How to De-fuse the 401k/IRA Tax Time Bomb So YOU Can Experience a TAX FREE RETIREMENT

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6 Strategies To Help Increase Your Retirement Income

The 2018 EBRI Retirement Confidence Survey found that 17% of workers feel very confident in their ability to live comfortably in retirement, whereas 47% are somewhat confident.1 Combining these two groups, we can infer that 36% of workers are not confident in their ability to live comfortably in retirement, and/or 83% are somewhat confident to not confident at all. This report illustrates that workers nearing retirement are unsure of themselves and the actions needed for their desired retirement lifestyle.


Retirement Planning

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What exactly does this mean to you? Simply put, as Investment Advisor Representatives, we act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interests of our clients and to disclose any conflicts of interests and all associated fees. Additionally, the recently enacted Department of Labor (DOL) Fiduciary Rule imposes a fiduciary duty upon advice given to any retirement account, including qualified insurance annuity products. 

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Social Security

Social Security Overview – Knowing when and how to claim your Social Security retirement benefits can be confusing and sometimes overwhelming. Make sure you ask questions and more importantly, make sure you understand the answers.

If you have any questions about the information here, or would like to setup a time meet about your retirement and social security benefits, please don’t hesitate to give us a call.

You can start collecting your Social Security retirement payouts beginning at age 62. You must start collecting payouts prior to age 70 though. This leaves you with an 8 year window to start collecting your benefits.
If you retire prior to age 62, just make sure you have enough retirement income to cover the years before your benefits kick in.

The longer you wait to start collecting your Social Security retirement benefits, the larger those payouts will be. You’re probably asking yourself “why?” In order to receive the full retirement payout you’ve worked your whole life to earn, the government makes you wait until you’ve reached the “full retirement age.”
The full retirement age varies based on when you were born. The full retirement age used to be 65, but in 1983 Congress voted to raise the age to 67 for individuals born in 1960 or later. To find out your full retirement age visit

As a general rule, early or late retirement will give you about the same total Social Security benefits over your lifetime.

If you retire early, the monthly benefit amounts will be smaller to take into account the longer period you will receive them. If you retire late, you will get benefits for a shorter period of time but the monthly amounts will be larger to make up for the months when you did not receive anything.
There are advantages and disadvantages to taking your benefit before your full retirement age. The advantage is that you collect benefits for a longer period of time. The disadvantage is your benefit is reduced.

Once a year, the Social Security Administration will send you your annual benefits statement. In the statement, it will illustrate how much money you would receive in benefits if you wait until your full retirement age.
You can also estimate your benefit amount by using the Social Security Administrations calculator. You can access this at:
Keep in mind, that the younger you are, the less accurate your estimate will be, because your future earnings will play an important role