“Structured”​ - A 56-year-old and his 58-year-old wife plan to retire in two years with about $1.19M net worth (75th percentile): $500K home equity on a $600K house (2.5% mortgage, 8 years left), $575K in a Vanguard 2030 401(k), plus a $50K bonus and $60K in cash. Their foundation has unusually strong guaranteed income: a $67K private-sector union pension for her, a $43K state pension for him (no COLAs), and subsidized family health insurance under $10K/year for the first five years. Their plan: live mostly on the $110K in pensions at first, use $18K/year from the after-tax bonus, add her Social Security at 62 (~$26K), later eliminate the mortgage (freeing ~$14K/yr), transition from employer coverage to Medicare/ACA, and finally add his Social Security at 70 (~$65K), for roughly $201K guaranteed income by 2039 with an expected ~$750K still in the 401(k) they may barely need.​