Social Security & Pension Plans

Wealth Strategy with Bryan Rigg

I want to talk about the segments we're covering today, but first we're going to lead off with pros and cons of credit cards, the goods and the bads. There are some good things about credit cards. They are good to have. You just don't need too many.

We're also going to talk about the misconceptions of social security. No matter where you are, it's good to know, because you're saving money through work, and then as you get older you're able to use that. It's something everybody participates in when they're working.

We've got the misconceptions of social security. We've also got are there pension plans out there? Is it like a unicorn where there are a herd of them, but you've never really seen one?

We're going to talk about existing pension plans, where are they. If they exist, where are they, and what do you need to plan for in eventualities.

Finally, we're going to close out today with private school and education savings for college. Some of this will pertain to most of you, we hope, and we think you'll find it interesting.

DISCLOSURE:

RIGG Wealth Management offers securities to Broker Dealer Financial Services, Member SIPC and advisory services through Investment Advisors Corp and SCC registered investment advisor. RIGG Wealth Management is not a subsidy area of Broker Dealer Financial Services. Neither RIGG Wealth Management nor Broker Dealer Financial Services offer legal advice. Client should consult their attorney of choice on all legal matters.

Opinions expressed on this program do not necessarily reflect those of Broker Dealer Financial Services. The topics discussed and opinions given are not intended to address the specific needs of any listener. Diversification does not guarantee a profit or protect against a loss in a declining market. It is a method used to help manage investment risk. Examples mentioned are for illustrative purposes only, individual results may vary. Past performance is no guarantee of future results. Investing involves risk including loss of principle. Rebalancing can entail transaction costs and tax consequences that should be considered when determining a rebalancing strategy.

“A 529 plan is a college savings plan that allows individuals to save for college on a tax-advantaged basis. Every state offers at least one 529 plan. Before buying a 529 plan, you should inquire about the particular plan and its fees and expenses. You should also consider that certain states offer tax benefits and fee savings to in-state residents. Whether a state tax deduction and/or application fee savings are available depends on your state of residence. For tax advice, consult your tax professional. Non-qualifying distribution earnings are taxable and subject to a 10% tax penalty. Not associated with or endorsed by the Social Security Administration or any other government agency.”