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Simplifying Retirement Savings Plans | Podcast Thumbnail

Simplifying Retirement Savings Plans | Podcast

Between 401(k)s, SEPs, and IRAs, there are many different retirement savings plans that have their own complexities. It can be challenging to know which one is right for your needs.

Today, Jeremy Keil is breaking down the retirement savings plan confusion. He outlines what you need to know about retirement savings plans and their different tax consequences so you can walk away feeling more confident about how to save.

In this episode, you’ll learn:

  • The difference between 401(k), 403(b), and 457 savings plans

  • 2020 contribution limits

  • Common retirement savings plan mistakes

  • Considerations for withdrawing money from your plans

  • And more!

Listen now to learn about the world of retirement savings plans and how they can help you work towards your ideal retirement!


Keil Financial Partners | 6 Questions Retirees Aren’t Asking But Should Be | 3 Keys You Should Know Before Choosing a Financial Advisor  | Subscribe

The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Keil Financial Partners. Keil Financial Partners is a part of the Thrivent Advisor Network, a registered investment advisor. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.

Keil Financial Partners does not provide legal, accounting, or tax advice. Consult your attorney or tax professional. Representatives have general knowledge of the Social Security tenets. For complete details on your situation, contact the Social Security Administration.

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Full Transcript

Retirement Revealed Episode 10: Simplifying Retirement Savings Plans

Are you ready to uncover your retirement solution? Learn more as Jeremy Keil and his guests guide you along the path of retirement and reveal the five steps you need to take to solve your retirement puzzle. Now onto the show!

Aric Johnson: Hello and welcome to Retirement Revealed with Jeremy Keil. Good morning, Jeremy. How are you?

Jeremy Keil: Doing well, Aric. Good morning to you. 

Aric Johnson: Oh, good morning. I'm having a hard time containing myself here. Jeremy and I have been talking before the podcast started. He told me a story about his kids that was just fantastic. It was hilarious, and maybe someday he'll share it with the entire audience. I'm still giggling about it. I’m having a hard time controlling myself, but we're on task now. We're ready to go. Jeremy, what are we talking about today?

Jeremy Keil: We're talking about retirement savings plans

Aric Johnson: Yes. Okay. Retirement savings plans. 

Jeremy Keil: It’s easier to get to retirement if you have a savings plan.

Aric Johnson: I would say it would be a much better retirement if you've got some sort of savings plan for sure. I've had conversations with advisors before, and I've heard retirement savings plan as a title before. Usually I hear it referred to as a 401k and other types of investments like that. Is that kind of what this is? 

Jeremy Keil: Just about, yeah. There's so much confusion out there because there's so many different types of retirement savings plans. They have different tax consequences. Our hope is that you're going to know more about these savings plans. If you know more about your money, you'll feel better about your money. You'll probably make better decisions as well. 

Aric Johnson: All right, good deal. Like I said, I never thought of a 401k as a quote on quote savings plan or a retirement savings plan. I always thought it was the retirement plan, especially in my younger years. I was like, well, I have a 401k. That's what it is, but I know that's absolutely wrong now after learning from you and a few others that were much smarter than me, so I'm going to let you take this over. Where do we start?

Jeremy Keil: Well, you might as well start with that 401k. You're right on. Most people think, well, that's my retirement. Some people even call it my retirement, and they're referring to their 401k. Let's just talk about a few different plans. They're very similar. You have your 401k, 403b and 457. These are all plans that you get through work. You can't just go out and do it on your own. You have to be part of a company. In the case of a 403b that’s basically the same thing but in a nonprofit. If you work for the government or any type of government entity place, you'll most likely have a 457. It's all virtually the same. There are just different rules for various reasons because you are working for a profit company, nonprofit company, or government workplace. Thankfully the rules around them are so similar that we can just kind of lump them all together. Go talk to your financial advisor if you've got something that's slightly different, but in general when we're talking about these 401ks, 403bs, and 457s it’s something you get through work. You've typically got the ability to add money to it yourself, and hopefully the place you're working is actually adding some of their own money in there to help you out as well. 

