3573 East Sunrise Drive,
Their Goals and Desires
Clyde has had a long and distinguished career. He was hoping to retire the year he turned 62 – a year from now. He greatly enjoyed his position, his colleagues, and the career, but both he and his wife Bonnie felt that it was time for new adventures. They wanted to explore if retirement and the new life they hoped for was financially feasible in the next year.
Their Financial Lives
Bonnie and Clyde had been money-wise their whole lives, and had a debt-free home, and savings in their retirement plans and other investment accounts. Bonnie had also accumulated her own retirement benefits and various retirement accounts and together they had accumulated what they saw as a substantial nest egg.
Their Questions and Concerns
They scheduled an appointment with the DKGB Financial team at which they wanted advice and help with the following questions:
The DKGB Financial Team took Bonnie and Clyde through a retirement planning process. Over the course of several meetings they offered objective advice for their questions, and endeavored to provide a balanced perspective with both benefits and potential disadvantages of the many decisions they were facing.
At the conclusion of the retirement planning meetings, Bonnie and Clyde had achieved the following;
Implementing their Plan
Once Bonnie and Clyde had a retirement plan completed, that included an investment portfolio planand Social Security plan that they were comfortable with, they took a number of steps to reach their goals. They met with their advisors at DKGB Financial several times before their goal retirement date, to help them with the overall process.
A rollover and consolidation plan for their retirement accounts was implemented, new accounts were set up, and the team assisted with the steps necessary to move their retirement accounts into their new retirement portfolio. They decided to take a monthly income distribution from their portfolio, and a direct deposit was established into their bank account. An account set up and review meeting was held right after the new portfolio was established to go over their statements and to review the rollover and transfer process and their new investments, and answer any of Bonnie and Clyde’s questions.
Bonnie and Clyde were scheduled on a pro-active meeting schedule to get together twice per year to review progress, discuss the portfolio, the economy and the markets, and help with any planning needs that they might need to discuss. They also were set up on an age based calendar that identified many of the time-sensitive financial decisions that they may need to take care of in the future. Bonnie and Clyde were also set up with comprehensive web access to their account, along with regular statements, and an aggregated portfolio and asset allocation view of their entire financial situation. The DKGB Financial team also connected with their CPA and attorney to help coordinate and facilitate any financial information or assistance that their other professionals might need
Bonnie and Clyde had a long-term retirement and investment plan, and more confidence for their future, and they also felt good that they had a long-term partner to help them along the way with advice, guidance, and to manage their retirement assets.
This example is a case study for illustrative purposes and are not actual clients. The principles and strategies and advice are based on our years of experience working with families with similar circumstances. To request a consultation please contact us.