Joe Knows Retirement

How much money do you need to retire? In this episode of Joe Knows Retirement, Joe does a realistic breakdown of income sources in retirement and gives you an idea of the amount you could live off of if you have $1 million or more saved and a pension. He also shares other income planning considerations and strategies you can use to save money in taxes and give your money purpose in retirement. Are...

You can't take your money with you when you're gone, so how will you use it purposefully in retirement? In this episode of Joe Knows Retirement, Joe talks about the three things you can do with your money: spend it, give it, or gift it. He breaks down how you can find purpose in each one, and stresses the importance of completing an analysis to see just how much money you can use however you like....

Is it better to take the pension lump sum option or keep your monthly pension? In this episode of Joe Knows Retirement, Joe talks about the pros and cons of taking the lump sum versus keeping the monthly option. He considers different parts of a retirement plan like tax planning and legacy planning, and discusses practical considerations like which option is better based on your age. Are you inter...

Don't tip Uncle Sam in retirement! In this episode of Joe Knows Retirement, Joe talks about the different ways you might end up paying more in taxes than you need to in retirement if you have a pension and you don't plan properly. He also shares different strategies you can use like Roth conversions and Donor Advised Funds to help minimize your tax burden and not tip Uncle Sam. Are you interested...

Pensions are a great asset to have in retirement, but did you know they can have hidden costs? In this episode of Joe Knows Retirement, Joe talks about the overt and sometimes sneaky ways you can be kept from maximizing your pensions by different costs. From tax-related costs to costs dependent on whether you take the survivorship or lump sum options, he talks about it in this video. Are you inter...

In this special episode, Peak Retirement Planning founder and CEO Joe Schmitz leads a radio show with several co-hosts as they discuss current events. They share their thoughts on President Trump's recent State of the Union address, discuss the implementation of DOGE and the new tariffs, and talk about how taxes and retirement can be affected by these things. Are you interested in applying to rece...

If you're 55-62 years old, have a pension, and have at least $1 million saved, then retiring early could be an option for you. In this episode of Joe Knows Retirement, Joe shares the things you should consider if you're planning to retire early and you have a pension. He highlights the value of a pension, shares ways to save money in taxes, and discusses the pros and cons of taking different pensi...

The best savers are the worst spenders. In this episode of Joe Knows Retirement, Joe talks about how you can feel better about buying that boat or going on that trip in retirement if you have a pension and $1 million or more saved. He shares strategies you can use to maximize your pension and save money in taxes, and gives you permission to spend your money in retirement. Are you interested in app...

Roth conversions can be a great tool to help save money in retirement if you have a pension and $1 million or more saved. In this episode of Joe Knows Retirement, Joe talks about everything you need to know about Roth conversions if you have a pension. He provides information on which tax bracket you'll likely be in in retirement if you have a pension, and talks about factors you should think abou...

If your net worth is over $1 million and you have a pension worth $100k or more, you are in a great spot for retirement. In this episode of Joe Knows Retirement, Joe talks about all the things that can affect your retirement plan if you have a high-value pension and net worth. From saving money in taxes to giving your money purpose, he dives into the topic in this episode. Are you interested in ap...

Pensions are a helpful asset to have in retirement, but if you're single, there are certain things you need to plan for. In this episode of Joe Knows Retirement, Joe talks through the pros and cons of being single and retiring with a pension. Since being single will put you in higher tax brackets, he stresses the importance of doing tax planning now and working with a professional team to make sur...

It's recommended to work with a financial planning expert when planning your retirement, but if you know these things, you may not need to. In this episode of Joe Knows Retirement, Joe talks about the five areas you should be competent in if you plan on doing your retirement planning yourself. From tax planning to investment planning to healthcare planning, he shares how you can prepare if you cho...

