SummaryIn this episode, Kolin and Kyle discuss a case study of a married couple in their mid-50s who are planning for retirement. The couple has a desired retirement age of 61 for the husband and 62 for the wife. They currently have an income of $270,000 and a desired retirement income of $144,000 per year. Their assets include $3.1 million, with the majority in tax-deferred accounts. At retirement, they are expected to have roughly $4 million. The couple's primary goals are to focus on tax diversification, create a comprehensive retirement plan, and optimize their income and tax strategies. They also discuss the importance of tax efficiency and investment management in retirement planning.Takeaways‣ It is important to have a comprehensive retirement plan that includes tax diversification and tax planning.‣ Consider your desired retirement age and income when creating a retirement plan.‣ Focus on tax efficiency and minimize your tax bill in retirement.‣ Investment management is crucial in retirement planning to ensure the required rate of return and manage risk.‣ Regularly review and update your retirement plan to adapt to changing circumstances.
