Thinking About Retiring Abroad

Michael Hoeflinger, CFP® Wealth Manager

Retiring and moving abroad has been become very popular over the last 20 years but it can have its own set of unique problems. Our guide will help navigate some of the unexpected or not commonly thought about pitfalls.

In the U.S. alone, there are 10,000 baby boomers retiring every day, a trend expected to continue for the next 15 years. This means that about 3.6 million Americans are retiring each year. And more Americans are retiring outside of the U.S. every year, as evidenced by almost 375,000 retirees receiving their Social Security checks overseas in 2013 (the latest data published by the Social Security Administration).

The dollar has appreciated against most foreign currencies. Thanks to this exchange rate, purchasing property overseas has become relatively reasonable and certainly much less expensive than the purchase of similar property here in the U.S. The cost of living in most overseas locations is a good deal less, which means you can maintain a better lifestyle and your savings will last longer.

In addition, although the cost and quality of health care varies substantially from country to country, there are many overseas locations that offer health care services similar to what is provided in the U.S. and usually at a great deal less.

As you research overseas locations you should select some destinations and check to see how they compare to your needs and expectations. Considerations should be:

Lifestyle/cost of living. Is the beach important, what about restaurants, shopping, skiing, the arts, etc.? Do you want to live near the mountains or near the beach or even both? What lifestyle will your budget provide?

Climate. Many overseas retirement destinations are hot and humid, while some can be chilly and others have a rainy season lasting several months. How does climate affect your decision?

Health care. Do you have medical problems or a medical condition that requires special medical attention or require that you live near a hospital? What kind of health care is available in the country you select, what are the costs and is this available locally?

Time to travel/ease of travel. If you plan to return often to the U.S. to visit friends and family, or if you want them to visit you; if you have health issues and need to return to take care of them this is an important consideration.

Safety. If you don’t feel safe, you may not feel comfortable in certain overseas locations.

Politics/government/local laws/stability. How comfortable are you living in a country with anti-American leanings, or where you must be careful with your interactions with the police or local politicians?

Natural disasters. Some places have hurricanes, volcanoes, earthquakes, flooding, etc. and their infrastructure is not set up to handle them.

The arts. How important is access to museums, opera, symphony, ballet, theater?

Sports. Do you wish to play golf, tennis, ski, run, bike, hike, scuba dive, or climb mountains? Do you wish to be able to attend professional or amateur sporting events? Is it important to view sporting events on TV?

Shopping. Is shopping important to you? What about shopping for food, clothes or staples?

Language. Are you comfortable in a country where English is not the native language and perhaps is not spoken or understood by many of the locals?

As you do your research on retiring, relocating abroad check out:

Beware of Scams

Land scams are prevalent in many countries where Americans plan their retirement. Check any projected purchase carefully with regard to the legitimacy of the seller as well as the laws governing ownership by non-local as well as foreign nationals.  As an example in Mexico’s Baja peninsula a few years ago, many U.S. retirees learned that deeds on their beachfront property were not valid, as they did not meet certain provisions of a national-security statute that permits only citizens to own land on.

 

The “International Living” Top 10 List

ECUADOR  Ecuador is the best country in the world to retire to. The country gets top scores in the Buying and Renting and Climate categories and scores high across-the-board in all other categories. Expats are drawn by the low cost of living, perfect climate, the beautiful and diverse landscapes and the favorable retiree benefits.

PANAMA When it comes to the Benefits and Discounts for Retirees, Panama has always ranked at the top with a perfect score of 100. No other country does more for retirees. Panama has been a long-time expat haven mostly for its famed Pensionado visa discount program available to anyone with a pension of over $1,000 a month. The Pensionado visa gives retirees 50% off their entertainment expenses, 25% off airfare, restaurants, electricity and phone bills and 20% off medical services. It’s pretty easy to get back to the U.S. from Panama, and it is possibly the friendliest country toward North Americans. It also has the fastest Internet and best roads in Central America.

MEXICO  Due to its proximity to the U.S., the comforts of home are never far away in Mexico. Established expat havens in communities such as Puerto Vallarta and San Miguel de Allende ease the integration process, while excellent property can still be found for far less than you’d pay in the States.

MALAYSIA Every year, more and more expats are waking up to the amazing opportunities Malaysia has to offer. The country has one of the most robust economies in Asia and this is reflected in the consistently high standard of living available to locals and expats alike. It’s just one of many factors that led it to being ranked the highest Asian nation in this year’s International Living index.

