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Social security is a retirement income. Now you can withdraw your benefits within 12 months of starting it. This way you can apply later for a higher benefit when you are 70. This could be a strategic move to do if you think your life expectancy will be higher than previously thought. Or you can do this is you want the remaining spouse to receive full benefits.

For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

#moneytalks

In this episode of Money Talks, Dan Joss financial advisor and life planner discusses some various statistics concerning he current state of the economy. For example he goes over how people spent their stimulus check that was given during early covid. He also explains the current state of loans and why interest rates are at an all time low.

For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

#moneytalks Save early, save often. All retirement accounts in some sense are IRA's. Traditional IRA's can be funded with $6000 a year, or $7000 if you are over 50. Instead of waiting to put money in your IRA right before tax season, Dan Joss says you should start putting money in the account in early January. By doing this that money has 16 months to "work for you". There are many other IRA's that can help you save even up to 25% of your yearly income. So that $6000 could possible become $50,000 if that's 25% of your total income. For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

Financial planner Dan Joss says life insurance is an important thing as it helps your loved ones after you death. This money can be used to turn into income, pay off loans, pay off debt, or pay off a house. If you are going to purchase life insurance make sure you have a plan for how that money is to be used after your death.

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127

Before difficult times, Dan Joss advises that you make a plan or budget that has margin for change. You never know what the future holds, so make sure you can adapt. Maybe these means eating out less, but you should try to be intentional with the money you do spend.

#moneytalks For more info check out https://www.jossbrown.com/ or call (757) 903 - 2127 Dan Joss talks about gold in today's episode of Money Talks. Gold has recently gone up in value during these hard times, some say even more than 40%. Interestingly enough Dan thinks that gold is not an investment because it doesn't create value. It can be part of a portfolio however because it holds value.