How To “Retire” With Enough Money, Plus a $4,588,332 Cushion (John & Jane Jones Pt. 9 of 9)

Time has a way of flying by. John and Jane were now 71 years old. This meeting was going to be one of the most important meetings I would ever have with them. This meeting was certain to prove to them that following my advice all these years was going to pay off. As a result, I did a little extra preparation for the meeting by gathering information about the current cash values of their policies and their other assets. Their 401(k)’s had about $470,000 combined. The cash value of

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Why You Shouldn’t Retire, You Should Retool (John & Jane Jones Pt. 8 of 9)

“I am ready to retire,”  John was quick to state at the beginning of our annual meeting. There were several things I wanted to talk to John and Jane Jones about this year since they would be soon turning 60.  But when I heard John say this, my plans for the meeting took a back seat. “Are you serious?”  I asked John.  “Do you think you are ready to retire?” “I have no idea,”  John answered.  “I am making nearly $185,000 a year, which is a lot more than what

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How Much Does College Really Cost? (John & Jane Jones Pt. 7 of 9)

John and Jane met with me regularly, mostly to touch base about their progress as they improved their financial position, or to discuss potential investments. But when their oldest son, Todd, turned 16, we met to discuss a major item that impacted their entire family. Both John and Jane were now 48 years old. During my telephone call to set a time and date for our meeting, John made a comment about how frustrated they were because of their boy. Todd was not a very serious student and his grades

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How to Calculate Rate of Return On A Real Estate Investment (John & Jane Jones Pt. 6 of 9)

“Hello, this is John Jones.  I know we have called a number of times with ‘opportunities’ but this time I think we really have one,” John said excitedly as I answered the telephone early Monday morning before my first appointment. “That is good news,” I said.  “Do you want to tell me about it over the telephone or come in for a sit-down meeting?”  I asked. “How about tomorrow?” John asked.  “We can come anytime you are available.” “I am fairly booked up, but this sounds like an important issue

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Saving For Kids and Avoiding The MEC Limit (John & Jane Jones Pt. 5 of 9)

One week earlier….. “Hello, John how is your day going?”  I initially said when I called. “Just fine, thanks,” John responded.  “I know why you are calling; it has been a few years since we have been able to get together and we need to speak with you because we have been having some big changes in our family.  Jane and I have been meaning to get in touch with you each time we get your email or card in the mail.” “I never want to be a pest, but

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