COSTA RICA  Costa Rica scores high points across the board, especially in the Integration and Entertainment and Amenities categories. Costa Rica is a hugely popular retirement haven for the climate, neighborly atmosphere, low cost of living, excellent health care, stable democracy and countless ways to have fun.

MALTA AND SPAIN (tied) Tiny Malta enjoys plentiful sunshine year-round, on top of world-class health care (consistently ranked among the Top Five in the world by the World Health Organization) and tasty Mediterranean cuisine. The European island also has one of the lowest crime rates to be found anywhere. For those seeking sun and affordable living in Europe, Spain remains by far the best option available, evidenced by its standing as one of the highest-ranked European nations.. Although not as cheap as in most of Latin America, property in Spain is often of a high standard and far better value than in many other European countries. Likewise, Spain’s cost of living is lower than what you find in much of Europe.

COLOMBIA For North American retirees heading south, Colombia is becoming an increasingly popular choice. Given all that this diverse country has to offer, it’s not difficult to see why.  Colombia has an incredibly low cost of living. A couple can live comfortably on just over $1,200-a-month here.

PORTUGAL Portugal’s mild climate, its low cost of living and its largely First-World infrastructure make it an increasingly popular European option. English is widely understood, especially in the large cities and — combined with the warm Portuguese hospitality — makes it easy to settle in and feel at home, whether you prefer sophisticated urban environments like Lisbon or one of Portugal’s many beach communities.

THAILAND As Asia’s appeal to North American expats continues to grow, Thailand has become a popular destination. The country combines the best of authentic Asian cuisine and culture with enough North American influences to help you feel at home. Thriving expat communities already exist in the larger cities, such as Bangkok and Chiang Mai, and resort areas, such as Phuket and Hua Hin.

Some Countries that Were Not Ranked 

Why are so many countries not included? Places like Australia, Israel, Japan, Germany, much of the Caribbean and all of Scandinavia. The primary reason is a higher cost of living for some of those places and the weather.  Most retirees are looking to never drag heavy coats around with them.

Sites that will help you with your research
There are too many websites that only tout the advantages of moving overseas, without listing the negatives.  To get both sides check out this Best Places in the World to Retire as it lists over 4,500 answers to questions provided by experts.  Visit https://bestplacesintheworldtoretire.com/location-advisor to determine the best places for you to consider. Here you can read information either written by “real life” retirees or based on interviews with them.

Retire in Asia provides information on the best cities in Asia that you should consider as well as visa requirements, etc. Visit http://www.retireinasia.com/best-retirement-cities-in-asia/

Insurance.  Retirees living abroad may or may not have access to local health care unless they have health insurance. Check carefully to make sure you have coverage and access to adequate healthcare. You may have to port healthcare insurance with you. Visit http://www.imglobal.com/en/img-insurance/international-health-insurance/global-medical-insurance.aspx for information. Another resource for researching insurance and medical plans is Travel Insurance Review. Visit http://www.travelinsurancereview.net/ to reach this site.

Affordability:  http://www.cbsnews.com/media/the-worlds-most-affordable-places-to-retire-57590476/

Tax implication:  IRS.gov provides you with the tax implications (click the international taxpayers section).

Money calculator: xpatulator.com helps you calculate how far your money will go in 300+ countries

Filing U.S. Taxes Can be a Problem

Unfortunately there are some confusing rules and a great deal of paperwork involved. Expatriates must file tax returns in the U.S. if they remain U.S. citizens. Preparing a return is complicated as, for example, in addition to filing a tax return expatriates must also file two separate forms reporting their foreign savings, stock holdings, life insurance, retirement plans, annuities and other financial information. All amounts must be converted from local currencies into U.S. dollars.  Most retirees living overseas need professional help in preparing their taxes as the fines for even unintentional are substantial.

What You Need to Know to Open a U.S. Brokerage Account from Overseas

Many Americans who retire abroad discover that it’s difficult to maintain or open a U.S. brokerage account from overseas. Some brokerage companies you may have worked with for years say that since you’ve left the U.S. they can no longer trade mutual funds for you, give you advice, or provide services for other issues.

