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Meet Sophia and Mark Sophia (52) and Mark (57) live in the beautiful red-rock desert town of Sedona, Arizona. Mark works full-time as a project manager, while Sophia runs a freelance graphic design business from home. Together, they enjoy hiking, visiting local art galleries, and dreaming about the next phase of life—retirement. Their goal is…
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Deciding when to claim Social Security benefits is one of the most important financial decisions you’ll make in retirement. Get it right, and you could maximize guaranteed income for the rest of your life. Get it wrong, and you might leave tens (or even hundreds) of thousands of dollars on the table. So, when is…
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Meet the Sandovals: Retired at 60, Raising an 8-Year-Old Michael and Laura Sandoval have just stepped into retirement, both at age 60. After decades in demanding careers—Michael as a systems engineer and Laura as a healthcare administrator—they decided it was time to enjoy a slower pace of life and more time with their 8-year-old son,…
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Roth IRAs offer tax-free growth and tax-free withdrawals in retirement—but only if you follow the rules. One of the most misunderstood aspects is the “5-year rule”, which plays a different role depending on your age and what kind of withdrawal you’re making (contributions, earnings, or conversions). Let’s break down how the 5-year rule works before…
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Meet James and Renee James (60) and Renee (58) live in Asheville, North Carolina—a charming mountain town known for its arts scene, outdoor beauty, and laid-back lifestyle. James recently wrapped up a 35-year career as a mechanical engineer, while Renee is planning to leave her job as a school counsellor in the next two years.…
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Annuities come with bold promises: “7% guaranteed growth!” “Lifetime income you can’t outlive!” Sounds great, right? But when you peel back the layers, many annuities—especially indexed annuities—are packed with fine print, restrictive rules, and disappointing returns. In this post, we’ll break down a real indexed annuity case study and compare it to a simple 60/40…
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If you’re approaching age 73 (or 75, depending on your birth year), the IRS requires you to start taking Required Minimum Distributions (RMDs) from your retirement accounts. But what if you have multiple IRAs? Can you take the RMD from just one? Should you consolidate? What are the risks and benefits? Let’s break it all…
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When Melissa and James Carpenter wrapped up their final year of work in San Diego, they were riding high. Melissa (60), a recently retired software project manager, and James (62), a mechanical engineer turned hobby woodworker, had saved diligently and lived modestly. With no debt, grown children, and a $2.3 million portfolio, they assumed the…
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Saving for retirement can feel like a distant priority—especially when you’re juggling bills, family expenses, and career goals. But if there’s one financial move that can dramatically improve your future security, it’s contributing to a 401(k) plan. Whether you’re just starting your career or nearing retirement, understanding the power of a 401(k) can help you…
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When it comes to retirement planning, most people focus on securing income for their own golden years. But if you’ve done well financially and your goal is to pass on wealth to your children, there’s another crucial piece to the puzzle—how you leave that money behind can matter just as much as how much you…