CLEARWATER WEALTH PARTNERS DocID: DOC-RetirementSSAnalysis-2024-001
Retirement & Social Security Analysis
Tax Year 2024
Prepared for:
Alex & Sam Chen
3215 Lakeview Circle, Wayzata, MN 55391
Household ID: HH-CHEN-001 | Custodian EIN: 61-4327891
Retirement
Alex's Age Sam's Age Years to Retirement* Retirement AUM
Confidence
41 40 19 $525,000 79%
(born 1983-05-14) (born 1984-11-02) *Alex at 60 in 2043 IRA1 + Roth IRA Model-based estimate
TY2024 Milestone: Estate Audit Completed — beneficiary designations corrected; retirement accounts confirmed trust-aligned
ANNUAL RETIREMENT PLANNING SUMMARY
A family health event (EventID-2024-01) prompted a comprehensive estate and beneficiary audit. A key mismatch was
discovered: DOC-BeneficiaryForm-2018-001 listed Alex's parent as contingent on IRA1/RIRA — inconsistent with the trust.
DOC-BeneficiaryForm-2024-001 corrected this, naming the Chen Family Revocable Trust and children as contingent
beneficiaries. Retirement accounts now properly reflect estate planning intentions. Markets continued strongly and the Fed
began cutting rates — favorable for the bond sleeve in IRA1.
CONTENTS OF THIS PACKAGE
Section Description
Page 2 Retirement Account Detail — balances, contributions, asset allocation by account
Page 3 Retirement Income Projection — forward model to target retirement date
Page 4 Year-Specific Planning Notes & Key Topics
IMPORTANT: This analysis is for informational purposes only. Projections and confidence levels are based on simplified models and are not
guarantees of future results. Social Security benefit estimates are approximations. Consult your financial advisor and CPA before making
decisions. Synthetic demo data — not investment or financial advice.
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RETIREMENT ACCOUNT DETAIL — TAX YEAR 2024
Year-End Balances by Account
Account Account Type Tax Treatment Year-End Balance Prior Year Change
ACCT-IRA1 Alex Traditional IRA Tax-Deferred $430,000 $395,000 +$35,000
ACCT-RIRA Alex Roth IRA Tax-Free $95,000 $85,000 +$10,000
Combined
IRA1 + Roth IRA $525,000 $480,000 +$45,000
Retirement AUM
Note: Sam's employer-sponsored retirement plan (403(b)/401(k)) is maintained separately and is not custodied at Fidelity Institutional. Total
household retirement savings exceed amounts shown above.
CONTRIBUTIONS — TAX YEAR 2024
Annual IRA Contributions
Account Contribution Type Amount Notes
Tax-deductible subject to income limits; phased out at
ACCT-IRA1 Traditional IRA — Annual Contribution $7,000
high income
Non-deductible IRA converted to Roth; income
ACCT-RIRA Roth IRA — Backdoor Contribution $7,000
exceeds direct Roth threshold
Total Retirement
$14,000 IRA annual contributions only (excl. rollover)
Contributions
ASSET ALLOCATION BY RETIREMENT ACCOUNT
Year-End Return
Account Allocation Target IPS Basis
(Est.)
Core bonds + TIPS; tax-deferred income, moderate
ACCT-IRA1 60% Eq / 36% FI / 4% Cash +11.5%
equity sleeve
Small-cap + EM equity tilt; tax-free growth for long
ACCT-RIRA 78% Eq / 19% FI / 3% Cash +17.0%
horizon
Tax-aware placement strategy: Fixed income (UCBIX, UTIPX, MUNIX) held in IRA1 to shield interest income. Higher-growth equity (USCIX,
EMEIX) held in RIRA to maximize tax-free compounding. ACCT-TX01 (taxable) maintains equity core + muni sleeve.
