Retirement planning questions and answers
In: Retirement Planning

Today I am doing another Question and Answer Show. I received a lot of good questions this past month including the following:

“I have been maxing out my 401k plan. However, I am able to save even more money. What other savings plans would you suggest?”

“I have a Social Security question for you. My husband turns 66 next year and I will be 62, and were advised to file and suspend his benefits at that time so his benefits will continue growing until age 70. But, by doing this, can I collect a spousal benefit on his record?”

“My daughter is deceased and I want to leave my IRA directly to my minor grandson. Unfortunately, I am getting all sorts of different information on this, even from lawyers and I am really concerned and confused as my grandson is only 9 years of age, and I do not want his father to gain control of this money as he is remarried now and not making good decisions. Currently, my estate is named as the beneficiary of my IRA. What can I do?”

“I have been retired for several years, and I am receiving a monthly pension from my employer. However, I just recently received a letter in the mail offering me an opportunity to exchange my monthly pension for an immediate lump sum. Should I accept this lump sum pension cash out?”

Tune into the podcast where I answer these questions and more. Also, if you have not yet received your free copy of the “Peace of Mind” checklist that we have put together let me know and I will email it to you or I can have a hard copy mailed to you if you prefer.