Aric Johnson: Now this is the first time I've ever heard of a 457, and you said that's what the government provides?

Jeremy Keil: Yup. 457s are for government entities. Mainly when I say that it’s actually more your state or county that might have it. The federal government has something called the TSP, or Thrift Savings Plan. I come from Maryland, and just about everyone I know out there either works for the federal government or as a teacher, so you can kind of lump that in the mix with the 401ks, 403bs, and 457s. The 457 is kind of like your state and local government. The TSP or thrift savings plan is for the federal government, but they all virtually work the same in that you get to contribute what you want. Here we are in 2020. They've got these limits in a way. They say, we want you to put money in but not too much. They're trying to be a little egalitarian. Let's help out everybody, but let's not skew it so much towards the richest folks that are out there. So they have these contribution limits, and right now in 2020, the most you can put in is $19,500. That's from your paycheck. They put in the money from your paycheck. You can't write a check to the 401k. It's got to come out of your salary. It's got to come out of your earnings every two weeks.

Aric Johnson: Oh, okay. Is there a way to adjust that toward the end of the year? Let's say you're putting in $500 a month for the first 10 months, which is $5,000, but you've got a lot more that you could possibly put in. Can you really heavy load it at the end, or is it that once you've set up how much is coming out per month you can’t change it?

Jeremy Keil: Yeah. Well, we'll talk about that a little bit later on maybe. That's one of the knocks on a 401k or those similar plans is that you don't control a lot of the rules. The company itself might say, no, if you set it here at the open enrollment period in the fall, you're stuck for the rest of the time. You're stuck for the next year. Hopefully you've got a plan that allows you to adjust it over time. I think most plans these days do, but you still run into some of those where you're stuck on a certain percentage or a certain dollar amount with every paycheck.

Aric Johnson: Got it. Alright. What else do we have?

Jeremy Keil: Well, just to finish up those areas, when you've got this work plan, hopefully the place is contributing to it. Oftentimes they'll call that a matching contribution. You'll hear stuff like 100% up to the first 4% and 50% up to the next 2-4% or something like that. It sounds confusing, but what they're saying is if you put in a dollar, they'll put in a dollar up to a certain amount. If you put in a dollar beyond that, they'll put in half a dollar up to a certain amount. Beyond that, go ahead and put in as much as you want, but you won't be getting any more from that company. The first rule of thumb with having these 401k types of investments is find out what their matching contribution looks like and whatever it is that they're giving you as a match. Try to max that out. If they're going to give you an extra 4.5% into your retirement, that's kind of like a 4.5% pay boost. It’s just the fact that if you put money in the 401k, the company's going to give you more money. It's just that they're putting it towards your future, not towards your paycheck every two weeks. 

Aric Johnson: Yeah. With the last company I worked with I was much smarter. It was another 401k that I'd gotten into, but I was a little bit wiser when I started it. The company matched 100% of the first 3% and 50% of the next 3%, so it was a total of 6%. That's exactly what I started putting in the 401k was 6% just to make sure I got that full match because you're right. It's free money in a way.

Jeremy Keil: Yeah, that's basically it. What they did is a common one, something called “safe harbor”. We won't get into that. If you're the employee, you can't control that at all. That’s something your employer's got to figure out. The mistake a lot of people make all the time is we hear people saying, oh, I'm maxing out. When they say that they are saying, well, I maxed out my contribution, which is great. They maxed out how much the employer's matching them, but they can actually contribute more. In fact, if you're over 50, you can put another $6,500 on top of that. They figure that when you get to 50 you're getting closer towards your retirement. Perhaps you're motivated to put more money in to save, and they'll let you go. In this case when you add the two together that's $26,000 a year that you can save towards your 401k. You mentioned your last company. There are a lot of people that take that info and say, okay, theirs matched up to 6%, and they'll just think that's how all places are now. You have to read your plan. Every company can do something different. We hear people all the time say, oh, I maxed it out by putting in 10%. That was your company plan 20 years ago. Things have changed, and the rules have changed. Different companies have different plans. Make sure you find out about your plan. Don't rely on maybe your past knowledge from a prior plan or even your own plan. They might change it every year themselves.

