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CASE STUDY

Tim and Judy

Retired

Age:

67 & 60

Primary Goal:

Reduce taxes, make sure their investments are optimized, create peace of mind with a reliable income stream in retirement.

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The Challenge:

Tim and Judy have recently retired from rewarding careers and are looking forward to the future. Over the years, they've worked with a couple of different advisors, but they always felt a certain disconnect. They want to ensure that they have a plan when the market goes down, make sure they are tax efficient with their withdraw strategy, and get some peace of mind that they will never run out of money - especially with the rising cost of healthcare.

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Tim devoted 35 years to his company before deciding it was time to move onto the next phase in life. With Tim and Judy's children grown, they're looking forward to traveling, golfing, and giving back to their community.

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Tim's retirement package included a 401(k), stock options, and a pension. He is hoping to put these assets to work so he and Judy can enjoy a comfortable future filled with all the things on their bucket list.

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Tim's friends at work that have recently retired told him what they were going to do with their pension and stock options, but Tim wanted to seek advice from a professional. Tim's ultimate goal was simply to make sure their money would outlive them, while facilitating a comfortable lifestyle they've always envisioned.

The Approach:

We wanted to help make Tim and Judy's retirement planning process as easy as possible.

 

The last thing we wanted was to add stress to what should be a carefree time in their lives, so we made sure to identify any potential tax challenges they may soon face.

 

Working together with Tim and Judy's CPA we helped them in the following ways:

 

  • Compiled all the information needed from his company's benefits administrator

  • Summarized all the options available to them, along with any corresponding tax ramifications

  • Established investment/retirement accounts

  • Analyzed Tim's pension options to make sure he knew the benefits of each one

  • Strategized a withdraw plan to provide them with a reliable income stream

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Being able to see and understand all of their options removed a lot of worries. They were able to move forward with their plans, confident in knowing that they would be well looked after.

The Results:

The solution we developed for Tim and Judy helped them in many ways:

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  • They were able to reduce taxes now, and into the future

  • Tim's retirement savings were protected

  • We developed a plan for when the market goes down 

  • We helped them create a predictable stream of income that they couldn't outlive

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Today, Tim and Judy are having the time of their lives. They travel between their primary home and their vacation home - one where they spend weekends and holidays with their family.

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They have the confidence of knowing that their financial plan is sustainable and that they can relax and life live on their terms - regardless of what happens in the market - something they cannot control.

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We monitor Tim and Judy's portfolio regularly. We keep the lines of communication open with their CPA to make sure we are aware of any changes to tax laws that would impact their savings and adjust our strategy accordingly.

READY TO CREATE A DOWN-MARKET STRATEGY THAT PROVIDES YOU A RELIABLE INCOME STREAM IN RETIREMENT?

The first step in our process is to schedule a 15-minute phone consultation. This is a chance for both of us to make sure your situation matches our expertise.

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