Case Study: Ready to Retire

Greg and Stacey have loved working and have devoted 35 years to their respective companies before deciding it was time to move into the next phase of their lives.

With their children grown, Greg and Stacey are excited to travel, cook together, and give back to their community.

They both have retirement packages that include a 401(k), stock options, and a pension. They're hoping to put these assets to work so they can enjoy a comfortable future filled with everything they dreamed of doing.

However, they needed to figure out how they could access their funds and wanted advice on investment options.

Greg and Stacey's ultimate goal was to make sure their money would last for the remainder of their lives while providing the comfortable lifestyle they envisioned.

It was essential to help make Greg and Stacey's retirement planning process easy, enjoyable, and stress-free.

To avoid any major surprises, the first step was to identify any potential tax challenges they may soon face.

Working together with Greg and Stacey's CPA, the retirement planning process involved:

• Compiling all the information Dan needed from his company's benefits administrator
• Summarizing all the options available to them, along with any corresponding tax ramifications
• Establishing new investment/retirement accounts
• Strategizing a withdrawal plan to provide them with a reliable income stream

Being able to see and understand all of their options removed a lot of worries. As a result, they could move forward with their plans, knowing they would be well looked after.

The solutions adopted by Greg and Stacey helped them in many ways:

• They were able to reduce taxes now and in the future
• Dan's retirement savings were protected
• They had the advantage of a predictable stream of income that they could not outlive

Now, Greg and Stacey are having the time of their lives. They attend weekly cooking classes, travel between their homes in Naperville, Illinois, and St. Petersburg, Florida, and spend quality time with their grandchildren.

They are confident that their financial plan is sustainable and in good hands with retirement experts. 

Greg and Stacey's retirement plan is reviewed regularly. But, most importantly, new tax laws are being monitored each year to ensure they take advantage of any opportunities available.