Protecting wealth, maximizing income, securing peace of mind.
Eleanor, overwhelmed by grief and financial responsibility, lacked a clear understanding of the expenses associated with managing her $1.8M Traditional IRA and $450K in taxable accounts, including taxes, advisor fees, potential probate costs, and the impact of Required Minimum Distributions (RMDs). She needed a comprehensive overview of the costs to ensure her long-term financial security and estate goals could be achieved.
Using Golden Door Asset's Cost of Doing Business Calculator, we meticulously projected Eleanor's potential legacy costs. We input estimated tax rates, advisor fees (1% AUM), potential estate taxes, and projected RMD withdrawals. The calculator revealed a potential 'cost of doing business' of approximately $85,000 annually, accounting for taxes and fees alone, giving Eleanor clear insight into how much her assets would be taxed and reduced each year.
We integrated the Cost of Doing Business Calculator with Eleanor's existing portfolio data to create a personalized report. This report was then reviewed and adjusted in collaboration with our tax and estate planning specialists.
$23,000 in potential tax savings over 10 years through optimized asset allocation and tax-efficient withdrawal strategies.
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