Nearing Retirement


Success Story #3

  • Age:
  • Profession:
    Biotech Executive

Primary Goal:

Consolidate investment accounts, mitigate taxes, create a reliable retirement income stream.

After accumulating wealth throughout the years as a biotech executive, Carol began thinking about retirement.

She consistently saved and currently holds a variety of investment accounts, including 401ks from her employers, stock options, an ESPP, and multiple brokerage accounts.

She has three adult children (one still in college) and two grandkids. Carol lives modestly, owns hers home, and look forward to spending more time with family in retirement.

The Challenge

Carol was pretty sure she had enough to retire but also hoped she could leave a legacy for her kids and grandkids.

She craved a better plan that would allow her to retire confidently knowing she was equipped to meet these goals

Carol had more questions than answers:

  • How do I consolidate retirement funds?
  • What is my money invested in?
  • What are the tax implications of selling my stock options?
  • Do I have enough money to pay for healthcare, especially if I retire before 65?
  • How do I switch gears from working and saving money to living off my investments?

She knew seeking professional financial help was the right choice to ease her mind and create a plan that truly worked for her family.

The Approach

First, we listened. We sat down with Carol and asked the questions many planners fail to consider. We wanted her to tell us about her family and lifestyle goals.

Many of the questions and concerns Carol had are common with our clients.

There is an understandable mixture of excitement and uncertainty when it comes to a retirement transition.

Once we truly understood her goals we were able to create a unique plan that maintained her values and priorities.

The Result

In collaboration with her tax professional, we were able to help Carol:

  • Establish a retirement timeline that included future financial changes (social security & medicare)
  • Organize her assets so she knows she has enough money to fund what matters most
  • Reduce potential taxes through the systematic sale of her stock options
  • Maximize the effectiveness of her savings during her remaining working years
  • Create an income stream to fund the first few years of retirement before Medicare and Social Security begin

We regularly check-in and track their plan and portfolio to ensure they are maintaining their financial goals.

Now that she has a plan, Carol is able to bring back a sense of purpose and confidence to her remaining working years.

In the near future, we hope to see her fully embrace retirement and her role as a grandparent.

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.

Are You Within 5-10 Years of Retirement?

Step One in our S.T.A.R.T. Here process is a 15-minute phone consultation. This is the perfect chance for both of us to make sure your situation matches our expertise.

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