Planning to see the world during their Golden Years, with Sagewell

by: Jocelyn | in 403(b), Education

Robin* and her husband Don, from Reno, Nevada, always had a dream of spending their golden years traveling around the world.

So when the time came to retire, they sold their house, buying a smaller property they could manage. Along with $250,000 they had squirreled away into a 403(b), they were ready to spend their retirement traveling around the world.

They created a bucket list of travel destinations, including the Great Wall of China, Petra, Stonehenge and the pyramids of Giza, mapping out their next five years.

A 403(b) with not enough money to fund their travel dreams

But they quickly realized they would run out of money, sooner than expected and wouldn’t be able to make all the destinations on their list – not even close! Robin and Don were heart-broken. They had saved their entire lives to be able to visit all these places on their bucket list. It was truly a bummer of a situation.

That’s where Sagewell came in

With Sagewell’s much lower monthly fee and savings program, Robin realized she would be in a much better position financially. With a fee of only .5% leveraging a Sagewell IRA vs. the 3% she was paying now on her 403(b), she and Don would be able to travel to all their destinations and live comfortably at the same time, and afterward.

A quick call with their free Sagewell Retirement Advocate mapped out two scenarios, one with Sagewell and one without, helping Robin see what it would look like if she took out their normal monthly withdrawals, except with Sagewell they had much more disposable income to travel with.

The results were amazing

Leveraging Sagewell for monthly savings of $100 from cashback, renegotiated monthly bills and more, plus drastically reduced fees, made a difference that really compounded. 

With all the figures in, and assuming 7% market returns, with Sagewell Robin and Don could spend an extra $4,000 per year for 20 years and still have $200,000 in their 403(b) – enough to continue to live comfortably! – but with her current plan they faced a $51k debt – no extra money and running the account dry in their 70s. Robin couldn’t believe the difference! Now they could live the life they wanted in retirement, traveling comfortably and secure in the knowledge that they could thrive after their travels were over as well.

Helping our clients like Don and Robin make the most of their golden years is why we built Sagewell – reach out today for a free consultation with one of our Retirement Advocates. We are passionate about helping people just like you!

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*Robin’s story is an amalgamation of stories from Sagewell members. We have thousands of members just like you, who are retired and looking to ensure financial security while retired.

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