In this episode of Friends Talk Financial Planning, we discuss ways to access retirement funds before the usual age of 59½ without paying the standard 10% early withdrawal penalty. Many people assume they’re completely locked out of their retirement accounts until that age, but there are several exceptions worth knowing. One key option is the “age 55 rule,” which allows individuals to take money from a 401(k) or 403(b) plan without penalty if you leave our job at age 55 or ol

How do I save for retirement when I'm Self Employed? What are the options for retirement plans? Join us this week as we discuss small business retirement plans. We will explain the different options available and how to make the best choice based on your business's and personal needs. Option 1) SEP (Simplified Employee Pension): A simple, employer-funded IRA plan where employees can't contribute, but the employer makes contributions based on a percentage of employees' wages

Join us today for tips to maximize your spending in retirement when you saved more than you can possibly spend. I'm retired and I somehow have more money than I know what to do with. What do I do and how do I spend more? This is question we get from clients who have saved their whole life and now find themselves in retirement with more money than they can possibly spend. This week on Friends Talk Financial Planning, we discuss strategies for spending more effectively in r

Five signs you are not spending enough money in retirement. Typically we get the question - am I spending too much? However, it is just as important to consider the alternative - am I spending enough? This week on Friends Talk Financial Planning, we discuss the issue of underspending in retirement. While many people worry about running out of money in retirement, some retirees actually have the opposite problem: they aren’t spending enough. As clients enter their 70s or 80s

Retirement planning for inflation - Don't worry about inflation, be happy in retirement! Many people worry about how inflation will affect their retirement expenses. It may not affect retirement as much as you might think. This week on Friends Talk Financial Planning, John and Bridget discuss the challenges and concerns surrounding inflation in retirement planning. They offer practical insights on how to manage inflation so you don't need to worry in retirement. They will di