56-year-old Couple w/ $655k Wants $15k/month of Guaranteed Income in 10 Years! (How much do they need to save?!)

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

⭐️ Here are the details ⭐️

✅ Nancy & Drew are 56

✅ They want $15,000/month of guaranteed income in 10 years

✅ They have $220,000 in an old 401k

✅ They have $300,000 in a CD

✅ They have another $200,000 in cash

✅ They want to aggressively save to maximize their retirement income

✅ They will receive $5,190/month of social security at their full retirement age

⭐️ Step 1: Determine Savings Goal ⭐️

✅ Nancy & Drew are committed to saving $100,000/year until they can retire with $15,000/month

⭐️ Step 2: Position Old 401k & Cash as Future Guaranteed Income ⭐️

✅ $400,000 total rolled over into 2 separate deferred income vehicles

⭐️ Step 3: Make Annual Contributions to Grow Income Value ⭐️

✅ $80,000/year for 10 years will generate approximately $10,000/month guaranteed for Nancy & Drew’s life

⭐️ Step 4: Invest $20,000 in the Market as well ⭐️

✅ With their remaining $262,000 + $20,000/year at 6%/year they will have $741,363 from investing in the market

✅ This will be used as “fun money” in retirement and allow them to delay social security (and help minimize their taxes on social security)

✅ They will take about $165,000 in the early years of retirement to bridge the income gap

⭐️ The Results at age 66 ⭐️

✅ Nancy & Drew have $14,834/month of guaranteed, lifetime income + $576,363 of flexible spending money

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