Easy Money Podcast with Don Anders

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 plan? Visit our website to learn more: https://andersretirement.com/

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 like to learn more or talk with someone that can give you a retirement plan based on the 3-Legged Stool concept, click here: https://andersretirement.com/

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/