I Plan to Retire in Three-to-Five Years
Retirement Scenario
Amar (60) and Connie (60)
Retire in Three-to-Five Years
How do we take the right steps now to put ourselves on a path to a secure retirement? We want to secure our resources and protect everything for which we have worked so hard.
Congratulations. If you’re reading this it’s likely that you’ve done the right things to put yourself in a good place to retire. You may not feel that way now. That’s normal. Many of our clients don’t feel that way either at first. But after working with us to envision and create a well-planned retirement, they feel confident and excited about their futures. (Well-planned does not mean this is going to be hard. We don’t think it will be.)
In this example, clients get a sense that they are ahead of the pack in terms of their retirement savings. They’ve both had financially rewarding careers and they been disciplined savers. They’ve invested their money well and it’s grown substantially, aided by the recent bull market. They aren’t gamblers, and they’d like to know if they should start thinking about protecting their wealth and the future they’ve envisioned for themselves.
Background:
Amar, age 60, is an executive at a tech company and has worked with his current employer for the last 25 years. His wife Connie, age 60, is a human resources manager.
Between them, they have around $2,750,000 in retirement accounts, $350,000 in savings and they will both qualify for Social Security retirement benefits. When they reflect on the amount they have saved, they are amazed at how quickly their retirement accounts have grown in the last decade. They know they probably already have enough money to retire but they are concerned about making possible missteps that could erode all they have worked for. They saw their investments take a hit during the 2008 financial crisis and they are worried about the same thing happening again.
Amar wants to wait until at least age 65 (five more years) to retire and Connie plans to retire at age 62 (two more years). They want to explore the possibility of “changing gears” to protect their future.
After getting to know the couple, Hunt Country Wealth Management will design a Sovereign Series™ Retirement Plan with the following goals:
- Create a plan for retirement at their desired ages because they don’t have to wait until retirement to put the necessary pieces in place.
- Minimize the risk of a bad stock market derailing their retirement date.
- Protect what they’ll need to retire and grow what they’ll use later in life.
- Optimize their Social Security.
- Plan to protect them both for a 30-year retirement and beyond.
- Plan to preserve the principal.
- Plan to know how much income they can expect from their 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 they reach age 65 and qualify for Medicare.
- Plan for a rising income to maintain a standard of living for a 30-year retirement.
- Create a system for how their income will be directly deposited in their bank account and taxes will be withheld.
Analysis for retiring early would include how to:
- Defuse the risk of a bad stock market derailing their retirement.
- Optimize their Social Security and their pension plan.
- Preserve their principal.
- Protect their standard of living against inflation by planning for a rising income for 30 years of retirement and beyond.
- Plan for health insurance costs until they reach age 65 and qualify for Medicare.
- Show exactly which retirement savings accounts to use first, when and how.
- Create a system for how their income will be directly deposited in their bank account and taxes will be withheld.
Expected Results for Richard and Connie:
- They’ll a plan to manage risk and a path to secure the future they envision for themselves.
- They can retire on their terms, when and how they want.
- They’ll know how much income they can expect.
- With HCWM by their side, planning was easier than they 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 Early
Retirement Scenario | I Recently Lost My Spouse
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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