Case Study: Jim and Samantha, A Secure Retirement with Purpose
Client Situation: Jim and Samantha, in their late 50s, were approaching retirement after long, successful careers, Jim in sales and Samantha in healthcare. Their children had moved out, and with a sizable investment portfolio, they were financially comfortable. Still, they had concerns about preserving their wealth, planning for healthcare, and making meaningful charitable contributions.
Client Concerns: They wanted to make sure their retirement investments were appropriately positioned, that they wouldn’t be burdened by long-term care expenses, and that their legacy would be passed on smoothly and tax-efficiently. Charitable giving was also important to them, but they weren’t sure how to do it in a tax-advantaged way. Additionally, they wanted to begin transferring wealth to their children and future grandchildren in the most tax-efficient manner possible.
Our Approach: We began with a deep discovery process to align their financial plan with their values. We helped them rebalance their portfolio for moderate growth with less volatility. A plan for long-term care was integrated using hybrid insurance solutions. To address estate and tax concerns, we worked with their attorney to draft trusts and charitable giving vehicles like donor-advised funds. We also implemented a Roth conversion strategy over several years to reduce their future RMD burden. For their family gifting goals, we established a systematic plan utilizing annual gift tax exclusions and 529 education accounts to begin transferring wealth to the next generation tax-efficiently.
Outcome Jim and Samantha now feel confident and at peace with their financial future. Their assets are aligned with their goals, their legacy is protected, and they have a tax-efficient plan to give generously. Their retirement isn’t just secure, it’s purposeful.
**The above are hypothetical situations based on real-life examples. Names and circumstances have been changed.
Case Study: Jane – Rebuilding After Divorce, Planning for a Solo Retirement
Client Situation: Jane, 62, had recently gone through a divorce and was re-entering the workforce. She had a modest 401(k), a small pension from her previous job, and a townhouse she loved. Her goal was to retire within five years while making sure she could maintain her lifestyle and leave something behind for her family.
Client Concerns: She was concerned about whether she had saved enough, how to create a steady income stream in retirement, how to prepare for healthcare and long-term care expenses, and how to manage taxes efficiently. As a single woman, she wanted a clear plan she could trust without relying on anyone else.
Our Approach: We worked closely with Jane to create a detailed retirement income plan, incorporating Social Security timing and pension options. We optimized her investment accounts for income and safety, and implemented strategies to reduce her taxable income in retirement. We also helped her evaluate long-term care insurance and created a simple, effective estate plan that prioritized her son and grandchildren.
Outcome: Jane now feels empowered and in control of her future. She knows exactly when she can retire and how much income she’ll have. With her healthcare and estate plans in place, she has peace of mind and clarity—something she hadn’t felt in years.
**The above are hypothetical situations based on real-life examples. Names and circumstances have been changed.
Case Study: Bill & Linda – Business Owners Planning for a Secure Financial Future
Client Situation: Bill and Linda, both in their mid-50s, are the proud owners of a successful manufacturing business. With two children currently in college, they balance the demands of business ownership with active community involvement and personal interests. Bill holds a business degree, while Linda brings a strong background in operations.
Client Concerns: Despite their accomplishments, Bill and Linda faced several financial challenges. They were concerned about their retirement readiness, ensuring that their accumulated business and personal wealth would support their desired lifestyle post-business ownership. They sought sophisticated tax planning to minimize liabilities during the business transition and personal wealth transfer. Additionally, they recognized the need to diversify their investments beyond their current business holdings to reduce risk.
Business succession planning was a critical concern. They were at a pivotal stage of planning their exit strategy, considering options to sell or transition the business to their children or potential external buyers. Simultaneously, they were navigating current college expenses for their two children, balancing tuition payments with business cash flow and personal savings. Managing a complex income structure with high cash flow from the business and multiple income streams presented potential tax implications. They also aimed to develop a comprehensive plan to efficiently transfer business and personal wealth to the next generation, while proactively addressing potential healthcare costs and insurance needs as they approached retirement.
Outcome: Bill and Linda now have a clear roadmap for their financial future. With a well-structured succession plan, diversified investments, and strategies in place for tax mitigation, college funding, and estate planning, they feel confident in their ability to transition smoothly into retirement. Their proactive approach to financial planning ensures that they can enjoy their current lifestyle while securing their family’s financial well-being for generations to come.
**The above are hypothetical situations based on real-life examples. Names and circumstances have been changed.
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We have options that don’t require you to open any accounts with us to start a relationship (many financial advisors will require you to invest money with them to have access to financial planning). However, we understand that it takes time to get to know and trust your financial advisors. We’re confident that after a One-time plan, you’ll want to keep working with us (even if that means using the One-time plan option when you need an update on your retirement picture).
So, what does the process look like? It’s pretty simple. The first thing you should do is schedule a meeting with us—you can schedule a free initial consultation or go straight to the planning meeting. You’ll gather some information prior to the planning meeting that we’ll need to run the numbers. When you’re ready, we’ll meet at the location that’s most convenient for you, answer your most pressing questions, and build a financial plan together. After the meeting, we’ll review the plan in detail and then send you a finalized snapshot of your situation, along with the formal plan.
Bottom Line—Our goal is to get your top questions answered and a plan put together from an independent advisor in one meeting at the place that’s most convenient for you. If you choose to have an ongoing relationship with us, we’ll continue to revisit the plan and tweak it. We’ll also provide investment management services and you’ll have unlimited access to us for any and all questions.
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