Safe Harbor Retirement Planning

12/16/2022

| Loved being on The Thoughtful Entrepreneur with UpMyInfluence. Got to share some great things we’re doing at Safe Harbor Retirement Planning 👉

On today's episode is Mark Singer, the President of Safe Harbor Retirement Planning. Mark has served as a relentless retirement guide to thousands of individuals since 1986. The secret to his longevity has been asking the questions other advisors simply don’t ask; it allows him to make the best de...

12/14/2022

New York Life sponsored a study that interviewed people who had over $100,000 of investable assets

The results were that 46% of those that retired, said they would have retired (on average) 4 years earlier if they had the same financial level of security 4 years prior, that they do now

It is all in the planning! Not sure where you're at in retirement planning? Take my 2 minute quiz here to find out ➡️

Take the Are You Ready to Retire? quiz to better understand what stage you’re in on the road to retirement so you can begin planning your best next steps.

12/12/2022

Let's talk Self-employment taxes!

Self-employment (SE) taxes are not inconsequential.

Business owners pay both the employee’s and the employer’s share of Social Security and Medicare taxes. It definitely pays to minimize Medicare taxes because benefits do not increase with the payment of higher taxes.

Once you’ve paid a minimal amount into Medicare for 10 years, both you and your spouse qualify for free Part A starting at age 65. (Everyone over 65 qualifies Part B as long as they pay the monthly premiums.)

Do you have to account for Self-employment taxes?

12/11/2022

Don’t miss Mark’s video on ways to maximize your income while reducing your taxes in retirement.

As you move into retirement, planning can get more complex. In this video, Mark shares tips on how to maximize your income while minimizing your tax exposur...

12/09/2022

| You’ve been thinking about and preparing for retirement, but will you have a happy one? In this episode with I share my perspective and data into what makes for a happy and unhappy retirement! Take a listen here 👉

You've been thinking about and preparing for retirement, but will you have a happy one? Mark Singer shares her perspective and data into what makes for a happy and unhappy retirement and talks about the financial planning process!

12/07/2022

Did you know this about Social Security filing?

If it’s been less than 12 months since you filed for Social Security, you can withdraw your application, repay the benefits you collected, and start over later.

If it has been more than 12 months since you’ve filed, or if you don’t want to go through the trouble of withdrawing and repaying, you can simply go back to work at a high enough salary that all of your benefits will be withheld (roughly $60,000 per year or more).

12/05/2022

Most boomers are aware of the rules that provide for a reduced benefit if they apply at 62 and a higher benefit if they file at 70.

The amounts are shown right on the annual Social Security statement.

The difference between the age-62 amount and the age-70 amount doesn’t seem very large at first glance, especially when the carrot of immediate free money is dangling in your face.

But if you project those benefits out over a lifetime (until age 90), incorporating annual COLAs, and even additional earnings—understanding that if the primary breadwinner in your family dies, his higher benefit will continue as long as the surviving spouse is alive—the difference between applying at 62 and applying at 70 expands enormously.

When do you plan on claiming Social Security?

12/04/2022

There may be a big difference between what you're expecting to happen in this next chapter of life (retirement), and what the reality might be.

I want to make sure I bring to your attention 3 things you may not be aware of that no one has told you about, so you can plan the right way, and make your retirement as good as it can be. Check it out here 👉

Make sure you know these things before retiring! The reality of retirement can be very different from the idea you have in mind. Before you decide to retire,...

12/02/2022

| I had the pleasure of being on Jordan Goodmans show recently, we discussed the impact of inflation on Social Security, the 2022 COLA increase, managing your IRA to avoid a 50% tax, and much more! Take a listen here 👉

| The Money Answers Show 10/18/21 Monday, October 18, 2021 on The Money Answers Show | VoiceAmerica - The Leader in Internet Media

11/30/2022

Many of my clients have asked me, “Mark, when are you going to retire?”

A quick story – years ago I asked Joe Deitch, founder of Commonwealth Financial Network, when he was going to sell the business and move on

His reply was that “as long as I love what I am doing, I will not be selling.” I understood what he was saying then, and am living that reality now

My answer is the same as Joe’s – I love what I do and I have no interest in moving on

Consistent with that feeling, I have invested back into the business in an effort to continue to grow the business

I know I said I would not write another book but this pandemic has compelled me to write my fourth, entitled “Don’t Outlive Your Money In Retirement - 7 Key Steps”

Why? Well, COVID provided those who have yet to retire a glimpse into the future – nowhere to go, no office to work in, and staying home 24/7 with one’s spouse. For some that was quite a wake-up call

Hence, I decided to write a new book that provides some clarity on how to prepare for retirement and a look at our 7-step planning process

Type “BOOK” in the comments and I’ll send you the first chapter for free. This first chapter walks you through defining your income needs and provides worksheets to determine your cash flow and overall income planning

11/28/2022

How were you introduced to the industry you’re in now?

Many many years ago in my 20s, I was in a completely different industry but I hired a financial planner

News flash - I didn’t have any money at the time BUT I just wanted to know, what I didn’t know, in essence

What were the questions I needed to ask in order to put me on track financially? My financial planner helped me do just that

And you know what, it was the best investment I ever made for myself

A couple years later, I was at a crossroads in my career path and I realized–I know how much my financial planner benefitted me, and I would love to be able to do the same for others. So hey, maybe this is an industry I want to be in!

Since then, I’ve never looked back and spent 32 years in this business

My real passion is educating people. I love teaching people what they may not know, and how to put themselves on track for a successful retirement

Do you have a similar story? Let me know 👇

11/27/2022

In this video I'm going to share with you the difference between rich and poor in retirement, and its not always about how much money you'll have (although that does help). I think you'll be really surprised on what I hone in on, and the 6 things you should be aware of. Check it out here 👉

In this video, I discuss the difference between the rich versus poor in retirement - and no it's not having a monster sized investment account (although that...