Aug 19 2022 26 mins
Recently divorced, Bobbie can envision a life for herself that she never had before – one filled with new paths to take and fresh opportunities for growth. But before she can set out, there are a few things she needs to consider as she reestablishes herself and her finances in light of her changing circumstances.
Facts about Bobbie:
- Bobbie is 61 years old and hopes to retire at 65 and utilize her Social Security benefits
- She has about $1.1 million in retirement accounts (401k and IRAs)
- Her home is paid off and is worth about $900,000
- She has little to no debt
- This brings her net worth to about $1.8 million
Bobbie’s Signature Life Plan shows:
- Spendable income of $30,000/year
- Selling her home and moving to a new city where she will purchase a new home
- The taxes and fees at her new home will cost her roughly $28,000/year
- The HOA at her new home will cover unexpected expenses that may occur
- She wants to take a trip every year for the next 20 years. Each trip will cost an average of $15,000.
- Bobbie's Confidence Number is 77
Listen now to hear the strategies and solutions Chip and Jon use to adjust Bobbie’s plan to meet her retirement goals.