for general educational and informational purposes only, and should not be construed as investment advisory, financial planning, legal, tax, or other professional advice based on your specific situation. Please consult with your professional advisor(s) before taking any action based on its contents.
From increasing the payroll tax to adjusting the retirement age, we explore actionable steps to secure Social Security for the next 75 years and beyond.
Learn how these changes could impact you, your kids, or your grandkids, and what it might mean for the broader economy. Whether you're nearing retirement or just starting your career, this episode breaks down what needs to be done to keep Social Security solvent.
Links: www.crfb.org/socialsecurityreformer/
This content was provided by Retirement Planning Services. We are located in Knoxville, TN. You can learn more about us, or schedule an insight call by visiting our website at www.seriousretirement.com.
Timestamps:
0:00 - Intro to "Is it Possible to Fix Social Security? The Painful Truth"
1:03 - Lever 1 - Do Nothing
3:58 - Lever 2 - The Single Solution
8:36 - Lever 3 - Multi-Pronged Solution
14:35 - Spread the Load
16:27 - Current Wage Earners
18:10 - Tax the Wealthy
21:54 - Summary & Disclosures
Advisory services offered through Retirement Planning Services, LLC.
The information in this recording is intended for general educational and informational purposes only, and should not be construed as investment advisory, financial planning, legal, tax, or other professional advice based on your specific situation. Please consult with your professional advisor(s) before taking any action based on its contents.
zhlédnutí: 38
Video
Will Social Security Run Out? Myths, Trust Fund Issues, and the Future
zhlédnutí 42Před dnem
In this episode, we debunk two common myths about Social Security reform and examine the mechanics of the Social Security Trust Fund. We break down the current challenges, including why Social Security is running a deficit and what that means for your retirement. If you’re concerned about the future of your benefits, this video is a must-watch. Stay tuned for our next episode where we explore p...
Maximizing Social Security Benefits for Couples in 2024
zhlédnutí 57Před 14 dny
In this video, we dive into one of the most common questions couples face near retirement: When and how should you claim Social Security benefits? In this video we’ll explore the complexities of claiming strategies, the impact of life expectancy, and the importance of coordinating benefits between spouses. Whether you're planning for early retirement or considering long-term financial security,...
How to Get the Most Out of Your Social Security Benefits - Single Filers
zhlédnutí 44Před 21 dnem
In this episode, we explore the critical decisions involved in claiming Social Security benefits as an individual. We'll discuss the essential elements that determine your benefits, how to calculate them, and the key assumptions to consider for a solid financial plan. Whether you're deciding when to retire or how to maximize your income, this video offers valuable insights to help you make info...
How Long Will You Live? Retirement and Longevity
zhlédnutí 39Před měsícem
Are you concerned about running out of money in retirement before dying? You're not alone. In this video, we explore the complexities of financial planning with a focus on life expectancy. Join us as we discuss statistical methods to project longevity and practical strategies to ensure your financial plan accommodates a longer life. We'll cover real-life examples and provide useful resources, i...
How to Protect Yourself from Fraud and Scams
zhlédnutí 47Před měsícem
In today's world, scams and frauds are increasingly prevalent, affecting millions of people each year. Join us as we dive deep into the most common scams, including phishing, smishing, impersonation, and romance scams. Learn how to protect yourself and your loved ones from these threats with practical tips and real-life examples. Don't forget to check the resources below if you suspect you're a...
July 2024 Market Update: Insights on Stocks, Bonds, and Economic Trends
zhlédnutí 55Před měsícem
Join us for the July 2024 State of the Market update, where we review the latest performance of capital markets over the past three to six months. We'll cover key economic updates, analyze the relative performance of smaller companies over the past decades, and share recent research insights. Highlights include: • US stock market Q2 review • International stock trends • Emerging markets vs deve...
The Hidden Dangers of Cryptocurrency
zhlédnutí 55Před měsícem
Join us as we dive head first into the untamed world of cryptocurrency. From volatile transaction fees to the risks of Bitcoin ETFs and the exploitation of digital assets by global adversaries, this video sheds light on the murky side of crypto. We explore recent incidents, including hacks and scams, and discuss why caution is crucial in navigating this high-risk, high-reward financial frontier...
