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It's going to be 2.6 percent Medicare will take half of that amount It's a shame the government can't take care of the elderly like there doing the immigrants

Watch out for disruptors in the financial planning industry similar to what has happened in law firms as AI advances.

Didn't realize how flexible a 529 plan was when it comes to actually using the funds. Great video!

Being able to grow tax free and take cash out tax free, is pretty great. The maximums for putting money into a permanent life insurance policy building cash is far higher than the Roth or IRA maximums. Also, three out of the four other investment options you listed are taxable income. If someone is even contemplating an idea like a permanent life/whole life insurance, that means they are facing tax problems in retirement and have the savings to be able to participate. There are back-door strategies for a Roth, but that's another story. For people with tax problems in retirement having a very stable fund of money backed by bonds and used as tax free income is a powerful strategy. This strategy is not for those with small income, small savings, and small 401k's. This strategy is for savers that have maxed out their 401k/IRA's and Roth already and have extra savings. I'm a normal person, not a finance or insurance professional.

ughhhh... and extra $25 for me?!!! ughhhh.... time to find me a job at 73 🙂

Good info. Hopefully it comes in higher than that. I'm retired Fed as well.

I don’t believe government inflation data. They keep telling us inflation is tanking. Isn’t it true though that inflation is just going UP slower than projected ? Going up slowly is not the same thing as going down. Also when will they factor in inflation for healthcare and property taxes and a whole host of other things ? Never !

We use to call that stacking

Thank you, Jeremy! Very helpful!

Didn’t they cook the books on the job numbers? Why not Social Security?

I really appreciate the video... great information, great presentation. Thank you

Good video. Another benefit of delaying SS is now more income is taxed at lower rates since at most 85% of SS is taxable and zero in my state so combined tax for me will be 21% vs 31% for other ordinary income

As usual and right on cue,gas prices always come down this time of year.

One benefit of life insurance is that it goes tax free to your heirs. That can be of particular benefit if part of your plan is to spend down your tax deferred accounts and let tax free grow but you die earlier than expected. The life insurance can help your heirs pay the tax on the IRA and replace the tax free savings you had anticipated growing for them.

Good video. Universal life insurance worked out for me. I got a policy through work at a time when I was a single bread winner with 2 young kids and needed insurance. The cash value paid a fixed rate of 4% including many years when you could not even get 1% risk free in other investments. Add to that tax deferral while I was in the top tax bracket. I have stopped making any contributions and the interest is more than double the cost of insurance.

When I do the break even on age 62 vs 67 vs 70, assuming the money invested at 4.5%, its mid to late 80’s before delaying is beneficial.

Good video. My thoughts 1. Life Expectancy. I am planning for joint life of 100. If I am wrong I won’t know i overestimated. If I die earlier My heirs will pay more tax than planned but also inherit more than planned since I didn’t spend it down. 2. SS strategy. I will defer until 70 as longevity insurance. If I die young see item one for impact to heirs. 3. Tax planning. I plan on living off my IRA for the next 7 years then SS and IRA after. I will only withdraw what is needed to live on and will likely not fully empty the account but will give it the best shot. No Roth conversions. I plan on letting everything else grow tax free for my heirs. A couple of variables that impacted my decisions. 1. I took the lump sum pension thus the delayed SS with COLA is a hedge. 2. I have more tax free income or assets that will get a step up in basis than I will ever need, in fact are unlikely to touch any of it. Thus other than for my heirs, I don’t need a Roth.

2.7 is way to high. Most likely below 2.3 by October

"Life insurance is not an investment, it is INSURANCE"--so simple, but important perspective!

Great information. It will be interesting to see how the Roth rollover option plays out in the coming years.

There is a flaw with your social security assumption. If you take it early, your other investments have more time to grow. This offsets some of the loss in value.

Have you seen the older people working they can't make it the disabled are put in nursing homes which cost the tax payer more.The people that get a retirement don't see the problem they don't give a rip

Option 6: Section 1035 tax-free exchange into an annuity.

Free Tax Smart Visit: calendly.com/keilfp/retirement-taxes-call

Life insurance is important to me as the main income of my household. Hadn't considered how it might play out when I make it to retirement--great video!

Why bother at 2.57%, disgusting. they want seniors to suffer more. And, Medicare costs more, unbelievable.

Dakota Wall

jumping the gun a little jeremy? no one knows til the middle of oct....no one....

The logic makes sence. The last 20 year for CPI-W average is 2.6% and looking st the last 10 years looks right on for 2025.

Sorry Jeremy I’m not completely following. $317k more in SS by retiring at 68 with what assumptions? How long does this person have to live to get the extra money? Thanks!

"Routinely" live "healthy" to be 100. You're kidding, right? I suggest you visit/volunteer at your local extended care facility and tell me how those 100 year olds are getting along. It's not pretty and you DON"T want to be one of them.

Thank you, Jeremy! Tax planning is a major value-add!!

Great video!

Thanks for the great discussion!

Tax laws will change and tax planning is the hardest thing in retirement planning for us.

That cola decrease is ridiculous. US government sucks! Thanks for nothing!

Thanks for your excellent and well-thought-out videos, Jeremy!

How to Prepare for a Stock Market Crash Early in Retirement: ua-cam.com/video/Wf3AHP8P1GQ/v-deo.htmlsi=B8tqDaLPMtrbkdOh

Do you think it is wise to get into roth retirement funds only , or get into some pretax retirement funds?

Great information! Thank you.

I am sure the sites will talk and talk and talk. What the projections are. Give a rest.

You expect I-Bonds to have a 2.2% inflation rate in Nov. when announced in October, two months from now? I don't think it will drop that low. My BIG question is: "What will the Fixed Rate be in November?" It stayed a 1.3% in May and if it's something like 0.8% of more in November, It would be worth paying the 3-month interest penalty and redeem the $10K 0.4% fixed rate bonds I bought in Jan. 2023 and buy $10K of 0.8% or higher fixed rate bonds in Jan. 2025 - with some money left over to go into my 4.2% savings account or a 4% CD.

Should you not just use a world allocation 60/40 fund?

Wow, lots of options once you get into retirement. I'm a ways off, but staggering our start dates for Social Security seems like a simple but effective way to max out my retirement savings.

Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.

How do I know if I have enough saved for retirement? I just turned 62 male, single, no kids and ZERO debt with 1.1 million in retirement savings (800K 403B and 300K Roth IRA). I plan on retiring in one more year in August of 2025.

Way to not answer the question

the only sure way to save social security is to make the cola apply to any and all government jobs including congress and the white house statt....if we get 2.57 then all those peoples raises will be capped at that percentage.

Current administration needs inflation to come down if they have any hope to stay in power. I’m sure they are skewing the numbers.