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How can we secure a healthy financial income in our retirement?

I am 62 years and my wife is 50. I am making $150K a year and my wife makes $80K a year. I have a 401(k) plan with a $600K balance and my wife's 401(k) plan has a  $100K balance. I have a $500K adjustable rate mortgage with an interest rate at 2.125%.
What is your advice on how to secure a healthy financial income in retirement? We both plan to retire in 5 years.

Financial Planning, Retirement
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July 2016


Thank you for your question and the information you shared. Each persons (couples) financial situation is unique and should be planned for accordingly.  I would suggest you start by thinking about what your hopes, dreams, and goals are.  Once you have crystallized those, you could go through a comprehensive process with a CFP professional to prioritize your goals and put a plan in place to accomplish everything you desire.

It is important to find an adviser that you like, one that shares similar philosophies, one that you connect with on a fundamental level. Once you have this established, building trust and a financial plan is much simpler.

Best Regards,

Derek Notman

July 2016
July 2016
July 2016
July 2016