8 things you should stop buying, Can you withdraw from retirement accounts at will?

January 02, 2025 | Read Online

Have you been curious about the average monthly Social Security benefit for retirees? We share the breakdown by age and more information later in this email.

💵 Today’s Top Stories

8 Things You Should Stop Buying This Year

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Can You Withdraw Money From Retirement Accounts at Will?

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💻️ Tech Tip From Kim Komando

A screenshot that scrolls: This is great when you need a record of something that goes off the screen of your phone, like a web article or document. On Android, press the power + volume-down buttons together, then, on the screen, tap Capture more (Pixel) or the down arrows (Galaxy). On an iPhone, hold down on the power + volume-up buttons, tap the thumbnail that pops up, then tap Full Page. Join 575K people who get tech smart with my friend Kim Komando’s free newsletter, The Current.

When will you (or did you) start taking Social Security benefit checks?

It’s apparent based on the sometimes-intense reactions every time Clark broaches this subject on his podcast that people find this to be a personal choice.

Clark plans to wait until his 70th birthday later this year, the latest possible age, to start collecting Social Security checks. (“The best time to take Social Security is to wait as long as you possibly can,” Clark says.)

You can also estimate your future Social Security benefit. The pieces are on the internet. You’ve just got to put them together.

But what is the average monthly benefit amount by age for all retirees?

67: $2,102
70: $2,081
75: $2,156
80: $2,202
85: $2,109
90+: $1,612

📊 Stat of the Day

📄 48 million: Number of options contracts that have changed hands daily this year, a record since the data began getting tracked in 1973. That’s a fifth consecutive year of higher options volume. Often risky, options trading is an example of the type of gambling on the stock market that Clark warns against.

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🎙️ Podcast

YouTube video by Clark Howard: Save More, Spend Less

Robo Advisor vs. Financial Planner and Fidelity Under Fire

In this video, Clark shares how to choose between a robo-advisor vs. financial planner vs. managing investments yourself. Also, Clark often says Vanguard, Schwab, and Fidelity are his three favorite children. But he calls all three out on their flaws—including an important issue with Fidelity investors need to know.

Watch the Full Episode

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.