There isn’t a one-size-fits-all retirement plan, so knowing when you have saved enough to retire comfortably can be tricky. Recent studies show most older workers are falling far short of the money they need to retire and maintain their current lifestyle. Financial experts Joe Anderson and Alan Clopine help you determine if you are on track to retire with a pre-retirement review.
Download the Retirement Readiness Guide here.
(1:05) – Retirement Shortfall
(4:25) – Pre-Retirement Review
(5:20) – Determining Your Retirement Readiness
(8:25) – Test the Feasibility of Your Desired Retirement Spending
(9:47) – True or False? You need to be over 59½ to convert your IRA to a Roth IRA to avoid penalties.
(11:30) – Countdown to Retirement: How will the proposed tax reform affect me?
(13:00) – Tips to Boost Savings
(14:20) – Maximum Annual Savings Amounts of Different Types of Retirement Accounts
(15:00) – The Tax Triangle
(16:40) – Roth Conversions are Available to All Taxpayers with IRAs
(18:35) – True or False? Social Security benefits are subject to income taxes at certain income levels.
(19:35) – Understand Your Most Important Retirement Goals
(20:10) – Determine Your Action Items to Achieve Your Goals
(20:45) – Email Question #1: Most of the money I have saved for retirement is tied up in real estate. How can I access those funds without having to pay large capital gains taxes?
(21:52) – Email Question #2: I’m starting a business and I want to tap into my retirement accounts to fund the launch. Is there a way to access the money without incurring penalties?
(22:49) – Email Question #3: I want to move out of the country for my retirement. Can I limit the amount my Social Security benefits are taxed since some of my income will come from outside the United States?