DKAC Retirement

Retirement planning services that protects our clients from being poor. Plain and simple.

[DKAC Retirement @DKACretirement]

Insurance companies and what the gov has allowed them to do has led to this shutdown.

[DKAC Retirement @DKACretirement]

The government shutdown is about more than illegal immigrants and no one on Capitol Hill wants to be held accountable.

[DKAC Retirement @DKACretirement]

Probate costs can be an unintended consequence to bad retirement planning.
No one wants their money to go to lawyers, but paying one to do an estate plan for you can save your beneficiaries from having to pay 10x the amount to settle your estate via probate.
If you went to work every day for 40-50 years with the intention of letting the courts and lawyers get your assets after your death, that’s exactly what will happen if you don’t have the correct planning in place.
If you want your assets to go to the INTENDED beneficiaries, the money and time is well worth it to work with a good attorney.

[DKAC Retirement @DKACretirement]

The timing of #socialsecurity Election can drastically change the rate at which you have to withdraw from investment accounts---and your advisor isn't talking about it.
Social Security has a guaranteed increase of 76% simply by delaying your benefit. You read that right!
Strategically planning when and how to file for your Social Security benefits can allow for more efficient use of retirement investment funds.
Most investment firms give little to no attention to this decision but make sure you consider ALL options before making your election.

[DKAC Retirement @DKACretirement]

Tax efficient withdrawal strategies can be critically important in retirement. ⚠️
Medicare premiums for example, can be dramatically increased if taxable income is over certain thresholds.
High medical insurance costs can have massive impacts on your retirement income.
If you value keeping more of your retirement dollars in your pocket, make sure you have tax efficient income strategies so as not to exceed these limits.

[DKAC Retirement @DKACretirement]

Investment account fees often are the biggest barrier to retiring.
You have to be able to pay that darn broker as well as pay yourself.
Advisory fees are on the rise often 1.5% or more for a one on one advisor, assuming you even have enough money to interest them.
This amounts to massive dollar figures over the course of the average retirement 20-25 years.
Don’t let hidden fees keep you from living your retirement dream.

[DKAC Retirement @DKACretirement]

Don’t let hidden investment account fees derail your retirement.
Most everyone is aware of the fee you pay your investment manager, but usually, if you invest in mutual funds, there is a hidden fee.
A 12b-1 fee is an annual fee charged by most mutual funds to cover marketing, distribution, and shareholder services, such as advertising and printing prospectuses.
It's often these same prospectuses that the 12b-1 fee is listed and it is rarely shown on a statement.
Rather they are extracted automatically as a percentage of your balance.

[DKAC Retirement @DKACretirement]

Part 1 | @benshapiro is wrong

[DKAC Retirement @DKACretirement]

Recent suggestions by @benshapiro and even the @realDonaldTrump to move the full retirement age to 70 should vehemently be opposed.

Don’t let anyone confuse this with anything other than a direct cut of benefits to today’s work force.

Even the most positive outcomes project this move would only extend benefits about another 12 years.
This is a direct cut of benefits by 20% to future recipients, with a disproportionate impact on blue collar, hard labor workers who don’t have extended life expectancy.
This is a band aid, it will not fix anything, and we should all oppose it.

[DKAC Retirement @DKACretirement]

You want to wait for 41 minutes on the phone? Sure sounds fun to me.

[DKAC Retirement @DKACretirement]

Most retirees depend on their employer to provide them with a road map when they decide to venture into retirement.
Often times those employers and HR reps are very unhelpful with the process of even filing the paper the paperwork and the process can become overwhelming in a hurry!
Don’t let your HRs failure be the beginning of a miserable retirement.
Instead find a professional who you can ask about all avenues of retirement and get good reliable advice, don’t depend on Helen in HR.

[DKAC Retirement @DKACretirement]

With over 1,550 different claiming strategy possibilities, it’s no wonder that retirees often miss out on available benefits. Social Security has a very unique equation and with some
Simple planning it’s possible to get up to 100k more over the course of the average lifetime just by identifying which claiming strategy best suits your situation.
There are some available softwares, as well as financial professionals that specialize in this and utilizing them is highly encouraged to get the most out of your benefits.

