In this video, we dive deep into the world of retirement planning for those hitting the big 40! Join me as we explore the financial journey of Joe and Jane, a married couple both aged 40, with a combined income of $275,000.

We'll compare their retirement savings, totaling $355,000, to the average balances in 401(k) and IRA accounts from Fidelity and Empower. Discover where they stand and how their savings stack up against others their age.

But it doesn't stop there! We'll discuss strategies to boost your retirement savings, including working longer, adjusting goals, and optimizing contributions. Plus, we'll uncover the power of backdoor Roth IRAs and after-tax contributions.

Don't miss this insightful analysis that could make a significant difference in your retirement plans. Click now to secure your financial future!

0:00 Intro
0:36 Base Facts of Retirement Plan
1:39 Empower Average 401k Balance by Age
3:30 Fidelity Average Retirement Balance
4:35 Vanguard Average Retirement Balance
8:45 Fidelity 45% Rule
9:29 40-Year-old Financial Plan Walk-Through
13:08 Roth IRA Income and Contribution Limits
15:06 Social Security Maximization
17:27 When to contribute to your Roth IRA Vs. Traditional IRA
18:05 When to do a Roth Conversion
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Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.

TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™

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