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October 16, 2023 22 mins

Navigating Key Retirement Milestones: Planning Your Financial Journey 

Welcome to Orca Wealth Management's podcast. In this episode, join Ken Ouellette, CPM Certified Portfolio Manager and founder of Orca Wealth Management, as he delves into the critical financial milestones leading up to retirement. Ken brings over three decades of experience to guide you through the intricacies of building, preserving, and transferring wealth, providing actionable steps to plan through life's financial challenges. From catch-up contributions to maximizing Social Security benefits, this episode offers insights and strategies to empower your financial journey.

In this episode, Ken and Don engage in a dynamic discussion on key retirement milestones, exploring financial avenues and demystifying complexities for a typical investor approaching retirement. They delve into various segments, unraveling the essential steps and considerations at each stage.

Key Points Covered:

  • Maximizing retirement savings through catch-up contributions at age 50.
  • The significance of age 55 in terms of penalty-free withdrawals from retirement accounts.
  • The advantages and considerations of starting Social Security at age 62.
  • Navigating the tax implications and benefits of delaying Social Security up to age 70.
  • Essential insights into Medicare eligibility and its impact on healthcare costs at age 65.
  • Maximizing Social Security benefits by waiting until full retirement age (66-67).
  • Understanding required minimum distributions (RMDs) and their penalties at age 73.

Gain valuable insights and strategies to optimize your financial decisions leading up to retirement. Discover actionable steps and key considerations to enhance your retirement savings, plan for healthcare costs, and make informed choices regarding Social Security and required minimum distributions.

Have questions or thoughts to share? Reach out to Ken Ouellette and the Orca Wealth Management team for personalized financial guidance.

Tune in to this episode for expert insights, actionable advice, and a roadmap to navigate the critical milestones on your path to a secure and prosperous retirement. Let's embark on this journey together, ensuring a life well lived through thoughtful financial planning.

Connect with Ken Ouellette:

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