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RETIREMENT INCOME PROJECTION — AS OF DECEMBER 31, 2024
Model Assumptions
Assumption Value Notes
Target Retirement Age — Alex Age 60 / 2043 GoalID-2016-01; Sam retires 2044
Target Retirement Income $185,000/yr Today's dollars; inflation-adjusted at retirement
Inflation / Portfolio Growth 2.5% / 6.5% Net of ~0.70% advisory fee; blended IRA/Roth allocation
Annual IRA Contributions $14,000/yr Current year rate; continued until retirement
SS income offsets portfolio withdrawals; see SS page
Withdrawal Rate / SS Coverage 4.0% / Supplemental
(2025+)
5-Year Snapshot Projection (IRA1 + RIRA; 6.5% Growth Rate)
Year Calendar Yr Alex's Age Projected Balance Cumul. Contribs Growth Component
Now 2024 41 $525,000 $0 $0
+3 yrs 2027 44 $678,963 $42,000 $111,963
+6 yrs 2030 47 $864,942 $84,000 $255,942
+9 yrs 2033 50 $1,089,595 $126,000 $438,595
+12 yrs 2036 53 $1,360,965 $168,000 $667,965
+15 yrs 2039 56 $1,688,767 $210,000 $953,767
+18 yrs 2042 59 $2,084,734 $252,000 $1,307,734
+19 yrs 2043 60 $2,234,242 $266,000 $1,443,242
Retirement Income Coverage Analysis
Income Source Annual (Nominal) Annual (Today's $) Notes
From IRA1+RIRA of $2,234,242 at
Portfolio Withdrawal (4% of Projected) $89,370 $55,903
retirement
Social Security — Alex (FRA 67) $49,200/yr* ~$49,200 Begins 2050; today's dollars
Social Security — Sam (FRA 67) $37,200/yr* ~$37,200 Begins 2052; today's dollars
Portfolio withdrawal + SS (both at
Total Projected Retirement Income $175,770 —
FRA)
GoalID-2016-01; inflation-adjusted at
Income Target (Today's Dollars) — $185,000
retirement
* Social Security estimates in today's dollars. Actual benefits vary with earnings, policy, and claimed age. Estimates are preliminary until formal SS
analysis (RecID-2025-02). Projections assume current contribution rate continues. Sam's employer plan and taxable ACCT-TX01 not included above.
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YEAR-SPECIFIC PLANNING NOTES — TAX YEAR 2024
Key Planning Points
(cid:127) EventID-2024-01: Beneficiary mismatch found and corrected — IRA1 and RIRA now trust-aligned per
DOC-BeneficiaryForm-2024-001
(cid:127) Fed began rate cuts in September 2024 — IRA1 fixed income sleeve expected to benefit from duration in 2025
(cid:127) Retirement confidence at 79%; remaining 19-year runway to Alex's target retirement at 60
(cid:127) RecID-2024-01: Updated POA and health directive — important for retirement account access planning
(cid:127) Social Security analysis planned for 2025 (RecID-2025-02) as planning horizon comes into clearer focus
KEY TOPICS REFERENCED THIS YEAR
(cid:127) Beneficiary Alignment & Estate Audit (EventID-2024-01, RecID-2024-01)
CUMULATIVE RETIREMENT SAVINGS TRAJECTORY
Year IRA1 Balance RIRA Balance Combined Ret. AUM Annual Contrib. Confidence
2016 $200,000 $40,000 $240,000 $11,000 52%
2017 $258,000 $47,000 $305,000 $11,000 57%
2019 $270,000 $60,000 $330,000 $12,000 62%
2020 $285,000 $67,000 $352,000 $12,000 57%
2021 $330,000 $78,000 $408,000 $12,000 64%
2022 $325,000 $73,000 $398,000 $12,000 61%
2023 $395,000 $85,000 $480,000 $13,000 75%
2024 $430,000 $95,000 $525,000 $14,000 79%
Retirement confidence score is a model-based estimate considering current balances, projected contributions, expected returns, inflation, and the
retirement income target. It does not constitute a guarantee or financial plan. Sam's employer plan is excluded.
Clearwater Wealth Partners — Chen Household Retirement Planning | Tax Year 2024 | This document is for informational and planning purposes only.
Not financial, legal, or tax advice. Synthetic demo data.
Clearwater Wealth Partners (Synthetic) — Chen Household HH-CHEN-001 | CONFIDENTIALSynthetic Demo Data Only — Not Investment or Financial Advice | Page 4
