John & Cindy
Age: 61 and 58
John and Cindy are preparing for retirement and want to notify their employers soon.
They’ve saved well and have accumulated accounts across many different institutions. It looks messy.
They have two children and three grandchildren, though none of them live close by. They have inexpensive hobbies and live modestly in a home that is almost mortgage free.
John and Cindy are confident they can retire and live within their means. But, managing healthcare expenses has them concerned.
Some housekeeping is in order as well. The thought of managing monthly distributions across so many different investment platforms makes their stomachs churn.
Specifically, they want to know:
- What should we do for healthcare costs between now and age 65, particularly if we plan to travel?
- Are we investing in the right things?
- How can we consolidate investment accounts? What if we mess it up?
- Are we supposed to save money in retirement? How do we go from net savers to net spenders?
- How will our taxes change if we move to be closer to our grandkids?
John and Cindy started with a short call to lay out their questions and concerns. They followed up with a meeting to get into the weeds.
There’s an understandable mix of excitement and uncertainty when it comes to retirement. Their planner listened to their concerns and desires, took notes, and helped John and Cindy document these into measurable goals.
Once the vision was clear and financials were known, their planner created a custom retirement plan for the soon-to-be retirees.
With the help of their planner, John and Cindy were able to:
- Consolidate accounts
- Increase their portfolio’s yield and generate a reliable retirement income stream
- Learn the healthcare options that suit them best
- Transition from savers to spenders
- Develop a ‘Plan B’ for life on the other side of the country
With a plan in place, John and Cindy are finally feeling confident about handing in their retirement notices. They’ll be more hugs with the grandkids, more road trips and sightseeing, and less time spent fretting over money.
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Note: The above case study is hypothetical and does not involve an actual Carmichael Hill & Associates 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 Carmichael Hill and Associates is engaged to provide investment advisory services.