Insightful Articles & Education
Retroactive Social Security Benefits – Another Option to Consider
Retroactive Social Security Benefits - Another Option to Consider Article written by Brian Bickett For most...
Full Retirement Age – How does it effect Social Security Retirement Benefits?
Full Retirement Age, sometimes referred to as Normal Retirement Age or the abbreviation “FRA”, is the age at which an...
The Elimination of ROTH IRA Recharacterizations
The Elimination of ROTH IRA Recharacterizations Article written by Brian Bickett The Tax Cuts and Jobs Act of...
Summary of the 2018 Social Security Trustees’ Report
Every year in June, the Trustees for Social Security release their annual report for the previous year. I like to give a High level summary of the report and below is my take on the 2018 information.
Gift Taxes – Who Pays on Gifts Above $14,000?
A common question I hear is who pays the taxes on personal gifts during retirement. I will explain a few scenarios and exactly who will foot the bill come tax time.
Retirement Planning Case Studies
Case Study #1
Nearing Retirement
After accumulating wealth throughout the years, Dan and his wife Carol began thinking about retirement.
They currently hold a variety of investment accounts, including 401ks from different employers, stock options, an ESPP, and multiple brokerage accounts.
They have three adult children (one still in college) and two grandkids. Dan and Carol live modestly, own their home, and look forward to spending more time with family in retirement.
Case Study #2
Retired Without A Plan
Mark and Laura recently retired from rewarding careers and have lots of plans for the future.
They want to ensure that their retirement plan not only enables the lifestyle they have envisioned in retirement but that they have a plan to make sure they never run out of money.
Reducing taxes, improving investments, and creating a reliable income stream in retirement was their priority.
Case Study #3
Recently or Unexpectedly Widowed
Susan loved her husband Robert so. She never thought there would be a day without him there to share more memories, let alone to help guide her through difficult and confusing financial decisions.
After her period of mourning, she needed to be able to see and clearly understand all of her options, which removed a lot of her worries. She was able to move forward with their plans, confident in knowing that she would be well looked after.
(Note: These case studies are hypothetical, do not involve actual Iron Mountain Financial Planning clients, and should not be construed as a guarantee.)