Podcast appearances and mentions of mary beth franklin

Why This Episode Is a Must-Watch Planning for retirement can feel overwhelming with its complexities and uncertainties. This episode of "Inspired Money" tackles the essential question: How do you turn your savings into reliable income that will last throughout retirement? We bring together a panel of four esteemed experts to share proven strategies, actionable insights, and industry wisdom to help you craft a solid retirement income plan. Whether you are just beginning to think about retirement or looking to refine your strategy, this episode offers valuable advice on diversifying your income, managing taxes, and inflation-proofing your financial future. Meet the Expert Panelists Wade Pfau, PhD, CFA, RICP®, is one of the foremost thought leaders in retirement income planning. He's a professor at The American College of Financial Services, a partner at McLean Asset Management, and the author of the widely acclaimed "Retirement Planning Guidebook." Holding a PhD in Economics from Princeton University, Wade's research has shaped how retirees and financial professionals approach sustainable income strategies. Mary Beth Franklin, CFP®, is a leading authority on Social Security and Medicare. A veteran financial journalist, she's spent over 40 years educating both consumers and financial advisors. She's also the author of "Maximizing Your Social Security Retirement Benefits." If you want to get every dollar you're entitled to, Mary Beth's insights are invaluable. William Bengen revolutionized the way we think about retirement withdrawals and is author of "A Richer Retirement". Best known for creating the "4% Rule," his research has guided countless retirees toward sustainable spending strategies. With an Massachusetts Institute of Technology background in aerospace engineering and a second career in financial planning, Bill brings both precision and practicality to the table. Dana Anspach, CFP®, RMA®, CFP®, RMA®, is the founder and CEO of Sensible Money, LLC. She's dedicated her career to helping people create sustainable retirement income plans. She's the author of "Control Your Retirement Destiny" and "Social Security Sense." Dana's hands-on experience makes her a wealth of practical knowledge. Key Highlights: The Importance of a Diversified Income Portfolio Bill Bengen reveals insights into maintaining a balanced portfolio with an optimal stock allocation to protect against market volatility. He notes, "You need to keep a healthy allocation to stocks to ensure your portfolio generates enough return." Tax Efficient Withdrawal Strategies Wade Pfau discusses maximizing the longevity of retirement funds through strategic tax withdrawal strategies, emphasizing, "Managing an effective marginal tax rate in a strategic manner can have a huge impact on the sustainability of funds in retirement." Social Security as a Foundational Income Source Mary Beth Franklin underscores the critical role of Social Security, providing guidance on maximizing benefits while addressing public concerns about its future reliability. Inflation Risks The episode highlights the threat of inflation and offers strategies to protect retirement income, with Bill Bengen noting that "Inflation is the greatest risk to retirees. Call-to-Action This week, take a closer look at your retirement income plan. Start crafting or refining your strategy to ensure that you have a diversified mix of income sources, consider the impact of inflation, and explore avenues for making your withdrawals more tax-efficient. Planning and flexibility are your keys to a secure financial future. Find the Inspired Money channel on YouTube or listen to Inspired Money in your favorite podcast player. Andy Wang, Host/Producer of Inspired Money

Jack Martin sits down with Mary Beth Franklin to discuss the newly passed Social Security Fairness Act and its implications for retirement income planning. The post Understanding the Social Security Fairness Act with Mary Beth Franklin (Ep. 80) first appeared on Simplicity InsurMark.

Whether you're 25 or nearing retirement age, you'll learn something new about how to maximize social security and plan for the future in today's show. Wes introduces you to Mary Beth Franklin, one of the country's leading specialists on social security and Medicare and a popular guest on Wes's Retire Sooner podcast. In this conversation, Mary Beth answers questions such as, why do you think Social Security has become so confusing and difficult for so many people to make sense of as they get ready to retire? What are some actionable steps to take right now to prepare for or maximize their social security? And what you need to know when it comes to spouses and social security.

Send us a textI'm absolutely thrilled and honored to welcome the incredible Christine Benz In the Suite. Christine, director of personal finance and retirement planning for Morningstar and senior columnist for Morningstar.com. is an absolute trailblazer in personal finance and a trusted voice in retirement planning, portfolio management, and financial literacy.For over three decades strong, Christine doesn't just explain personal finance—she redefines it. As co-host of Morningstar's podcast The Long View, soon to be topping over 300 episodes, Christine is on the forefront of finance, talking to today's most influential leaders in investing, advice, and personal finance about a wide-range of topics, such as asset allocation and balancing risk and return.Christine has earned numerous accolades, including being named one of Barron's 100 most influential women in finance and a 2021 honoree as one of the 10 most influential women in wealth management. You know her as a frequent public speaker and widely quoted in the media, The New York Times, The Wall Street Journal, Barron's, and even PBS, and she serves as president of the board for the John C. Bogle Center for Financial Literacy, making her a beacon in financial education.But that's not all. She's a triple threat in the book world? Her latest bestseller, How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement, is packed with wisdom from 20 top experts and names you'll recognize. Her earlier books, 30-Minute Money Solutions and The Morningstar Guide to Mutual Funds, prove she's on a mission to make personal finance less intimidating—and a whole lot more doable.In today's episode, we dive deep into the insights and inspiration behind Christine Benz's latest book, How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement. Christine takes us on a journey through the book's creation to insights into women's unique financial challenges, from Jean Chatsky, Mary Beth Franklin, and Laura Carstensen. We'll also explore Christine's own philosophy on balancing finances with life's intangible joys and her passion for fostering financial literacy among underserved communities.Christine's journey is a blueprint for turning knowledge into impact and passion into purpose. Don't miss this episode as we uncover her mission to educate, inspire, and elevate investors—right here, In the Suite.

Today, I'm talking to Mary Beth Franklin. Mary Beth is a CERTIFIED FINANCIAL PLANNER, a former Capitol Hill reporter at United Press International, and the retirement and tax editor at Kiplinger Personal Finance. She also has a new edition of her bestselling book, Maximizing Social Security Benefits, a must-read for retirees and pre-retirees. My first interview with Mary Beth was our most downloaded and most watched episode of this podcast, so I'm thrilled to have another chance to talk to her about Social Security (and if you haven't listened to that first episode, be sure to do so before diving into this one, as it covers the foundational elements of Social Security).  In today's conversation, we discussed what's changed about Social Security over the last several years, how to take advantage of these changes in your financial and retirement planning, and, of course, the future of Social Security and its potential insolvency. You'll also hear what semi-retirement looks like for Mary Beth, as she very recently semi-retired herself, and shares advice for anyone who still enjoys working in their pre-retirement years. GET A FREE ACCESS TO MARY BETH'S BOOK: MAXIMIZING SOCIAL SECURITY BENEFITS  Here's all you have to do... Step 1.) Subscribe to the podcast and leave an honest rating & review over on iTunes. Step 2.) Text the word BOOK to 866-482-9559 and we'll make sure you get signed up for free. It's that simple! In this podcast interview, you'll learn: Why so many of the Social Security claiming strategies that became popular in the late 2000s have disappeared. What it would mean for Social Security to become insolvent–and why it's highly unlikely for anything to be done about it anytime soon. How your Social Security is calculated, and how to get a clear picture of what your benefits look like (or would look like) right now.  Why more people regret claiming benefits too early rather than too late. Social Security claiming strategies that haven't been eliminated by Congress, especially for divorced and widowed retirees. What Mary Beth has learned from her husbands' retirement and her own semi-retirement. Our Market Outlook Webinar is live! Visit https://bit.ly/4bmHkUb to register. Show Notes: RetireWithPurpose.com/462 Rate & Review the Podcast: RetireWithPurpose.com/review

Jack Martin discusses strategies for optimizing retirement income with Mary Beth Franklin. Mary Beth shares advice to help stay ahead in a changing landscape. The post Simplifying Social Security for Advisors with Mary Beth Franklin (Ep. 73) first appeared on Simplicity InsurMark.

