Teri and Jonathan have worked hard for over thirty years and can finally see the retirement finish line. Their view of retirement is different from traditional. They have worked really hard as ex-triathletes to maintain their health but Teri would like to officially stop working and Jonathan would like to continue doing odds and ends. You know what that is called? Freedom.
Teri and Jonathan are nearing the retirement finish line and would like to set themselves up to start other businesses, travel, run, and excercise as much as they want without running out of money.
Teri and Jonathan have worked hard for over thirty years and can finally see the retirement finish line. Their view of retirement isn't too different from traditional retirement plans. Teri would like to officially stop working, initially, and Jonathan would like to continue doing odds and ends.
After Teri has settled into retirement, she would like to build another business and be the boss. As we approach retirement in this mentality, we need to be particularly careful that we are saving the proper amount in the proper investments. We want to avoid any sequence of returns risk that could ruin potential income. It is important to avoid withdrawing money for income when assets are worth less – think 2008 to 2009.
We also need to confirm that their assets are protected. This can be challenging when deciding how important retirement is versus funding a too much insurance but the strategy can help this. As important as starting businesses are to them, we can't let decisions now ruin the ability to enjoy retirement.
A proper savings rate
Limiting spending
Keeping goals at the forefront
Evaluating social security
Managing investments and retirement accounts properly
Preparing for healthcare
Fine-tuning income needs
Evaluating spending shock expenses
Do a comprehensive breakdown of Teri and Jonathan’s entire financial picture. We need to know all of the current details about where they are at in their finances. Primarily, there needs to be an assessment to gauge whether or not an early retirement is completely possible.
Once the situation is thoroughly evaluated, we can start to create actionable items that work towards building their goals. This evaluation may take some time, but it is crucial that it is completed before anything else.
Income is going to be the biggest hurdle. Managing taxes is next. The active lifestyle and freedom needs to be accounted for and balanced based on existing assets. It can be done but will need consistent and ongoing planning and adaptations.
This call is to understand your vision, what is most important to you, and what you are looking for from an advisor. I will also explain the services provided and how the ongoing relationship works.
Brian and Mary have already retired but they are only in their early 50’s. To make things better and more complex, they are very active and healthy. They both loved their careers as fire fighters and Brad may even continue to work in a new role at a new department.
Ryan and Emily are active professionals who want to optimize their retirement income and mitigate taxes while they plan for their future.
Tax-smart, income-creating, happiness-promoting retirement plans that protect longevity.
📍 Local in Boise, virtually nationwide