The Month You Retire Really Matters

What's the best month to retire?
Dave Zoller, CFP®

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⭐️ POPULAR RETIREMENT VIDEOS ⭐️

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2️⃣ 5 BIG Retirement REGRETS

3️⃣ Dave Ramsey Reaction: 8% Withdrawal Rates?

4️⃣ How the RICH Invest Their Money

5️⃣ 7 Things Happy Retirees Do Well. Retirement Planning Tips From Recent Retirees
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Streamline Your Retirement by getting these 3 key parts right!
1) Tax-efficient Withdrawal Planning
2) Investment Planning
3) Tax Reduction Planning

My name is Dave Zoller and I own Streamline Financial along with our team of retirement planning specialists.

Streamline has been helping people retire for over 25 years and I've personally been working with clients for the last decade and a half.

We can only work with a select number of clients so we created this channel to share what's working well for the families we help.
We both know that RETIREMENT IS MORE THAN MONEY so you'll see the financial strategies along with the non-financial strategies to make sure this next stage is YOUR BEST YET!

MUSIC:
Stary Sky- Simon Grob

Disclaimer: Since we don’t know your specific situation, none of this information should be construed as tax, legal, financial, insurance, financial advice, or other advice and may be outdated or inaccurate. It is your responsibility to verify all information yourself. This content is prepared for entertainment purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Streamline Financial Services, LLC or its members cannot be held liable for any use or misuse of this content.
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Disclosures: Securities offered through LaSalle St. Securities LLC (LSS), member FINRA/SIPC. Advisory services offered through LaSalle St. Investment Advisors LLC (LSIA), a Registered Investment Advisor. Streamline Financial Services is not affiliated with LSS or LSIA. LSS is affiliated with LSIA.

[kenw]

I retired at 55. I started May 1st, I maxed my 401K for that year, and ended up with an AGI that gave me great medical rates under the affordable care act. I have to say I really like retirement - I was a bit concerned about getting bored as I used worked a lot. Ive been retired over 7 years now and it is just incredible. The only surprise was that I saved up quite a bit on money for retirement and it's hard for me to spend it now as I still have a "Save for retirement mindset". My investments are growing much faster than my spending depletes them. Maybe I'm just save, retire, and enjoy. It really is a special time in life.

[davidshort]

I turn 65 in March, plan on retiring in June. I have to give my employer 4 week notice to collect 5 thousand dollar bonus. With my social security and two union pensions I hope to live comfortably.

[ChristopherEvans-]

I had a check list on when to ideally retire.
1. Get my employer 401k yearly contribution in February.
2. Get my semiannual bonus check on April 1st.
3. Last working day was May 18th, my 56th birthday and my 37th anniversary at the company.
4. Use the last of my PTO to get me to June 30th.
5. Officially retired and my ACA health plan started on July 1st.
6. Retired coming out of winter, going into summer.
7. Working just beginning of the year allowed me to earn up to the maximum MAGI to get the optimum premium credits for my ACA Bronze HDHP+HSA plan.

Your channel and others really helped me learn quite a bit about optimizing retirement planning.

[Mitzi]

Agree with starting off your retirement with a vacation. Book a cruise, a bike tour, a resort.

[markwilhelm]

My last day was Dec 29 2023. I wanted to keep taxes simple from one tax year to the next.

[gregkloe]

Well, I'm screwed. I'm retiring this fall/early winter. But I'm not going to stay on until spring. I'm using the cold, dark days to go room by room de-cluttering my home. There are a lot of variables to consider. These are good points to consider but I just wasn't ready this spring and I don't want to wait until next spring. I have plenty to do this winter to get my house ready for sale!

[JeffWilliamfick]

Perfect topic. I'm 3 years in retirement @57, did a good job in the accumulation phase with net worth of $3M+. The problem is I haven't spent any of it despite knowing I have no concerns of running out of money. Some minimalist traits that helped me save are not easily cast aside. I sense I'll be dead and gone with plenty of money left behind, but that was never a goal.

[Utah_Mike]

I will retire at 65, if I had more confidence in the economy I would retire now (61).

[maxsmart]

i retired at 60 and started drawing my SSI at 62. if i waited until 70 max allowance waiting 8 years i would have left 58 k on the table. I would say if SSI is not a priority or necessary, take the $ and run!! tomorrow is not guaranteed.

[tonyaosborne]

Your video just randomly showed up and I am glad it did, you have some great information. I just turned 59 but I'm thinking of retiring at 62. I can do it financially but just the idea makes me scratch my head! I will review some more of your videos. Thanks!

[dforrest]

Excellent video! I’m a teacher, so I gave my notice the day after students’ last day in May. I could have retired May 31, but I had planned a wonderful 3-week roadtrip in June. Due to some medical issues I just didn’t feel comfortable switching to the insurance plan offered by the pension until after that trip so I retired June 30. I highly recommend traveling right as you retire and it makes a clear break from your past life to the future. Retiring June 30 allowed me to start collecting a pension July 1, while still being owed two months’ pay from my employer, so it was nice knowing I had extra money for my trip. I definitely recommend being somewhere warm when you start retirement.

[bobb]

Another thing if on a pension read your plan documents. If you work at least half of the year it counts as another full year. Also if at least 6 mos away from age 65 you can contribute to HSA to lower your income if you have a Qualified High Deductible Medical Plan. Also some companies will true up the 401k matching if you paid enough in during the year. So you may want to wait and get that. If you are retiring early may want to limit income so you pay lower Premiums for Obama care. Also if you leave at the beginning of the month some companies continue insurance through the end of the month. May want to do that overseas trip then while you still have company insurance.😊

[yankee]

I live in Phoenix. November is a perfect time to retire. The weather is best as we go into “Winter.”

[mcarleton]

I could retire in November then go visit my sister-in-law in New Zealand - Sumner time down under in January.

[dpol]

This is actually really helpful to think through.

[ameroamigo]

Outstanding video. I did a retirement practice run between jobs this summer. Your point about retiring before the summer starts is pure gold. Excellent suggestions.

[flygirl]

Helpful video, thank you, but I am weird, I hate summer and love winter - less sun, good time to go skiing, and get to travel when it is less crowded, and airfare and hotels are more reasonable!

[peterwright]

RSU vesting schedule is a good retirement date driver if you forfeit remaining unvested RSU’s. Also was able to max out the Mega Backdoor Roth with after tax contributions to the 401k and in plan conversions in the final year. Another big tax saver for us was to contribute highly-appreciated stock to a Donor Advised Fund to get a big deduction while our tax rate was high, effectively pre funding our charitable contributions to the point where we can start QCD’s.

[davidhay]

If you have a severance package coming to you, retire early in the year. Avoid having to claim all/most of your salary plus severance in the same tax year.

[poulosgr]

I'm 38 and a long way from retirement, and I very much appreciate your insightful videos!!!