Aric Johnson: Exactly, and don't rely on what your spouse's plan is because if they work at a different company, their plan can be completely different. You've got to know what your own plan is. That's still exciting for folks over 50, especially for a husband and wife that are both working. That's $26,000 each per year with obviously different plans in place, but that's not too shabby, that $52,000 a year that they're able to put away. That's good.

Jeremy Keil: Yeah. If you're motivated and you have the money to do it, they call it a catch up amount because they kind of figure that it's tough when you're younger when you got the kids at home and you maybe realize over time that you need to start putting some extra money in so you can catch up for what you missed out on. That’s why they came out with that idea. 

Aric Johnson: Yeah. It's amazing how much money you don't have when you have kids. 

Jeremy Keil: Absolutely. All right, good. A lot of those ones we just talked about are for big companies and big nonprofits. A lot of times if you work for a smaller company, they might have something called a SEP or a Simple. A SEP plan is something that the company sets up for you, and you actually can't even put any money in yourself. So that actually might not be too bad. What if the company is just giving you 5-10% every year for free? That's great. I'd be thankful for it, but at the same time, you can't put any money in yourself, so you have to go out and find other places like the Traditional and Roth IRAs that we'll talk about next. So for this idea of a SEP IRA, you actually have to be the business owner to set that up. If you're a business owner and you want to learn more about this great way to take money and kind of cut your taxes this year by putting the money into a SEP IRA, give your advisor a call or give us a call. We can talk about that more later, but let's talk about the Simple IRA because that's something where as the employee you can control a bit of it. It's basically like that 401k. It’s not too much different, except that you can only put in $13,500 yourself. You can only put in $13,500. That catch up amount is only $3,000. Not sure why, but the government said, if you're a smaller company with a smaller plan like this, you can't put in as much, but that's the rules. Know the rules and understand that you can get to that maximum amount of $13,500 for this year 2020 plus another $3,000 in that catch up contribution. 

Aric Johnson: Okay, so let me ask you this. You said that's for both traditional and Roth IRAs? 

Jeremy Keil: Well, that's inside of these work plans, so that's a great point. A lot of people call it their 401k, and they don't understand that there's something called a traditional 401k or a Roth 401k. Some plans now allow you to put in money that's after-tax dollars. It means that you don't get the tax break this year, but later on you get it tax free. You can put that money in as a Roth 401k and start building up some tax free money towards the future. A lot of people say, well, if I do that, I'm limited to $6,000 because $6,000 right now is the Roth IRA limit. No, it's a 401k. Just because you're using the Roth 401k doesn't change a thing. You can still put in $19,500 plus the additional $6,500 as a catch up. Then they'll say, well, if I do the Roth 401k, I can't do my Roth IRA. That's not the case, right? The traditional and Roth are completely separate. You can do your 401k and max things out. You can do IRAs and max things out. When it comes to a traditional or Roth IRA, the maximum is $6,000 per person, and then you get an additional $1,000 again as a catch up contribution as well.

Aric Johnson: Okay, so if you've got these through the workplace, are you able to get a traditional or Roth IRA outside as well, or are you only allowed to have the one?