Despite what the brokerage firm may say, there are no laws against you keeping your assets in the U.S. while you live somewhere else. In most cases, you can continue to handle your American stocks, bonds, mutual funds, and bank deposits when you live overseas; however you need to know what forms you’ll have to sign, what are the address requirements, and what investments you can and cannot hold.

It is advisable to discuss with your attorney and CPA which options may be a better choice for your unique situation.

Feel free to contact Michael Hoeflinger, CFP®  with any questions by phone 305.448.8882 ext. 241 or email: MHoeflinger@ek-ff.com

[i]”The World’s Best places to Retire.” International Living. N.p., 2016. Web.

[ii]”Best Retirement Cities in Asia.” Retire in Asia, 1 Mar. 2013. Web.

[iii]”International health Insurance/ International Medical Group.” N.p., n.d. Web. <www.imglobal.com/en/img-insurance/international-health-insurance/global-medical-insurance.aspx>.

[vi]”The World’s most affordable places to retire.” Ilyce Glink, 27 June 2013. Web.

[v]”International tax treaties.” N.p., n.d. Web. <www.irs.gov>.

[vi]”International Cost of Living Calculator.” N.p., n.d. Web. <www.xpatulator.com>.

Just turned 30? Don’t place saving for retirement on the back burner

Katherine Sojo, CFP® Financial Advisor

You are in your 30s and it is just scary…

At this point in your life, you hopefully are a little more put together than you were in your 20s. Your career path is not as foggy and blurry as it was in your 20s and your bank account is not as lifeless as it used to be. Many people in their 30s begin to make major life decisions around this time, whether it is taking out a mortgage on your first home, planning a wedding or having children — all of which are excessively and unreasonably expensive! Your 30s bring along all those grown-up things you wished you were able to do at 13 when your parents would always say, “Enjoy your childhood; growing up is a trap!” The joke is on us now! Most people are not thinking about retirement when they are in their 30s, and it’s a pretty big mistake. It is important to start planning and saving as early as possible for this goal. Every cent you stash away now will grow in a tremendous way, all thanks to compounding interest.

It’s time to start asking some serious questions. For example, what type of lifestyle do you want to maintain during retirement? How much do you need to have at retirement to maintain that lifestyle? At what age do you want to retire? There are online tools available to consumers that offer free advice to help answer these questions, but these tools are generally not reliable. Harold Evensky, founder of Evensky & Katz / Foldes Financial Wealth Management, presented an academic study involving 36 online retirement tools and found that in the attempt to keep the tools simple, they actually destroyed the legitimacy of the conclusions. The tool we use is called MoneyGuide Pro, a robust program that requires time spent answering personal questions such as family longevity, personal health, 401k savings, Social Security, expenses and much more. Our tool gives us the capacity to help with major life choices such as buying versus renting, how much you should actually spend on that wedding, etc. These results are a road map and are not to be interpreted as an absolute answer, since many assumptions are used.

The next step is to decide which retirement vehicle will help you best accomplish your retirement goals. First look to your employer and make sure you are participating in your employer-provided 401k if one is available. If you have the financial ability to maximize your contributions, do it! The max contribution limit for 2016 is $18,000. If not, at least make sure you are contributing the amount necessary to receive the employer match. Think of the employer match as “free money.” It is also important to increase, gradually, your contribution percentage over time and eventually begin saving, as a good rule of thumb, between 10% and 15% of your salary.

After you have exhausted your employer-provided options or in the event your employer does not offer a retirement plan, begin saving outside of work in an Individual Retirement Account (IRA). There are two types of IRAs.

1. Traditional IRA: This type of account generally uses pre-tax funds and allows a contribution limit of $5,500 for 2016. The contributions made to an IRA, depending on your current circumstances, may be fully deductible on your tax return. Additionally, these assets are tax-deferred until the time of distribution, typically after age 59½.
2. Roth IRA: This type of account uses after-tax funds, which means you have already paid taxes on the money you are putting away but the earnings grow tax-free. The contribution limit for a Roth IRA is $5,500 for 2016. You are not required to cash out a Roth IRA at any time, unlike a traditional IRA from which you must begin distributions by age 70½.

Deciding between a Traditional IRA and a Roth IRA can be a bit tricky, but consider a couple of factors before making a decision. For instance, if you are in a low tax bracket, a Roth IRA is beneficial since you pay taxes on the funds now at a lower rate and the earnings are tax free. If you are currently in a high tax bracket, but expect to be in a lower tax bracket during retirement, then a Traditional IRA is beneficial since the money will be taxed at a lower rate at the time of distribution. Both the Traditional IRA and the Roth IRA have phase outs based on income limits, and depending on where you fall within these limits one may be better than the other. We work closely with our client’s CPA and have our own tax resources to help a client decide on the best option to meet their retirement needs.

