The Key Ages in Retirement Planning

Your Financial Compass Radio Show with Bulman Wealth Group

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When it comes to retirement planning, timing is everything. Each milestone birthday can have significant implications for your financial future. Today we’ll lay out the importance of planning around key ages.

Each of these milestone birthdays could require extra attention. For example, turning 50 opens the door to catch-up contributions, allowing you to boost your retirement savings. As you enter your sixties, decisions about Social Security become paramount, with options to claim benefits as early as 62 or delay for increased payouts at 70.

But the conversation doesn't stop there. We’ll tackle the controversial topic of annuities. Despite the mixed reputation, annuities have seen record-breaking sales, and we’ll break down the factors contributing to this trend and discuss how annuities can play a role in a diversified retirement portfolio. Plus we’ll cover the less-discussed, yet crucial topic of Required Minimum Distributions (RMDs) starting at age 73. Understanding RMDs is vital to avoid unexpected tax burdens and to efficiently manage your retirement accounts.

Whether you're looking to bridge the gap to Medicare or maximize your retirement income, this episode will help you chart a course to a secure and fulfilling retirement.

Here’s some of what we discuss in this episode:

• What you need to know about catch-up contributions
• When to use a rollover IRA and the tax considerations you’ll need to make.
• How much do you need to retire?
• Strategies for Social Security and healthcare planning.
• Pros and cons of annuities and ways to utilize the product.

WAYS TO CONNECT:
Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg
Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.
If you have any questions about what we discussed or anything else in your financial plan, email us at [e-mail]. You can also reach the team by phone at [phone].