Jeremy Keil: Yeah, you can do both, and we run into that confusion all the time. That's our hope today is to kind of knock down some of those myths or thoughts that people have. You can have your 401k and you can have an IRA. Completely different situations. You got these 401ks with the limit. You got the IRAs with the limit. You can do Traditional or Roth inside of your 401k, and that does not prevent you from doing a Traditional or Roth IRA. So you see people that can max out their 401k with $26,000. They can max out their Roth IRA with $7,000. A lot of people don't quite understand that because they don't realize that these are two separate things, so it’s worth digging into. If you're someone that's got the ability and is very motivated to save for your retirement, don't let your misconceptions prevent you from saving the way that you want to save.

Aric Johnson: All right, I'm going to push the envelope further. Let's say you've got a 401k through work. Can you on the outside of that set up a Roth IRA, and can you then also set up a traditional IRA? Because each one has their own separate limits, are you able to kind of mix and match like that?

Jeremy Keil: A bit. So that whole 401k has a max of $26,000, or $19,500 if you're below 50. It doesn't matter whether you do traditional or Roth inside the 401k. Your max is at $19,500 or the $26,000 if you're a little bit older. The same thing applies to the IRA. You can do a little bit traditional and you can do a little bit of Roth. You get to choose what you want to do, but the total that goes into the IRA is either the $6,000 or $7,000, so it's kind of like you get your 401k levels and your IRA levels, and the government doesn't care really if you do traditional or Roth inside of each of those. They just say, hey, your max for this year for your IRA is the $6,000 or $7,000, so it's not per account. Sometimes people say, well, if I open an account at the other place and open an account with you, can I do $6,000 times two? No, that's not the rule. Well, I've opened a traditional with you and a Roth with you. Can I do the $6,000 times two now? That's not the rule either. It’s $6,000 total into the IRA. You get the choice of how much of that is traditional and how much of that is Roth. You can go all one or the other, or you can do a mixture of both. Again, you've got to figure this one out of what's going to help you best on taxes now as well as on the taxes later on. 

Aric Johnson: So what it boils down to for me and what I'm hearing from you is an IRA is an IRA, and you're allowed to have one. Whether it's traditional or Roth, you still have the same limit. It just depends on which kind you choose to go with. 

Jeremy Keil: Yeah. The most you can put into IRAs for one year is $6,000 or the $7,000. Now you could have multiple IRAs. It’s just that when you add them up, you can’t go over that limit, so let's move on. A few other confusions we see all the time are related to these ages. When do you think you can take money out of your IRA or your 401k, Aric?

Aric Johnson: Let's see. Is it 62 without penalties? 

Jeremy Keil: Yeah, so that’s the thing. There's so many ages, right? 62 is when you can first take social security. 65 is when you get to the Medicare age. A lot of people would say 59 and a half because they understand and know that the 59 and a half mark is when you can take money out of these IRAs without any penalties. That's when you can take money out of your 401k without any penalties. However, there's a special exception for these 401ks. The government kind of realizes this is your work retirement plan and that sometimes people retire before 59 and a half, so they figure that if you retire after 55, you can take money out of that 401k from the place you retired from. So you might be 56 years old, retired, and allowed to take money from that 401k without the penalty. You can't go get your old 401k from 10 years ago and take it out without a penalty. You can't go get your IRA and take it out without a penalty, but if you basically retire from the place you're working and you do it when you're 55 or older, you can take money out from there without the penalty. That's a big difference. A key thing to know is that a lot of people want to retire after 55, but they're not quite 59 and a half. A lot of times they say, I can't take a dollar out. They feel like they can't take any money out, and they're incorrect. They might be missing out on some abilities to take money out. Sometimes they keep on working because they think, I gotta wait till 59 and a half. When it's your 401k at the place you're working and you leave that place 55 or later, you can take it out without penalty. You still have to pay taxes if there's any taxes there. But be careful  because a lot of times you talk to an advisor and they say, oh, let me do this rollover. I'll help you move your money from your 401k over to your IRA. You just made your number 59 and a half. You're 57, your money's in the 401k, you just retired, and you can’t take money out of there without a penalty. You meet an adviser who either doesn't know or doesn't tell you that the IRA is 59 and a half. You just kind of put yourself in a position where penalties might show up again, while you were previously in a position where there weren't any penalties because you retired after the age of 55. You could have taken out that money from the 401k at 55. You have to be careful about this and know these numbers because there's so many different numbers that apply.

