Donald & Jane Sarbol
The People
- Early 50s
- Married
The Situation
Donald and Jane came to us looking for clarity about how to plan for their upcoming retirement. Although they both were committed to continue working for at least another ten years, they were beginning to feel unsettled about their retirement milestone. Their most pertinent question was, “will we have enough?”, followed by “what do we need to do today to make sure we have enough?”. These are some of the most common questions that are asked by clients who are approaching their retirement years.
Together we decided to initiate a retirement plan which would lay out the framework for what their retirement nest-egg would look like given their current net worth and savings strategies. Ultimately, by taking a snapshot of their financial situation, they were able to gain significant clarity about how their retirement picture was unfolding. We went through several “what-if” scenarios to see the potential impact of additional savings over the remainder of their working years, what potential investment returns they would need in order to achieve their retirement income goals, and how to best structure legacy goals for their estate.
Once we decided on a plan of attack, we committed to a yearly financial review to track their progress and to refine their plan if necessary. As a result of this process, Donald and Jane felt reassured about their current financial situation, and also encouraged to stay committed to their renewed savings strategies over the remainder of their working years. Their retirement goals and dreams were now backed up by substance, and they both felt truly excited about where their lives were heading.
Highlights of a Retirement Plan:
- Review current investments and investment allocation
- Review current cash flow, savings, and additional strategies
- Review estate goals, including insurance coverage needs
- Review income needs and goals for retirement
- Review and update the plan on an annual basis
Would you like to resolve that unsettled nervousness you feel towards retirement?
Take the first step towards a customized retirement framework.
