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The last thing we had Gail do was a few Roth IRA conversions. She was worried about her son’s inheritance and wanted to maximize it, so we recommended one conversion per year over the next four years, with the conversions totaling $100,000. If we made some basic assumptions with a return of 7.2% — and with the Rule of 72 — that money will double every 10 years. If she starts with $100,000 at age 70, we could expect that money to grow to $200,000 by age 80, then $400,000 by age 90. If her son inherited the $400,000 then and held it for another 10 years (the maximum time allowed under the SECURE Act rules), he could take it to about $800,000 and withdraw funds tax-free because Gail already paid the tax when she converted it. All of this started with a referral and the creation of a financial plan. If Gail had never come to us, she would still be withdrawing money out of her IRA and paying the maximum in taxes. And she wouldn’t be
growing her money for the future. We’re here to help people just like Gail. If you know someone in a situation like Gail’s or someone who may need a little more help planning for their future, send them our way. We can put them on the path to achieving their financial dreams in retirement. How can you refer? Simply introduce us through email or have them sign up for one of our educational webinars at CampbellWealth.com. We’ll take it from there! Plus, once you refer someone and they participate in that first meeting with our team, you're automatically enrolled in our Ambassador Program and unlock a number of great benefits. It’s a win-win!
she initially met with us. Our solution: Utilize the Social Security spousal survivor benefit and begin taking payments on her deceased husband’s record. We also recommended she pay back the benefit she had already taken on her record. This is called a do-over. If you do this within your first year of taking benefits, the Social Security Administration will treat it as if you never took any benefit at all. This allowed Gail to continue to grow her benefits while she took advantage of her husband’s benefits, which ended up being the same amount she was getting initially. The big difference is that her benefits will now continue to grow at a rate of 8% a year until she reaches age 70. That means her benefit will be 32% higher than it otherwise would have been. Then at age 70, she’ll get $7,000 more per year. If she lives to 80, that’s $70,000 more in payments. If she lives to 90, that’s a boost of $140,000 — all because of one simple change.
When it comes to your friends, if they’re important to you, they’re important to us.
Meet Whitney Burches
W hitney joined Campbell Wealth in August as a Client Service Associate. She was born and raised in rural Utah but later moved to northern Virginia in 2020 with her husband and son. She recently made a career change from the technology industry to the financial services industry. This shift is closely tied to her passion for connecting with and helping people through life transitions. Whitney graduated from Utah State University with her bachelor’s degree in family life education. She enjoys learning about self-development, personality types, and what motivates people. She believes financial freedom is a stepping stone on the path to personal happiness and is excited to help you reach your financial and retirement goals! She is a fitness enthusiast; her two favorite ways to break a sweat are through a great CrossFit or high fitness workout. She also enjoys exploring her new neck of the woods in Bristow with her husband and 2-year-old son.
2 • CampbellWealth.com
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