In this Wellness Talk, certified financial planners David Witter and Kellen Williams of Financial Harvest Wealth Advisers walk judges through the practical side of looking ahead to retirement; tailored specifically to the Florida Retirement System (FRS) and its DROP program. They break down what makes a judge’s pension uniquely powerful: the elected-officers-class multiplier, the cost-of-living adjustment (a rarity among pensions), and how your contributions, the 5-year cap, and the deferral rules actually add up over a career on the bench.
Beyond the pension, the two cover the other pillars of a judge’s retirement income: Social Security and the trade-offs of retiring at or past your full retirement age, tax strategy across 457, 401(k), Roth, and pre-tax accounts, required minimum distributions, and the effect of income on Medicare Part B premiums. They also look at strategic withdrawals, long-term-care planning, and estate planning, including why leaving Roth rather than pre-tax money can matter to the people you leave behind.
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