Names: Monica & Michael
Ages: 54 & 51

Primary Goal

Optimize their financial plan + reduce taxes so their nest egg can allow them to make work optional.

The Challenge

Monica & Michael 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. Michael is a tenured professor and Monica is a respected local 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 are not ready to leave their passions behind 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 sizable equity in their primary home
  • Protecting themselves with the right types of insurance

So, what’s the problem? Monica & Michael wonder if they’re missing something. Do they have the right strategy? 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 they aren’t in a hurry to retire, they want to know they have the option.

The Approach

Monica and Michael 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.

The Results

When Monica & Michael hired a financial planner, they were concerned about more than just their investments. They wanted help with the entire financial picture, especially taxes. By engaging in a comprehensive planning process they:

  • Improved asset allocation to better align with their goals
  • Implemented a tax-efficient investment strategy
  • Reduced investment costs
  • Developed a smart, sustainable rebalancing strategy
  • Reduction of tax liabilities through charitable giving, Roth conversions, social security timing, and more
  • Optimizing contributions to available accounts such as employer retirement accounts, IRA’s, and tax advantaged accounts for medical expenses

Monica & Michael 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.

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