Mark & Jenn
Case Study 01 : Age 54 & 51
Primary Goals:Reduce taxes, improve investments, and create a reliable income stream in retirement.
Mark and Jennifer don’t have a set retirement date.
Not because they can’t retire, but because they’re not sure when (or if) they want to stop working.
Mark is a tenured professor and Jennifer is a respected physician. They both enjoy their careers — their work adds value and meaning to their lives.
They’ve worked for decades to excel in their fields and they aren’t ready to leave their passions simply because they’re nearing traditional retirement age.
The challenge isn’t overcoming any financial mistakes or limitations, they’ve been doing all the right things:
- Generating high six-figure incomes
- Maxing out retirement vehicles and other investments
- Growing sizeable equity in their primary home
- Protecting themselves with the right types of insurance
So what’s the problem?
Mark and Jennifer wonder if they’re missing something. Is their current plan right for them?
They admit…they don’t know what they don’t know.
As they approach the next stage of life, they want an expert to help them make strategic decisions with their money. They also want help navigating taxes in retirement.
While Mark and Jennifer aren’t in a hurry to retire, they want to know they have the option.
Mark and Jennifer weren’t sure where to begin, which is why they pursued professional help from a financial planner.
Plus, they’re busy. They don’t want to get bogged down trying to figure everything out on their own.
When Mark and Jennifer hired a financial planner, they were concerned about more than just their investments. They wanted help with the entire financial picture, especially taxes.
A comprehensive plan was put together that met all their needs:
- A tax-efficient investment strategy to reduce risk and improve returns.
- Reduced investment costs.
- Improved asset allocation to better align with their goals.
- A smart, sustainable rebalancing strategy.
- Reduction of tax liabilities through a charitable giving, roth conversions, social security timing, and more!
- A tax-efficient IRA funding strategy.
They also adopted an easy-to-use personal finance website, helping them organize their financial life and gain clarity.
Mark and Jennifer now enjoy the peace of mind that comes from a clear financial plan.
They have more energy and mental space to dedicate toward what they enjoy — knowing they have the choice to retire when the time is right.
Note: The above case study is hypothetical and does not involve an actual Define Financial client. No portion of the content should be construed by a client or prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction if Define Financial is engaged to provide investment advisory services.
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