Many retirees with a pension have the option to take a lump sum payout instead of the monthly payout, but which option is better? In this episode of Joe Knows Retirement, Joe does the math and shares his expert opinion on which option he typically advises clients to go with. He breaks down the pros and cons of each option, and shares retirement planning guidance you'll want to keep in mind regardless of which option you take.

Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meeting/ 

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The One Big Beautiful Bill introduced a bonus deduction for those 65 and older that might change the way you do your tax planning. In this episode of Joe Knows Retirement, Joe breaks down the changes that have come with the new bonus deduction, and talks about how you can plan for these changes depending on your financial situation, especially if you have a pension and $1 million or more saved.

Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meeting/ 

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As one of the five pillars of retirement planning, income planning is an essential part of any retirement plan, yet many retirees---especially those with a pension and at least $1 million saved---make some very common mistakes when doing it that end up costing them. In this episode of Joe Knows Retirement, Joe shares six common income planning mistakes Midwestern Millionaires make and explains what they can do to better set themselves up for success in retirement.

Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meeting/ 

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If you have a pension and $1 million or more saved, you want to get the most out of the retirement you've worked so hard for. That's why in this episode of Joe Knows Retirement, Joe shares five things you can do to set yourself up for success in retirement. From tax planning to purpose planning, Joe dives into it in this episode.

Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meeting/ 

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Medicare premiums can be a sneaky cost for many retirees, especially those with a pension and $1 million or more saved. That's why in this episode of Joe Knows Retirement, Joe shares how you can potentially save $10,000 in Medicare premiums by being tax-smart and doing proper planning. He shares Roth conversion strategies for different financial situations, and also talks about when it might be most advantageous to not Roth convert.

Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meeting/ 

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It's common to hear that you'll be in a lower tax bracket in retirement, but that likely won't be the case if you're part of the 2% Club, which means you're retiring with a pension and $1 million or more saved. In this episode of Joe Knows Retirement, Joe shares why members of the 2% Club should expect to be in a higher tax bracket in retirement, as well as offers strategies they can use to increase their tax savings.

Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meeting/ 

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The 4% Rule and Guardrails income strategy are helpful tools for many retirees when it comes to income planning in retirement, but as Joe explains in this episode of Joe Knows Retirement, if you have a pension and $1 million or more saved, they might not be adequate for your financial situation. Instead, Joe lays out tailored ways members of the 2% Club can build an income plan and give their money purpose in retirement.

Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meeting/ 

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Should you stay or should you go? In this episode of Joe Know's Retirement, Joe provides a comprehensive breakdown of the costs and tax rates across different states to help you decide if you should move in retirement. He looks at different considerations including estate planning and tax planning, shares a case study, and breaks down the five most and least popular states to retire to.

Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meeting/ 

🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv

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Have you ever been invited to a nice steak dinner where you were told that you need a life insurance retirement plan (LIRP)? In this episode of Joe Knows Retirement, Joe talks about why most Midwestern Millionaires (those with a pension and $1 million or more saved) don't need a LIRP, especially for tax-free income. He also shares reasons why it could make sense to get a LIRP like when not comes to tax-free legacy planning and tax-free benefits for long-term care.

Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meeting/ 

🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv

📚Get a FREE copy of Joe’s book “Midwestern Millionaire”: https://keap.page/bsd964/midwestern-millionaire-toolkit-youtube.html

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If you've thought about Roth converting all the way into the 32% bracket, you might want to think again. In this episode of Joe Knows Retirement, Joe talks about why Roth converting into the 32% bracket might not be a good idea, especially if you have a pension and $1 million or more saved. He shares different considerations that should go into your decision to Roth convert, as well as dives into the different Medicare premium tiers and discusses how they can affect your decision.

Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretirementplanning.com/schedule-a-meeting/ 

🎥 Subscribe to our YouTube channel: https://bit.ly/430T9Lv

📚Get a FREE copy of Joe’s book “Midwestern Millionaire”: https://keap.page/bsd964/midwestern-millionaire-toolkit-youtube.html

🟥 Read our latest article featured in Kiplinger:  https://www.kiplinger.com/retirement/will-you-pay-higher-taxes-in-retirement

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