How Much Do Retirees Really Spend in Retirement?

How much do retirees really spend in retirement? Does the Social Security Primary Insurance Amount (PIA) continue to rise with inflation? Is all the talk about higher future tax brackets just fear-mongering? Can "Johnny Mercer" afford to leave money for his heirs, and what should his strategy be for converting his retirement savings to Roth IRA for tax-free growth on his money? While Joe Anderson, CFP® and Big Al Clopine, CPA each take some much-needed vacation time, Your Money, Your Wealth® producer Andi Last enlists the help of senior financial advisor Rachel Fuss, CFP®, MPH from Joe and Big Al's team of experienced professionals at Pure Financial Advisors in Mercer Island, WA, to see if they can "Ac-cent-tchu-ate the Positive" for Johnny in YMYW Extra number 4. Free financial resources and transcript: bit.ly/ymywe-4
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00:00 - Intro
01:17 - Johnny Mercer's Cars, Drinks and Pets
02:19 - Will Social Security Primary Insurance Amount Continue to Rise With Inflation?
05:20 - Retirement Spending: What's Reality?
06:40 - Are Future Higher Tax Brackets Just Fear-Mongering?
08:21 - How Much Can We Afford to Spend and Still Leave Money for Heirs?
11:07 - Final Considerations & Roth Conversion Strategy
IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.
• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. As rules and regulations change, content may become outdated.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
CFP® - The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.
The Master of Public Health (MPH) is a postgraduate degree that is awarded to students who have trained to become public health practitioners to work in government, non-profits, or in industry work with communities, implement and evaluate public health programs, and/or help raise public awareness of best health practices. Most programs focus on 5 core areas: Biostatistics, Epidemiology, Environmental Health, Health Policy, and Health Administration, and Social and Behavioral sciences.
AIF® - Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.

[@davidfolts5893]

Thanks. Your Money, Your Wealth, your content is well thought out and presented.

[@YourMoneyYourWealth]

You're a top YMYW fan, David - we appreciate you!

[@davidfolts5893]

@@YourMoneyYourWealth My pleasure, indeed!😸