Cravitz Financial & Insurance Solutions

Cravitz Financial & Insurance Solutions Retirement Planning for retirees and soon to be retirees.

Whether you’ve saved $1 million or not, deciding when to claim Social Security is one of the most important retirement c...
06/13/2025

Whether you’ve saved $1 million or not, deciding when to claim Social Security is one of the most important retirement choices you'll face.

In this video, I walk through a real life example to break down the key factors in claiming Social Security early versus delaying.

The insights apply to almost anyone nearing retirement, no matter the size of your nest egg.

You'll learn:

✅ How your claiming age affects your lifetime benefits
✅ The impact of taxes, health, and longevity on your decision
✅Why your Social Security strategy should reflect your unique retirement goals

If you're feeling unsure, you're not alone. This video is here to help bring a little more clarity and confidence to your decision.

Retire with Confidence: https://cravitzfinancial.com/our-process/CONTACT ☎️Website: https://CravitzFinancial.com/Phone: 714-462-9155Email: Ryan@CravitzFinan...

If you're over 60 and still working full time, there's a good chance you've already reached financial freedom—but just d...
05/30/2025

If you're over 60 and still working full time, there's a good chance you've already reached financial freedom—but just don't know it yet.

In this video, we uncover reasons people delay retirement and share the real story of someone who broke free from the cycle of “just a few more year years."

Learn what questions you should be asking and how to find out if you're truly ready to retire - so you don't waste your healthiest, most vibrant years, especially if you're still in a job you don't enjoy and may no longer need.

Retire with confidence: https://cravitzfinancial.com/our-process/CONTACT ☎️Website: https://CravitzFinancial.com/Phone: 714-462-9155Email: Ryan@CravitzFinan...

Taxes don’t disappear in retirement. In fact, understanding tax implications can be even more important when you're reti...
04/08/2025

Taxes don’t disappear in retirement. In fact, understanding tax implications can be even more important when you're retired.

In this video, we talk through 4 tax questions you should ask your financial advisor before retiring, including:

✅How will my tax situation change once I retire?
✅Are there strategies to reduce my tax liability in retirement?
✅Should I consider a Roth conversion before I stop working?
✅What are the tax implications of withdrawing from my various accounts?

Taxes don’t disappear in retirement. In fact, understanding tax implications can be even more important when you're retired. In this video, we talk through 4...

Before you retire, there are very specific questions you should ask your advisor. In this video we talk through those q...
03/12/2025

Before you retire, there are very specific questions you should ask your advisor.

In this video we talk through those questions, which, when answered, can give you a much clearer picture as to whether you are really ready to retire. Those questions are:

Before you retire, there are very specific questions you should ask your advisor. In this video we talk through those questions, which, when answered, can give you a much clearer picture as to whether you are really ready to retire. Those questions are:

➡️Am I financially ready to retire?
➡️What income sources will I rely on in retirement?
➡️How can I minimize taxes on my retirement income?
➡️What adjustments should I make to my investment portfolio?
➡️Do I have enough saved to account for inflation and unexpected expenses?
➡️Do I have a plan for long term care?

And keep in mind, if your advisor can't answer these questions, it might be time for a new advisor.

If you feel like you're ready to retire, but would like to talk it through with a professional, please reach out.

Before you retire, there are very specific questions you should ask your advisor. In this video we talk through those questions, which, when answered, can g...

Let's address the number one fear of most retirees: running out of money. One way to make your nest egg last longer... f...
01/27/2025

Let's address the number one fear of most retirees: running out of money.

One way to make your nest egg last longer... figure out how to keep all of it in your pocket, as opposed to sharing it with the government.

In this video, we discuss how converting your tax deferred accounts to Roth accounts can add years to your retirement nest egg.

Not only might you pay less in taxes in retirement could reap other advantages like keeping your provisional income lower, which could decrease the taxes you pay on your Social Security benefits.

Now is the time to consider Roth Conversions; we are living in a historically low tax rate environment, and those rates are set to increase at the end of 2025.