Once the best retirement vehicle has been decided on, it’s time to begin thinking about investing your retirement money prudently and efficiently. This may be the right time to speak to a Certified Financial Planner in order to evaluate your risk tolerance levels and analyze your financial health. There is no rule of thumb for investing. Just because you fall into the same age group as others does not mean you should have the same investment allocation. Every person is different and some may prefer more risk (i.e., more potential growth). Others may not be able to tolerate market movement and would prefer a more conservative allocation (i.e., preserving capital and keeping up with inflation). Asset allocations are tailor-made to fit your time horizon, your investment profile and your risk tolerance levels.

Now is the time to learn about setting goals and investing in your financial future. Your 30s are the make it or break it years; let’s make sure you make it!

Feel free to contact Katherine Sojo with any questions by phone 305.448.8882 ext. 243 or email: KSojo@ek-ff.com 

The millennials have just surpassed the baby boomers in numbers. What does that mean to the boomers?

Michael Walsh CFP® Senior Financial Analyst

It is official; there are currently more millennials compared with the previous largest recorded cohort — the baby boomers. The baby boomers, categorized as having been born between 1946 and 1964, are seventy-six million strong. Millennials, also known as Generation Y, were born between 1980 and 2000 and have an estimated eighty million members. This shift in demographics will lead to large changes in terms of the social, financial, and political environment going forward in the United States. The influx of current and future members of the workforce has large implications to Social Security, among many other areas. In fact, the millennials could greatly contribute to stabilizing the current Social Security system.

As the boomers transition to the next stage in their lives, a portion of their income each year will be from the Social Security benefits that they paid into their entire working careers. As the system currently stands, some of the funding of Social Security benefits is obtained through payroll taxes from both currently-employed individuals and their employers. As the millennials complete their education and transition into the workforce, there will be a huge influx of taxes paid that will help provide benefits for those who are currently collecting. Another area that is often overlooked is with regard to how long people are expected to live. As a person’s life expectancy continues to grow due to medical advancements and lifestyle changes, this will lead to more current employees who will continue their careers well into their late 60s and early 70s, not necessarily because they need to keep working, but because they enjoy what they do and want to keep working. Delaying collecting Social Security benefits and more tax revenue paid via payroll taxes could take substantial pressure off the current Social Security system.

Those boomers who have not started collecting should consider using some of the strategies available to maximize their benefits over their remaining lives. Social Security is not going anywhere and taking advantage of deferring your benefits could result in more than $100,000 of additional benefits being paid to you or your spouse over your lifetimes. Statics today show us that if a husband and wife are currently 65, there is a 50 percent chance that at least one will live to age 91 and a 25 percent chance that one will live to age 96. When I asked one of our wealth managers and partners here at Evensky & Katz / Foldes Financial, Dr. John Salter, what he is most worried about in terms of his client, he told me, “Michael, I lose sleep at night thinking not that my clients might die too early, but that they might live too long and run out of money.” Our resident Social Security expert and partner Brett Horowitz said, “Think of Social Security as an inflation-adjusted annuity that will help protect our clients against living too long. You will not be able to live on the French Rivera on your benefits, but they will help maintain your living expenses each year.” Brett often accompanies his clients to the Social Security office and helps them wade through the various options so they make the best, most well-informed choice. Social Security is one of the tools that hedge the risk of people living too long, because even if they run out of portfolio money, they will continue to get a stream of income from the federal government.

With the millennials coming of age, they, as the boomers before them, will have effects on every aspect of life in the United States. Their tax dollars will have a tremendous impact on the United States in terms of social programs, Social Security, and many other areas. With this in mind, the boomers have some choices ahead of them and how they are planning for the next stage in their lives. If you have any questions or want to know about the various Social Security strategies currently available, please click here to request more information.

Feel free to contact Michael Walsh with any questions by phone 305.448.8882 ext. 213 or email: MWalsh@ek-ff.com.

Congress is Killing Social Security Strategies – What Does It Mean For Me?