Aric Johnson: Well, I feel kind of silly to be honest because my dad retired at 55 from Boeing, and that's exactly what he did. I totally forgot that he was able to take money out of his 401k without any types of penalties. That's how he retired early. He was in the Air Force for 20 years, so we also had Air Force retirement, and again, that's another way he was able to retire at 55 because he had another source of income there. Both of my parents retired at 55, and that was a blessing for them for sure because he was able to stop working at a much earlier age than most, but I didn't think about that. So yeah that's great. Your own 401k with no penalties after 55. I have to remember that. I'm going to work toward that one.

Jeremy Keil: It’s the place where you're working so if you leave that place after 55. So if you quit work in that job at 54, you're still 59 and a half for that. You have to leave that employer at 55 or later, but usually it's what you're talking about. You're retired, you're past 55, and you can take it from that place you retired from.

Aric Johnson: So let me ask you this, Jeremy. Let's say somebody’s been working for a company for 30 years. They started when they were 20 and now they’re 50 years old. Whether they got laid off or whether they decided to move on, they have another opportunity, but that's where they have 30 years worth of their 401k. But now they go to work for another company, and they work for them for five years while earning a tremendous salary. It's great and all, but they're ready at 55 to retire. If they retire at that point and their original 401k is still just sitting there, can they draw off of that original 401k without penalty, or is it based on that new company that they were at for five years?

Jeremy Keil: Yeah, so now you're showing just how complex this is and why it's so important to work with an advisor and also why it’s so important to work with an advisor that doesn't make an investment commission from their “advice” because that advisor could easily figure out that you can most likely roll that old 401k into your new plan, your new place where you're working, and your new retirement plan. Then when you retire at 55 it's not sitting in the old plan where you had to wait till 59 and a half. It's sitting in the new plan where you could take it out at 55. So there's some complexities there and it's just so incredibly important to understand the differences between the 401ks, the IRAs, your old 401k, and your new 401k. Now let's talk about a few reasons why you may want to have a 401k and still use that place or other reasons why you might want to take it out of the 401k and move it towards something called an IRA. Here's some reasons why people might say, oh, you should take it out of the 401k. Go find something different. In your 401k, you're limited to the choices that the company came up with for you. You go into an IRA and you can call up just about any place you want and find just about any investment that you want. So sometimes you find these 401ks with a little bit of a restriction on the type of investments that they have, and you might want to get something different which would encourage you to move out to an IRA. Another thing too is that these 401ks are really designed to help you grow and build your wealth. They're not so much designed to help you take the money out and live on it. Again, the companies came up with these rules, but a lot of times the rule with these 401ks is that once you take a dollar out, you have to take the whole thing out. It’s like they say, we'll help you build it up, but if you want any money out, you have to move it out to someplace else. So sometimes you're kind of being forced to take the money out. If you want to start taking it out on a monthly basis, the 401k might say no, we won't allow you to take it out monthly. You're only allowed to take it out once per year or once ever. So if you want your money out, you'll have to move it from a 401k to an IRA. The way to figure this out is through something called a summary plan description. Look into your website for your 401k. Ask your HR folks about that summary plan description. That'll give you the rules on how can you take this money out and what the rules are around that.

Aric Johnson: Gotcha. Jeremy, earlier you mentioned moving your 401k out and making it into something else and rolling it over and how advisors may advise you to do that while the company or 401k plan may not let you take it out without rolling it over someplace. Can you give me the pros and cons of doing that? I’m assuming it’s a minefield.

