The “Do Something” Series Episode 2- Retirement Nuts and Bolts

Compounding Change with Shannon Davis

Wouldn’t it be great if there were a way to procrastinate putting things off? To procrastinate the procrastination! Too often, especially when it comes to retirement and financial decisions, folks wait too long to take the first step. And then, it’s often too late to take advantage of what is in your best interest. Even taking a moment to ask for help to learn more is a first step that can pay big dividends.

This is the second episode in a special series of the Compounding Change Podcast called “Do Something”, as host Shannon Davis and Leadership Coach Jenna Stoliker focus on things we can all do to take action on some of life’s most important and impending stages.

In this episode, they delve into the complexities of Medicare and Social Security, sharing personal experiences and insights on navigating these essential systems. They emphasize the importance of proactive financial planning, the need for emotional safety in discussions about aging and benefits, and the power of taking small, actionable steps towards understanding and managing one's financial future.

The conversation encourages listeners to seek knowledge, ask questions, and engage in meaningful discussions about their financial well-being.

Takeaways

-Medicare does not cover everything; there are significant gaps.

-Social Security benefits vary based on individual circumstances.

-It’s crucial to enroll in Medicare at the right time to avoid penalties.

-Understanding Social Security requires knowledge of personal work history and marital status.

-Proactive financial planning is essential for retirement.

-Asking questions and seeking help is a sign of strength, not weakness.

-Emotional safety is important when discussing financial matters with loved ones.

-Checking your earnings history can impact your Social Security benefits.

-Conversations about finances should be ongoing and not left until retirement age.

-Taking small steps towards financial literacy can lead to greater empowerment.

Chapters

01:10 Introduction

04:27 Navigating the Complexities of Social Security

08:35 Empowering Conversations About Financial Planning

10:45 Taking Action: Th Do Something Challenge

Helpful Links:

Jenna Stoliker: https://jennastoliker.com/

Shannon Davis: https://www.daviscompoundingchange.com/

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Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions.

Securities offered through Cambridge Investment Research, Inc., a registered

Broker/Dealer, Member FINRA/SIPC.

Investment Advisory Services are offered through Retirement Plan Advisors, LLC, a Federally Registered Investment Adviser. Cambridge Investment Research and Retirement Planning Advisors are not related to DavisCompoundingChange.com or this podcast.

Please note that investment involves risk, and no statements made in this recording are indicative of future performance.

The Compounding Change Podcast is brought to you by Shannon Davis