Married Couple in their 40s gets HUGE boost in retirement plan

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 ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks:    / @travissickle   Chat on discord: Join Link   / discord   Support on Patreon:   / travissickle   Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE http://bit.ly/2Fo21Ry 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™ Company Website: https://www.sicklehunter.com twitter: @travissickle Instagram:   / travistsickle   facebook:   / sicklehunterfa   LinkedIn:   / travissickle   Sickle Hunter Financial Advisors 1646 W Snow Ave. Suite 144 Tampa, FL 33606 ------------------------------------------------------- Gear Used in Videos https://bit.ly/3bUPvXP Partnership referral links Aura Identity Theft Protection Up to 50% off HTTPS://www.aura.com/travis Bitcoin IRA https://bitcoinira.pxf.io/75aJQQ Sofi Banking https://bit.ly/3OPpmjZ All Amazon links are affiliate links ____________________________________________________________________________ Information in this video is for educational and entertainment purposes only. sicklehunter.com/disclosures ____________________________________________________________________________ #travissickle