Nearing Retirement

Debbie

Case Study #2

Age:

59

Primary Goal:

Consolidate investment accounts, mitigate taxes, create a reliable retirement income stream.

a mature woman standing with crossed arms

Summary

With a realization of the variety of investment accounts – including 401ks from former employers, stock options, and multiple brokerage accounts – that accumulated over her years as a medical researcher, Debbie began thinking about retirement.

She has four adult children and three grandkids. Debbie lives modestly, owns her home, and looks forward to spending more time with family in retirement.

the challenge

Debbie was pretty sure she had enough to retire, but also hoped she could leave a legacy for her kids (and grandchildren).

Was there a process that would give her the confidence she yearned for in her retirement plan, knowing she was equipped to meet her goals?

Debbie had more questions than answers:

  • How do I consolidate retirement funds?
  • What is my money invested in?
  • What are the tax implications of selling my stock options?
  • Do I have enough money to pay for healthcare, especially if I retire before 65?
  • How do I switch gears from working and saving money to living off my investments?

She knew seeking professional financial help was the right choice to ease her mind and create a plan that truly worked for her family.

the APPROACH

The first step for Debbie was to sit down with someone who would actually listen to her questions and concerns. She wanted to be heard and not sold to. There is an understandable mixture of excitement and uncertainty when it comes to a retirement transition. Once her goals were clearly documented, an individualized retirement plan that aligned with her values and priorities could be created.

the Results

In collaboration with her tax professional, Debbie was able to:

  • Establish a retirement timeline that included future financial changes (social security & medicare)
  • Organize her assets so she knows she has enough money to fund what matters most
  • Reduce potential taxes through the systematic sale of her stock options
  • Maximize the effectiveness of her savings during her remaining working years
  • Create an income stream to fund the first few years of retirement before Medicare and Social Security begin

With a plan in place, Debbie is able to bring back a sense of purpose and confidence to her remaining working years.

In the near future, she will be able to fully embrace retirement and her role as a grandparent.

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Note: The above case study is hypothetical and does not involve an actual Rubino & Liang Wealth Partners 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 Rubino & Liang Wealth Partners is engaged to provide investment advisory services.