PLANNING DURING RETIREMENT


Planning in Retirement - Planning at Retirement Case Study

JACK (64) & REBECCA (60)


PLANNING AT RETIREMENT CASE STUDY

Jack and Rebecca recently retired in Austin, TX. While they are enjoying peace of mind in their everyday lives, they lack financial peace of mind. There are many questions they want answers on how to best plan their future.

They have a desire to organize their financial plan and make sure they won’t run out of money. Jack and Rebecca also share concerns when considering long-term care, ensuring their investments appropriate for retirement, and finding ways to maximize assets while limiting taxes.


PLANNING AT RETIREMENT – BACKGROUND


With their adult children raising families of their own in Los Angeles and Philadelphia, it’s important to Jack and Rebecca to spend retirement years making memories with their family.

Jack and Rebecca are currently in the last month of their company’s health care plan and need to make decisions for healthcare prior to reaching Medicare.

Jack and Rebecca wish to give back to organizations that help take care of their community. 

Jack and Rebecca’s retirement funds include their living trust, 401(k)s, IRAs, and Jack’s company pension plan.

Jack and Rebecca need help determining when to start SS. While some of their friends claimed Social Security at age 62, Jack and Rebecca recently learned that only 4% of retirees claim Social Security at the financially optimal time1.

With retirement just beginning, Jack and Rebecca are not sure which decisions are best to make. They value peace of mind from a fiduciary financial advisor.


ENTER SAFE LANDING FINANCIAL


Jack and Rebecca weren’t sure where to start, so they reached out to Safe Landing Financial (SLF) for a complimentary introduction meeting to plan during retirement. As a trusted advisor, SLF starts every new relationship by asking questions and listening to understand their unique financial situation. Here is how SLF helped Jack and Rebecca reach financial peace of mind.


FINANCIAL PEACE OF MIND


SLF provides Jack and Rebecca with confidence in reaching their goals from visualizing and having conversations regarding their customized financial plan. 

Here are some ways SLF helps Jack and Rebecca to reach their financial goals:

  • SLF compiles information for retirement and investment accounts held at multiple firms and consolidates accounts.
  • SLF stress-tests scenarios for how to approach Jack’s pension retiring at different ages to show a high probability of success for funds lasting throughout Jack and Rebecca’s lifetime.
  • SLF determines an appropriate investment strategy based on Jack and Rebecca’s financial goals and risk tolerance. Investment fees have been reduced with SLF now managing investments. Jack and Rebecca now have an asset allocation and rebalancing strategy tracking to their goals.
  • SLF minimizes their taxes by evaluating Jack’s pension, Roth conversions, charitable contributions, Social Security, and retirement income distribution.
  • SLF works directly with Jack and Rebecca’s CPA, estate planning attorney and insurance agent. By holding an open line of communication, SLF stays aware of changes to laws and helps to fill any potential planning gaps to make sure they’re taken care of.
  • SLF helps Jack and Rebecca find an appropriate long-term care strategy to make sure their quality of life and hard-earned financial assets is protected.
  • SLF helps Jack and Rebecca strategize their healthcare strategy to get to Medicare and beyond.

Jack and Rebecca have financial peace of mind knowing their financial plan is organized. They can enjoy their lifestyle without worrying about funds running out.


MORE ON PLANNING DURING RETIREMENT


High-Earning Professional – Planning Financial Future Case Study

Approaching Retirement – Financial Planning for Retirement Case Study

Important Numbers for 2021 (printable PDF guide)

What is a Fiduciary Financial Advisor?

What is a Fee-Only Financial Advisor?

What is a CERTIFIED FINANCIAL PLANNER™?

How Far Could $1 MILLION Go in Retirement?

Forbes: The 9 Keys To A Happy Retirement

Business Insider: How Much Money You Need to Retire at Every Age and Comfortably Live on Investment Income

The Balance: How to Retire Early and Manage Your Health Care Costs

Disclosure: The above planning in retirement case study is hypothetical and does not involve an actual Safe Landing Financial client. No part of this content should be taken as a guarantee that their household will experience similar results if Safe Landing Financial is chosen to provide financial planning services.

1: https://unitedincome.capitalone.com/library/the-retirement-solution-hiding-in-plain-sight


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