Let's address the number one fear of most retirees: running out of money. One way to make your nest egg last longer... figure out how to keep all of it in yo...

Retirement planning usually takes place over decades. Checking in with yourself throughout the planning process can keep...
01/17/2025

Retirement planning usually takes place over decades. Checking in with yourself throughout the planning process can keep you on track, but you also need to give your finances a hard look.

In this video, we lay out 5 steps you need to make before you tell the boss goodbye:

1. Decide when to claim Social Security
2. Determine whether you have adequate savings
3. Decide on a withdrawal strategy
4. Schedule check-ins
5. Consult an Advisor

Retirement planning usually takes place over decades. Checking in with yourself throughout the planning process can keep you on track, but you also need to g...

According to the Bureau of Labor Statistics, the average annual expenses for people 65 plus in 2021 was about $52,141.00...
01/09/2025

According to the Bureau of Labor Statistics, the average annual expenses for people 65 plus in 2021 was about $52,141.00, which works out to about $4,345 a month.

But as we talk about here, no two people are alike, so figuring out how much money YOU will need depends on your lifestyle and your unique retirement goals. To determine what you'll need for a comfortable, monthly retirement income, first walk through these prompts:

1. Picture your ideal retirement
2. Create a spending plan
3. Consider common risk factors
4. Build a robust nest egg
5. Create a legacy plan

According to the Bureau of Labor Statistics, the average annual expenses for people 65 plus in 2021 was about $52,141.00, which works out to about $4,345 a m...

Social Security is the backbone of retirement for millions of Americans, but changes could be coming pretty soon. In fac...
12/13/2024

Social Security is the backbone of retirement for millions of Americans, but changes could be coming pretty soon.

In fact, one Congressman asked the Congressional Budget Office to put together a report detailing the impact of changing the full retirement age from 67 to 69.

This change, if implemented, could have huge implications for anyone planning their retirement.

Ryan will break down some of the key takeaways and discuss the implications if the government moves forward with this idea.

Social Security is the backbone of retirement for millions of Americans, but big changes could be coming pretty soon. In fact, one Congressman asked the Cong...

The 2.5% cost of living adjustment reflects a steady decline in inflation. However, it looks like the standard Medicare ...
12/11/2024

The 2.5% cost of living adjustment reflects a steady decline in inflation.

However, it looks like the standard Medicare Part B premium is going up almost 6%!

That likely doesn't mean you'll see a smaller Social Security check in January, but if you're wondering how this will affect you we will walk through the following in this video:

➡️Does the COLA affect when we should claim our Social Security benefits?
➡️How does this jump in the cost of Medicare Part B affect my Social Security check?
➡️How will this COLA affect the taxes we pay on our SS benefit?

The 2.5% cost of living adjustment reflects a steady decline in inflation. However, it looks like the standard Medicare Part B premium is going up almost 6%!...

The IRS has released the 2025 tax brackets with a 2.8% inflation adjustment—the smallest increase in several years.Here'...
11/12/2024

The IRS has released the 2025 tax brackets with a 2.8% inflation adjustment—the smallest increase in several years.

Here's what's changing:
➡️ Standard deduction for married couples filing jointly rises to $30,000
➡️ Single filers' standard deduction increases to $15,000
➡️ Annual tax-free gift limit grows to $19,000 per recipient
➡️ Estate tax exclusion reaches $13.99 million (up from $13.61 million)
➡️ Earned Income Tax Credit maximum increases to $8,046 for qualifying families

Understanding how tax brackets work remains crucial: you're only taxed at higher rates for income above each threshold, not your entire earnings. For example, if you're married filing jointly, you'll pay 10% on the first $23,850 of taxable income, then 12% on earnings above that amount.

Important note: Some provisions aren't changing in 2025, including the $10,000 SALT deduction cap and the $2,000 Child Tax Credit. ⚖️


Source:

The IRS has adjusted tax brackets and dozens of other provisions for inflation. Here's how that will impact your taxes.

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