What You Should Know Before Buying REITs
zhlédnutí 71Před měsícem
In this video, we answer the common question: "Should I invest in a real estate investment trust (REIT)?" We'll explore whether REITs can help diversify your portfolio and improve returns. In this video we review the benefits, risks, and nuances of REIT investments. Learn how REITs compare to traditional stocks and bonds, their sensitivity to interest rates, and how they perform in different ma...
Is Gold a Good Investment in 2024? Pros and Cons Explained
zhlédnutí 80Před 2 měsíci
In this video, we dive into the popular topic of investing in gold. From the appeal of shiny gold bars and coins to the realities of their volatility and maintenance costs, we have it covered. We'll explore the historical significance of gold as a store of value, compare it with stocks and bonds, and discuss the practical aspects of buying and selling gold. Whether you're curious about diversif...
Inherited IRAs: What Do I Do Now?
zhlédnutí 80Před 2 měsíci
The loss of a loved one is never easy, and inheriting an IRA can add a layer of financial complexity during an already difficult time. Join us as review inherited IRAs, including key legislative changes, tax implications, and strategic planning tips. Whether you're a spousal or non-spousal beneficiary, our discussion will guide you through the essential steps and considerations. Be to consult w...
HELOC Explained: How Does a Home Equity Line of Credit Work?
zhlédnutí 44Před 2 měsíci
Got a significant short-term expense but not sure how to finance it? In this video, we explore Home Equity Lines of Credit (HELOCs) as a flexible solution for your financial needs. Join us as we break down what HELOCs are, how they work, the application process, and the potential benefits and risks. Whether you're considering home improvements, emergency expenses, or debt consolidation, this gu...
Marriage Goals: Why is it Important to have Healthy Conversations about Money? - Part 2
zhlédnutí 47Před 2 měsíci
In this video, we discuss recognizing signs of unhealthy financial dynamics in relationships and how to address them effectively. Join us as our guest discuss how to identify and confront issues such as hidden purchases, lack of financial transparency, and imbalanced financial roles. Learn practical tips for fostering open, constructive conversations about money with your partner to ensure a he...
Marriage Goals: Why is it Important to have Healthy Conversations about Money?
zhlédnutí 148Před 3 měsíci
In this episode we two thought leaders and counselors Adam York and Dana Vince to discuss the complexities of healthy financial conversations in marriage. We’ll discuss why money talks can be so challenging and learn practical strategies to foster open, loving, and productive discussions about finances with your spouse. Whether you’re married or are looking forward to marriage, this session off...
What is Modified Adjusted Gross Income? (MAGI) Explained
zhlédnutí 261Před 3 měsíci
Language can be tricky, and financial terms are no different! In this episode, we dive into the world of Modified Adjusted Gross Income (MAGI) and explore its various calculations. From Roth IRA contributions to Medicare surcharges and the Affordable Care Act premium tax credit, we'll help you understand how MAGI impacts various aspects of your finances. For Reference: www.fidelity.com/retireme...
Understanding Medicare: How IRMAA Affects Your Financial Planning
zhlédnutí 376Před 3 měsíci
Understanding Medicare: How IRMAA Affects Your Financial Planning
Maximizing Social Security Benefits: Navigating Taxation Strategies
zhlédnutí 235Před 3 měsíci
Maximizing Social Security Benefits: Navigating Taxation Strategies
Social Security Benefits: Should I Work Past Retirement Age?
zhlédnutí 96Před 4 měsíci
Social Security Benefits: Should I Work Past Retirement Age?
Can I Retire at 55? How Early Retirement May Affect Your Social Security Benefits
zhlédnutí 2,6KPřed 4 měsíci
Can I Retire at 55? How Early Retirement May Affect Your Social Security Benefits
Social Security Benefits: How Are They Calculated?
zhlédnutí 122Před 4 měsíci
Social Security Benefits: How Are They Calculated?
