Married 59: The Road to Retirement in 5 Years | Case Study
11/26/24 • 20 min
In this week’s episode, host Kyle Hammerschmidt dives into a detailed case study of "John and Mary," a married couple from Kansas, both aged 59, preparing to retire in five years.
Kyle breaks down their financial landscape, including $1.7 million in tax-advantaged retirement accounts, Social Security strategies, and their goals of maintaining their current lifestyle while minimizing lifetime tax burdens. From restructuring investments to navigating Roth conversions, this episode offers valuable insights for pre-retirees aiming to secure their financial future.
If you're curious about balancing growth, income, and market volatility in your retirement portfolio, or wondering how to make Social Security decisions that fit your plan, this episode is packed with actionable advice.
Connect With Us:
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/
Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website
Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.
In this week’s episode, host Kyle Hammerschmidt dives into a detailed case study of "John and Mary," a married couple from Kansas, both aged 59, preparing to retire in five years.
Kyle breaks down their financial landscape, including $1.7 million in tax-advantaged retirement accounts, Social Security strategies, and their goals of maintaining their current lifestyle while minimizing lifetime tax burdens. From restructuring investments to navigating Roth conversions, this episode offers valuable insights for pre-retirees aiming to secure their financial future.
If you're curious about balancing growth, income, and market volatility in your retirement portfolio, or wondering how to make Social Security decisions that fit your plan, this episode is packed with actionable advice.
Connect With Us:
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/
Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website
Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.
Previous Episode
Six Point Checklist: Hiring a Financial Advisor for Retirement
Planning for retirement is a journey, and choosing the right financial advisor is one of the most critical decisions you'll make. In this episode of Retire Ready, host Kyle Hammerschmidt unpacks the essentials for finding the perfect advisor to guide you through the complexities of retirement planning.
🔑 What You'll Learn:
- The Six-Point Checklist:
- Fee-only financial advisors and why their transparency matters.
- The importance of independence for unbiased advice.
- Fiduciary duty and its impact on your financial future.
- Tax-focused planning to minimize your retirement tax burden.
- Tailored strategies designed for your unique financial goals.
- Why your advisor's age and specialization make a difference.
- Actionable Tips: How to evaluate potential advisors and align their expertise with your retirement needs.
- Real Insights: Examples and explanations to help you navigate the "decumulation phase" with confidence.
Whether you're within 10 years of retirement or on the cusp, this episode equips you with the knowledge to secure your financial future.
Connect With Us:
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/
Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website
Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.
Next Episode
Navigating the Social Security Benefits Application Process
Podcast Description:
In this episode of Retire Ready with Kyle Hammerschmidt, we’re tackling one of the most critical steps in your retirement journey: applying for Social Security benefits. Whether you're planning to claim at 62, hold out until 70, or fall somewhere in between, this episode has you covered with actionable advice.
Kyle breaks down the application process step-by-step, including how to gather the right documents, decide whether to apply online or in person, and track your application once it’s submitted. You’ll also learn how to time your first benefit payment, weigh the pros and cons of withholding taxes, and navigate key decisions that could maximize your benefits.
With relatable stories, helpful examples, and Kyle’s signature straightforward style, this episode demystifies Social Security and helps you make informed choices that align with your unique retirement goals.
Ready to take the confusion out of Social Security? Let’s dive in!
Connect With Us:
Website: https://mokanwealth.com/
Tik Tok: https://www.tiktok.com/@retirewithkyle
Instagram: https://www.instagram.com/retirewithkyle/
Facebook: https://www.facebook.com/mokanwealth
Retire Ready Academy: https://retirereadyacademy.org/
Subscribe to The Retire Ready Weekly Newsletter
Get more information on The Retire Ready Academy
Looking for personalized financial planning? Visit our website
Disclosure: You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. This podcast is intended for educational purposes only. Nothing in this podcast constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. MOKAN Wealth Management is a registered investment adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.
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