Broadcasts.com - "How Do I Calculate the Decreased Social Security Benefit If I Retire Early?" (Retirement Answer Man)

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How Do I Calculate the Decreased Social Security Benefit If I Retire Early?

Published: Feb. 1, 2023, 8 a.m.

I\\u2019m excited about our newest segment, Bring It On with Kevin Lyles. The Bring It On segment will discuss mindset and other non-financial aspects of retirement.\\xa0

In addition to our newest segment, today you\\u2019ll hear about the books I read in January and listener questions.\\xa0

Learn how to calculate a decreased benefit when retiring early, which accounts to draw from to minimize taxes, how to manage 401Ks through a company transition, and what to consider when choosing a financial advisor.\\xa0

Join me for this episode of Retirement Answer Man to explore the latest issues in retirement and beyond so that you can get ready to rock retirement.\\xa0

The latest books I\\u2019ve been reading

In January I had the opportunity to finish reading four books. Most are nonfiction, but I threw a fiction book in for good measure.

How to Think Like a Roman Emperor\\xa0by Donald Robertson - This book is on stoicism and discusses the qualms we have when contemplating our own death and aging. The fear of death and aging can make us fearful, so by bringing that touchy subject out of the shadows, we can embrace the inevitable and live more fully in the moment.

Never Finished\\xa0by David Goggins - Since this book was written by a Navy SEAL, it has some salty language. However, David is a living example of what you people can endure and do. We have capabilities far beyond what we can imagine.

The Boys from Biloxi\\xa0by John Grisham - John Grisham writes formulaic legal thrillers, but his formula works. I enjoyed the history and background that he included of Biloxi, Mississippi.

The Comfort Crisis\\xa0by Michael Easter - This is another book about getting outside your comfort zone. Michael Easter completed a monthlong hunt in the Arctic\\u2013far outside of his comfort zone. This book was my favorite this month\\u2013it will challenge your thinking. Michael explores the idea of stretching yourself by doing something you think may not be possible.\\xa0

If you have\\xa0any book recommendations for me reply to the 6-Shot Saturday newsletter.\\xa0

Why mindset is so important

Mindset is the attitude that you bring to your life and retirement. It drives how you respond to the challenges you face when you\\u2019re transitioning and living your life. The mindset you bring to those challenges will make all the difference in the world.

There is now more data regarding mindset with the science of positive psychology. Science shows that mindset matters and affects not only how you feel but outcomes. People who seek out the bad see more bad things, those who look for the good in the world see things in a more positive light.\\xa0

What to expect from the Bring It On segment

In our newest nonfinancial segment, we\\u2019ll discuss several nonfinancial issues related to retirement: dealing with boredom, losing status, mindset, attitude, aging, identity, gratitude and so much more.\\xa0

Think about your own attitude about retirement and aging. What are the top five words that come to your mind? Discuss your thoughts with your loved ones. Could your thoughts be improved? Do you need to change your mindset?