[DKAC Retirement @DKACretirement]

Most retirees think they don’t need an estate plan because they don’t have enough money or because lawyers are too expensive.
Unless you’ve gone through the probate process, you probably share this belief.
A simple estate plan with a will and trust can save someone up to $25,000 in probate fees with even a net worth of 100-250k!
Simple planning can go a long way in retirement, just make sure you don’t pay too much for what you may or may not need.

[DKAC Retirement @DKACretirement]

Life insurance is NOT a retirement plan.
It’s a tool that can be used in an effective plan for some, but more often than not that life insurance agent is trying to generate a big commission at your expense.
Rarely do the hypothetical proposals the life insurance company provides in the beginning come true and customers are left with an extremely underperforming asset.
Life insurance can be valuable but only in specific circumstances for specific purposes.

[DKAC Retirement @DKACretirement]

Retirement has just as many challenges as any other "stage of life."
Just today, I discussed with a retiree how her grand children, ages 2 & 4, were thrown into her household with no financial assistance.
As a grandparent what can you do? She’ll never turn the children away. She goes back to work to make a way forward.
Everyone has walked a different path in retirement, and everyone’s story deserves to be heard.

[DKAC Retirement @DKACretirement]

For a lot of retirees, medicare will start at age 65, but IT'S NOT AUTOMATIC.
If you are still working for an employer group for example and they provide you coverage, medicare will in most cases accept this as credible coverage and you may delay electing Part B of medicare until a later point when you no longer have the group coverage without penalty.
HOWEVER, if you go beyond age 65 with no credible coverage in place, and you DO NOT elect part B, if you elect It in the future you will be assessed a Part B premium penalty for “late enrollment” of 10% of your full premium amount for each 12 month period you went without coverage. #medicare

[DKAC Retirement @DKACretirement]

Forty percent of all retirees are dependent on Social Security for their sole income. The Social Security trust fund is expected to go BANKRUPT in less than 7 years, and there are not a ton of workable fixes.

1) Cut Grandma’s SS check by 21%,
2) Raise Taxes on employers and employees contributing the system, or
3) Raise the full retirement age to somewhere close to 75.

None of these are appealing and none of these are going to make a politician popular if they propose them, but few to no other options exist based on current funding rules and regulations that the trust fund has.
RETIREMENT PLANNING should at a MINIMUM, cover you for this with a plan for all scenarios.

[DKAC Retirement @DKACretirement]

When you think of a “retirement plan” you probably think of picking good investments and growing the account balances, and while that’s a good start, that is JUST the first step.
Things like budgeting for cash flow, taxes, insurance, college saving if you still have kids of that age, Social Security planning.....
The topic list is infinite and most people who are seeking you out to work with you in retirement are only interested in helping with a select few that make them money.
Please work with someone who will guide you through not only the financial beneficial to them segments and make sure you have an advocate ready to go to war with you on ALL retirement topics.

[DKAC Retirement @DKACretirement]

Almost every common job worker I have met over the last two decades when I ask them about their retirement plan, just whip out a 401k, show me the balance and have nothing else to show.
I PLEAD with them, please lock up all the loose ends that the “investment manager” won’t guide you on as well! Medicare elections and Social Security filing, budget planning, Tax implications to 401k withdrawals, how those withdrawals impact your medicare premiums and Social Security tax.
There is lots of advantages to having that 401k plan, but just contributing to it is not a RETIREMENT PLAN, it’s a retirement account.

[DKAC Retirement @DKACretirement]

Most modern day “retirement planning” is based off a decades old model where an advisor plugs your rough expenses into a spreadsheet and forecasts a 20-30 year window based on historical returns and then apply what is called the 4% rule to it and call it a day.
This is a good start, but because there is WAY more to account for in retirement than just how much money you have, this strategy often leaves a ton of gaps.
When to take Social Security makes a tremendous difference on how much of your investment account you need to spend annually. A 76%
Guaranteed increase awaits those who delay their SS income allowing for reduced NEED of withdrawal from those 401ks and investment accounts.
When the traditional advisor sees Social security they tend to look the other way because it doesn’t improve their ability to make money off of a client, but we value it above most other assets in retirement.