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Case Studies The Retirement Tom, a public utility engineer for thirty five years, came to us about two years before he was due to retire. He and Judy, his wife of forty years, loved the southern part of the US and were seriously considering a move to that part of the country. But, Judy was concerned. They had always lived modestly and were not risk takers and a big move seemed like a big risk. She simply wanted to make sure that they would be secure now and years down the road. Scenario planning proved very helpful for Judy to see that they had a very high probability for not running out of money. In fact, they could spend quite a bit more than they thought. Interestingly, they made the decision to retire during the height of the recession as a result. Although it took longer to sell their house, they never looked back and life could not be better. |
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The Company Sale Mark, a physician, with a pharmaceutical company, and Connie, his wife of twenty five years arrived in our offices as a result of the likely sale of his employer to a larger company – one that he had worked for in the past. They had worked with financial advisors in the past, but, they knew they did not want a repeat of another product salesperson disguised a financial advisor. Mark knew the financial benefits of the sale were going to be significant and he knew it was time to move on professionally. They needed help navigating through all the financial ramifications of the sale and a new career path. We worked with the couple along with their CPA and the accounting firm contracted by Mark's employer to run tax impact and financial projections for the different pools of money they would be receiving. We worked to consolidate their investment holdings and create a plan for how their new holdings would be titled and allocated. Accommodations were made for their children, especially one that had special needs. And, we explored the possibilities for retiring within the next five to ten years. A great deal of time and effort, but, a very clear plan has been established for the future. The Inheritor Rick and his wife Linda consider themselves lucky. They knew for many years that they would be receiving a substantial inheritance but were overwhelmed by the responsibility of it all as they anticipated the day that the check would arrive. They knew they wanted to retire shortly after receiving the inheritance money but were concerned about managing such a large sum of money along with making important life changing decisions. Could they afford to buy the dream house on the water? Could they really afford not to work? Could they really afford to spend six months on their boat? We helped them create a structure to the process, explore the possibilities, and create an investment portfolio to weather any storm. They continue to live the retirement they envisioned for themselves while being good stewards of the inheritance they received for their heirs. The Corporate Executive Tim and Susan were contemplating a corporate transfer – overseas. Many of us talk about making a move to another country but they are now living that dream. They were faced with selling their house in the US, simplifying their various investment accounts, and planning for a future retirement from the company Tim had been with for over twenty years. The company had been good to them and offered many opportunities, but they had so much they wanted to do with their lives. We developed numerous scenarios to help them explore the possibilities and implications of a wide variety of issues. They discovered that they could retire sooner than they had thought due to their conservative lifestyle and investment discipline. Working is now an option as opposed to a necessity. We continue to work together to ensure that they continue to stand on solid ground.
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