When should you take social security if you have a pension? In this episode of Joe Knows Retirement, Joe shares the things you should consider before taking social security if you're retiring with a pension and $1 million or more saved. From your health to your marriage status to the dollar amount of your pension, there are many considerations that affect when it's best for you to take social secu...

Joe joins Mindy Drayer on the local radio station to help co-host the Sunday afternoon radio show. They talk about the success of Peak Retirement Planning, President Trump's return to work order, Brenz Pizza, Joe's new haircut, and so much more in this fun hour. Are you interested in applying to receive expert help in planning for your financial future? If so, you can apply at https://peakretireme...

If you're retiring with a pension and $1 million or more saved, you're in a unique situation. In this episode of Joe Knows Retirement, Joe shares three things you need to be aware of and plan for if you find yourself in this 2% of the population. From saving money in taxes to making sure your money has purpose in retirement, Joe talks about it in this episode. Are you interested in applying to rec...

In this video, Peak Retirement Planning founder and CEO Joe Schmitz share the story of how he got into financial planning and how he turned Peak Retirement Planning into the fast-growing firm it is today. Get to know Joe as he talks about the highs, the lows, and everything in between that got him to where he is today. Are you interested in applying to receive expert help in planning for your fina...

If you're in the 2% of people who have both a pension and at least $1 million saved, you might be more of a saver than a spender. That's why in this episode of Joe Knows Retirement, Joe talks about why you should actually spend more money in retirement. Whether you spend money on trips, home improvement, or health, or you give your money to your family or charities, Joe shares about how you can gi...

Pensions can be a helpful asset in retirement, but it's important to have a solid income plan to go with them. In this episode of Joe Knows Retirement, Joe talks about the different options you might have with your pension and how they can affect income planning. He also talks about other income streams like Social Security and investments and how a pension can affect them. Are you interested in a...

If you're retiring with a pension and $1 million or more saved, it's likely that you're a Midwestern Millionaire. In this episode of Joe Knows Retirement, Joe shares what a Midwestern Millionaire is and talks about how their pensions, savings, and spending habits put them in a unique spot in retirement. He also stresses the importance of working with a professional team to maximize your tax saving...

The 2025 market could perform differently than you think. In this episode of Joe Knows Retirement, Joe reviews Vanguard's 2025 market outlook and shares his thoughts on their projections. He emphasizes the importance of maintaining a long-term perspective with your investments, and shares why it could be helpful to work with a professional financial planning team when it comes to investing. Are yo...

Required Minimum Distributions (RMDs) apply to everyone, but they can be especially impactful for those with a high income in retirement like pensioners. In this episode of Joe Knows Retirement, Joe dives into what RMDs are, what impact they can have, and how a pension can make them particularly important to plan for. He also shares several strategies you can use to lower your RMDs and pay less in...

Are you a financial planning DIYer? In this episode of Joe Knows Retirement, Joe talks through seven questions to ask yourself to determine if working with a financial advisor is right for you. He talks about the unique help a financial advisor can provide and shares how doing it yourself might not lead to as much savings as you think. Are you interested in applying to receive expert help in plann...

Did you know less than 20% of people have a pension? In this episode of Joe Knows Retirement, Joe walks through the five pillars of retirement planning and explains how a pension can affect planning. From how much you pay in taxes to where you get your income in retirement, he discusses it in this episode. Are you interested in applying to receive expert help in planning for your financial future?...

Are you paying a financial advisor for sub-optimal planning? In this episode of Joe Knows Retirement, Joe talks through ten red flags to be on the lookout for when considering if a financial advisor is worth working with, from not utilizing a comprehensive approach to adding costs through vehicles like mutual funds. He also explains why it's so important for those who are retiring with at least $1...

Does it make sense to get an annuity if you already have a pension? Joe answers that question in this episode of Joe Knows Retirement, as well as discusses the different types of annuities and which ones could make sense for your financial situation. He also stresses the importance of working with a licensed fiduciary instead of a financial advisor who is really just acting as an insurance salespe...