Jeremy Keil: Yeah, it's so specific. You need it. Get that summary plan description, which talks about your investment choices and what these different rules are. We just said a few reasons why you might want to move money out of the 401k. Let's talk about a couple of reasons why you might want to keep money in the 401k. Your 401k's a work plan. When the investment folks are pricing it and saying, well, what do we charge these people? Well, in general the more money you have the lower the fees are. If you work especially at a big place, you might not have your own $100,000 or $500,000. They're looking at that $1 million, $10 million, or $100 million. I mean, there could be $1 billion in somebody's 401k because it's the whole entire plan of everybody out there pricing it. When you get the entire company, you get much better pricing power. So it might be that the investments inside your 401k are cheaper than getting the exact same investments outside of your 401k, so you want to keep that in mind and in consideration. Also, if you have the money in the 401k and you retire at 55 or later, you don't have to wait all the way to 59 and a half to take out those funds, so that might be a reason to keep money in the 401k at least for those first few years until you're past that number of 59 and a half. Another little known one out there is something called a stable value fund. When you hit retirement, a lot of times you're looking first to stability, and a 401k is allowed to have this type of fund called a stable value fund. It's kind of like a money market but just revved up as far as the interest goes. It's just really interesting the way it works out. What's most important about this is that the stable value fund is allowed inside of 401ks but not allowed outside of 401ks, so if you're looking for a stable interest rate, check out what that interest rate is. It might be a better interest rate inside the 401k then you could get somewhere else. So it’s something you need to look at and make this decision on. Like you said, there’s pros and cons. There's reasons you might want to move it to the IRA, but you want to remember there are some reasons you might keep it inside the 401k. Look at those investment expenses, remember that 55 age, and check on that stable value fund to see what interest rate it’s paying. 

Aric Johnson: Hmm. All right. Stable value fund. I've never heard of that before, so that's great info. 

Jeremy Keil: Yeah, that’s a new one for you, and sometimes they call it something different. We work a lot with WE Energies employees. We're out here in Wisconsin, so there are a lot of WE Energies folks. They have something called a blended rate interest fund. They just came up with that name years ago, but it's a stable value fund. So sometimes you have it inside of there. It is just called something different, so you have to check that out and find out what fund is not going to be losing money and then check out that interest rate and compare it to what you could get elsewhere. You might be better off keeping it in the 401k if you're going to be using that interest rate type of money. Last thing we really want to talk about here before we wrap it up is just this idea that there's a difference between what's called a registration and the investments themselves. So these 401ks, Roth IRAs, and Simple plans are called registrations. Basically it’s what the government is looking at. How is it going to be taxed? That's different from the investment side. We hear all the time, what is a Roth IRA paying these days? Roth IRAs don't pay anything. The Roth IRA is just what's showing up on your tax form. It's the investments inside of it that matter as far as your returns go. We will hear people say, oh, this IRA is no good, but my 401k is making money. Okay, well, it's not the IRA itself that's no good. It's the investments that you're unhappy with. A quick story about that is we had somebody come to us a few years ago and say, well, my IRA went up a few thousand, but my 401k went up like $20,000. We looked into it and said, yeah, you put $20,000 into it. You're adding to your 401k. It's not like the investments did it. You're adding money to the 401k,  so sometimes you think your 401k is doing great and that some other accounts aren't doing as well. Well check into the investments, but keep this in mind when you are adding to the investments in your 401k.

Aric Johnson: It's consistently going up. 

Jeremy Keil: Right. Yeah, but that's just the confusion we see all the time when people kind of associate whatever's happening inside of that account with the big word of Roth IRA or 401k. It's the investments themselves, and you get to choose those investments. It's those investments that are going up and down. It has nothing to do with the tax piece of it, and the tax piece of it is what shows up on that government form, on those 1099s that you get. That's the Roth IRA. That's the registration. That's the 401k. That's the term. It's completely separate.

Aric Johnson: All right Jeremy. I'm putting you on the spot here. We're running out of time. Can you give us a wrap up of the biggest takeaways from today?