Social Security guru Mary Beth Franklin discusses the program's financial challenges and outlook, plus individual strategies to maximize its benefits. WEALTHTRACK episode 2105 broadcast on August 1, 2024 More info: Link to Mary Beth Franklin's public television special "Social Security & You" https://www.pbs.org/show/social-security-you-with-mary-beth-franklin/ Download the 2023 version of Mary Beth Franklin's ebook Maximizing Social Security Retirement Benefits for $29.95 at https://marybethfranklin.com/ebook-on-social-security-estimated-benefits/ --- Support this podcast: https://podcasters.spotify.com/pod/show/wealthtrack/support

This week, David revisits his April 18th episode, featuring special guest Mary Beth Franklin. Share with a Friend

This week, David is joined by special guest Mary Beth Franklin, one of the leading Social Security experts. Share with a Friend

Wes welcomes back Social Security virtuoso Mary Beth Franklin to help retirees maximize this crucial income stream despite the overwhelming rules and regulations. Then, they analyze the differences between different Medicare plans and discuss which ones might suit which people. Mary Beth offers the most up-to-date information and context and keeps Wes on his toes.

On today's episode of the Retire Sooner podcast, Wes welcomes back Mary Beth Franklin. This time, she takes on the herculean task of simplifying Medicare. They get into the differences between Medicare A, B, C, D, Advantage Plans, Gap Plans, and Supplemental Coverage. Mary Beth lays out which options might suit which people, depending on their lifestyles. She flags when it could be ideal to pay for the more expensive plan and when the cheaper selection could suffice. She gets into the weeds on age, tax requirements, and how to avoid penalties. She tells Wes what Medicare looks like for American citizens living abroad, sets the record straight on Medicare vs. Medicaid, and explains why paying FICA payroll taxes all those years doesn't make your retirement coverage free. As always, Mary Beth keeps Wes on his toes. Listen and find out why. Learn more about your ad choices. Visit megaphone.fm/adchoices

Social Security can be an essential stream of income for retirees on a fixed income. Unfortunately, the seemingly endless rules and regulations can overwhelm even the most informed applicants. In today's Retire Sooner episode, Social Security ace Mary Beth Franklin joins Wes to bring listeners the most up-to-date information and context about avoiding pitfalls and maximizing benefits. In a dynamic conversation, Wes channels the questions of many Americans. He even puts Mary on the hot seat about whether or not Social Security funds will last for future generations. You may be surprised by her opinion. Learn more about your ad choices. Visit megaphone.fm/adchoices

On the podcast today, we welcome back Jonathan Clements, who was among our first guests when we launched this podcast back in 2019. Jonathan is the founder and editor of HumbleDollar, and he is also the editor of a new book called My Money Journey, which is a compilation of essays from 30 individuals about how they found financial freedom. Jonathan also sits on the advisory board of Creative Planning, one of the country's largest independent financial advisors and is the author of nine personal finance books. Earlier in his career, Jonathan spent almost 20 years at The Wall Street Journal, where he was the newspaper's personal finance columnist and six years at Citigroup, where he was director of financial education for the bank's U.S. Wealth Management arm.BackgroundBioHumbleDollarMy Money Journey, edited by Jonathan ClementsCurrent Conditions“What I Don't Own,” by Jonathan Clements, humbledollar.com, March 4, 2023.“Happy Talk,” by Jonathan Clements, humbledollar.com, Nov. 19, 2022.“Behaving Badly,” by Jonathan Clements, humbledollar.com, Sept. 18, 2021.“Nine Roads to Ruin,” by Jonathan Clements, humbledollar.com, March 6, 2021.“New Rules for Success,” by Jonathan Clements, humbledollar.com, Nov. 26, 2022.“Pay It Down,” by Jonathan Clements, humbledollar.com, Aug. 17, 2019.Indexing, Retirement, and Real Estate“Four Questions,” by Jonathan Clements, humbledollar.com, Feb. 22, 2020.“Jonathan's Portfolio,” by Jonathan Clements, humbledollar.com.“Mix and Match,” by Jonathan Clements, humbledollar.com, Dec. 4, 2021.“Risking My Life,” by Jonathan Clements, humbledollar.com, Aug. 8, 2020.“Jonathan's Retirement,” by Jonathan Clements, humbledollar.com.“How to Overhaul Your Retirement Portfolio in Just 7 Days,” by Jonathan Clements, money.com, Jan. 3, 2019.“The Long Game,” by Jonathan Clements, humbledollar.com, Feb. 4, 2023.“Jonathan's Homes,” by Jonathan Clements, humbledollar.com.Theory and Thrift“Helpful in Theory,” by Jonathan Clements, humbledollar.com, Feb. 11, 2023.“Don't Overdo It,” by Jonathan Clements, humbledollar.com, Jan. 23, 2021.Other“Jonathan Clements: ‘It's in Wall Street's Interest to Make Everyday Investors Think That They Are Stupid,'” The Long View podcast, Morningstar.com, July 31, 2019.“Credit Scores and Committed Relationships,” by Jane Dokko, Geng Li, and Jessica Hayes, federalreserve.gov, August 2015.Morningstar Investment Conference 2023If you're looking for even more investing insights, data, and analysis, join us at this year's Morningstar Investment Conference, April 25 through 27 in Chicago. We have a great agenda this year, featuring top financial minds from market gurus like Liz Ann Sonders to great investors like Steve Romick to retirement planning experts like Mary Beth Franklin and Dr. Laura Carstensen. There's something for everyone looking to tackle the challenges and opportunities for investors in the current market. We're in-person only this year. So, check out the link in our show notes to register. We're looking forward to seeing you in Chicago.

With the New Year coming up quick, we wanted to highlight some of our best episodes to round out 2023. This week we'll be revisiting our conversation with Mary Beth Franklin on Social Security claiming strategies (originally Episode 65).  We'll be back with brand new episodes after the holiday season! Thanks for listening - and we'll see you in 2024!    Repost from Episode 65  In this episode, we welcome Mary Beth Franklin and discuss the various intricacies of social security claiming strategies. While there are basic decision trees that most of us know about, Mary Beth goes into detail regarding more nuanced strategies that can make a big difference in your payout. We also discuss Mary's views on where she sees social security over the long term. Listen Now to learn more!   This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode of the Earn & Invest podcast we discuss the often-neglected topic of Social Security, with Mary Beth Franklin, a seasoned retirement expert, unraveling the complexities and dispelling common misconceptions. With over 40 years of financial journalism experience, Franklin provides a comprehensive Social Security 101, highlighting its importance in retirement planning and addressing the risks associated with both assuming its non-existence and overlooking its impact on financial security. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hosts Jeff Benjamin and Bruce Kelly tackle the Wells Fargo riddle, with its budget cuts that sent a sizable group of advisers packing. The Social Security trust funds, created to help pay future retirement benefits when payroll tax revenues alone are no longer sufficient, will run dry sooner than previously predicted due to the COVID-19 pandemic and the recession it triggered. Mary Beth Franklin joins to discuss her important cover story.

Mary Beth Franklin is one of the country's leading experts on Social Security and Medicare. An award-winning journalist and Certified Financial Planner, Mary Beth writes a weekly column on retirement issues for Investment News and is author of the ebook, Maximizing Your Social Security Retirement Benefits.

