In this episode, we explore five sources of tax-free retirement income. Understanding these sources can be crucial for minimizing your tax burden during retirement.  In this episode, we'll break down each source, explain its benefits, and guide you on how to potentially incorporate it into your retirement planning.  Whether you're nearing retirement or just starting to plan, this information is essential for a secure financial future. 

In this episode, we explore the complexities of earning an income and receiving social security benefits. Key points covered in this episode: -Case Study: A real-life scenario where a prospect's social security payments were abruptly stopped, leading to confusion and concern. -Understanding Social Security: An in-depth look at the intricacies of claiming social security benefits while working a part-time or full-time job. -Earnings Thresholds: Discussion on the various income thresholds and the penalties that apply when you exceed them. -Q&A Segment: Answers to commonly asked questions about retirement planning, including the impact of a working spouse on your social security benefits, and whether or not you need to report your income to the Social Security Administration. *Free Retirement Assessment* // https://foundryfinancial.org/get-started *Private Facebook Group* // http://facebook.com/groups/retirementforum

In this episode of "Retirement Made Simple," we delve into the fascinating world of guaranteed income and its profound impact on retirement spending. We explore why many retirees, despite having sufficient funds, often underspend in their golden years. We discuss the findings of the Health and Retirement Study (HRS) and how it reveals that households with more wealth in guaranteed income spend significantly more each year than those with more wealth in investments. We also touch on the concept of annuitization and its potential to increase retirement spending. Furthermore, we examine the role of annuities in retirement spending and how shifting non-annuitized wealth into an annuity can lead to increased spending. We also discuss the way annuities are often obsessed to enrich sales people.

In this episode of Retirement Made Simple, host Kevin Lum, CFP® discusses the critical decision of when to claim Social Security benefits: at age 62 or 70. Should you take Social security right away or delay. Tune in as we dive deep into the factors that can impact your financial future, including understanding Social Security benefits, the pros and cons of claiming at different ages, and how to make the right decision for your retirement. Don't forget to subscribe! Resources: My Social Security: https://www.ssa.gov/myaccount/ Social Security Administration: https://www.ssa.gov/ Social Security Benefits Calculator: https://www.ssa.gov/benefits/calculators/

It seems nearly impossible to find a safe place to park your cash with decent returns. In this episode I'm going to walk through three places you can park extra cash that pay up to 1000% more money than your local bank.

The IRS recently disallowed a charitable donation, because the donor was missing just a few simple words. And it turns out a lot of donors are making the exact same mistake. In this video I'll walk through the mistake a widow made that cost her a $464,000 tax deduction because her tax paperwork lacked a few key words and tell you how to avoid the same mistake. We'll walk through the key things you need to know whether you're contributing $500 or $500,000.00.