Dolphin Financial Radio

You've saved your entire life, working from a young age, and finally retire. You seem to have enough in savings to carry you through retirement, but something isn't right. You've hit a roadblock and simply can't get comfortable financially. In this show we discuss a very common challenge faced by those who saved a lot for retirement.

The Health Savings Account (HSA) is the most underrated financial option available for retirement savers. In this show we review what an HSA is and why opening and funding one should be your top priority.

Many people believe they don't have enough money to retire. If that's true, then what do you do? Do you really have to work until you die? In this show we talk about the options you have if you find yourself short on retirement funds. Be proactive and make retirement a reality - listen to this show if you think you'll have to work until you die!

Sometimes the best financial move is wait to claim Social Security. In this show we go over the scenarios and situations where delaying claiming your Social Security benefit makes financial sense. Should you delay your Social Security?

Sometimes the best financial move is to claim Social Security as soon as possible. It often makes sense to delay Social Security, but in this show we go over the scenarios and situations where claiming at 62 or as early as possible makes financial sense. Should you claim Social Security ASAP?

Should you invest in the stock market when you are close to retirement? Why bother with risky assets when you can get fixed rates that are higher than they've been in a long while? In this show we discuss the idea of eliminating stock market risk when you retire.

Should you pay off your mortgage before retiring? Maybe. For many, being debt free in retirement is the ultimate goal. However, carrying a mortgage into retirement isn't necessarily a bad thing. In this show we discuss the idea of maintaining a mortgage during retirement and why, for some people, keeping the mortgage makes financial sense.

A successful retirement is about increasing income and decreasing stress. In this show we identify the common trait seen in those who are experiencing a successful retirement. Focus on this, and your odds of success will go up!

Social Security is taxable for some people. If that is the case, how do you go about paying those taxes? In this show we show you exactly what form to complete in order to have the IRS withhold taxes from your Social Security benefit. We also talk about how taxes play a major role in when you claim Social Security.

Not all income is treated equally by the IRS. Capital gains, particularly Long-Term gains, are taxed more favorably in many cases. In this show we discuss scenarios in which capital gains are taxed at 0%. Retirees in particular will want to learn this tax strategy.

Does Social Security pay out a lump sum death benefit? Yes, they do. In this show we talk about how much the benefit is, who gets it, and the history behind this one-time payment from SSA.

There is a way to file your taxes online, using software, for free. Through the IRS Free File program, you can complete an online tax return using software that guides you step-by step at no cost. In this show we show you how and explain the qualifications for the free version.

Social Security is running out of money and will struggle to keep paying 100% of the benefits by roughly 2033. Raising the full retirement age up from 67 is one solution to this financial problem. The question is, will U.S. citizens stand for this benefit cut? Will Americans take to the streets as in France in early 2023, where a similar pension age increase is being debated?

When considering retirement, one of the first questions you must ask is - how long will I be retired? In this show we discuss the research on retirement length and changes since the 1960s through 2050!

Did poor performance crush 401k plans in 2022? How did the average investor hold up? What sort of adjustments were made and are retirement plans now off track?

Early retirement is a goal for many people. However, some interesting research has come out suggesting that it may actually be harmful to your mental health. In this show we discuss why you may want to reconsider retiring early until you have a plan to deal with this potential problem.

Do you understand how retirement income is taxed? How do taxes impact Social Security income, Roth conversions, capital gains, and Medicare premiums? In this show we discuss four key tax concepts that every retiree should understand.

Do you really need to know where your retirement is heading in order to have a comfortable retirement? In this show we talk about how planning out your finances in retirement is so much easier if you have a clear grasp on where you are trying to go or what you are trying to accomplish.

Do you take advice from a former professional NFL player? In this show we watch and comment on an interview with Chad Ochocinco, a former wide receiver. His commentary about financial matters is profound and something everyone might benefit from hearing.

How long will you live? That's the really tough question that those planning retirement need to address. In this show we discuss why this is not only difficult to answer, but also extremely important to try to answer.

The rule of thumb that you should reduce your risk exposure as you get older may be wrong. In this show, we discuss why the opposite may be true. As you age, a larger percentage of your assets may be exposed to a higher level of risk. This may actually be the result of a sound financial strategy.

The age at which Required Minimum Distributions (RMDs) must begin has been raised again. This time the age has been increased from 72 to 73 and eventually to age 75. In this show we detail the rule changes, including the penalties associated with missing this important financial requirement.

The 8.7% cost of living increase in Social Security for 2023 was the highest seen in decades. Yet, is it enough? According to the Senior Citizens League it isn't enough. In this show we talk about inflation and whether or not Social Security increases are enough to cover real life living expenses.

A Lady Bird Deed, also known as an enhanced life estate, is a legal document you can use to pass your real estate asset to beneficiaries after your death. The Lady Bird deed is an option in a select few states, including Florida, and may be a simple and effective way to avoid probate or the need for the creation of a trust. Listen in as we explore this unique enhanced planning tool.

How much does your housing costs impact when you can retire? Those living in more expensive areas are theoretically earning more income. Does that allow them to retire sooner? In this show we discuss the research about how housing relates to income, social security timing, and willingness to move for retirement.