How to make money last in retirement

March 18 2025

S2E4: Retire Wealthier: Expert Tips on Social Security Timing, Taxes, and Investment Risk

Mark Fried Podcast 401(k) vs Roth IRA for retirement, Best annuities for retirement income, How to make money last in retirement, Investment strategies for retirees, Long-term healthcare costs in retirement, Maximizing Social Security benefits, Protecting retirement savings from inflation, Retirement financial planning tips, Retirement income strategies, tax-efficient retirement planning

Are you approaching retirement and wondering how to make the most of your hard-earned savings? In this information-packed episode of the Road Rules for Retirement Show with Mark Fried, we dive deep into the crucial elements of building a secure and fulfilling retirement.

First, we unravel the complexities of Social Security, revealing why timing is everything when it comes to claiming your benefits. Discover how delaying your claim can significantly boost your monthly income and learn about the various claiming options available for single, married, divorced, and widowed individuals. We highlight the potential pitfalls of making uninformed decisions and stress the importance of seeking professional advice to navigate these choices effectively. Learn about the power of delaying your claim, potentially increasing your payments by over 30% by waiting until age 70. For married couples, we explore the strategic advantages of coordinating your claims to maximize your combined benefits. We also tackle the often-overlooked topic of taxes on Social Security benefits and why understanding this is vital for your overall retirement income plan.

Next, we shift our focus to controlling your retirement tax burden. Gain valuable insights into tax-efficient withdrawal strategies, including the optimal order for accessing different retirement account types to minimize your tax liability. We emphasize the importance of knowing your retirement number and provide guidance on estimating your future spending needs, suggesting the proactive step of living on a retirement budget before you retire.

In today’s climate of market uncertainty, we underscore the significance of diversification and a well-defined income strategy to maximize your retirement income while effectively minimizing risk. Finally, we provide a roadmap for transitioning smoothly into retirement, outlining key steps to take in the crucial five years leading up to this major life change, including detailed financial reviews and planning for both Social Security and Medicare.

Ultimately, this episode empowers you to take action now for a secure future. We consolidate the essential elements of a successful retirement plan, emphasizing the critical roles of optimizing your Social Security benefits, strategically managing taxes and investment risk, and recognizing the invaluable support of professional financial guidance. Don’t leave your retirement security to chance – tune in and learn the road rules for building your best retirement!

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Why Listen?
If you’re nearing retirement or already retired, this episode offers actionable advice to help you protect your savings, manage taxes, and ensure your money lasts. Tune in now and start building the retirement plan you deserve!

March 4 2025

S2E3: The Smart Retiree’s Playbook: Secure, Grow, & Enjoy Your Wealth

In this episode of The Road Rules for Retirement Show, host Mark Fried dives into essential strategies for securing financial stability in retirement. He highlights why longevity is one of the biggest risks retirees face and shares key tactics to ensure your money lasts as long as you do.

Mark explains how to maximize Social Security benefits, revealing strategies that could add over $100,000 to your lifetime income. He also breaks down the role of annuities in providing guaranteed income and discusses the importance of building a contingency fund to safeguard against financial uncertainties later in life.

For those looking to keep more of their hard-earned savings, Mark covers smart tax strategies for retirees, including the benefits of Roth IRAs and tax-efficient withdrawal methods. Additionally, he explores how to make the most of 401(k) contributions and employer-matched savings to grow your retirement wealth.

The episode also touches on inflation’s impact on retirement savings, healthcare costs and insurance considerations, and why it’s crucial to plan ahead for rising expenses. Finally, Mark stresses the value of working with a financial professional, ensuring that retirees have a solid plan in place to navigate their financial future with confidence.

Tune in now to learn how to build a secure, lasting retirement income strategy!

February 18 2025

S2E2: Beyond the Bank: Smarter Income Strategies for Retirees

In this episode of Road Rules for Retirement, Mark Fried dives into smart income strategies to help retirees secure their financial future. He breaks down why focusing on yield—rather than past returns—is key to stable income, explores higher-yield investment options beyond traditional bank products, and explains how rebalancing can protect against market downturns. Mark also discusses the risks of being too conservative, the benefits of delaying Social Security, and the role of annuities in a well-rounded retirement plan. Plus, he shares insights on tax-efficient withdrawals and why working with a financial professional can help retirees avoid costly mistakes. Tune in for actionable strategies to build a reliable, long-lasting retirement income!

