The 2% Club is made up of retirees who have a pension and at least $1 million saved. In this episode of Joe Knows Retirement, Joe talks about his heart for retirees in the 2% Club, why he decided to specialize in working with them, and shares the unique situations they can find themselves in in retirement. From tax consequences to giving their money purpose, Joe speaks directly to 2%ers in this video.
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Timestamps:
00:00 Intro
01:29 Are you a Midwestern Millionaire?
03:44 Most advisors don't talk about pensions
05:42 Understanding the worth of a pension
06:52 Tax planning & tax efficiency
11:03 Widow's penalty
14:01 Kiddos penalty
14:41 Give, gift, spend
Disclaimer: Since we do not know your specific situation, none of this information can serve as tax, legal, insurance, or financial advice, and may be outdated or inaccurate. The information comes from sources believed to be reliable but cannot be guaranteed. This content is prepared for educational purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Peak Retirement Planning, Inc. is a Securities and Exchange Commission registered investment adviser and able to offer advisory services in Ohio and in other states where registered or exempt from registration.