There’s a lot to consider when it comes to retirement and finances, so it’s key to make smart money decisions.
Michael Foguth, the president and founder of the Foguth Financial Group, appeared on Live In The D to share three retirement strategies.
Foguth started with the idea of tax smart withdrawal strategies. He explained that if retirees have higher taxable income it could also impact your Social Security and Medicare.
Next, Foguth talked about the impact of inflation on retirement withdrawal. He highlighted a need for retirement plans to account for inflation so that retires can keep up with the cost of living.
Finally, Foguth discussed strategies for claiming Social Security.
“The average married couple has 570 different ways to file for Social Security,” he said. “You have to have this Social Security plan tied into your portfolio plan so that everything is working together for you,” Foguth added.
Foguth Financial Group is hosting a retirement seminar at WDIV on April 16th. If you want to learn more about planning retirement, you can register for the seminar by clicking here.