Episode Notes Jeff and Bruce chat with InvestmentNews contributing editor Mary Beth Franklin about recent projection that the Social Security trust funds will run out by 2034. Mary Beth walks us through how Social Security currently works, how it's been an ever-evolving system in constant need of reform, and the reality that this current problem is not a math problem but a political one. Guest Bio: Mary Beth Franklin is a dontributing editor at InvestmentNews specializing in Social Security, Medicare and retirement income. She has been a financial journalist for more than 40 years, covering everything from federal budget and tax policies as a Capitol Hill reporter for United Press International to consumer finances as a writer and editor at Kiplinger's Personal Finance magazine. Mary Beth became a certified financial planner in 2015 and is an in-demand speaker at conferences for financial professionals as well as a frequent guest on numerous radio and television programs. She is the author of “Maximizing Your Social Security Retirement Benefits” and host of the Retirement Repair Shop podcast. In her free time, Mary Beth likes to read, garden, ski and play the piano. She received a BA in Communications from American University in 1975 where she continues to mentor journalism students. As one of the industry's largest and most experienced asset managers, we offer a focused lineup of competitively priced ETFs, mutual funds and separately managed account strategies designed to serve the central needs of most investors. By operating our business through clients' eyes, and putting them at the center of our decisions, we aim to deliver exceptional experiences to investors and the financial professionals who serve them.

Whether you're currently a senior citizen or hope to live long enough to become one some day, funding our elder years is becoming a bigger & bigger challenge. For many if not most Americans, Social Security will serve as the bedrock foundation for the income they can expect to receive later in life. But how does that program work exactly? What are the pitfalls and the best practices we should be aware of in deciding when and how to enroll in it? And for those currently not yet seniors, will there even be a Social Security program to rely on by the time we are? To provide answers to these and many more of the surprisingly tricky questions around Social Security, we're fortunate to speak with certified financial planner Mary Beth Franklin – author of the book “Maximizing Your Social Security Retirement Benefits”. As we enter the second half of 2023, will the stronger-than-expected recovery in the markets continue? Or will forces, such as the lag effect of the Fed's hawkishly aggressive policies over the past year, ruin the current party? For insight, it helps to talk to those tasked with captaining client capital through the seas ahead. Today, we're fortunate to hear from Michael Green, portfolio manager & chief strategist at Simplify Asset Management. ************************************************* At Wealthion, we show you how to protect and build your wealth by learning from the world's top experts on finance and money. Each week we add new videos that provide you with access to the foremost specialists in investing, economics, the stock market, real estate and personal finance. We offer exceptional interviews and explainer videos that dive deep into the trends driving today's markets, the economy, and your own net worth. We give you strategies for financial security, practical answers to questions like “how to grow my investments?”, and effective solutions for wealth building tailored to 'regular' investors just like you. There's no doubt that it's a very challenging time right now for the average investor. Above and beyond the recent economic impacts of COVID, the new era of record low interest rates, runaway US debt and US deficits, and trillions of dollars in monetary and fiscal stimulus stimulus has changed the rules of investing by dangerously distorting the Dow index, the S&P 500, and nearly all other asset prices. Can prices keep rising, or is there a painful reckoning ahead? Let us help you prepare your portfolio just in case the future brings one or more of the following: inflation, deflation, a bull market, a bear market, a market correction, a stock market crash, a real estate bubble, a real estate crash, an economic boom, a recession, a depression, or another global financial crisis. Put the wisdom from the money & markets experts we feature on Wealthion into action by scheduling a free consultation with Wealthion's endorsed financial advisors, who will work with you to determine the right next steps for you to take in building your wealth. SCHEDULE YOUR FREE WEALTH CONSULTATION with Wealthion's endorsed financial advisors here: ⁠⁠⁠⁠⁠⁠https://www.wealthion.com/⁠⁠⁠⁠⁠⁠ ************************************************* IMPORTANT NOTE: The information and opinions offered in this video by Wealthion or its interview guests are for educational purposes ONLY and should NOT be construed as personal financial advice. We strongly recommend that any potential decisions and actions you may take in your investment portfolio be conducted under the guidance and supervision of a quality professional financial advisor in good standing with the securities industry. When it comes to investing, past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in partial or total loss.

In this special episode of Swift Chats, taped live at the #MICUS Podcast Stage, Hosts Jonny Swift and Marie Swift recap highlights and insights from the 2023 Morningstar Investment Conference with Mary Beth Franklin, Contributing Columnist at InvestmentNews and Laura Carstensen, Director of the Stanford Center on Longevity. The group discusses the challenges and opportunities for financial advisors in the evolving landscape of retirement income planning, the importance of holistic financial planning, engaging the next generation in financial conversations, and finding a sense of purpose in later life. Dr. Carstensen emphasizes the significance of adapting to an era of increased life expectancy, while Mary Beth Franklin discusses the challenges and responsibilities faced by financial advisors in helping clients navigate financial decisions in retirement. Find more great content from the 2023 Social/Digital Hub at the Morningstar Investment Conference at: https://www.socialdigitalhub.com/

In this episode, we welcome Mary Beth Franklin and discuss the various intricacies of social security claiming strategies. While there are basic decision trees that most of us know about, Mary Beth goes into detail regarding more nuanced strategies that can make a big difference in your payout. We also discuss Mary's views on where she sees social security over the long term. Listen Now to learn more!   Links Join the FREE 4-day Retirement Income Challenge for Consumers on May 22nd-25th by registering now at risaprofile.com/podcast  This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/roth/ to download McLean's free eBook, "Is a Roth Conversion Right For You?"  

May 15, 2023 on ForYourBenefit, hosts Bob Leins, CPA® and Tammy Flanagan, Senior Benefits Director NITP, welcome Mary Beth Franklin, Certified Financial Planner®, Contributing Editor for InvestmentNews, President of RetirePro, and foremost Social Security expert. What are the claiming strategies for Social Security that will maximize your retirement security? When does it make sense to claim Social Security at 62? When does it make sense to delay claiming Social Security? Can you still do-over your Social Security election or can you suspend your benefit payments? What is the difference between payroll taxes and the income taxes you may have to pay on your benefits? What are the “Social Security Trust Funds”? How is Social Security financed? Is Social Security going broke? What does the 2023 Social Security Trustees report mean when it states: The fund's reserves will become depleted and continuing tax income will be sufficient to pay 77% of scheduled benefits? What are the likely changes that lawmakers will make to reduce or eliminate the long-term financing shortfalls in Social Security and Medicare? What is the purpose of the Social Security cost-of-living adjustment? Inflation is at near record highs; will the COLA keep up with inflation? If I delay Social Security past age 62, will I miss out on the COLAs? For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

In this week's episode, Lynn sits down with renowned journalist, Social Security expert, and Retirement Professional, Mary Beth Franklin, CFP to discuss getting the most out of your Social Security benefits.  As an award-winning journalist for over 40 years, including a stint on Capitol Hill for United Press International, Mary Beth has written about big-picture policy issues, such as the federal budget and tax legislation, as well as consumer-focused personal finance advice articles on how to maximize Social Security benefits, minimize tax bills, and enroll in Medicare. She spent 13 years as the tax and retirement editor at Kiplinger's Personal Finance magazine and subsequently educating financial advisors as a Contributing Editor at Investment News. At Kiplinger, She also edited the annual Retirement Planning Guide and monthly Retirement Report newsletter. In 2016, she received the prestigious Jesse H. Neal Award for Best Instructional Content for her article “Demystifying Social Security.” That same year, she received a Hero Award from the Women's Institute for Secure Retirement (WISER) for her educational efforts to improve retirement security for women. In 2021, Editor and Published presented her with an EPPY award, citing her “On Retirement” column as the best business blog of the year. In 2022, she received the runner-up EPPY award in the same category, and she also received the Investment News Trailblazer award for her contributions to the retirement income planning profession as part of Investment News' annual Women to Watch event. You can find out more about Mary Beth Franklin and her services at https://marybethfranklin.com/   https://www.linkedin.com/in/mary-beth-franklin-ab7a9a3/ https://twitter.com/MBFretirepro  

