Serving Minnesota and Beyond with Over 80+ Years of Financial Planning Experience

At iWealth, our role is to bring clarity to your financial life while keeping what matters most at the center of the plan. For some retirees, that may mean designing an income strategy that balances flexibility with sustainability. For others, it could involve integrating tax-smart withdrawal approaches, coordinating healthcare decisions, or simplifying estate plans for future generations.

The outcome is different for everyone, but the goal is the same: helping you retire with intention, make confident financial decisions, and live the life you’ve worked hard to create.

These examples are hypothetical situations meant to illustrate how purposeful retirement planning can look in practice. Every person’s circumstances are unique, and the best strategies will depend on your specific goals, resources, and needs.

Young Professionals: Building Net Worth

Building Wealth While Building a Career

Background

• Age: 38
• Location: Mankato, MN
• Occupation: Senior UX Designer at a tech company (remote worker)
• Career Stage: 10+ years into her career with increasing compensation and equity-based incentives
• Investible Assets: $275,000

Financial Profile

She is a driven professional who’s climbed the ranks quickly and now earns a high income with stock options, bonuses, and growing 401(k) balances. She’s financially independent, smart with money, and always thinking a few steps ahead. While she’s confident in managing day-to-day budgeting and saving, she knows she could be doing more to grow and protect her wealth long term.

Challenges

• Figuring out how to make the most of her stock options and equity compensation
• Balancing short-term goals (like buying a home) with long-term priorities (like retirement and financial freedom)
• Staying on top of tax planning as her income becomes more complex
• Not having the time or desire to track everything herself

Risks and Needs

• Investment Planning: She wants a clear investment strategy beyond her 401(k) that reflects her goals and risk tolerance.
• Tax Strategy: She needs guidance to avoid overpaying taxes, especially as her income grows and new equity grants vest.
• Equity Compensation Advice: She wants help understanding when to exercise options and how to avoid costly mistakes.
• Future Planning: While retirement is decades away, she’s starting to think about how to reach financial independence earlier.

How iWealth Can Help

Young professionals appreciate that iWealth doesn’t talk down to them or push generic advice. They like that our financial advisors speak their language, are straightforward, and transparent. They feel they have a partner who understands the complexity of building wealth while juggling a demanding career. iWealth’s guidance gives them confidence that their money is working as hard as they are.

Pre-Retirees: Preparing for What’s Next

Shifting from Saving to Planning for Life After Work

Background

• Age: 59 and 61
• Location: Waseca, MN
• Occupation: School Teacher and Operations Manager at a regional manufacturing firm
• Career Stage: Nearing retirement, they are planning to step away from full-time work in the next 3–5 years
• Investible Assets: $750,000

Financial Profile

They have spent decades saving diligently, maxing out retirement contributions, and avoiding unnecessary debt. He and his spouse are financially comfortable, but the focus is shifting. Instead of just building wealth, they focus on turning what they’ve built into a reliable income. They know the transition to retirement isn’t just about having “enough,” but having a plan that makes sense for how they want to live in the next phase.

Challenges

• Uncertainty around when to claim Social Security and how it fits into the big picture
• Evaluating whether they can retire early without running out of money later
• Understanding how taxes will change once paychecks stop
• Deciding what to do with old 401(k)s, company pension, and inherited IRA accounts

Risks and Needs

• Retirement Income Strategy: They need a plan that encompasses how their pensions, 401(k)s, IRAs, and Social Security will sustain them with a structured withdrawal plan.
• Tax Planning: They are concerned about future tax increases and want to explore Roth conversions and other tax-smart moves now.
• Legacy & Estate Planning: With grown children and aging parents, they think about organizing accounts and documents to avoid headaches later.
• Healthcare Planning: They want to ensure they have an actionable plan to support their healthcare needs once they retire and are on Medicare.

How iWealth Can Help

Having come from a large, brand-named bank that oversaw their assets for some time, they value the fact that iWealth doesn’t give cookie-cutter retirement advice. iWealth can create a comprehensive, well-laid-out personalized plan based on their retirement timeline, goals, and tax picture.

The team can help them evaluate their retirement readiness, not just with numbers, but with real-life scenarios so they know when to retire comfortably, what to do with various investment and retirement accounts, and a tax management plan. Most importantly, they can feel confident they are not leaving anything important to chance.

Purpose-Driven Retirees:

Making Retirement Count

Living with Intention—Not Just Caution—in the Years Ahead

Background

• Ages: 67 and 66
• Location: Rochester, MN
• Former Occupations: He was a Regional Director for a healthcare system; she was a high school counselor
• Retirement Status: Fully retired for two years
• Investable Assets: $1.8 million

Personal and Financial Profile

After years of hard work and raising a family, this couple enters retirement with a healthy portfolio and a strong desire to use it meaningfully. For them, this phase of life isn’t just “making it last”; it’s about living fully while they still can.

They want to stay engaged in their community, enjoy time with their grandchildren, and travel while they’re active and healthy. At the same time, they’re thinking ahead: how do they manage healthcare costs, taxes, and legacy goals without second-guessing every financial move?

They’re not looking to chase returns—they want a steady income strategy and a thoughtful, tax-aware plan that gives them flexibility and peace of mind.

Challenges They’re Thinking Through

• Will their income strategy hold up for the next 25–30 years, especially if long-term care becomes a factor?
• How do they reduce taxes on required minimum distributions (RMDs) and Social Security?
• What’s the best way to support their children and grandchildren without compromising their future?
• Are their Medicare and supplemental insurance choices still the right fit?

