Retirement Strategy at 60 with $1,500,000 || Protecting Retirement Savings

In this livestream we are going to look at a 60 year old couple asking the question, “Can I Retire” and wanting to do retirement planning at 60.

We are also going to look at 3 specific retirement strategies: Can I Retire now, Roth IRA Conversion strategy, & How to protect Retirement savings.

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Retirement income strategies and retirement income planning are two big pieces to anyones retirement planning calculator. Whether you are wanting to know strategies for “retirement planning at 30”, “retirement planning at 40”, “retirement planning at 50”, or even “retirement planning at 60” understanding how much retirement income that you want versus how much you need gives you a roadmap to follow to and through retirement.

Here at Pearl Wealth Group, we run a trademarked retirement investment and retirement income plan for individuals and families who are wanting to retire called “Your Financial EKG™.” What we are trying to visualize is how long a persons retirement savings are going to last throughout retirement. If you are looking for early retirement planning tips or trying to saving for retirement in your 50’s, You Financial EKG™ is a great tool to help you understand where you are retirement planning. Retirement planning and retirement income strategies shouldn’t be complicated. They should just be done right.

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❌ **Please make sure you talk with your CPA, Financial Advisor, Retirement Planner, or Investment Advisor Representative, before implementing any content from this channel. All videos are for informational and educational purposes only. None of the content, comments, responses, information, or any other item on this channel constitutes financial advice or recommendations. Please call Pearl Wealth Group at 813-807-5060 to go through your Retirement Income, Retirement Investments, or retirement plan in more detail.** ❌

Pearl Wealth Group
Drew Blackston, CRC® & RFC®
Office: 813-807-5060
Info@pearlwealthgroup.com

Getting you to Retirement, through Retirement, & protecting YOUR ability to stay in Retirement!

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Retirement can be both an exciting and daunting prospect, especially when it comes to managing and protecting your savings. If you’re approaching 60 and have accumulated $1,500,000 in retirement savings, then you’re in a good position to live comfortably in retirement – but there are still important steps you should take to protect your hard-earned money.

Establish a Budget

One of the first things you should do as you approach retirement is establish a budget. This will allow you to determine your monthly expenses and plan how to allocate your retirement funds accordingly. A budget can help prevent overspending and ensure you don’t run out of money too soon. Consider your monthly bills, discretionary spending, and any upcoming expenses like home repairs or medical costs.

Diversify Your Investments

Another important step to protect your retirement savings is to diversify your investments. This means investing in a range of asset classes (e.g. stocks, bonds, real estate) to spread out risk and maximize returns. A diversified portfolio can help withstand market fluctuations, which is especially important if you plan to withdraw from your retirement savings to support your lifestyle.

Consider Annuities

An annuity is an insurance product that provides guaranteed income for a fixed period of time or for the rest of your life. Annuities can offer protection from market volatility and give you peace of mind knowing you will have a guaranteed income stream in retirement. Consult a financial advisor to determine if annuities are the right choice for your retirement strategy.

Maximize Social Security Benefits

Social Security benefits can provide valuable income in retirement, but it’s important to strategize how and when to start collecting benefits. Waiting until age 70 to claim Social Security benefits can maximize your monthly payments. If you’re married, maximizing your Social Security benefits can also include claiming spousal benefits or delaying benefits until the higher-earning spouse reaches age 70.

Prepare for Healthcare Costs

As you age, healthcare costs can become a significant expense in retirement. You may consider purchasing long-term care insurance or setting aside funds specifically for healthcare costs. It’s also important to plan for unexpected medical expenses that may arise in the future.

In conclusion, a strong retirement strategy at 60 with $1,500,000 should include budgeting, diversifying investments, considering annuities, maximizing Social Security benefits, and preparing for healthcare costs. Consult a financial advisor to determine what steps are best for your individual retirement needs and goals. Protecting your retirement savings is crucial to ensure a secure and comfortable retirement.