56-year-old Couple Wants a 10-year Max Income Spenddown + Lifetime Income (to delay social security)

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

💾 be sure to save for later 💾

⭐️ Here are the details ⭐️

✅ Rick & Lori are 56

✅ They need at least $15,000/month of retirement income for life

✅ They currently have real estate income of about $4,000/month

✅ They want to liquidate $1.1M in the first 10 years

✅ They then want to switch on guaranteed, lifetime income

✅ They have a $800k long-term care that will transfer tax-free if not used

✅ They have $2.2M in total IRA’s

✅ They have $700k in cash and CD’s

✅ They will each max out social security at $4,873/month at age 70

⭐️ First 10 Years — $1.1M Investment Spend-down ⭐️

✅ They will take $12,000/month from $1.1M Investment Account

✅ This should comfortably last the first 10 years of retirement

✅ Their goal is to spend this all travelling and spoiling the grandkids while they’re still young

⭐️ Year 11 — The Lifetime Income Backstop ⭐️

✅ Immediately upon retiring they will place $1.2M into a deferred income annuity (which will offer guaranteed income growth + performance-based market growth with no risk of losing the principal)

✅ They won’t touch the income from the annuity for the first 10 years of retirement (they will just allow it to continue growing at a guaranteed rate)

✅ This provides protection from market losses plus income insurance for longevity

✅ Their plan is to “turn on” this income after exhausting their investment account

✅ This will generate a guaranteed $173,000 of income for the rest of their lives starting in the 11th year of retirement (and more if the market does well and they can hold off collecting it)!

⭐️ Social Security Income Bonus ⭐️

✅ Social Security will provide them almost $10,000/month of additional income if they delay until age 70

⭐️ Retirement Results (with Social Security + Annuity Income)⭐️

✅ $29,000/month guaranteed from age 70 on (even if they live to past age 100)

Let’s chat 💬😎