Case Clients: Rick & Anna

‍Age: 58 and 56

Occupation: Aerospace Engineer and Clerical Assistant

‍Primary goals/questions: 

• At what age is retirement possible
  

• Help understanding various pension options
  

• Overall review of investments & finances
  

Rick and Anna have worked hard raising kids and balancing careers.  Their children recently completed college, so retirement is coming into focus. They have saved consistently through funding 401(k)’s and have a few scattered accounts due to job changes.  Rick also has a large pension with many different options. 

They have always hoped to retire when Rick reaches age 62, however they have no idea if this is possible.  They are coming out of a very expensive season of life, having put two kids through college.  They lack comfort/confidence in their investment strategy and feel overwhelmed by their options.  They have some extra cash each month and are maxing out their 401(k)’s.  They own a nice home with a low-interest mortgage, and some savings in the bank.     

Rick and Anna have done well up to this point, but they’re anxiously wondering if they are on track to reach retirement. 

Rick and Anna were excited to get started with a financial planner who did more than just help with investments. Instead, they were given a comprehensive plan that incorporated:

• Tax analysis and planning for upcoming bonuses
  

• Consolidation of old 401(k)’s & IRA’s
  

• Automation of ongoing 401k contributions to align with risk profile
  

• Analysis of pension options, matched with various social security strategies to optimize retirement income
  

• Moved excess cash to a joint brokerage account for future flexibility, along with a savings plan to fund until retirement
  

• Referred to a local estate attorney to update their will & trust
  

• Built multiple “What If” scenarios to factor in market declines or the potential need for long term medical care
  

Now, they have a clear picture of where they are & where they're going. They're on track for all of their goals and feel empowered in their decisions. The best part about it all is that they finally have peace of mind around their finances.