On the podcast today, we welcome back Jonathan Clements, who was among our first guests when we launched this podcast back in 2019. Jonathan is the founder and editor of HumbleDollar, and he is also the editor of a new book called My Money Journey, which is a compilation of essays from 30 individuals about how they found financial freedom. Jonathan also sits on the advisory board of Creative Planning, one of the country's largest independent financial advisors and is the author of nine personal finance books. Earlier in his career, Jonathan spent almost 20 years at The Wall Street Journal, where he was the newspaper's personal finance columnist and six years at Citigroup, where he was director of financial education for the bank's U.S. Wealth Management arm.BackgroundBioHumbleDollarMy Money Journey, edited by Jonathan ClementsCurrent Conditions“What I Don't Own,” by Jonathan Clements, humbledollar.com, March 4, 2023.“Happy Talk,” by Jonathan Clements, humbledollar.com, Nov. 19, 2022.“Behaving Badly,” by Jonathan Clements, humbledollar.com, Sept. 18, 2021.“Nine Roads to Ruin,” by Jonathan Clements, humbledollar.com, March 6, 2021.“New Rules for Success,” by Jonathan Clements, humbledollar.com, Nov. 26, 2022.“Pay It Down,” by Jonathan Clements, humbledollar.com, Aug. 17, 2019.Indexing, Retirement, and Real Estate“Four Questions,” by Jonathan Clements, humbledollar.com, Feb. 22, 2020.“Jonathan's Portfolio,” by Jonathan Clements, humbledollar.com.“Mix and Match,” by Jonathan Clements, humbledollar.com, Dec. 4, 2021.“Risking My Life,” by Jonathan Clements, humbledollar.com, Aug. 8, 2020.“Jonathan's Retirement,” by Jonathan Clements, humbledollar.com.“How to Overhaul Your Retirement Portfolio in Just 7 Days,” by Jonathan Clements, money.com, Jan. 3, 2019.“The Long Game,” by Jonathan Clements, humbledollar.com, Feb. 4, 2023.“Jonathan's Homes,” by Jonathan Clements, humbledollar.com.Theory and Thrift“Helpful in Theory,” by Jonathan Clements, humbledollar.com, Feb. 11, 2023.“Don't Overdo It,” by Jonathan Clements, humbledollar.com, Jan. 23, 2021.Other“Jonathan Clements: ‘It's in Wall Street's Interest to Make Everyday Investors Think That They Are Stupid,'” The Long View podcast, Morningstar.com, July 31, 2019.“Credit Scores and Committed Relationships,” by Jane Dokko, Geng Li, and Jessica Hayes, federalreserve.gov, August 2015.Morningstar Investment Conference 2023If you're looking for even more investing insights, data, and analysis, join us at this year's Morningstar Investment Conference, April 25 through 27 in Chicago. We have a great agenda this year, featuring top financial minds from market gurus like Liz Ann Sonders to great investors like Steve Romick to retirement planning experts like Mary Beth Franklin and Dr. Laura Carstensen. There's something for everyone looking to tackle the challenges and opportunities for investors in the current market. We're in-person only this year. So, check out the link in our show notes to register. We're looking forward to seeing you in Chicago.

Jeff and Bruce chat with InvestmentNews contributing editor Mary Beth Franklin about recent projection that the Social Security trust funds will run out by 2034. Mary Beth walks us through how Social Security currently works, how it's been an ever-evolving system in constant need of reform, and the reality that this current problem is not a math problem but a political one. Guest Bio: Mary Beth Franklin is a dontributing editor at InvestmentNews specializing in Social Security, Medicare and retirement income. She has been a financial journalist for more than 40 years, covering everything from federal budget and tax policies as a Capitol Hill reporter for United Press International to consumer finances as a writer and editor at Kiplinger's Personal Finance magazine. Mary Beth became a certified financial planner in 2015 and is an in-demand speaker at conferences for financial professionals as well as a frequent guest on numerous radio and television programs. She is the author of “Maximizing Your Social Security Retirement Benefits” and host of the Retirement Repair Shop podcast. In her free time, Mary Beth likes to read, garden, ski and play the piano. She received a BA in Communications from American University in 1975 where she continues to mentor journalism students.

This week, David is joined by special guest Mary Beth Franklin. Share with a Friend

Hello, and welcome to the Retirement Reboot-cast. That's what I'm calling this special podcast series on my new book - Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track. The book was just published in January , so I invited some of my favorite experts on retirement to join me on the show to talk about some of its key ideas. I wrote Retirement Reboot with a very particular group of readers in mind: people getting close to retirement who are not financially prepared. In other words, people who have not been able to save much -or anything - for retirement. They're headed toward a retirement living only on Social Security, which typically replaces about 40% of their working income. Meanwhile, the rule of thumb is that most of us will need to replace at least 70% of our wage income when we retire.The book offers a series of strategies for improving on that math. The key chapters discuss the importance of making a plan, timing your retirement and how to get the most from Social Security and Medicare. But on this episode, let's talk about investing for retirement - even if you're getting a late start. The chapter of Retirement Reboot that addresses this topic walks through a simple approach to saving for retirement, focused on very-low-cost passive index funds. And, it illustrates that it's possible to accumulate a meaningful nest egg even if you're playing catch-up. That's because the goal line is not the day you retire - your investing and returns from it continue well into retirement. My guest is Christine Benz, director of personal finance at Morningstar, one of the premier companies for analysis and research on investing.I chatted with Christine about investing basics like the importance of diversification and balance and keeping fees low. We also get into a few of the more advanced topics, such as asset location and safe withdrawal strategies.Click on the player icon at the top of the newsletter to listen to the podcast. You can also find the program on Apple Podcasts or Spotify (search for “Retirement Revised”).Listen to the Rebootcast seriesNext week, I'll be airing the last episode in this limited-edition series about my new book, Retirement Reboot. I hope you've enjoyed all of these conversations with experts on key retirement topics, but in case you missed any of them, here are links to earlier episodes.* Introduction: An overview of the book featuring a conversation with Chris Farrell, senior economics contributor for Marketplace, the public radio program. Chris wrote the foreward to Retirement Reboot.* Let's Make a Plan. Far too many people don't take the time to make an actual financial plan for retirement – and that's a real misstep. If you don't have a plan, it's impossible to know whether you are on track to meet your goals. My guests are Steve Chen, the founder of New Retirement, and Steve Vernon, the well-known retirement educator and author.* Optimizing Social Security. For most of us, Social Security will be the most important retirement benefit – full stop. Decisions about when to claim can make a big difference in your lifetime income. For this episode, I invited two of the most knowledgeable people I know on the topic of Social Security claiming. Mary Beth Franklin is a contributing editor at Investment News magazine, specializing in Social Security, Medicare and Retirement income. Bill Reichenstein is a professor of investment management at Baylor University, a co-founder of Social Security Solutions – a company that has developed a terrific set of online software tools that help individuals and financial professionals sort through claiming decisions. He is the co-author of a book titled Social Security Strategies: How to Optimize Retirement Benefits. *  Navigating Medicare. Along with Social Security, there's nothing that will have a more important impact on your retirement security than making smart choices about navigating Medicare. Joining me are two top Medicare experts: Tricia Neuman, executive director of the Medicare program at the Kaiser Family Foundation, and Fred Riccardi, president of the Medicare Rights Center.Retirement Reboot in the newsI was a guest on the terrific Friends Talk Money podcast, which is hosted by Rich Eisenberg, Terry Savage and Pam Krueger. The video is below, or listen here. Rich also interviewed me about my six core ideas for improving your retirement outcome for his MarketWatch column. I also joined Chuck Jaffe on his Money Life radio show to talk about the book. Here's the episode, our conversation starts around the 17-minute mark. Or listen to it below:Checked your Social Security statement lately?If you have not yet claimed Social Security, and haven't downloaded your Social Security statement lately, this would be a good time to do it. The statements have been updated to reflect the historic 8.7% cost-of-living adjustment, so your projected benefit just got significantly larger. The new number should be plugged into whatever retirement planning software you (or your financial planner) are using.If you are 62 or older, your future benefit is adjusted to reflect the annual COLA. If you haven't set up your free online account with the Social Security Administration, go ahead and do that. This is where you can access your statement, claim benefits and transact other business with the SSA. What I'm readingThe art of asset location . . . Senior housing that seniors actually like . . . An alternative, optimistic take on population decline . . .Politicians want to keep money out of ESG funds, but it might backfire . . . Did your health plan rip off Medicare? This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