Q2 Market Update: Insights & Cautionary Notes
zhlédnutí 43Před 4 měsíci
Q2 Market Update: Insights & Cautionary Notes
The Truth About Owning Rental Properties: Pros, Cons, & Realities
zhlédnutí 400Před 4 měsíci
The Truth About Owning Rental Properties: Pros, Cons, & Realities
Exploring Savings Vehicles: Maximizing Retirement Savings as a Consultant
zhlédnutí 42Před 5 měsíci
Exploring Savings Vehicles: Maximizing Retirement Savings as a Consultant
Consulting Income in Retirement: The Pros, Cons, and What You Need to Know
zhlédnutí 78Před 5 měsíci
Consulting Income in Retirement: The Pros, Cons, and What You Need to Know
What Now? Tax Cuts and Jobs Act (TCJA) Expiration Explained
zhlédnutí 122Před 5 měsíci
What Now? Tax Cuts and Jobs Act (TCJA) Expiration Explained
Tax Deductions: What You NEED to Know About Itemizing
zhlédnutí 36Před 5 měsíci
Tax Deductions: What You NEED to Know About Itemizing
Maximizing Your Tax Benefits: Strategic Moves for Last Year's Return
zhlédnutí 60Před 6 měsíci
Maximizing Your Tax Benefits: Strategic Moves for Last Year's Return
Understanding Your Tax Return: Form 1040 Explained
zhlédnutí 46Před 6 měsíci
Understanding Your Tax Return: Form 1040 Explained
Understanding Annuities: Can You Guarantee Income in Retirement?
zhlédnutí 74Před 6 měsíci
Understanding Annuities: Can You Guarantee Income in Retirement?
Income Stream Tips: Can You Guarantee Income in Retirement?
zhlédnutí 161Před 6 měsíci
Income Stream Tips: Can You Guarantee Income in Retirement?
IRMAA Income Related Medicare Adjustment Amount.
One of the best reviews of SS claiming example with spousal benefit. Thank you.
You’re welcome. We’re glad it was helpful!
there was no bitcoin in 2007,2008 and in 2009 it wasnt worth anything. People started paying attention in 2010. You can also track online the total untouched btc.
This is the first video I've seen that talks about the "when" part of income. Can't say I completely understood, but the basic adjusted for inflation thing I got. I retired 22 years ago at 45. I assumed I'd get no or a very small SS benefit. I had low income in the Army and during college. But I was a software engineer by age 26 and was maxing out SS payments within a year. But still that gave me only 17-18 years of high income so a lot of zero years. By about age 55 I started getting mailed estimates from SS and I assume they were assuming I'd go back to earning and paying in. It wasn't until 60 that I started wondering if the estimate could be right. I'm planning to wait until 70 and my estimate is $3800/mo (today's dollars) since I'd never factored in SS at all. I never had a huge pile of money. My main security was knowing I could still earn as a software engineer. Kind of funny that I was lucky to have retired before the internet had much content. Financial planners would say I would have been insane to have retired. But that's been part of the fun. Figuring it out as I went. Moving to SE Asia next year. What a blast.
Thanks for sharing! It's interesting hearing personal stories.
Do you plan on retiring early? Or do you see yourself working to full retirement age? Let us know in the comments! Also, if you'd like to know more about how Social Security is calculated, check out this video: czcams.com/video/XFJTkIPt_po/video.html
Thanks for watching! Looking for other financial or retirement videos? Try "Exploring Savings Vehicles: Maximizing Retirement Savings as a Consultant" czcams.com/video/D05CUupx5ns/video.html
If you want to have rental properties, you need to have a few. They will offset eachother in the bad months.
I've rented homes for 20 years. I converted four rentals to Airbnbs and made a KILLING from 2017-2024. I switched back to long term rentals because of the Airbnbust and while I now generate 50% of the income I did previously. I was able to pay off these rentals in the good times because I was disciplined to do so. If you make smart decisions, and treat people kindly and you tolerate their lateness sometimes, it is still so worth it. TransUnion Smart Move is the best thing to happen to mom and pop landlords since rentals became a thing. Make the applicant pay the $43 and you get their rental history, eviction data if any, their charge offs, their entire credit history and more. It is easy to find the right renter when you do your homework which is a LOT easier in 2024 than it has ever been. One of my homes, I paid $143k in 2003. Guess what its worth now with a $90k ADU I built in 2018 in the back yard? $700,000. I'm generating $4000 a month reliably. I was doing $8000 a month on Airbnb when it was working but I pivoted because 100% of 0 is, well 0. I'm in a desirable area, your mileage may vary.
Thank you for making this video, it has answered so many questions I have.
Glad it was helpful!