Retiring Today

The coronavirus is now rattling our global markets. The Dow John Industrial Average plummeted over 1000 points or more than 4% in one day this past week as fiscal impact of the coronavirus is spreading. The losses mark the worst week for the Dow since the financial crash of 2008.

According to ABC News reporter Catherine Thorbecke, “The sharp fall comes as public head officials warn that Americans should prepare for community spread of coronavirus in the U.S. and as companies warn investors of supply chain issues related to the outbreak.”

The question on most pre-retirees and retirees minds are how could this impact their 401(k) and other retirement investments? In this episode of Retiring Today, we discuss the market volatility, is your nest egg safe, and what it could mean for your portfolio.

When planning for retirement, there's definitely a specific type of financial planning that needs to be done. When it comes to investing, accumulation investing and retirement investing are two completely different philosophies. In this episode of Retiring Today, we talk about the difference between your investing strategies during these different phases of life. 

Social Security is an important source of income for retirees in America. Nonetheless, the process of applying for and calculating benefits can be tricky and complex, based on such factors as past income and your age when you choose to elect benefits. In this episode of Retiring Today, we walk through the history of Social Security and the top point to think about when electing your benefits. 

Headlines

Pre-retirees often come to us with the same questions "What do I need to know before retirement?" or "What should I be doing before I retire?" Preparing to leave full time work and make the transition from saving to spending can be complex and have lot of moving pieces. In this episode of Retiring Today, we answer the top frequently asked questions by pre-retirees including "Do I have enough money to retire?" How do I know when to take Social Security?" and "Do I need a financial adviser in retirement?"

In a perfect world, retirement is easy. You make your plan, you give your two weeks notice, you celebrate your last day of work and then, before you know it, you are officially retired! The reality is that retirement is a third of your life, not a fleeting moment in time and as a major life phase, there is a lot of planning involved and it doesn't all happen at one time. In this episode of Retiring Today, we will walk you through a successful retirement timeline. 

Show Notes

With a longer lifespan and often less time building a nest egg, the stakes for women are higher in retirement, but these challenges don't have to sideline your planning. The ladies of Merkle Retirement Planning are taking over the mics in this episode of Retiring Today. We discuss the SECURE Act, what women need to consider when it comes to investments, health care, and how to plan to carry out legacy decisions. 

The beginning of a New Year is often the time the people make resolutions. Whether you are 10 years out from retirement or ready to take your 30 year vacation this year, you are not going to want to miss this episode. We will cover how to plan for inflation, what is means to diversify your accounts from a tax perspective, making sure your accounts have the right beneficiaries on them and so much more! Plus, we welcome Merkle Retirement Planning Investment Adviser and CPA, Chawn Honkomp, to the podcast. 

Headline 1: Charles Schwab Acquires TD Ameritrade in $26 Billion All-Stock deal

Headline 2: Pot Stocks try to rebound from terrible 2019: ‘This is 2008 for the cannabis industry’

Since 2006, the largest piece of legislative change in retirement rules took place last week and will go into effect January 1, 2020. The Setting Every Community Up for Retirement Enhancement or SECURE Act includes significant provisions aimed at increasing access to tax-advantaged accounts and preventing older Americans from outliving their assets. Lawmakers hope the new rules will do two things: encourage more business owners to offer retirement plans and encourage workers to save more for retirement. In this episode of Retiring Today, we about the increases in the RMD age from 70.5 to 72 for most people, small employers banding together to offer 401k plans, the elimination of the stretch IRA for most non-spousal beneficiaries and spousal rollover traps. 

For more information on The SECURE Act, visit MerklePlan.com.

What do you want to do when you retire? Do you want to travel the world? Do you want to live close to the grandkids? Do you finally want to get around those projects that have been pushed aside?

For many, retirement can be an exciting time to discover or expand a personal passion. As the daily grind of work and other responsibilities subside, retirees may have time to explore the activities, hobbies, or interest that can kindle a renewed sense of joy and commitment in their lives. But where is the best place to do these activities? In this episode of Retiring Today, we talk through what you should consider when choosing where to follow your passions in retirement, such as, cost of living, affordability of health care, and Loren's favorite, taxes. 

There's one thing you can count on when you're dealing with Medicare - by the time you figure out the system, it will change. Those changes are coming January 1, 2020. The major of these changes will primarily impact those who are new to the government health insurance program. But this does leave pre-retirees and retirees with the question - how will this impact my retirement? 

In this episode of Retiring Today, Director of Health Care from Merkle Retirement Planning, AnnaMarie Marrow, joins Loren, Molly and producer Richelle in the podcast to talk Part A and B premium changes, Medigap plans going away and explain the new Plan G.