Your Financial Pharmacist YFP 261: YFP Planning Case Study #2: Planning for Retirement, Saving for Kids’ College, and Paying Off Debt
Jun 23, 2022
37:32
YFP Co-Founder & Director of Financial Planning, Tim Baker, CFP®, RLP® is joined by YFP Planning Lead Planners, Kelly Reddy-Heffner, CFP®, CSLP®, CDFA®, and Robert Lopez, CFP® to walk you through a financial planning case study on planning for retirement, saving for kids’ college, and paying off debt.
Key Points From This Episode
- Getting to know Fiona and Rob Anderson.
- The home, work, and financial portfolios of our case study couple.
- Fiona and Rob’s investment accounts and insurance policies.
- Diving into tax concerns.
- Your children’s education versus building your retirement fund – conflicting goals.
- How to prioritize conflicting goals.
- Some innovative ways to lower the costs of college/university.
- How to use 401Ks, RSUs, and other investment accounts wisely, for investing in your goals.
- Delaying retirement and waiting to claim Social Security.
- A closer look at whether their particular investment accounts work for their specific goals.
- Unpacking the target date fund and traditional IRA.
- What to consider when paying a mortgage in retirement.
- Your age concerning your debt, and if there is reason to panic.
Links Mentioned in Today’s Episode