The Long Game In Retirement

#16: Full Retirement Age Hit 67: Here's What That Actually Means For You

If you have been wondering what the Social Security trust fund headlines actually mean for your retirement, or whether the benefit you have been counting on will really be there, you are not alone. With full retirement age now officially reaching 67 for everyone born in 1960 or later, the questions around timing, claiming, and long-term planning are more relevant than ever. In this episode, Jaime Cowper, a financial advisor who works with pre-retirees and retirees every day, walks through the history behind this 43-year policy shift, what trust fund depletion actually means versus what the headlines suggest, and how to stress test your retirement income plan against multiple scenarios. If you are approaching retirement and want clarity, this one is for you. Chapters: (00:00) Introduction (01:05) How Full Retirement Age Got to 67 (02:19) What Full Retirement Age Means (03:01) Claiming at 62 vs. 67 vs. 70 (04:41) The Social Security Trust Fund Explained (06:04) What Congress Might Actually Do (07:14) Why Current Retirees Are Protected (08:00) Three Steps to Plan Around Uncertainty Comment below: are you planning to claim Social Security at 62, 67, or 70? To schedule a time to discuss your financial future visit https://www.unityfinancialadvisors.net/contact-us [https://www.unityfinancialadvisors.net/contact-us] or call (248) 885-8176 [(248) 885-8176] today! Connect with Jaime on Social Media LinkedIn: https://www.linkedin.com/in/jaimecowper [https://www.linkedin.com/in/jaimecowper] Instagram: https://www.instagram.com/jaime.cowper [https://www.instagram.com/jaime.cowper] Facebook: https://www.facebook.com/unityfinancial [https://www.facebook.com/unityfinancial] Investment advisory and financial planning services offered through Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting, and Education services offered through Unity Financial Advisors. Unity Financial Advisors is a separate and unaffiliated entity from Advisory Alpha. While tax and legal issues may be discussed in the general course of financial and investment planning, Advisory Alpha does not provide tax or legal services. Jaime Cowper is an investment advisor representative of Advisory Alpha, LLC, a SEC registered investment advisor. All opinions expressed by Jaime Cowper are solely her own opinions and do not reflect the opinions of Advisory Alpha, LLC, and as such, any and all statements of purported or observed general practices of non-affiliated firms and advisors; conditions of the broad financial services industry; or performance or returns with regards to products, securities, markets, or otherwise, whether or not advisor indicates they may be relying on third-party data or sources, are solely the opinions and/or interpretations of the advisor and are not intended to be offered as factual. The validity of these statements has not been verified, and as such, no representations of their validity are made. This recording is for informational purposes only and should not be relied upon for investment decisions. This material is not endorsed or approved by the Social Security Office or any other Government Agency. An Annuity is a long-term financial product designed largely for asset accumulation and retirement needs. All guarantees are backed by the claims-paying ability of the issuing insurance company.

#15: The Savings Lesson I Wish Someone Taught Me at 22 (Pass It to Your Kids)

In this episode, Jaime Cowper walks through a hypothetical side-by-side comparison showing how someone who saved $300 a month for just ten years starting at 22 ended up with more than someone who saved the same amount for 33 years starting at 32. She breaks down the Rule of 72, explains dollar cost averaging, shares age-based retirement savings benchmarks, and offers practical ways to bring up compound interest and retirement planning with your kids or grandkids without it turning into a lecture. If you've been looking for a way to start that conversation, this episode was made for you. Chapters: (00:00) Introduction (00:18) Sarah vs. Tom: The Power of Time (02:57) Pay Yourself First (03:42) The Compounding Math Explained (05:14) The Rule of 72 (07:22) Dollar Cost Averaging (08:54) Savings Benchmarks by Age (09:47) How to Talk to Your Kids About This (11:07) Watch This With Your Family Comment below: what age did you start saving for retirement, and what do you wish you had known back then? To schedule a time to discuss your financial future visit https://www.unityfinancialadvisors.net/contact-us or call (248) 885-8176 today! [https://www.unityfinancialadvisors.net/contact-us or call (248) 885-8176 today!] Connect with Jaime on Social Media LinkedIn: https://www.linkedin.com/in/jaimecowper [https://www.linkedin.com/in/jaimecowper] Instagram: https://www.instagram.com/jaime.cowper [https://www.instagram.com/jaime.cowper] Facebook: https://www.facebook.com/unityfinancial [https://www.facebook.com/unityfinancial] Investment advisory and financial planning services offered through Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting, and Education services offered through Unity Financial Advisors. Unity Financial Advisors is a separate and unaffiliated entity from Advisory Alpha. While tax and legal issues may be discussed in the general course of financial and investment planning, Advisory Alpha does not provide tax or legal services. Jaime Cowper is an investment advisor representative of Advisory Alpha, LLC, a SEC registered investment advisor. All opinions expressed by Jaime Cowper are solely her own opinions and do not reflect the opinions of Advisory Alpha, LLC, and as such, any and all statements of purported or observed general practices of non-affiliated firms and advisors; conditions of the broad financial services industry; or performance or returns with regards to products, securities, markets, or otherwise, whether or not advisor indicates they may be relying on third-party data or sources, are solely the opinions and/or interpretations of the advisor and are not intended to be offered as factual. The validity of these statements has not been verified, and as such, no representations of their validity are made. This recording is for informational purposes only and should not be relied upon for investment decisions. This material is not endorsed or approved by the Social Security Office or any other Government Agency. An Annuity is a long-term financial product designed largely for asset accumulation and retirement needs. All guarantees are backed by the claims-paying ability of the issuing insurance company.

