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Are You Ready For Your RMD?

Air Date: Sep 10, 2016

In this week’s show, Andy and Bob talk with Denny Smith about the importance of having a strategy for spending in retirement.


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Family and money

Are you ready for your RMD?

Importance of the fiduciary standard

Small Social Security cost of living adjustment

In this week’s show, Andy and Bob talk with Denny Smith about the importance of having a strategy for spending in retirement, which is particularly important given that this year, the oldest of the baby boomer generation will turn 70 ½ and will need to start taking Required Minimum Distributions (RMDs).

Also in this week’s show:

  • In 2017, the Social Security cost of living adjustment (COLA) will be just $2.67 for the average recipient. This could spell disaster for those who haven’t carefully considered their expenses, so Andy and Bob discuss some of the most common unexpected expenses in retirement and how to plan for them.
  • Andy and Bob discuss how to talk with and manage expectations of adult children when it comes to borrowing and repaying money.
  • Andy and Bob talk with a listener about the importance of understanding how her advisor is being compensated and how critical it is that her advisor adhere to the fiduciary standard.

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