The Goals
Reduce taxes, improve investments, and create a reliable income stream in retirement.
The Challenge
Robert devoted 40 years to his company before deciding it was time to retire. His retirement package included a 401(K), stock options, and pension. He was hoping to put these assets to work, so he and Susan could be financially secure while they lived out their retirement dreams of traveling, golfing, and babysitting their grandchildren.
He wasn’t quite sure how he could access these funds, however, and needed advice on the investment options available. How could he make sure their money would outlive them while facilitating the comfortable lifestyle they envisioned?
The Approach
It was important to help make Robert and Susan’s retirement planning process easy, enjoyable, and stress free. To avoid major surprises, the first step was to identify potential tax challenges they may soon face.
Working together with Robert and Susan’s CPA, the retirement planning process involved:
- Compiling the information Robert needed from his company’s benefits administrator
- Summarizing the options available to them including any corresponding tax ramifications
- Establishing new investment/retirement accounts
- Strategizing a withdrawal plan to provide them with a reliable income stream
The Results
Being able to see and understand their options removed a lot of worries. They were able to move forward, confident in knowing they’d be well looked after.
The solutions adopted by Robert and Susan helped them:
- Reduce taxes now and in the future
- Protect Robert’s retirement savings
- Develop an income strategy designed to support their retirement needs over time
Today, Robert and Susan are having the time of their lives. They travel between their home in the Ohio and their beach house in Florida, visit new golf courses, and spend time with their grandchildren.
They have the confidence of knowing his financial plan is sustainable — he and Susan can relax and enjoy life on their terms.
Robert and Susan's retirement plan is reviewed regularly. Most importantly, new tax laws are being monitored each year to ensure they’re taking advantage of all opportunities available to them.
Does this sound like you?
If you’ve recently retired and want to protect your nest egg, let us help. Schedule your complimentary discovery meeting with one of our financial planning professionals today.
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*Client scenarios are meant for illustrative and informational purposes only, and they are not examples of actual client results. Individual results can vary. These hypothetical situations are designed to provide educational and/or general information and is not intended as specific investment, tax or legal advice. You should always consult a professional regarding your specific situation. Actual future investment returns, taxes and inflation are unknown. Past performance is no guarantee of future results.