Welcome to the third edition of the Retirement Rebootcast! This is a special limited-edition podcast series focused on my new book - Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track. The book is out this month, so I invited some of my favorite experts on retirement to join me on the program to talk about some of its key ideas. I wrote Retirement Reboot with a very particular group of readers in mind: people getting close to retirement who are not financially prepared. In other words, people who have not been able to save much -or anything - for retirement. They're headed toward a retirement living only on Social Security, which typically replaces about 40% of their working income. Meanwhile, the rule of thumb is that most of us will need to replace at least 70% of our wage income when we retire.The book offers a series of strategies for improving on that math. The key chapters discuss the importance of making a plan, timing your retirement and how to get the most from Social Security and Medicare. I also discuss strategies for building savings, even late in the game, and tapping home equity. From there, I go on to discuss managing your career late in the game, the value of professional advice, how to manage long-term care risk and how to approach the idea of aging in place. For this third episode of the series, let's have a conversation about how to get the most from Social Security. For most of us, Social Security will be the most important retirement benefit - full stop. Decisions about when to claim can make a big difference in your lifetime income. Especially for couples, there can be some interesting choices. Making smart choices has never been more important, especially because Social Security benefits are less generous than in the past. The gradual increases in the full retirement age put in motion by the reforms of 1983 are close to being fully phased in - and that effectively raises the bar on what it takes to generate income from the program.For this episode, I invited two of the most knowledgeable people I know on the topic of Social Security claiming.Mary Beth Franklin is a contributing editor at Investment News magazine, specializing in Social Security, Medicare and Retirement income. She's been a financial journalist for more than 40 years, covering everything from federal budget and tax policies as a Capitol Hill reporter to consumer finances at Kiplinger's Personal Finance magazine. One unusual twist for Mary Beth as a journalist - in 2015, she became a Certified Financial Planner in 2015. She is the author of “Maximizing Your Social Security Retirement Benefits.” William Reichenstein is a professor of investment management at Baylor University, a co-founder of Social Security Solutions - a company that has developed a terrific set of online software tools that help individuals and financial professionals sort through claiming decisions. He is the co-author of a book titled Social Security Strategies: How to Optimize Retirement Benefits. Along with claiming strategies, I asked Mary Beth and Bill to talk about Social Security's financial challenges and public worries about the program's future. We also talked about how Social Security might change in the years ahead.Click the player icon at the top of the newsletter to listen to the podcast - or find it on Apple Podcasts or Spotify (search for “Retirement Revised”).The Retirement Rebootcast will have six episodes. Next week we'll take a deep dive into navigating Medicare. My guests will be Tricia Neuman of the Kaiser Family Foundation, and Fred Riccardi of the Medicare Rights Center. Retirement Reboot in the newsIn a new essay for Newsweek, I explain the possible cuts facing Social Security - and why we need to move in the opposite direction by expanding the program and shoring up its finances. This is adapted from the chapter of Retirement Reboot titled “Toward a New Social Insurance Era.” I also spoke with Kerry Hannon of Yahoo! Finance about the need to make Social Security bigger - not smaller - to improve retirement security.Join me for an interactive workshop on retirement planningI'll be discussing Retirement during an interactive, online workshop on January 24th. I hope you'll join me!The 90-minute workshop, hosted by Bookends University, will offer practical strategies for improving your retirement prospects, even if your savings are meager and retirement is looming! It will draw from material in Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track.We'll walk through core decisions to make now to improve retirement outcomes, including* Timing Your Retirement* Optimizing Social Security* Navigating Medicare* Tapping Home Equity* Building Savings* Financing long-term care needsTuition for the event is $45, which includes a copy of Retirement Reboot. Bookends University is sponsored by Bookends & Beginnings, my favorite independent bookstore. You can pick up your copy at the store if you're local, or have it mailed to you.  This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

Show Notes:Blog Post from Ryan Detrick -https://www.carsongroup.com/insights/blog/the-midterm-election-is-two-months-away-what-investors-need-to-know/Blog Post by Ben Carlson - https://awealthofcommonsense.com/2022/08/bens-4-common-sense-rules-of-investing/Twitter post by Danielle DiMartino -https://twitter.com/chigrl/status/1570493792029114369?s=11&t=eqysuned5S6JawIxc6HsIQTwitter post by Rennie Yang -https://twitter.com/markettells/status/1570072211880554498?s=11&t=NVK1lwLsUYTvXGZ5-skeKQArticle from Mary Beth Franklin -https://www.investmentnews.com/two-ways-to-reverse-a-social-security-claiming-decision-225058

This week David is joined by Mary Beth Franklin. Share with a Friend

Whether you're currently a senior citizen or hope to live long enough to become one some day, funding our elder years is becoming a bigger & bigger challenge. For many if not most Americans, Social Security will serve as the bedrock foundation for the income they can expect to receive later in life. But how does that program work exactly? What are the pitfalls and the best practices we should be aware of in deciding when and how to enroll in it? And for those currently not yet seniors, will there even be a Social Security program to rely on by the time we are? To provide answer to these and many more of the surprisingly tricky questions around Social Security, we're fortunate to speak with certified financial planner Mary Beth Franklin – author of the book ““Maximizing Your Social Security Retirement Benefits” https://youtu.be/20cekIUgTsk

What role does Social Security play in a retirement income plan? In today's episode of Carson Group and PIMCO's Retirement Income Series, business journalist, CFP and Social Security expert Mary Beth Franklin provides a history lesson on the pivotal Social Security policy that saved the program in 1983. She talks about where we are today in terms of funding and what the American public needs to know about what is, for many, the only form of guaranteed income for life. You can find show notes and other information at CarsonGroup.com/Framework. Carson Group is committed to advancing financial literacy. Our coaches work with thousands of FPA members. Schedule a consultation to learn how Carson can help you help your clients and grow your business.Investment products contain risk and may lose value. There is no guarantee that an investment product will be successful in achieving its objectives. Investors should consult their investment professional prior to making an investment decision.This podcast is brought to you by Carson Group and PIMCO, who are unaffiliated entities. This material contains the opinions of the speakers and not necessarily of Carson Group or PIMCO and such opinions are subject to change without notice. This podcast may include discussions of investment strategies. These discussions are for illustrative purposes only and may not be appropriate for all investors. The discussions are not based on any particularized financial situation, or need, and are not intended to be, and should not be construed as, a forecast, research, investment advice or a recommendation for any specific PIMCO or other strategy, product or service. Individuals should consult with their own financial advisors to determine the most appropriate allocations for their financial situation, including their investment objectives, time frame, risk tolerance, savings and other investments. Pimco does not provide legal or tax advice.  Further, this seminar is not intended to provide specific legal, tax, or other professional advice in this podcast. For a comprehensive review of your personal situation, always consult with a tax or legal advisor. The discussion herein is general in nature and is provided for informational purposes only. There is no guarantee as to its accuracy or completeness.  Any tax statements contained herein are not intended or written to be used, and cannot be relied upon or used for the purpose of avoiding penalties imposed by the Internal Revenue Service or state and local tax authorities. Individuals should consult their own legal and tax counsel as to matters discussed herein and before entering into any estate planning, trust, investment, retirement, or insurance arrangement. 