#14: The Hidden Medicare Surcharge That Catches New Retirees Off Guard

You finally retire, your income drops, and then Medicare charges you hundreds more per month based on what you earned two years ago. That is exactly how IRMAA works, and most people don't find out until the bill arrives. In this episode, Jaime Cowper breaks down how Medicare's income related monthly adjustment amount is calculated, why its cliff structure can be triggered by just $1 over a threshold, and what the SSA-44 form can do for retirees whose income has changed. Jaime also walks through how MAGI is calculated, which retirement account withdrawals count toward it, and why Roth conversion strategies and HSA planning in your 50s and early 60s may help manage IRMAA exposure. If you are approaching 65 or already paying a Medicare surcharge you did not expect, this episode was made for you. Chapters: (00:00) Introduction (00:58) What IRMAA Is and How It Works (03:03) The Two Year Lookback Rule (05:36) The SSA-44 Form Most Retirees Miss (08:09) Hypothetical Example: Roth Conversions (09:39) Keep Your Retirement in Perspective Had you heard of the SSA-44 form before this episode? Leave a comment below. To schedule a time to discuss your financial future visit https://www.unityfinancialadvisors.net/contact-us [https://www.unityfinancialadvisors.net/contact-us] or call (248) 885-8176 [(248) 885-8176] today! Connect with Jaime on Social Media LinkedIn: https://www.linkedin.com/in/jaimecowper [ https://www.linkedin.com/in/jaimecowper] Instagram: https://www.instagram.com/jaime.cowper [https://www.instagram.com/jaime.cowper] Facebook: https://www.facebook.com/unityfinancial [https://www.facebook.com/unityfinancial] Investment advisory and financial planning services offered through Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting, and Education services offered through Unity Financial Advisors. Unity Financial Advisors is a separate and unaffiliated entity from Advisory Alpha. While tax and legal issues may be discussed in the general course of financial and investment planning, Advisory Alpha does not provide tax or legal services. Jaime Cowper is an investment advisor representative of Advisory Alpha, LLC, a SEC registered investment advisor. All opinions expressed by Jaime Cowper are solely her own opinions and do not reflect the opinions of Advisory Alpha, LLC, and as such, any and all statements of purported or observed general practices of non-affiliated firms and advisors; conditions of the broad financial services industry; or performance or returns with regards to products, securities, markets, or otherwise, whether or not advisor indicates they may be relying on third-party data or sources, are solely the opinions and/or interpretations of the advisor and are not intended to be offered as factual. The validity of these statements has not been verified, and as such, no representations of their validity are made. This recording is for informational purposes only and should not be relied upon for investment decisions. This material is not endorsed or approved by the Social Security Office or any other Government Agency. An Annuity is a long-term financial product designed largely for asset accumulation and retirement needs. All guarantees are backed by the claims-paying ability of the issuing insurance company.

#13: How to Give Your Kids Their Inheritance While You're Still Around to Enjoy It

