Case Study Financial Planning

"Can I Afford to Retire Now?"

When his company was acquired, a top executive was offered a new position that was a step-back during his otherwise successful career. He had built up significant net worth, but he did not know if he had enough money to walk away from the new situation and retire.

He came to us for help. We set up a preliminary meeting to review his lifestyle, assets available for retirement, potential severance package, family health care needs, commitments to his children, and plans for retirement. Once we got a sense of what he wanted, we asked him to gather a package of financial information so we could document his assets, investments, homes, living expenses, insurance, and wills, among other things.

After analyzing the data, we prepared various scenarios so he could evaluate his financial position if he retired immediately or if he retired after one year. We analyzed the costs of maintaining the executive's two homes for a period of years, with the idea of selling one and using the proceeds to finance retirement living. We also calculated these scenarios using various returns on investment.

Our client was relieved to see he had many options and could retire and live well by following our plan of action. Several months later, he sent a letter and photographs of his vacation home, thanking us for his new life.

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