Mary Beth Franklin is a Social Security strategies and Medicare retirement speaker who is passionate about retirement income strategies.She has a long-time interest and expertise in retirement issues, Social Security, and taxes, with a background in the federal budget, international trade, and Capitol Hill as it affects personal finance.Mary Beth Franklin is the President of RetirePro and a Contributing Editor to InvestmentNews. She has served as a Senior Editor to Kiplinger's Personal Finance and a Syndicated Columnist for Maturity News Service/Third Age Media, using her background as a Capitol Hill reporter.

June 27, 2022 on ForYourBenefit, host Tammy Flanagan, Senior Benefits Director NITP, welcomes Mary Beth Franklin, Certified Financial Planner®, Contributing Editor for InvestmentNews, President of RetirePro, and foremost Social Security expert. Tammy and Mary Beth will explore the following important topics: What are the claiming strategies for Social Security that will maximize your retirement security? When does it make sense to claim Social Security at 62? When does it make sense to delay claiming Social Security? Can you still do-over your Social Security election or can you suspend your benefit payments? What is the difference between payroll taxes and the income taxes you may have to pay on your benefits? What are the “Social Security Trust Funds?” How is Social Security financed? Is Social Security going broke? What does the 2022 Social Security Trustees report mean when it states: The fund's reserves will become depleted and continuing tax income will be sufficient to pay 77 percent of scheduled benefits? What are the likely changes that lawmakers will make to reduce or eliminate the long-term financing shortfalls in Social Security and Medicare? What is the purpose of the Social Security cost-of-living adjustment? Inflation is at near record highs; will the COLA keep up with inflation? If I delay Social Security past age 62, will I miss out on the COLAs? For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

Show Notes1. Blog post from Jeff Hirsch -https://jeffhirsch.tumblr.com/post/686348118572351488/remember-junes-midterm-weakness2. Tweet by Jeroen Blokland -https://twitter.com/jsblokland/status/15323706192993402883. Article in CNBC -https://www.cnbc.com/2022/06/08/mortgage-demand-falls-to-the-lowest-level-in-22-years.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Mail4. Tweet by John Authers -https://twitter.com/johnauthers/status/1535270669872668674?s=20&t=vPooiorhTeKR-js9LF5BFg5. Article in Investment News by Mary Beth Franklin -https://www.investmentnews.com/social-security-report-projects-trust-fund-exhaustion-in-2035-222279Social Media: Facebook/Linkedin: @JessupWealthManagementTwitter/Instagram: @JessupWealth

Did you know that half of women don't have personal retirement savings, according to the U.S. Census? If that's you — whether you are 25 or 55 — it's never too late to find your financial footing. Even if you are contributing to an individual or workplace retirement plan, you don't want to miss this knowledge-packed episode for financial literacy month. Mary Beth Franklin, an award-winning and veteran financial journalist who specializes in retirement income, reminisces about her 40+ years in journalism, starting as a congressional cub reporter for United Press International before distinguishing herself at Kiplinger's Personal Finance, among other publications. During this time, she also became a wife and mother. Most inspiring, Franklin became a certified financial planner (CFP) late in her career, presenting to the CFP Board that her professional experience as a journalist was enough to meet the organization's practical experience requirement. This episode kicks off Financial Literacy Month by emphasizing Franklin's prolific career and pivots while providing solid retirement information for all women — whether you are a homemaker, a solopreneur, or a CEO. Take a moment to jot down notes to ensure you are protected as best as possible when you retire. You are the one responsible for understanding your financial destiny, but there's help and resources galore.   Tune in to hear Franklin tell all in this SheVentures exclusive! 1:36 Franklin shares the opportunities and pivots she took in her career 12:06 What challenges does Franklin see arising as tech plays a central role in journalism? 22:43 Franklin delves into her view of the retirement gap and women 24:33 How she educates people on the optimization of Social Security benefits 25:46 Franklin defines how Social Security is calculated for you or as a divorced or surviving spouse 32:02 Franklin lists effective ways to contribute to retirement 41:24 Why Franklin thinks it's essential for stay-at-home moms to plan for — and understand — their retirement 45:14 Actions women can take to improve their financial future

Dan White's Radio Show: On The Money Dan White keeps listeners in the Philadelphia and Delaware Region up-to-date with the most pressing financial issues. With over 35 years of professional financial planning experience, Dan has a talent of explaining the complex issues in his weekly show. www.DanWhiteandAssociates.com (888)690-8820 dan@danwhiteandassociates.com ________________________________________________________ Mary Beth Franklin, CFP, InvestmentNews Contributing Editor and foremost Social Security expert provides up-to-date information on Social Security claiming strategies that could save you and your clients lots of money. She has been a financial journalist for more than 40 years, covering everything from federal budget and tax policies to consumer finances as a writer and editor at Kiplinger's Personal Finance magazine. Formerly a Capitol Hill reporter at United Press International and retirement and tax editor at Kiplinger Personal Finance, Mary Beth has been working in the finance industry for years. She frequently speaks and writes about current research on retirement income planning, and enjoys educating people on retirement, tax and Social Security issues. Mary Beth became a Certified Financial Planner in 2015 and is an in-demand speaker at conferences for financial professionals as well as a frequent guest on numerous radio and television programs. She is the author of “Maximizing Your Social Security Retirement Benefits” and host of the Retirement Repair Shop podcast. In her free time, Mary Beth likes to read, garden, ski and play the piano. She received a BA in Communications from American University in 1975 where she continues to mentor journalism students.

Dan White's Radio Show: On The Money Dan White keeps listeners in the Philadelphia and Delaware Region up-to-date with the most pressing financial issues. With over 35 years of professional financial planning experience, Dan has a talent of explaining the complex issues in his weekly show. www.DanWhiteandAssociates.com (888)690-8820 dan@danwhiteandassociates.com

Mary Beth Franklin is a Certified Financial Planner, financial journalist, podcaster, and author of the book “Maximizing Social Security Retirement Benefits” - joining Clark to discuss when best to claim benefits, the solvency of the program and what younger workers can expect from Social Security in the future.  Investmentnews.com-MaryBethFranklin / Maximizing Social Security Retirement Benefits - eBook Learn more about your ad choices. Visit megaphone.fm/adchoices

November 29, 2021 on ForYourBenefit, our hosts Bob Leins, CPA®, and Tammy Flanagan, Senior Benefits Director NITP, welcome Mary Beth Franklin, Certified Financial Planner®, Contributing Editor for InvestmentNews, and President of RetirePro. Tune in for relevant information about your Social Security retirement benefit. During the broadcast you will learn the answers to some of the big questions you may have about Social Security such as: How does the solvency of the Social Security Trust Fund impact your future? Learn about the 2022 numbers that are going to impact your Social Security benefits. Covid-19 and Social Security. Why 2020 is no longer “a bad year to turn 60”. Does Social Security pay retroactive benefits? When does it make sense to delay claiming Social Security benefits? When can Social Security benefits be suspended? Why is it important to have a MySocial Security account? The new and improved Social Security benefits statement. Are Social Security benefits subject to income tax? Who is eligible to receive Social Security benefits based on my work record? For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

