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Retirement Planning

Kiplinger’s Personal Finance: Don’t get hung up on a savings number | Business News [Video]

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The internet abounds with retirement calculators that will help you estimate the size of the nest egg you’ll need so that you don’t outlive your retirement savings. It makes sense. Business gurus tell us you can’t improve what you don’t measure.

We set other measurable goals in our lives so what’s the problem with aiming for, say, $5 million in savings by age 65? It sets us up for complacency, says Vicki Bogan, associate professor of economics at Cornell University in Ithaca, New York. “Anchoring on a specific number — and saying once you get [to] that number you’re done — is not the best idea,” she says. “The calculation of that number is predicated on a lot of assumptions.”

Experts generally recommend having enough savings to generate about 80% of your preretirement income annually, after factoring in what you’ll get from Social Security and any pension. You’ll need a …

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Retirement Planning

*BIDEN: IT'S HUGE!* $4,000 Monthly Stimulus Coming in Bank Accounts? Fourth Stimulus Approved? [Video]

Social Security, SSDI will get this much in 2022In this video, we discuss Social Security benefits including SSDI and how much of these millions of beneficiaries will be getting in 2022 as a result of everything going on right now. Many people in this community who receive Social Security benefits are wondering how much they will get it in 2022? This is what we cover in this video, how much will Social Security, SSDI and retirement benefits get it in 2022? We discuss all the answers in this video. This Video is specifically dedicated to Social Security retirement, Social Security disability, and Social Security survivors benefits, we also do have a dedicated videos talking about SSI, supplemental security income. If you are someone who receives Social Security benefits of any kind Including SSDI, this video is for you as we talked through some numbers. Of course we do not know what each specific person will be receiving simply because everybody receives a different benefit for the most part, however we discuss a general parameters around a monthly benefits in 2022.#SSDI #SSI #SocialSecurity Todays update on stimulus for seniors, ssi, and ssdi#socialsecurity #stimulusupdate

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Retirement Planning

How much your Social Security benefits will be if you make $30,000, $35,000 or $40,000 [Video]

The size of your Social Security check will depend on how much money you made throughout your career. Here's how much you can expect from your benefits based on three different salaries. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi The largest Social Security cost-of-living adjustment increase in decades is set to go into effect in 2022.The 5.9% pay bump was meant to help seniors cover the cost of rising inflation.If you want to see how future COLAs will affect your retirement, you’ll need to figure out how much Social Security you can expect every month. The size of your payment will be based on your income from your working years, the year you were born and your age when you decide to start receiving benefits.CNBC calculated a wide range of salaries to estimate future benefits for people who currently make $30,000, $35,000 or $40,000 per year but are planning to retire.Remember: Social Security was not envisioned as your sole source of money for retirement, and the totals are always changing.Watch this video for a breakdown of how much you will get and how your monthly benefit will be calculated based on multiple different salaries. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast Connect with CNBC News OnlineGet the latest news: http://www.cnbc.com/Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBCFollow CNBC News on Facebook: https://cnb.cx/LikeCNBCFollow CNBC News on Twitter: https://cnb.cx/FollowCNBCFollow CNBC News on Instagram: https://cnb.cx/InstagramCNBChttps://www.cnbc.com/select/best-credit-cards/ #CNBC#CNBCTV

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Retirement Planning

December 13th - CHECKS FOR SENIORS. $2,000 Social Security Benefits Update [Video]

todays update for seniors in retirement on ssi, ssdi, and social security benefits. Andrew Paulo, Blind to billionaire, social security changes,

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Retirement Planning

How to Avoid Tax Underpayment Penalties When Performing a Roth Conversion! [Video]

Do you have need experienced help optimizing and executing your Roth Conversion strategy? You can schedule an appointment with one of our Retirement Experts to look at your situation and help you plan for your future. Call us at (920) 544-0576 or go to https://www.safeguardinvest.com/contact. Do you know you can't just wait until tax time in order to pay a balance you owe to the IRS? If you do, you may be subject to a tax underpayment penalty and have to pay future quarterly estimated taxes. Neither of which are very fun...Withholding the right amount for taxes is a problem throughout retirement but specifically is a problem that can arise with Roth Conversions. Roth Conversion taxes can be paid in numerous ways. From withholding taxes right out of the conversion to paying taxes from your checking or savings accounts. Regardless of how you pay taxes, the IRS will force you to pay those taxes at a specific time or face IRS penalties.In this video, we are going to clear up a hot button issue in regard to Roth Conversions - How to pay the right amount in taxes at the right timeWe will discuss: ✅ How to pay estimated taxes in order to avoid underpayment penalties✅ The way you withhold taxes will vary based on what source you are paying those taxes from✅ How to meet one of the three guidelines the IRS specifies you need to meet in order to avoid IRS penalties- - - - - - - - - - - - - - - - - - - - - - Always remember, "You Don't Need More Money; You Need a Better Plan"🍿 Subscribe to our channel: https://www.youtube.com/channel/UCVMA...🏆 Join our 'Retirement Mastery' Facebook Group: https://bit.ly/retirement-mastery-group📈 Talk with us about your retirement plan here: https://www.safeguardinvest.com/contact📚 The New 60/40: How the Next Generation of Retirees Can Achieve Radical Financial Freedom through Better Safe Investing - https://www.amazon.com/New-60-Generation-Financial-Investing/dp/B08H6TCMFNSafeguard Wealth Management is a Registered Investment Advisor in the State of WI. Safeguard Wealth Management is not an insurance provider. All content on Youtube is for informational purposes only and should not be taken as personal advice for your situation. You can read more disclosures at https://www.safeguardinvest.com/fiduciary