Mike and Mary

"We need to get organized."


  • Mike and Mary realize that they are in a fortunate situation. They both have pensions and have been consistent savers.
  • They recognize they have resources for income in retirement, but they want to know how to optimize it.
  • What order should they take income from- pensions, Social security, investments?
  • Maintain lifestyle, enjoy time with family, 1-2 trips a year.
  • Leave money for their children


  • Mike worked for small business that had union employees. Mary worked in the public sector.
  • Both had retirement plans - 457 plan and a 403(b) plan.
  • Will retire at 66 which is their Full Retirement Age of Social security.

Areas of Focus

  • Retirement income plan
  • Maintaining investments since they have adequate income
  • Future tax consequences

How We Helped


Step 1

Gathered all their information in preparation for taking them through our process – The Retirement H.E.A.L.T.H. Stress-test©. Since they both had pensions along with Social security, we wanted to test distributions strategies to understand any potential gaps and tax liabilities.


Step 2

Through this, we learned two important things:
  • Both pensions now, Mike claims Social security now and Mary delays until age 70 proved to be best strategy.
  • They will have more income coming than they need when they reach age 72. This created a tax problem.


Step 3

Once the income strategy was in place, we discussed the benefits of Roth conversions. Please see visual for hypothetical benefit to Mike and Mary.


Step 4

These strategies need to be addressed on an annual basis. We have created a checklist to follow.

Related Resources

The Retirement H.E.A.L.T.H. Stress-test

Our modern financial planning process allow us to collaborate together so you can see the bigger pictures. This process was designed with you mind.

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