You're probably familiar with financial literacy, which entails having the skills, knowledge and behaviors to make decisions about money. But how's your longevity literacy? Not sure what we're talking about? In this episode Pam, Terry and Richard break down longevity literacy, and explain the impact, especially when it comes to your retirement readiness. Guest expert, Surya Kolluri, who is the head of the TIAA Institute joins the Friends Talk Money crew to uncover the importance behind longevity literacy and why he believes more Americans should focus on improving theirs.

• Life Expectancy Calculator
• From longevity literacy to longevity fitness | TIAA Institute

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Advice on lowering your debt load and credit card rates, plus pros and cons of filing bankruptcy. With Bruce McClary, Senior Vice President of Media Relations & Membership at the National Foundation for Credit Counseling.

• New Statistics about Seniors & Debt – An Ominous Retirement Picture from the Employee Benefit Research Institute
• Despite Federal Reserve Rate Hikes, 76% of Lower Credit Card APR Requests Were Granted in Past Year | LendingTree
• Mint, the Budgeting App, Is Going Away. Here Are Some Alternatives | The New York Times
• Debt in Retirement | Terry Savage
• How to Get a Handle on Debt in 2024 | Richard Eisenberg, www.nextavenue.org

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Retiring abroad can be appealing, with lower costs and great weather. But here are some things you also need to consider before making a move.

• When a Popular Retirement Destination Goes South | Richard Eisenberg, Next Avenue

The rules for RMDs have changed and you will want to know how much you must take out of your retirement plans and when. We explain it all on this episode of Friends Talk Money, including year-end advice.

• Calculating your RMD | Terry Savage
• Charity Contributions from IRA RMD | Terry Savage
• Financial Planning for Retirement | Pam Krueger, Wealthramp.com

Required Minimum Distributions: 

• Age 73: Must Take RMD before year-end from all plans except Roth
• Pay Ordinary Income Taxes (consider withholding)
• Based on Balance in All Accounts Year-end Previous Year
• Calculate online at IRA custodian
• Input age and last year-end account value, spouse age
• Withdraw from one or several accounts
• 40l(k) accounts require separate RMD

Social Security is clawing back $21 billion in mistaken overpayments — impacting retirees and the disabled. Terry Savage and Larry Kotlikoff have written a new book — Social Security Horror Stories — revealing the shocking abuse. Last weekend they were featured on CBS - Sixty Minutes speaking with Anderson Cooper about this issue. In this episode, Larry joins Terry, Pam and Richard to take a deeper dive into problem and what you should do to ensure you get what’s rightfully yours.

• Social Security Horror Stories: Protect Yourself from the System -- and Avoid Clawbacks | Amazon
• How Social Security's overpayment mistakes can become your responsibility | 60 Minutes
• https://socialsecurityhorrorstories.com 
• MaximizeMySocialSecurity.com  | Larry's simple online calculator

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