Video Description

If you're retiring with a pension and $1 million or more saved, it's likely that you're a Midwestern Millionaire. In this episode of Joe Knows Retirement, Joe shares what a Midwestern Millionaire is and talks about how their pensions, savings, and spending habits put them in a unique spot in retirement. He also stresses the importance of working with a professional team to maximize your tax savings and purpose with your money in retirement. 📞 Schedule a call with our team: https://peakretirementplanning.com/schedule-a-meeting/ 🎥 Subscribe to our channel: https://bit.ly/430T9Lv 📚Get a FREE copy of Joe’s book "2% Club": https://keap.page/bsd964/2-percent-toolkit-yt.html 🟥 Read our latest article featured in Kiplinger: https://www.kiplinger.com/retirement/opportunities-for-wealthy-people-retiring-with-a-pension #retirement #retirementplanning #pension Timestamps: 00:00 Intro 01:03 Are You in the 2% of the population? 05:11 The Midwestern Millionaire 06:59 Spending money 08:44 Tax planning 13:57 Widow's penalty 16:23 Legacy planning 17:56 The importance of working with a professional team Disclaimer: Since we do not know your specific situation, none of this information can serve as tax, legal, insurance, or financial advice, and may be outdated or inaccurate. The information comes from sources believed to be reliable but cannot be guaranteed. This content is prepared for educational 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. Peak Retirement Planning, Inc. is a Securities and Exchange Commission registered investment adviser and able to offer advisory services in Ohio and in other states where registered or exempt from registration.