Mary Beth Franklin Shares Social Security Secrets   Welcome to episode #4 of Social Security: Answers From The Experts with Martha Shedden. In this exciting episode Martha sits down with Mary Beth Franklin and they discuss many important topics related to Social Security claiming decisions that all retirees will face. Mary Beth Franklin is a CFP and a retirement speaker and author who writes about the latest research and thought leadership on retirement income planning. She is a Contributing Editor at Investment News specializing in Social Security, Medicare and Retirement income. She has been a financial journalist for more than 40 years, covering everything from federal budget and tax policies as a Capitol Hill reporter for United Press International to consumer finances as a writer and editor at Kiplinger's Personal Finance magazine. She is the author of “Maximizing Your Social Security Retirement Benefits” and host of the Retirement Repair Shop podcast.   Here is what to expect on this week's show: ●    Why Mary decided to go into Journalism, and how she picked writing about Social Security and retirement issues. ●    The common regrets that people have about their Social Security decisions, a topic that Mary has written about. ●    Important information about when to claim and the importance of waiting as long as possible to claim so that your monthly check can be as large as possible. ●    Information about suspending one's benefits, how to do that, who this would benefit, and what this process entails. ●    Current trends in the age and manner that people and couples are claiming their benefits. ●    How the pandemic has affected Social Security claiming trends, and what the future may look like. ●    What changes would Mary make to Social Security if she was in control of it. ●    A few important takeaways for people to think about if they are approaching retirement age. Links mentions:   Investmentnews.com maximizingsocialsecuritybenefits.com Connect with Mary: Twitter: https://twitter.com/MBFretirepro LinkedIn: https://www.linkedin.com/in/mary-beth-franklin-ab7a9a3/ Facebook: https://www.facebook.com/mary.b.franklin.9   Learn more about your ad choices. Visit megaphone.fm/adchoices

Do you wish that you could have a mulligan when it comes to taking your Social Security benefit? Once you file for Social Security, it seems like your decision is set in stone. But what if I told you that you have options to reverse your decision?  In this episode of Retirement Starts Today, we'll explore an Investment News article written by one of my favorite Investment News contributors, Mary Beth Franklin. This article provides options for those who have remorse about the timing of their Social Security claim. In the listener questions segment, we'll discuss Jerry's question about his health insurance premiums under the Affordable Care Act and how they are affected by the 8.5% rule. This episode is jam-packed with helpful retirement information, so press play now to continue your retirement education. Outline of This Episode [3:02] 3 Social Security do-over options [8:25] Check out the Retirement Repair Shop podcast [9:24] Jerry's ACA insurance premium questions [13:50] Clarification on the ACA 8.5% rule  There are 3 ways that you could reverse your Social Security timing Have you found yourself regretting the timing of your Social Security benefits claim? Maybe you wish that you had waited longer to receive a larger benefit or maybe your retirement timeline has changed based on the pandemic or other factors. If so, I have good news for you. There are 3 ways that you could reverse your decision.  There are many people that wish they could go back and change the timing of their Social Security claim, so if you are one of them make sure to listen to this episode to learn which choice might best fit your needs.  Withdraw your application You may not realize this, but you can withdraw your Social Security benefits application. Use form 521 to do so, but keep in mind that there's a catch.  You'll have to repay any earnings you or your dependents have received. Withdrawing your application can only be done once, but doing so will allow you to apply again later when your monthly check would be higher.  You'll also want to consider whether you are already enrolled in Medicare. If you withdraw your application, your Medicare premiums will no longer be automatically deducted from your Social Security benefit, so you'll have to find another way to pay.  Suspend your benefits If repaying your Social Security benefits isn't feasible, then you might want to consider suspending your benefits. This way you don't have to repay anything, however, keep in mind that not only will your benefits stop, but also this action will stop any benefits to a dependent family member. Your benefits would then start again at age 70. Listen in to discover why this may be a good strategy for married couples.  Request a lump sum payout Requesting a lump sum payout works only for individuals who have reached full retirement age. They can request a lump-sum payout of up to 6 months of retroactive benefits. This option would best be used by someone who has an urgent need for cash or for people who waited until after their full retirement age to claim either spousal or survivor benefits. After receiving a lump-sum payment, that person could then voluntarily suspend benefits and earn delayed retirement credits up to age 70 which would boost future monthly benefits.  Claiming Social Security seems like such a permanent decision so if life comes along and changes your plans it's good to know that you have these alternatives to consider.  Resources & People Mentioned November 2020 Medicare series with Danielle from Boomer Benefits Boomer Benefits Retirement Repair Shop podcast with Mary Beth Franklin 3 Social Security Do-Over Options article Retirement Answer Man podcast Stay Wealthy podcast Financial Symmetry podcast Market Watch article on the ACA subsidy cliff KFF.org - resources for the ACA and other health matters Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Income streams and social security benefits are important aspects of retirement, but it's important to also consider another critical factor: Medicare. Although Medicare is essential to numerous people across the U.S, it's a complicated subject with many levels to understand. In the long run, knowing the ins and outs of Medicare can help you better prepare for retirement. Mary Beth Franklin, a leading specialist on social security and Medicare and writer of a weekly column on retirement issues for Investment News, is back to explain Medicare in this week's episode. She also clarifies the difference between Medicare and Medicaid, Medicare enrollment, penalty payments, parts A, B, C, and D of Medicare, and health insurance wrinkles. Learn more about your ad choices. Visit megaphone.fm/adchoices

When planning for your retirement one of the most important decisions to make is when to claim Social Security benefits. Make the wrong decision and you can lock in a loss for the rest of your life. Make the right decision and you may help secure the lifestyle you desire. Today's very special guest is Mary Beth Franklin, author of “Maximizing Social Security Retirement Benefits”. A nationally known speaker, Mary Beth shares her vast knowledge and helps people navigate through the social security maze to find the right income solutions with clear and simple advice. Like what you've heard… Learn more about HFM https://hfmadvisors.com/working-with-hfm (HERE) Schedule time to speak with us https://calendly.com/hfminquirycall/360 (HERE) Open an HFM Ignite account https://hfmadvisors.com/ignite (HERE)

Episode 200! I can't believe I've made it to this landmark episode. Thank you all for joining me on this journey and I hope you'll join me for the next 200. I enjoy looking back and reminiscing on previous episodes, but I don't have to go too far back to find my most recent favorite. Episode 199 is one of my most recent favorites. In it, I interviewed world-renowned Disney expert, Lou Mongello, to discuss multigenerational Disney trips. Check it out if taking the grandkids to Disney is on your bucket list.  In this episode, we're covering two retirement headlines. The first is from Investment News and it describes how some leading retirement experts question whether advisors should rethink their assumptions about retirement spending when creating financial plans. The 2nd retirement headline is from HumbleDollar.com titled Secret Sauce. This article describes the aspects of work that we want to hang onto, those that we might not, and it outlines six steps to design a successful and ideal retirement. Outline of This Episode [2:22] How we should rethink our assumptions about retirement spending [9:30] How to plan your retirement withdrawal rate [11:20] To have a successful retirement, you need to have an understanding of work People in retirement live differently Mary Beth Franklin recently wrote an article for Investment News about retirement spending. She sourced a study completed by the Employee Benefit Research Institute (EBRI) which analyzed the spending of 2000 retirees. The study found diversity in the way people live in retirement based on financial status, retirement goals, demographics, and spending habits. Mary Beth's article focuses on the results for those that were classified as affluent and comfortable retirees. Not many affluent retirees plan to spend their savings In the article, affluent retirees were defined as those with financial assets exceeding $320,000 and an annual income of $100,000 or more. Most of them were also mortgage-free with zero debt. Their most common sources of income were defined as employer benefit plans, Social Security, and personal savings. They reported that they feel they have saved enough for retirement and only 1 in 3 plans to spend all or a significant portion of their savings.  Comfortable retirees may spend only a small portion of their assets Comfortable retirees had mid-levels of financial assets between $99,000 and $320,000 and an annual retirement income of less than $100,000 a year. Many still had a mortgage and other debts. Most of these people cited workplace retirement savings and Social Security as their major sources of income. Almost 75% of these comfortable retirees said that their retirement savings are sufficient or more than meet their needs, however, more than half of them plan to grow, maintain, or spend only a small portion of their assets.  Why are affluent and comfortable retirees hesitant to spend their retirement savings? The study found that the Baby Boomer generation wishes to retain assets rather than spending them down. So the question is, why don't these retirees wish to spend their retirement savings? This may be due to the fact that their Social Security income or pension provides enough to meet their expenses, but it could also be due to an inability to switch gears from accumulation to decumulation. Another reason may be that many retirees don't know how to determine a sustainable withdrawal rate that considers future uncertainties, and this lack of knowledge makes them wary to spend their nest eggs.  I think the key to confidently spending and living off your savings is to understand how much it costs for you to live for a year in retirement. Listen in to hear how you can learn how to calculate your spending so that you can determine your sustainable withdrawal rate in retirement.  Resources & People Mentioned Retirement Repair Shop with Mary Beth Franklin Investment News article Secret Sauce from HumbleDollar.com Employee Benefit Research Institute study Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Are you an advisor looking to better serve your clients around their Social Security and Medicare needs? If so, this week's episode of The Breakthrough Advisor with Social Security expert Mary Beth Franklin is for you! Join today's conversation and learn valuable tips and tricks to enhance your clients' Social Security and Medicare planning. Master … Continue reading 21. Social Security & Medicare Summed Up In 35 Minutes with Mary Beth Franklin, CFP® →

