For successful professionals who have transitioned or are transitioning to retirement and are seeking assistance with their investment management, tax planning, cashflow planning, and legacy strategy.
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Every decade of your life is different, with different milestones and significant events, some planned and others unexpected. All of our choices have an impact on our financial needs, especially those that will affect your retirement. Our retirement planning process specializes in helping you make decisions in both your late working years and your retirement years to help you retire from work, but not from life.
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Lifetime income replication
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Healthcare considerations
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Estate planning/forecasting
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Charitable gifting and donor advised funds
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Decumulation strategy
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Tax smart strategies
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Investment management
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Tax professional coordination
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Social Security optimization
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Cash flow modeling
Retiree Case Study
A Tax-Smart Retirement Plan for Mark & Lisa
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Overview:
Mark (64) recently retired, and Lisa (60) plans to work a few more years. After decades of saving, they were ready to shift from accumulation to spending—but wanted to do so strategically.
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With $3.5M in total assets, mostly in tax-deferred accounts, they faced key questions:
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How do we create a tax-efficient income plan that lets us enjoy retirement while minimizing taxes?
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When should we claim Social Security to get the most long-term benefits?
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How do we balance spending today with preserving wealth for the future?
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They wanted confidence that they were making the right financial decisions at the right time.
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Challenges:
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Large RMDs in the Future – At 73, required minimum distributions (RMDs) from their tax-deferred accounts could push them into a higher tax bracket.
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Different Retirement Timelines – Mark needed income now, but Lisa’s salary still made tax planning important.
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Social Security Timing – They needed a strategy to maximize benefits while balancing cash flow.
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Wealth Transfer Considerations – While they didn’t have immediate estate tax concerns, they wanted to pass wealth on efficiently.
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Solutions:
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Roth Conversions – Convert up to their tax bracket limit each year while Lisa is still working, then reassess once she retires. This helps reduce future RMDs and taxes.
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Social Security Strategy – Mark delays until 70 for maximum benefits, while Lisa claims at 67 for earlier income.
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Tax-Efficient Withdrawals – Use taxable accounts first, then blend withdrawals from tax-deferred and Roth accounts to minimize taxes over time.
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Wealth Transfer – By shifting funds into Roth IRAs, their children inherit tax-free assets instead of taxable RMDs.
Results:
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Significant lifetime tax savings by reducing future RMDs.
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Increased Social Security benefits by optimizing timing.
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A predictable, tax-efficient income stream that supports their ideal retirement lifestyle.
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A tax-efficient inheritance strategy that balances enjoying their wealth now with securing their children’s future.
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Are You Making the Most of Your Retirement Plan?
Smart planning can help you reduce taxes, optimize income, and retire with confidence. If you're wondering how to make the most of your wealth, we’d be happy to talk.
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This case study is reflective of real client scenarios but does not describe any specific individual. It is intended for illustrative purposes only to demonstrate how Altruist Wealth Management may approach similar situations. Individual outcomes will vary based on personal circumstances, market conditions, and tax laws, which are subject to change. This content is not personalized investment, tax, or legal advice. Altruist Wealth Management is a registered investment advisor offering fiduciary services. Please consult your tax or legal professional for advice tailored to your unique situation.
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