Speaker: Mr. Hilton Kelly of Roger Auger and Associates, Nonesuch River Plaza, 51 US Rte. 1, Suite S, Scarborough, ME 04074, Toll free phone (866) 515-4200 or (207) 883-4200, or e-mail at Hilton.firstname.lastname@example.org
- A) It’s not all about money.
- B) The “Number” is determined by:
1) Needs -a) Mortgage, b) Medical expenses, c) Insurance premiums, d) Taxes, e) Prescriptions, f) Living expenses, ie. food, utilities, etc., g) Uncertain needs such as loss of pension, loss of spouse, illness, care of parents or children.
2) Dreams (choices)-a) Travel, b) Hobbies, c) Entertainment, d) gifts e) Home improvements
3) Legacy a) Major gifts to family, charitable organizations or trusts
- C) $2,409,804 is needed to provide an income of $100,000 assuming a withdrawal rate of
4.15%, an investment rate of return (yield) of 7%, and tax rate of 25%
- D) Small withdrawals early in retirement allow funds to last much longer.
1) Part-time employment helps minimize early withdrawals as well as adding more
“purpose” to life.
- E) Peace of mind is important.
1) Asset allocation or balanced investments should be congruent with risk tolerance.
2) Long term care planning is vital.
- a) Where will you live in the latest stages? How much will it cost?
- I) Nursing home
- II) With family
III) At home
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