SummaryIn this episode, Kolin and Kyle continue their case study of a married couple with $2 million in assets who are close to retirement. They discuss the income plan, tax planning, and investment strategies for the couple. The income plan includes exploring spending options, maximizing Social Security benefits, and choosing a withdrawal strategy. The tax planning focuses on proactive Roth conversions to lower long-term tax bills. The investment strategy involves setting aside three years of portfolio income in stable assets and adjusting spending based on portfolio values. The key takeaways include the importance of comprehensive planning, the need for proactive tax strategies, and the benefits of aligning all financial aspects of retirement.Takeaways‣ Comprehensive retirement planning involves considering income, tax, and investment strategies.‣ Proactive tax planning, such as Roth conversions, can save significant money in the long term.‣ Setting aside three years of portfolio income in stable assets can help mitigate sequence of returns risk.‣ Regular monitoring and adjustment of the retirement plan is necessary to adapt to changing circumstances.‣ Aligning all financial aspects of retirement, including investments and advisors, is crucial for a successful retirement plan.
