A commissioned study highlights a retirement crisis for baby boomers set to retire between 2024 and 2030. Two-thirds of this group struggle to maintain their current lifestyles post-retirement, with many possessing assets of $250,000 or less. The study reveals the need for careful planning and consideration of inflation and taxes. It emphasizes the importance of having a team or plan in place and working with a fiduciary advisor. The conversation also touches on the benefits of fixed indexed annuities and the importance of consolidating scattered 401(k) accounts.

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Financial health is closely tied to physical and mental health. Money is an emotional topic that can impact overall well-being. Financial literacy is crucial for making informed decisions. Establishing trust and effective communication with a financial advisor is important. Financial stress can manifest in various physical and mental health issues. Financial fitness is measured by factors such as living within means, managing debt, and having an emergency fund. Annuities can provide income stability and help cover long-term care expenses. Tax planning is essential in retirement to avoid unexpected tax liabilities. The conversation concludes with a discussion on the state of Social Security and the need for comprehensive financial planning in light of uncertain economic and political circumstances. Visit My Iron Plan to learn more. Call (888) 532-0503.

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In this conversation, Mal Mason and Chae Kyle discuss the most searched financial planning questions and provide answers. They explain the role of a financial advisor in helping individuals create and grow their wealth to achieve financial independence. They emphasize the importance of having a comprehensive financial plan and utilizing various financial tools. The conversation also covers the benefits of working with an independent fiduciary advisor who is legally obligated to act in the best interest of the client. They highlight the significance of building a strong relationship with clients and understanding their financial goals and concerns. Visit My Iron Plan to learn more. Call (888) 532-0503.

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