In this episode, Michael speaks with Mary Beth Franklin, CFP, a nationally recognized Social Security guru! Michael and Mary discuss the pitfalls that so many people make when planning for Social Security. Listen now as Mary and Mike dispel myths about social security, and talk about topics from her new book. Topics Covered: Mary's career, How Mary got started, How to prepare for your social security, when to take social security, Mary's new book - Maximizing Social Security Retirement Benefits, and much much more! Book Links https://www.investmentnews.com/store/product/maximizing-social-security-retirement-benefits/ About Mary Beth Franklin, CFP: Mary Beth became a Certified Financial Planner in 2015 and is a sought-after speaker. Mary has also been featured in numerous radio and television programs. She is the author of “Maximizing Your Social Security Retirement Benefits” and host of the Retirement Repair Shop podcast. Mary Beth Franklin is a Contributing Editor for Investment News specializing in Social Security, Medicare, and Retirement Income. She has been a financial journalist for over 40 years, covering everything from the federal budget and tax policies as a Capitol Hill reporter for United Press International to consumer finances as a writer and editor at Kiplinger's Personal Finance magazine. About Michael Foguth: Michael Foguth takes pride in guiding his clients through the demanding retirement planning process with customized plans molded to withstand whatever the future holds. Raised in Mid-Michigan by his parents, Michael and Marie, he was taught that family and faith are the foundation of a successful life. Michael and his wife, Brooke, along with their six children, support that belief with their continuous involvement in their community and faith. Family is what drives Michael to continue his passion for retirement planning. Michael has made it his mission to educate and teach others what they can do to ensure that their retirement plans turn into reality. About Foguth Financial: Foguth Financial Group was established in 2009 by Michael Foguth, with the mission to remove barriers to maximize retirement dollars and reduce the financial pressures of those nearing or in retirement. Michael started with in-home client appointments, before opening our first office in 2011 in Howell, Michigan. In 2016, after many years of rapid client growth, Foguth Financial Group moved to its current headquarters in Brighton, Michigan. Since then, Michael has been able to expand his staff to include five advisors and 15 additional full-time staff members. In 2019, Foguth Financial Group opened its first satellite office in Northville, Michigan. From simple beginnings, Foguth Financial Group has expanded to meet the needs of its clientele and today Michael and his team are dedicated to educating their clients so they can make informed financial decisions. --- Send in a voice message: https://anchor.fm/foguth-financial/message

In this episode, Jack Sharry talks with Mary Beth Franklin, a columnist and contributing editor at Investment News, specializing in social security, medicare, and retirement income.  We're living in a time where traditional retirement rules no longer apply, in part because of COVID-19's dramatic impact on money in motion. As a result, helping clients navigate retirement is more complex than ever before. Having spent her career covering retirement from all angles – from policies on Capitol Hill to life inside private firms – Mary Beth has a unique understanding of where we've been and, more importantly, what retirement now calls for. Given her unique expertise on all things social security, Mary Beth emphasizes the importance of software in achieving increased personalization and how advisors can help clients answer the ultimate retirement question – what's the optimal sequence for withdrawing retirement income?  Mary Beth and Jack discuss what a changing landscape means for both client and advisor, how COVID-19 changed the financial industry for the better, and what most people miss when planning for retirement.  “People grew up with a couple myths: that you're going to put as much money as possible into your qualified retirement plans to lower today's taxes and your taxes were going to go down in retirement. Well, that may not be true going forward. And advisors and software providers need to understand that this is a very fluid situation and the best thing they can do is stay on top of these changing environments and pivot where they can and help their clients make the best decision for them.” ~ Mary Beth Franklin Main takeaways  When creating retirement plans for clients, advisors will benefit from software that helps fill in the gaps of thousands of complex retirement rules that no single advisor could memorize. And while many creative claim strategies have disappeared, social security is still a critical piece of the retirement puzzle.  The right software should be easy to use and seamlessly integrate into an advisor's existing financial planning software.  Changes in money in motion are heading in all different directions. It is not one consistent trend. So advisors need software and other tools geared towards personalization.  Many people need advice outside of the advice that their workplace is providing. Advisors should approach clients with a transparency-first approach to gain trust.  The pandemic forced the financial industry to embrace software and also spotlighted holes in everyone's retirement safety net. As a result, we've seen an increase in broader financial wellness – financial planning outside of just health benefits and a 401k.  Links Mary Beth on LinkedIn Investment News Maximizing Your Social Security Benefits by Mary Beth Franklin Franklin Templeton Kiplinger's Personal Finance North American wealth management: Money in motion, but not always to the bottom line Empower Personal Capital Edelman Financial Engines Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

 0:30-7:30 - Wells Fargo lays off advisers - what's going on?7:30-29:30 - Mary Beth Franklin interview7:30-11:30 - The latest outlook for filling the trust fund gap11:30 -15:10 - The opportunity for converting to or contributing to a Roth in the current tax environment15:10 - 18:00 - The inevitability of a solution vs. the ongoing political impasse18:00-22:15 - The varying projections about when the trust fund might run out, and how it should or should not affect individuals' retirement decisions22:15-27:15 - What's missing at the top of the funnel in contributions to Social Security27:15-29:00 - The role advisors can playhttps://www.investmentnews.com/social-security-cuts-retirement-198279https://www.investmentnews.com/wells-fargo-adviser-job-cuts-198144

1:15-21:00 - Interview with Mary Beth Franklin about Social Security21:15-29:30 - Discussion on Wells Fargo's clamping down on dinners29:40-43:00 - Interview with Liz Skinner about Diversity and InclusionMary Beth Franklin is one of the country's leading experts on Social Security and Medicare. An award-winning journalist and Certified Financial Planner, Mary Beth writes a weekly column on retirement issues for Investment News and is author of the ebook, Maximizing Your Social Security Retirement Benefits.Relevant Articles:https://www.investmentnews.com/wells-fargo-advisors-limits-dining-clients-covid-196924https://www.investmentnews.com/building-better-asset-management-requires-women-minorities-196923https://www.investmentnews.com/diversity-inclusion-success-focus-inclusion-196965https://www.investmentnews.com/impact-raising-social-security-taxable-wage-base-196953