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RETIREMENT PLANNING FAQ

Got a question? You’re definitely not alone. We hear these all of the time, so we put together a quick, no-nonsense retirement FAQ guide to save you from those 2 AM Google rabbit holes.


Social Security: Your Monthly Paycheck from Uncle Sam

When should I start collecting Social Security benefits?
Start at 62 if you need it, wait until 70 if you want the max payout. Somewhere in between? That’s what strategy’s for. We help you do the math so you don’t leave money on the table.
It depends on your earnings history. Think of it as a financial “Greatest Hits” album, your top 35 years. We’ll help you pull your statement and decode it like pros.
Yes, but if you’re under full retirement age, Uncle Sam might withhold a few bucks. Don’t worry, it’s not lost forever. We’ll help you work the loopholes like a champ.
Yep, up to 85% could be taxable depending on your income. But with a little planning, we can minimize the IRS party at your expense.
The Social Security trust fund may shrink, offering you lower payouts, but it’s not vanishing. We treat this plan like it’s a bonus, not the main meal. We help you plan that.

IRAs & Roths: The Retirement Power Tools

What's the difference between a Traditional and Roth IRA?
Traditional = tax break now, taxes later. Roth = taxes now (while they are on sale), tax-free party later. We’ll help you pick your poison.
Maybe. Too much income? There’s a sneaky little move called a backdoor Roth. Yep, it’s legal. And yes, we love helping with it.
Fancy term for shifting money from your Traditional IRA into a Roth and pre-paying taxes. We help you figure out when it’s worth it (and when it’s not).
Age 73 or 75, depending on your birth year. Roth IRAs? No RMDs. One more reason we love ’em.
Easy. Don’t raid the piggy bank before 59½ unless you’ve got an exception (we know ’em all). Planning = freedom.

Annuities: Retirement Income Without the Guesswork

What is an annuity, really?
An annuity is a contract with an insurance company. You invest money, and in return, it pays you income, often for life. Think of it like a personal pension that you create.
Fixed and fixed indexed annuities are insured by the issuing company, so they’re designed to protect your principal. Variable annuities, on the other hand, do carry market risk. We help you sort the stable from the sketchy.
If you’re near retirement and want guaranteed income you can’t outlive, it could be a great fit. Earlier? You might want to lock in higher benefits or tax-defer growth.
Yup, and only when you start withdrawing. If it’s inside a Roth IRA? Hello, tax-free income. We can help you decipher if it’s right for your situation.
Not with fixed or indexed types (unless you cash out early and eat surrender charges). Variable annuities? Yep, you can lose principal. That’s why strategy and contract design matter.

Medicare: The Health Insurance You Didn't Ask For (But Really Need)

When do I sign up for Medicare?
You’ve got a 7-month window around your 65th birthday. Miss it, and you could have late penalties that show no mercy. These penalties can impact you for the rest of your life.
Hospital, doctors, prescriptions. Not teeth, eyes, ears, or long-term care. (Yeah, kind of weird.) We have access to hundreds of trusted-Medicare brokers.
Basically anything fun or long-term: dental, vision, hearing aids, in-home care. We help fill in the gaps.
It’s like Coke vs. Pepsi, depends on your taste, lifestyle and budget . We’ll refer you to someone that can walk you through the pros, cons, and fine print.
Depends on your employer coverage. We’ll refer you to someone to help you decide if it’s time to jump ship or stay put.

IRMAA: The Sneaky Medicare Surcharge

What is IRMAA (Income Related Adjustment Amount?
It’s basically Medicare’s way of saying “Thanks for doing financially well!”then charging you more for Part B (Medical) and D (Drug Coverage). We keep an eye on it so it doesn’t sneak up and bite your budget.
Based on your income from two years ago. Time travel, but with more paperwork. We can help you plan and lower this, saving you tens of thousands of dollars over a lifetime.
Almost everything…except Roth withdrawals (woo!). We help you plan smarter to stay under the tax radar.
It can, for the year you convert. But it could save you loads in the long game. Short-term sting, long-term gain.
Yes! Big life changes like retirement, divorce, or a drop in income? File a form and potentially save a bundle. We can help with this!

Long-Term Care: The Elephant in the Retirement Room

What is long-term care, really?
It’s not medical, it’s to help with basic things like dressing, bathing, or remembering where you put your phone. Most people need it eventually.
On average? $4,000–$10,000 a month. Ouch. That’s why we plan before it becomes a crisis. These are prices today which will increase and inflate over time.
Nope. Not even close. It may cover rehab for a bit, but not true long-term care.
Traditional LTC insurance, hybrid policies, or asset-based annuities. We help you compare without falling asleep.
Before you need it, usually in your 50s or early 60s. Younger = cheaper and more options.

Life Insurance in Retirement: It’s Not Just for the Kids

Do I really need life insurance after 60?
Depends. Do you want to leave a legacy, pay off taxes, or use it for care costs? Then yes, it might be your secret weapon.
We usually recommend permanent life with living benefits or long-term care riders. Think of it as a Swiss Army knife.
If it has cash value, yep! Many policies let you borrow tax-free—kind of like your own personal bank.
100%. It can pay estate taxes, protect assets, or pass wealth completely tax-free. Not just a death benefit, it’s a strategy.
Maybe. Maybe not. Let us review it, free of fluff and jargon. If it still fits your plan, great. If not, we’ll find better options for you.
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