Jim Lorenzen, CFP®, AIF®
Scott and Linda (not their real names) have done everything right: They’ve worked hard, saved and invested wisely, and did all the right things.
But now, as they head toward retirement (he’s in his mid-fifties) he’s concerned about:
- What the federal debt means for income taxes during what could be three decades of retirement.
- Just what it would mean if they’d need long-term elder care later.
- What would happen if they had a major unexpected financial set-back or outlay at a time when the markets could ‘melt-down’ again.
- Whether all their assets will provide them with cost-of-living increases should the above happen.
They have a comfortable retirement planned and they have adequate assets, but the tax and inflation questions are enough to make them consider a further diversification approach that might help them ‘cover their bases’ without giving up control of their money.
If you have over $500,000 in taxable investments (outside your 401(k) or IRAs) and are in your mid-50s, this case study might be of interest to you.
You can learn more and access it here.
While I hope you find it informative, I would caution that no strategy should be implemented unless it’s part of a comprehensive financial plan; so, this is information you may find interesting, but not advice to be acted upon.
Jim
Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® serving private clients since 1991. Jim is Founding Principal of The Independent Financial Group, a fee-only registered investment advisor with clients located across the U.S.. He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.
