Season 1

Generating Income After You Stop Working

Episode Notes

Special Guest: Steve Vernon, Research Scholar, Stanford Center on Longevity: Link

Guest speaker Steve Vernon suggests that pre-retirees worried about their financial security adopt two mindsets: One, that it’s okay to start spending the money you’ve saved for retirement, and two, you may need to change your retirement investing objective from maximizing savings to generatng income. He also recommends that people delay applying for Social Security benefits as long as possible, since annual benefits are 8% higher for every year you delay taking benefits after you reach your full retirement age up to age 70. Pam, Richard and Terry also remind people that, outside of when they start taking Social Security benefits, nearly every decision they make about their financial life during retirement, from taking on a part-time job to generate extra income to revising their investment strategy, is reversible.

Resources

 

  • Retirement Game-Changers: Strategies for a Healthy, Financially Secure, and Fulfilling Long Life, by Steve Vernon: Link
  • Create your personal my Social Security account to receive estimates of your monthly benefits based on your earnings history: Link

 

Next Avenue articles on retirement income planning

 

  • Social Security: Secrets, Myths and Misconceptions: Link
  • How to Turn Your passions into Retirement Income: Link

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Season 10
A Conversation With The Man Who Invented Your 401(K)

Show Episode Notes

Our next special guest has undeniably made the most significant impact on your retirement savings strategy. In this episode, the Friends Talk Money team sits down with Ted Benna, the father of the 401(k) plan. Ted shares the fascinating story of how he conceived this groundbreaking idea, navigated the IRS approval process, and gives us a glimpse into his current projects.

Season 10
Social Security Good News!

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New Social Security Commissioner Cuts Clawbacks!

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Show Episode Notes

Podcast Hosts

Pam Krueger

Pam Krueger

Terry Savage

Terry Savage

Richard-Eisenberg

Richard Eisenberg

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