Jeremy Keil: Yeah, absolutely. I got three of them. We want you to understand that the traditional or Roth 401k and the traditional or Roth IRA are completely separate. You may be able to do both, and just because you have a Roth 401k doesn't mean you can't do a Roth IRA. They have completely separate rules and limits, and a lot of people feel that just because they have one means that they can't have the other, and we want you to stop thinking that. Today's the day you're done thinking that. Your 401k rules are separate from your IRA rules, and you get to do that traditional Roth inside of either one just depending on how you want to set that up. Second one is what we just talked about. That registration and how the government is going to view it is completely different from the investments. If you're not happy with your Roth IRA or your 401k, don't blame the Roth IRA or the 401k. Instead blame the investments, and go take a look and see what you can change inside of there. The last one is to just remember these different numbers and these different ages. It's not just a blanket 59 and a half for everything. It could be 55. If you're leaving your job when you're 55 or later, your 401k could be available to you without a penalty at 55. Those numbers, those big differences, and what you're allowed to do before and after a certain date, are why you really want to be working with a financial advisor. It is even more important to be working with a financial advisor as a fiduciary that’s not making an investment commission based on what they call “advice”. A lot of times if you're trying to get some good information, find that thing called a summary plan description.

Aric Johnson: Yeah, absolutely. Summary plan description. That’s something new for me.

Jeremy Keil: It’s a new phrase for most people, but that's going to tell you a lot of stuff on what's inside of your plan and especially what the rules are for when you want to take money out. 

Aric Johnson: Yup. Absolutely. Jeremy, I want to say a final word to the audience as well. We covered a lot today, and one of the things that really stuck out to me is the ages, right? One of the things you covered earlier was ages. We talked about 50, 55, 59 and a half, 62, 65, 70 and half, and then with the new SECURE Act, which we’ve spoken about, I believe there is another age of 72. For anybody listening to this, if you are coming up to any of those milestones any time soon, you’ve got to reach out to a professional. There are so many things that you need to do or that you could do in those specific years based on government rules. You’ve really got to get a handle on it so that you can make a good plan. Obviously I know Jeremy very well and I obviously work with him on this podcast, so I will say this is one guy you should be calling and reaching out to, but if you have a professional, reach out to them. If they’re not giving you the greatest answers, then reach out to Jeremy. Jeremy, I’m going to ask you to give your phone number again because I think it’s that important. People need to be reaching out to know what is going on at these ages. 

Jeremy Keil: Yeah. You can check us out online at keilfp.com, but otherwise give us a call if you're wanting to at 262-333-8353.

Aric Johnson: Jeremy, thank you so much. I learned a ton on this podcast. I love it. Thank you for answering all my questions, and I'm hoping that the listeners will email in questions to you, make that phone call, and make an appointment to ask you some more questions. Thanks again for your time brother. 

Jeremy Keil: Thank you, Aric. We'll be talking soon.

Aric Johnson: You bet, and thank you all for listening to the Retirement Revealed podcast with Jeremy Keil. If you have not subscribed to the podcast yet, please click the “Subscribe Now” button below. This way, when Jeremy comes out with a new podcast, it'll show up directly on your listening device. This makes it much easier to share these podcasts with your friends and family. Again, thanks for listening today. For everyone at Keil Financial Partners, this is Aric Johnson reminding you to live your best day every day, and we'll see you next time.

Thank you for listening to the Retirement Revealed Podcast. Click on the subscribe button below to be notified when new episodes become available. Visit Retirement-Revealed.com to learn more. The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Keil Financial Partners. Keil Financial Partners does not provide legal, accounting, or tax advice. Consult your attorney or tax professional. Representatives have general knowledge of the Social Security tenets. For complete details on your situation, contact the Social Security Administration. Keil Financial Partners is a part of the Thrivent Advisor Network, a registered investment advisor. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.