Retirement in Motion: Fourth Quarter 2021

Retirement in Motion: Fourth Quarter 2021

October 01, 2021

Tips and resources that everyone can use


Knowledge Is Retirement Power

On August 14, 1935, President Franklin Roosevelt signed the Social Security Act. Eight-five years later, Social Security remains one of our country’s most valuable financial resource programs. As of June 2020, over 64 million people (or more than 1 in every 6 U.S. residents) were collecting Social Security benefits. The average monthly retirement benefit is $1,514, or about $18,170 per year. This is just some of the wealth of information you can read about in “Top Ten Facts about Social Security” published by the Center on Budget and Policy Priorities. Check it out at:



At what age am I required to start taking distributions from my retirement plan?

Thanks to the Setting Every Community Up for Retirement Enhancement Act (enacted on December 20, 2019), the age at which the Internal Revenue Service requires you to begin taking required minimum distributions (RMDs) was raised from age 70½ to age 72. You must take your first RMD by April 1 of the year after you turn 72. Subsequent RMDs must be taken by December 31 of each year. Note that if you delay your first RMD until April, you’ll have to take two RMDs your first year. The first will still have to be taken by April 1 and the second by December 31.


Tools and Techniques

Have you increased your retirement plan contribution this year? If not, no worries — there’s still time! After all, it probably only takes 3 minutes by the time you log in to your account and click on the appropriate account management tool. The question is: where are you going to find the money? One easy way to find extra money is to review your homeowners insurance policy. Raising a $500 deductible to $1,000 can cut your annual premium up to 25%, according to the Insurance Information Institute. And, increasing the $250 deductible to $1,000 on your car insurance could save you up to 40%.



This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal or investment advice. If you are seeking investment advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

Kmotion, Inc., 412 Beavercreek Road, Suite 611, Oregon City, OR 97045;

©2021 Kmotion, Inc. This newsletter is a publication of Kmotion, Inc., whose role is solely that of publisher. The articles and opinions in this newsletter are those of Kmotion. The articles and opinions are for general information only and are not intended to provide specific advice or recommendations for any individual. Nothing in this publication shall be construed as providing investment counseling or directing employees to participate in any investment program in any way. Please consult your financial advisor or other appropriate professional for further assistance with regard to your individual situation.



RP-737-0821 Tracking #1-05184217 (Exp. 08/22)