Mailbag: Should I Take Social Security Now Or Wait Until I’m Done Working?

Retire Ready with Kyle Hammerschmidt

This week on the show, we’re diving into the mailbag to answer some recent listener questions that have landed in Kyle’s inbox. He will share his thoughts on these inquiries and share helpful tips for those of you who might’ve found yourself in a similar situation. Stay tuned to see what you can learn!
Here are the questions we tackle in today’s show:

• I’m 67 and have reached full retirement age for Social Security, but I don’t plan on retiring soon. Should I go ahead and take it now because I’m eligible?
• A majority of my 401 K is invested in company stock. I understand that I'm not diversified, but I feel like it's okay because I am invested in the company and what they're working towards.
• I've enjoyed the growth in my 401(k) over the years despite volatility. But how do I know when it's time to step away from the roulette wheel?
• My brother mentioned a law requiring my kids to withdraw a significant amount from my IRA within the first 10 years after my death. What’s the deal here?
• I’ve spent 40 years saving and investing and now that I'm about to retire, I can't even comprehend going the other direction and pulling the money out. Is this a normal thing people struggle with?

Helpful Info:

Kyle's website: http://www.mokanwealth.com/

Phone: [phone]

Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website
Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.