Client Details
Jeff (68) and Mary (63)

Jeff and Mary are ready to retire. They have been dreaming of throwing the alarm clock out of the window for a while now, but actually turning in the “Two Weeks’ Notice” is a bit scary.

Mary has stayed at home ever since she had the first of their three children. Jeff has worked at various healthcare companies throughout his career and now holds a desirable position at his current company.

They have not planned much for retirement, but have been diligent savers over the years. Jeff contributes to his company’s 401K plan every year and is fortunate enough to have a company pension plan to provide guaranteed income in retirement.

Client Goals

Jeff and Mary would love to be snowbirds, wintering somewhere in South Florida. They do not need much. A patio home in Kentucky and a condo near the beach in Florida will do fine.

Jeff and Mary have been active in their church and wish to dedicate their time and monies to the ministry efforts. Seeing their four grandkids on a consistent basis is also a must for them.

They both understand fairly well how the stock market works, but do not want to spend their retirement days managing their money.

The Consultation

In their consultations with Financial Services Center, Jeff and Mary realize the importance of becoming the CEO’s of their retirement. They learn what a safe withdrawal rate off their savings is, the importance of account tilting and end-of-life arrangements to ensure they enrich their church and grandkids’ lives, and how spending half their year in Florida will impact their cost-of-living expenses.

The Plan

Jeff and Mary complete a risk tolerance questionnaire with their Financial Advisor to determine how much equity exposure is appropriate for them. They determine that a 4% withdrawal rate from their investments is appropriate with occasional raises to adjust for inflation, and work with Financial Services Center to put that into automation. They discuss the possibility of gifting some of their IRA required minimum distributions to their church to reduce their taxable income. Finally, they look to work with their advisor and a licensed attorney to ensure their assets are titled correctly to pass efficiently to the next generations and charities

The Result

Jeff and Mary make a CEO decision and hire Financial Services Center to help them achieve their investment and life goals. Their decision allows them to focus on enjoying their retirement rather than stressing, knowing they have a qualified financial professional aiding them along they way.

Note: The above case study is hypothetical and does not involve an actual Financial Services Center client. No part of the content should be construed by a client or a prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction.

Additional Case Studies