You saved well, planned well, and now you're sitting on more than you're likely to spend in your own lifetime. But if you haven't thought carefully about how to share that wealth while you're still here to enjoy it, you could be missing one of the most rewarding opportunities in retirement planning. In this episode, Jaime Cowper walks through what she calls the Living Inheritance Playbook, explaining how the annual gift exclusion works, how it differs from the lifetime estate exemption, and how families are using it to fund everything from home down payments to grandkids' tuition to long term care insurance for adult children. If you're a retiree wondering how to put surplus income or RMDs to meaningful use for your family, this one was made for you. Chapters: (00:00) Introduction (02:36) What Families Are Doing With $19K (04:48) Using RMDs to Fund Kids' LTC Insurance (07:28) Jaime's Own Long Term Care Strategy (08:12) Why Living Giving Matters Most (09:08) Next Steps for Your Family After hearing about the long term care strategy for adult children, is that something you've ever considered for your own family? Leave a comment. To schedule a time to discuss your financial future visit https://www.unityfinancialadvisors.net/contact-us [https://www.unityfinancialadvisors.net/contact-us] or call (248) 885-8176 [ (248) 885-8176 ]today! Connect with Jaime on Social Media LinkedIn: https://www.linkedin.com/in/jaimecowper [https://www.linkedin.com/in/jaimecowper] Instagram: https://www.instagram.com/jaime.cowper [https://www.instagram.com/jaime.cowper] Facebook: https://www.facebook.com/unityfinancial [https://www.facebook.com/unityfinancial] Investment advisory and financial planning services offered through Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting, and Education services offered through Unity Financial Advisors. Unity Financial Advisors is a separate and unaffiliated entity from Advisory Alpha. While tax and legal issues may be discussed in the general course of financial and investment planning, Advisory Alpha does not provide tax or legal services. Jaime Cowper is an investment advisor representative of Advisory Alpha, LLC, a SEC registered investment advisor. All opinions expressed by Jaime Cowper are solely her own opinions and do not reflect the opinions of Advisory Alpha, LLC, and as such, any and all statements of purported or observed general practices of non-affiliated firms and advisors; conditions of the broad financial services industry; or performance or returns with regards to products, securities, markets, or otherwise, whether or not advisor indicates they may be relying on third-party data or sources, are solely the opinions and/or interpretations of the advisor and are not intended to be offered as factual. The validity of these statements has not been verified, and as such, no representations of their validity are made. This recording is for informational purposes only and should not be relied upon for investment decisions. This material is not endorsed or approved by the Social Security Office or any other Government Agency. An Annuity is a long-term financial product designed largely for asset accumulation and retirement needs. All guarantees are backed by the claims-paying ability of the issuing insurance company.

#12: How the Wealthiest Families Pass Down More to Their Kids and Less to the IRS

You have spent decades building your retirement savings, but have you considered what happens to your IRA or 401K when your kids inherit it? Since the SECURE Act of 2019, non-spouse beneficiaries must withdraw the full balance within ten years, often during their peak earning years. That could push them into a higher tax bracket and send a significant portion of your legacy straight to the IRS. Jaime Cowper, a financial advisor with over 20 years of experience helping retirees plan with confidence, walks through exactly how the inherited IRA rules work now and explores a life insurance strategy that could help families pass wealth in a more tax efficient way. She shares a real client example where a couple used a survivorship policy to create $1 million in income tax free benefits for their four children. If you are thinking about retirement income planning, estate strategy, or how to protect your family's inheritance from unnecessary taxes, this episode was made for you. Chapters: (00:00) Introduction (01:51) The Tax Bracket Problem for Your Kids (03:53) RMD Rules for Inherited Accounts (04:58) The Life Insurance Strategy Explained (06:55) Real Client Story: $320K to $1M (09:46) Why Planning Now Matters Comment below: what is your biggest question about passing retirement assets to your family in a tax efficient way? To schedule a time to discuss your financial future visit https://www.unityfinancialadvisors.net/contact-us or call (248) 885-8176 t [TEL+1(248) 885-8176 t]oday! Connect with Jaime on Social Media LinkedIn: https://www.linkedin.com/in/jaimecowper [https://www.linkedin.com/in/jaimecowper] Instagram: https://www.instagram.com/jaime.cowper [https://www.instagram.com/jaime.cowper] Facebook: https://www.facebook.com/unityfinancial [https://www.facebook.com/unityfinancial] Investment advisory and financial planning services offered through Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting, and Education services offered through Unity Financial Advisors. Unity Financial Advisors is a separate and unaffiliated entity from Advisory Alpha. While tax and legal issues may be discussed in the general course of financial and investment planning, Advisory Alpha does not provide tax or legal services. Jaime Cowper is an investment advisor representative of Advisory Alpha, LLC, a SEC registered investment advisor. All opinions expressed by Jaime Cowper are solely her own opinions and do not reflect the opinions of Advisory Alpha, LLC, and as such, any and all statements of purported or observed general practices of non-affiliated firms and advisors; conditions of the broad financial services industry; or performance or returns with regards to products, securities, markets, or otherwise, whether or not advisor indicates they may be relying on third-party data or sources, are solely the opinions and/or interpretations of the advisor and are not intended to be offered as factual. The validity of these statements has not been verified, and as such, no representations of their validity are made. This recording is for informational purposes only and should not be relied upon for investment decisions. This material is not endorsed or approved by the Social Security Office or any other Government Agency. An Annuity is a long-term financial product designed largely for asset accumulation and retirement needs. All guarantees are backed by the claims-paying ability of the issuing insurance company.