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Today’s retirees are in uncharted territory. Social Security was designed when people retired at 65 and didn’t live much longer. Now many Americans stop working at 62 and may live into their 80s or 90s, which means a 30+ year retirement isn’t unusual anymore. That gap has huge implications for how you save, spend, and draw Social Security.
If you would like help envisioning what that kind of retirement actually looks like and how to fund it — feel free to reach out.
Chapters
00:03 Introduction to retirement tax time bomb problem
00:15 Social Security benefits become taxable in retirement
00:29 Traditional IRA and 401K withdrawals can trigger additional taxes
00:46 Income thresholds for Social Security taxation explained
01:12 Roth IRA strategy to avoid the tax time bomb
01:24 Contact financial advisor for comprehensive tax planning
This video explains:
-Why Social Security wasn’t built for today’s longevity
-How retiring at 62 affects your long-term income
-Why you have to plan for decades, not years
-How an adviser can help you see the whole picture
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