Brett Horowitz, CFP®, AIF® Principal, Wealth Manager

Congress has decided to close perceived loopholes in Social Security rules and curtail many strategies.  For some, the deadline to enact these strategies is rapidly approaching.  This webinar presentation will begin with an explanation of social security and its rules for individuals, spouses, divorced and widowed individuals.  Social security strategies will be covered in detail along with specific examples and deadlines.  The impact of the Bipartisan Budget Act of 2015 is covered to help you understand the impact it can have and allow you to make an informed decision before it is too late.

 

It’s All About the Income

Brett Horowitz, CFP®, AIF® Principal, Wealth Manager

Success, with a Little Help from Evensky & Katz / Foldes Financial

“The real trouble with this world of ours is not that it is an unreasonable world, nor even that it is a reasonable one.  The commonest kind of trouble is that it is nearly reasonable, but not quite.” – Frederick R. Macaulay

In other words, just when things look stable and one thinks he or she can know what to expect, something occurs to change the current path and that something is unthinkable and unknowable (i.e., Black Swan Theory).  So, if the economy doesn’t move in a predictable pattern and we can’t predict the future, where does our value lie?

To answer that question, we’d like to share three short stories from clients that recently joined Evensky & Katz / Foldes Financial.  Please note that their names and facts have been changed for privacy.

It’s All About the Income

We frequently have spouses that are suddenly thrown into the role of being the main financial decision maker of the household (due to death or incapacity) and this story begins with our client, Richard, who recently lost his father and stepped in to help his mother figure out her financial future.  His father previously assumed the investment role in the family and his mom was left trying to understand the various accounts and strategies.  This was complicated by the fact that there were ten different accounts scattered around, the largest of which was invested mainly (75%) in dividend paying stocks and high-yield (or junk bond) funds, and in aggregate formed a high risk portfolio.  The reason for this mix was that the father had wanted a portfolio that would produce enough income to meet their needs without having to touch the principal.  This strategy meant that when cash and safe treasury bonds yield little, the mix of dividend paying stocks and high-yield bonds must increase, and as a result the risk gets greater in order to provide the necessary income.  This arrangement is ironic as the father and mother were both extremely risk averse!

Richard recently went through our financial planning process and we determined that the account could be invested 70% in high quality bonds, almost a complete turnaround from the current allocation.  This was based on the fact that due to his mother’s specific spending needs relative to her income and assets, a higher allocation to high quality bonds not only lowered the risk, but also provided a higher probability of success.  Using our unique cashflow strategy, we were also able to suggest a much more diversified portfolio by carving out upcoming cash needs.  It was a win-win situation for Richard, since his mom now sleeps better and he would ultimately be responsible for supporting his mother if her assets ran out.  In fact, he is now looking to go through the same exercise with his aunt to ensure that she outlasts her money!

Conclusion

As you can see, clients seek out our services for a variety of reasons, but in the end, they are all looking for something similar.  By providing them with a financial plan that balances their risk tolerance (how much risk they feel comfortable taking) and their retirement needs (how much return they need to meet their goals), our clients can rest easy knowing that we are looking out for them and putting their interest first.  At the end of the day, the fate of our clients will not be based on whether or not we can predict the stock market, but will be based on factors in our control, such as reducing taxes and expenses, diversification, rebalancing, and annual reviews of long-term planning results.  It’s not just that you can’t time the markets, it’s that you don’t need to.

Thanks for reading hope you enjoyed! As always feel free to contact Brett Horowitz with any questions 305.448.8882 x216 or BHorowitz@ek-ff.com

The Co-Pilot

Brett Horowitz, CFP®, AIF® Principal, Wealth Manager

Success, with a Little Help from Evensky & Katz / Foldes Financial

 “The real trouble with this world of ours is not that it is an unreasonable world, nor even that it is a reasonable one.  The commonest kind of trouble is that it is nearly reasonable, but not quite.” – Frederick R. Macaulay

In other words, just when things look stable and one thinks he or she can know what to expect, something occurs to change the current path and that something is unthinkable and unknowable (i.e., Black Swan Theory).  So, if the economy doesn’t move in a predictable pattern and we can’t predict the future, where does our value lie?

To answer that question, we’d like to share three short stories from clients that recently joined Evensky & Katz / Foldes Financial.  Please note that their names and facts have been changed for privacy.

