Needs
Income
Bob pension will be $1500 in Oct 2023
Earning for assets
Funds held out of plan for bridge goal
60k
$4000 per month from assets
Pension
currently $2000
Social Security
Nov 2023 - $3000
assumptions
30k travel need/ 20k annually
60k electric car
100k to remodel house- put in lift
100k crave out for SPCA
300k Emergency reserve
6k min- 8k desired
income need will go down in May 2023 by 2k and again in Nov 2023 by 2k. Assumptions made that inflation push expense enough to still require assets to subsidy income
Bob and Sue
Value
Grandkids
college funds needed
100k
Social Liberal, Fiscal Conservatives
Balance
Joy
Family
Son
Support
100k for house or ?
Personal Freedom
Interests
Time with Frienda
Enlightenment
Fun
travel
seven wonders of the Ancient World
art
Assets
Target Emergency Reserve
200-300k
Trust
Inheritance
2mil
Home
1.2
Plan to spend 100k +/- to rehab/remodel home. NOt major construction- more comfort items
Live in home until no longer comfortable
bob
US Davis
Franklin Funds and personal banking
This is where extra cash will live - rate decent at 1%
Hi, Nancy. We don't understand this bit. Thanks, Evy
45k
Rollover IRA
102k
sue
Roth
139k
IRA
56k
SEP
123k
advise
consider longevity choices- such as home maintenance done by other etc. no more gutter cleaning!
Focus on remodel that will add to YOUR home enjoyment
Goals
80k per year income
Generate income to Bridge 2022-2023
financial freedom
Lifestyle
pursue new personal interest
relaxed freedom to travel