Needs and Priorities

• Sustainable Income Planning: They want a reliable and flexible withdrawal strategy that supports their lifestyle and leaves room for giving, travel, and unexpected healthcare needs.
• Tax Efficiency: They’re looking for ways to reduce the tax impact of RMDs and Social Security, and possibly give during their lifetime in more tax-smart ways.
• Healthcare Planning with Clarity: They want to feel confident about Medicare decisions, potential long-term care needs, and how one spouse’s care could affect the other.
• Legacy with Purpose: They’re ready to simplify their estate, reduce the tax burden for heirs, and create a giving plan reflecting their values.

How iWealth Can Help

Retirees often turn to iWealth for a clear, personalized retirement plan that balances spending, saving, and giving; all with tax efficiency in mind. iWealth can help build an income strategy that adapts over time, keeps taxes in check, and supports the life they want to live now and in the future.

From Medicare reviews to legacy planning, iWealth works alongside retirees to simplify complex decisions. The result? More clarity, fewer what-ifs, and the ability to live intentionally with room for generosity, family, and experiences that matter.

Business Owners: Growing Business Success to Personal Wealth and Legacy Preservation

Focused on the Business: Ready to Get Intentional About Wealth

Background

• Age: 49
• Location: Mankato, MN
• Occupation: Owner of a residential HVAC company
• Years in Business: 17
• Investible Assets: $425,000

Financial Profile

Having built his business from scratch, he now employs 20+ people with a steady stream of loyal customers and contracts. Most of his time and energy goes into running operations, managing staff, and keeping customers happy. The business is profitable, but personal financial planning has taken a back seat. He’s contributed to retirement accounts over the years, but there’s no clear strategy behind it. Now that he’s in his late 40s, he’s starting to think seriously about protecting what he’s built for himself, his family, and eventually, a successor.

Challenges

• Too much of his net worth is tied up in the business
• Not sure how or when he could step away, or what that looks like financially
• Hasn’t updated insurance or estate documents since the business grew
• Wants to take care of employees but isn’t sure if his benefits package is competitive

Risks and Needs

• Business Succession Planning: He needs a plan for what happens to the business if he retires, gets sick, or wants to sell.
• Tax Planning: The company’s growth means higher income and higher taxes. He’s ready for smarter strategies.
• Retirement Strategy: He wants to move from sporadic contributions to a plan that helps him build long-term wealth outside the business.
• Risk Management: He needs to take a second look at insurance, legal protections, and how the business fits into his estate.

How iWealth Can Help

iWealth works with business owners all the time and understands the complexities they face. iWealth doesn’t treat business owners like just another spreadsheet. The team takes time to understand their business and how it affects their finances. Together, we create a plan that strives to help you grow wealth beyond the business while keeping key protections in place. With iWealth’s help, business owners can have more clarity on how to turn today’s success into lasting value for their family and future.

High-Net-Worth Families:

Managing Complexity and Legacy

Staying Focused on What Matters Most

Background

• Age: 50 and 54
• Location: Minneapolis, MN
• Occupation: Managing Partner at a boutique law firm and Stay-at-Home Mother
• Career Stage: Established professional with 25+ years of experience and a leadership role
• Investable Assets: $10 million

Financial Profile

They have built significant wealth through business ownership, disciplined saving, and real estate investments. As high-income earners, they have a very comfortable lifestyle and are proud of their accomplishments.

But with success comes complexity: multiple accounts, retirement plans, a family trust, and tax concerns that keep piling up. He tried managing his own wealth, but that was too time-consuming, and he needed the services of a full-time professional to oversee their wealth. They want an experienced team that can bring everything together and offer proactive advice without the fluff.

Challenges

• Making sure all parts of their financial life are coordinated, from investments and taxes to estate planning
• Minimizing unnecessary tax exposure, especially with rising income and distributions once fully retired
• Determining how much they can gift now vs. what to reserve for future generations
• Keeping his spouse and children informed and involved without overwhelming them

Risks and Needs

• Wealth Management: They seek disciplined portfolio oversight and thoughtful risk management tied to their long-term goals.
• Tax Planning: They need strategies to manage a growing tax bill while taking advantage of gifting, charitable, and estate planning opportunities.
• Legacy Planning: They want a plan that reflects their values and helps prepare their heirs without creating dependency or confusion.
• Time & Oversight: With a demanding schedule, they want to offload the details but stay informed with clear, timely insights.

How iWealth Can Help

iWealth offers affluent families a clear, no-nonsense approach that just makes sense. iWealth advisors ask thoughtful questions and listen closely.

Affluent families can also benefit from iWealth’s Private Client Network, a hand-picked group of professionals covering everything from insurance and estate planning to legal, accounting, and even travel.

Now, affluent families can have more options than just a financial plan; they can have a coordinated strategy that connects their investments, tax planning, and estate goals, all under one roof. And with iWealth acting as their financial quarterback, families will no longer have to juggle everything themselves. They will have a team watching the big picture, so they can stay focused on work, family, and what’s next.

In summary, our Minnesota-based financial planners have a combined experience of over 80 years. Together, they work with both Minnesotans and families in many states across the country. If you find yourself wanting a comprehensive, financial plan that is tailored to your background, financial picture, risk, needs and preferences, we would love to offer you a 30-minute, no obligation consultation. Please contact us through our website, via email or through one of our offices.