Retiring Wrong

Talking Real Money - Investing Talk

Don McDonald

Business, Education, Investing, How To

4.2 • 680 Ratings

🗓️ 20 September 2023

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Choosing the right time to take Social Security can add hundreds of dollars every month. With Don away on family matters, Tom is joined by Paul Merriman to discuss money and investing. Listeners ask: Does his decision to take Social Security at FRA make sense? What do we think of Ken Fisher's investing philosophy? What will provide a high return without much risk? How should a 16 year-old invest accumulated savings? What's our opinion of a new Avantis balanced ETF? Does it make sense to convert an IRA to a Roth? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:29.2	Reality radio for a really great future.
0:36.6	We're talking real money. money hey thanks for being part of
0:40.6	talking real money here to make your financial matters a little easier easier to understand
0:45.7	less stressful kind of make some better decisions about your money moving forward i'm tom
0:51.5	cock don macdonald has the weekend off and today we're going to talk about a
0:56.4	number of things. Maybe you can get to a movie later. I don't do a lot of movie reviews. I did a
1:01.6	book review earlier this year, but not a lot of movie reviews. So maybe we'll get to that.
1:04.7	But, you know, I want to start with a topic that's near and dear to my heart because it's so
1:09.1	important. It seems like it doesn't get the attention
1:11.6	it deserves and people still make emotional decisions about it. And I'm talking about social
1:17.2	security. Now, okay, even if you're under 40, there's some good lessons here for you. And tragically,
1:26.0	just another survey came out that found that only 7% of a 7 wait until age 70 to claim Social Security.
1:36.1	Now, remember, every year you wait until after full retirement age, which for me is 67, you get an 8% of your raise plus inflation.
1:45.9	Pretty healthy raise.
1:47.1	And there's frankly, and I've been doing this for a long time, not that many people
1:51.3	that make 8% a year on their money.
1:54.0	Very, very, very few.
1:56.3	So people trigger Social Security earlier.
	...

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