The Co-Pilot

Tina and her husband have been with the same broker for a number of years.  Their portfolio was invested primarily in high quality bonds and they were rarely informed of market events or portfolio strategy changes.  When they were called, they were given a choice of bonds or stocks for investment and it was up to them to make a decision.  Tina has never had any experience investing and was left wondering how she would make the decision based on a complete lack of information.  Just as most of us wouldn’t be comfortable co-piloting a plane if we had no experience flying, she was not at all comfortable being co-pilot of their investment portfolio.  “It’s up to you” was clearly not what she wanted to hear from her “advisor”.  While this may be appropriate for a do-it-yourselfer, she wanted a different relationship.  Tina had never gone through a budgeting exercise and had no idea what she and her husband spent.  She also didn’t know how much in management fees they paid.  While she assumed she was being charged for the services performed, the fees were never disclosed and didn’t show up on any statement or invoice.  Thankfully, Tina’s attorney suggested she contact us.

We developed expense projections to ensure that their conservative portfolio could handle their annual living expenses.  Even though they are fairly risk-adverse investors, the question still remained as to whether they would deplete their assets given their high spending and low expected portfolio returns.  We developed an investment plan and met with them quarterly over the first few years to make sure they were kept abreast of their progress and the markets.  Tina is now so comfortable that she only wants to meet twice a year!  She is so relieved that our fees are openly stated and enjoys the fact that we make the investment decisions for her based on our role as a fiduciaries and registered investment advisors.  It has been a huge relief for her to see us make portfolio changes on their behalf.  After all, monitoring and managing the portfolio is a significant part of what she pays us to do.  She knows that as fiduciaries, we will put their best interest ahead of our own.  She is now enjoying all the free time she has, much to the dismay of her tennis opponents!

Check out our next blog post for the final of the three stories, and feel free to contact Brett Horowitz with any questions 305.448.8882 x216 or BHorowitz@ek-ff.com

Retirement…Hopefully??!!

Brett Horowitz, CFP®, AIF® Principal, Wealth Manager

Success, with a Little Help from Evensky & Katz / Foldes Financial

 “The real trouble with this world of ours is not that it is an unreasonable world, nor even that it is a reasonable one.  The commonest kind of trouble is that it is nearly reasonable, but not quite.” – Frederick R. Macaulay

In other words, just when things look stable and one thinks he or she can know what to expect, something occurs to change the current path and that something is unthinkable and unknowable (i.e., Black Swan Theory).  So, if the economy doesn’t move in a predictable pattern and we can’t predict the future, where does our value lie?

To answer that question, we’d like to share three short stories from clients that recently joined Evensky & Katz / Foldes Financial.  Please note that their names and facts have been changed for privacy.

Retirement…Hopefully??!!

Michael was a 48-year-old doctor earning a pretty good living, but with two children heading off to college in a few years, he needed an investment plan that would help to guide him into retirement at some point in the future.  He needed to know how much he could afford to spend, how much he needed to save, how to fund his kids’ college expenses, and finally, how much risk to take in his portfolio.  To complicate matters, Michael was so busy during the week that he rarely had any time to devote to the research and analysis of these issues.  Sound familiar?

When Michael came to us in 2006, he had just lost almost half of his money in the technology bubble that lasted from 2000 to 2002, and to compensate, had 50% of his money sitting in cash (Never mind the fact that the stock market had been on a tear since 2002.)  He had tried picking stocks and mutual funds based on watching CNBC and reading magazines and newsletters, but to no avail.  It seemed as though as soon as he bought a “five-star” fund, it would under perform compared to the fund he had just sold.  Thankfully he still had his salary and plenty of time to recover prior to retirement and wasn’t in the position of some of his friends that had to go back to work post-retirement!

We put an investment policy into place that detailed an investment strategy, a savings goal, and a retirement date.  We agreed to monitor the plan yearly to determine, based on that year’s savings and the portfolio’s return, whether the retirement date and/or asset allocation would need to be changed in order to increase his probability of success.  Because Michael has already indicated his desire to be more conservative in his portfolio at some point in the future, we agreed to make shifts as necessary based on the viability of his plan.  We also determined which state offered the best plan for his college savings based on cost, investment choices, investment manager, and other factors.  As a result, these days Michael is not concerned by whether he CAN retire, but whether he WANTS to retire.

Check out our next blog post for the rest of the three stories, and feel free to contact Brett Horowitz with any questions 305.448.8882 x216 or BHorowitz@ek-ff.com.