63-year-old Couple with $900k: Can they retire now with $90k/year?!

(don’t forget to checkout the video of this case study too)

💾 be sure to save for later 💾

⭐️ Here are the details ⭐️

✅ Jesse & Becky are 63

✅ Their retirement income goal is $90,000/year

✅ Jesse was the breadwinner & Becky stayed home with the kids

✅ Jesse’s social security will be $3822/month (the max)

✅ Becky has no Social Security so she will draw the spousal benefit (which many people don’t know how to maximize)

✅ They have $900k in retirement accounts (401k’s, IRA’s, etc)

✅ They have $2M of paid-up permanent life insurance to leave tax-free wealth to their kids

⭐️Free $1,922/month of Retirement Income⭐️

Most people aren’t aware of the spousal benefit for social security…

Or, how it actually works.

But, it’s a great resource to use as part of your Retirement Income Plan.

Unfortunately, this free source of retirement income is often left uncollected (simply because people don’t know about it)

How it works:

If Jesse waits until his full retirement age to file for social security…🫢

AND, Becky waits until her full retirement age to file for the spousal benefit, she will get 50% of Jesse’s benefit (without affecting his benefit at all)!

This means that they will have an additional $2000/month of guaranteed income (in additional to all of their other assets and sources of retirement income)

⭐️ $400,000 for 4 years + Defer Annuity & Social Security Income ⭐️

✅ Since their legacy goals are covered by their permanent life insurance policy they truly have the ability to spend every last dollar of their retirement funds (plus they have a buffer against volatility which can double their withdrawal rate from their assets in the market)

✅ They will withdrawal $7,500/month from their investments for the first 4 years of retirement (allowing social security & annuity income to grow)

✅ At 67 they will turn on the Annuity & Social Security Income simultaneously

✅ Their investment account should still have about $100k available (depending on the performance of the market)

⭐️ Final Results ⭐️

✅ $10,300/month of guaranteed income + $100k to spend how they choose

✅ + a guaranteed $2M legacy left to their children that is 100% tax-free

This income plan provides about $26,000 per year of income beyond what they need….(hello vacation budget!)

It also leaves them no possibility of running out of money.

PLUS, If the market does well in the early years of retirement & they can defer social security & the annuity income even longer than anticipated…

They will have another $26,000 per year of guaranteed income for life.

Let’s chat 💬😎