Retirement Roadmap Live Webinar

The IFW Retirement Roadmap is the best way for anyone between the ages of 40 and 70 to ensure they are on track for a healthy and successful retirement.

The custom IFW Retirement Roadmap is an essential tool that helps:

  1. Lower of possibly eliminate your taxes in retirement
  2. Mitigate the effects of market volatility on your portfolio
  3. Create strategies to make sure you never run out of money in retirement


The IFW proudly presents the Retirement Roadmap

Retirement Calculators, Articles & Resources

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Common Retirement Questions

In order to retire comfortably you first need to decide on a retirement budget (how much do I need monthly to live comfortably?) Once you have this target dollar amount you should look at all your fixed income sources ie social security, pensions, annuities. Then subtract this number from your goal to establish if there is a gap. If you have a gap you can divide the gap by a certain percentage rate to come up with the lump sum you will need in order to have the necessary income each month. For example if you had a $2,000 a month gap ($24,000.00 a year) you would divide $24,000 by the interest rate you believe you can achieve to determine the lump sum. Thus if we assumed a 5% interest rate we would need approximately $480,0000 lump sum. The devil is always in the details, but this is a very good starting point to determine how much you need. 
The right age to retire depends on each person's unique circumstances and wishes. For some people they want to stop working as soon as they can, while others love their jobs and try to push it off as long as possible. Ideally being in a position to be able to stop working is best in your sixties at some point.
This depends on how long you think you are going to live. Generally speaking the longer you believe you will live the more you should wait until age 70 to begin receiving social security
The best investments for retirement depend on each person's unique circumstances. As a rule of thumb, it is common to have your fixed expenses covered by social security, pensions and annuities and have any additional money invested for moderate growth to help you keep pace with inflation.
To lower your taxes in retirement it is best to have your income coming in from Roth IRA's, life insurance cash values (through a loan feature) social security, If you keep your other income below the standard deduction level of $25,900 for married couples in 2022 and $12,950 for single you can actually be in a zero percent tax bracket in retirement!
An annuity is a financial product most appropriate for those nearing or in retirement. The advantage of most annuities is that your principal is protected and you can have built in guarantees that you will never run out of money no matter how long you live. The devil is always in the details and you should make sure you know all the features, benefits, fees and restrictions.
A fixed annuity guarantees your principal while a variable annuity interest rate is determined by the performance of the sub accounts you direct your money towards. The both may be good products while in retirement, however you should know all the features, benefits, fees and restrictions involved.
This depends on your risk tolerance and risk capacity. For example, someone who has a pension plan that covers all their fixed expenses and does not plan on using their money while in retirement can be more aggressive than someone who has a lump sum of money they need to liquidate each month in order to pay their bills.
This depends on your goals and objectives. If you want to leave a legacy it is important to have permanent life insurance that will ensure a death benefit goes to your heirs. These policies also offer riders that can give you peace of mind if you have long term care issues or a critical illness like cancer or heart disease. The amount of insurance you need really requires an analysis where you calculate your debts and personal goals with respect to leaving money to certain beneficiaries.
It generally makes sense to have a trust in place to handle your assets after you pass away. However, it depends on your specific situation. It can avoid probate, has some tax advantages, allows for flexibility, however it will override any other plans you may have in place.
The best thing to do is consult an Estate Planning Attorney to help address all your concerns as well as put together any necessary documents. It is a good idea to sit down and make a list of all of your assets and property, then decide who will be the beneficiary. You should also decide who would make your health care decisions and be your power of attorney (handling your accounts) in the event you can’t.
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