I Recently Lost My Spouse
Retirement Scenario
Sharon (62)
Recently Widowed
My life has been turned upside down. How do I make the best choices for my future retirement and security?
In this example, our client is facing the prospect of moving forward on her own after the death of her husband. She’s not a gambler and doesn’t want to rely on the performance of the stock market for her near-term retirement income.
Background:
Sharon, 62, had dreamed of the day she and her husband Sam would retire. Last fall, Sam died unexpectedly. Sharon is a music teacher and has been an educator for over 30 years. She has her husband’s life insurance of around $600,000, a retirement account of $450,000, and other savings of $75,000. She knows she will also have Social Security and a small pension from her husband’s employer. Sharon’s plans for retirement have changed dramatically in the last year. With all the upheaval and financial matters to coordinate, she wonders where to start and whether she will be able to retire confidently, knowing her parents have both lived well into their 90s. She also wonders if it makes sense to pay off the mortgage on her house. She’s also considering downsizing to a smaller home.
After getting to know Sharon, Hunt Country Wealth Management will design a Sovereign Series™ Retirement Plan with the following goals:
- Determine if she should pay off her mortgage.
- Understand her spousal benefits for Social Security and the pension.
- Minimize the risk of a bad stock market derailing her retirement date.
- Plan to protect her for a 30-year retirement and beyond.
- Plan to preserve the principal.
- Plan to know how much income she can expect from her resources.
- Plan to make the best choice as to which retirement savings accounts to use first, when, and how.
- Plan for health insurance costs until she reaches age 65 and qualifies for Medicare.
- Plan for a rising income to maintain a standard of living for a 30-year retirement.
- Set up her retirement accounts so distributions are directly deposited into her bank account and taxes are withheld.
Expected Results for Sharon:
- She’ll know she can live independently without relying on anyone for her financial security.
- She’ll know how much income she can expect.
- She’ll know whether or not she should pay off her mortgage.
- With HCWM by her side, planning was easier than she thought it would be.
Read Additional Scenarios:
Retirement Scenario | I’m Ready to Retire
Retirement Scenario | I Recently Experienced a Financial Windfall
Retirement Scenario | I Plan to Retire in Three-to-Five Years
Retirement Scenario | I Plan to Retire Early
Retirement Scenario | I Have a Dependent Child
Our Services
Looking for retirement assistance? Look no further! At Hunt Country Wealth Management, we specialize in retirement planning. We offer two services tailored to your needs as you approach retirement. Our Retirement Audit™ is a quick way to find out if you're on track and help you prepare. The Sovereign Series™ Retirement Plan is a comprehensive in-depth financial plan that provides a roadmap to transition into retirement with confidence. Not sure which service you need? We can help with that too.
This service was designed for those who want to...
- Feel confident and prepared for retirement.
- Know the amount/regularity of income your resources can produce.
- Have control over your financial future and clarity of direction.
Looking for better control over your investment strategy? Align your investment portfolios with your goals using our exclusive Guided Investing™ service. Our comprehensive investment management helps you create a strategic plan, with tailored strategies to optimize and preserve your resources. It starts by identifying your goals and can be personalized for retirement, wealth building, risk management, or multiple objectives. Feel supported and empowered as you make progress towards your financial milestones.
This service was designed for those who want to...
- Feel more confident in their investment decisions.
- Design a strategy to reach planned financial milestones such as retirement.
- Collaborate with a professional to manage risk and monitor performance.
Are you interested in discussing a unique financial situation? If you have any general financial or investment-related inquiries and prefer a collaborative approach to address them, we would be delighted to assist you. Our Hunt Country Hourly Planning™ service offers financial advice on an hourly basis, without minimum asset or income requirements. With tailored recommendations and insights from our experienced professionals, get answers to your questions and valuable guidance.
This service was designed for those who want to...
- Gain clarity on intricate financial situations with professional guidance.
- Make informed decisions on personal finances, investments, or estate planning.
- Access financial advice as needed.
We believe retirement should free you. It all starts with a plan.
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