February 4 2025

S2E1: Stretch Your Savings: Key Steps to Avoid Running Out of Money in Retirement

Mark Fried Podcast Diversification in retirement, Financial planning for retirees, How to make money last in retirement, Investment strategies for retirement, Managing retirement risk, Retirement income strategies, Retirement planning for high net worth individuals, Tactical investing for retirees, Tax diversification in retirement, Tax-efficient IRA withdrawals

Planning for retirement can feel overwhelming, but with the right guidance and strategies, you can secure a financially stable and fulfilling future. In the latest episode of the Road Rules for Retirement Show, host Mark Fried shares expert insights on how retirees can maximize their savings, manage risks, and create a reliable income stream. Here’s a breakdown of the key topics discussed in the episode:

Key Strategies for Maximizing Retirement Income

Your retirement savings should work for you. Learn effective strategies to generate steady income, including annuities, dividend investments, and real estate options.

How to Create a Diversified Investment Portfolio

Diversification is essential for minimizing risk while maintaining growth. We discuss the importance of balancing stocks, bonds, and alternative investments to protect your financial future.

Tips for Managing Retirement Expenses and Budgeting Effectively

Proper budgeting helps retirees maintain financial independence. We explore essential budgeting strategies, such as tracking expenses, cutting unnecessary costs, and preparing for unforeseen financial needs.

Understanding and Optimizing Social Security Benefits

Maximizing your Social Security benefits is crucial for long-term financial security. Learn when to claim benefits, how to increase your payout, and strategies to minimize taxation on Social Security income.

Tax-Efficient Withdrawal Strategies for Retirees

Smart tax planning can help retirees keep more of their money. We cover key strategies like Roth conversions, required minimum distributions (RMDs), and tax-free income sources.

The Importance of Healthcare Planning in Retirement

Healthcare costs can be a significant burden for retirees. Discover essential steps to manage medical expenses, including Medicare planning, long-term care insurance, and health savings accounts (HSAs).

Steps for Effective Estate Planning

Ensure your assets are protected and distributed according to your wishes. This section covers wills, trusts, power of attorney, and strategies to reduce estate taxes.

How to Protect Your Retirement Savings from Market Volatility

Market fluctuations can pose a risk to retirement savings. Learn how to safeguard your investments through diversification, safe withdrawal rates, and alternative income strategies.

The Value of Professional Financial Guidance

Navigating retirement alone can be daunting. We explore the benefits of working with a financial advisor to create a customized plan that aligns with your goals and lifestyle.

Final Thoughts

Retirement planning requires a proactive approach, and the strategies discussed in this episode can help you achieve financial peace of mind. Whether you are nearing retirement or already retired, these insights can guide you toward a secure and enjoyable future.

For more expert retirement advice, tune into the Road Rules for Retirement Show and start building the future you deserve!

October 22 2024

Episode 12: Transitioning from Accumulation to Distribution: Mastering Your Retirement Strategy

In this episode of The Road Rules for Retirement Show, host Mark Fried offers valuable insights into retirement planning, focusing on the critical transition from accumulation to distribution. Mark explains the difference between accumulation-focused advisors, who help grow savings, and retirement specialists, who ensure those savings last through retirement. He shares a real-life example of managing IRA withdrawals to avoid tax pitfalls, illustrating the importance of strategic planning.

Mark also delves into how diversification reduces risk, why it’s essential as retirement approaches, and common misconceptions about diversification and risk management. He introduces the concept of tactical investment strategies and highlights the importance of tax diversification in lowering tax burdens during retirement. Lastly, Mark discusses how to assess whether you’re taking on too much risk as you near retirement and provides actionable advice on developing a personalized retirement plan with professional guidance.

This episode is packed with practical tips and strategies to help retirees secure their financial future.