Retiring at 62 with $1,000,000 in Savings. In this case study, Troy Sharpe, CFP®, starts off with a couple both 55, One spouse has $350,000 in an IRA and the other spouse has $150,000 in an IRA, Can they retire at 62 with $6,000 per month in income? When should they take Social Security? Should they do a Roth Conversion? How much can they save in Taxes?

00:00 Introduction
01:01 Maintaining Purchase Power
02:35 Social Security at 62?
03:08 What if Scenario
05:07 Cash Flow Charts
07:00 Monte Carlo Simulation
11:39 Cash Flow Chart 2
17:18 Bad Timing Scenario for Social Security
19:33 Is this Strategy Right for You?
21:49 Contact Us



Working with a CFP® professional can be an important step toward reaching your financial goals. Not only do these advisors meet rigorous education and experience requirements, but they are also held to some of the highest ethical and professional standards in the industry.

Education
CFP® professionals must master nearly 100 integrated financial planning topics, including:

- Investment planning
- Tax planning
- Retirement planning
- Estate planning
- Insurance planning
- Financial management

In addition to completing a comprehensive financial planning curriculum approved by the CFP Board, or equivalent academic coursework, CFP® professionals are required to complete continuing education coursework, including a CFP Board approved code of ethics course, to ensure their competence in financial planning.

Examination
CFP® candidates must pass a comprehensive 6-hour CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. The exam is notoriously difficult and only 64% of people who took the exam in 2017 passed. Based on regular research of what planners do, the exam covers:

Establishing and defining the Client-Planner relationship
Gathering information necessary to fulfill the engagement
Analyzing and evaluating the client’s current financial status
Developing recommendations
Communicating recommendations
Implementing recommendations
Monitoring the recommendations
Practicing within professional and regulatory standards

Experience
CFP® professionals must have a minimum of three years experience in the personal financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess financial counseling skills in addition to financial planning knowledge.

Ethics
As a final step to certification, CFP® practitioners agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, that sets forth their ethical responsibilities to the public, clients and employers. CFP Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct.

Do you have a retirement plan that goes beyond allocating funds to truly fit your needs? We can help you create a retirement life plan customized for your retirement vision and legacy. Call us at (877) 404-0177

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If you have $500K or more and would like a partnership with a firm to help you manage your investments and financial plan as in these videos, click on this link to connect with our advisors: https://click2retire.com/55with500k