I Plan to Retire in Three-to-Five Years

Retirement Scenario

Amar (60) and Connie (60)

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

     

    The Sovereign Series™ Retirement Plan is our signature planning service that will show you how to retire. Powered by the Prepared Retiree Method™, our guided step-by-step framework is easy to follow and provides a written financial plan that outlines the best use of your resources and a path to produce reliable income. Gain clarity of direction and a stable foundation to experience the freedom of a well-planned retirement. 

    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 
    • Feel supported and reinforced working with a Retirement Income Professional

    Guided Investing™ is our comprehensive investment management service. It was designed to help you create a master plan for your finances and offer a strategy to help you optimize and preserve your resources. This process starts with defining your why. It can be applied to investors who are saving for retirement, building wealth, wanting to manage risk or all of the above.

    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 an professional to manage risk and monitor performance

    The 90-Minute Strategy Session is a 1:1 session with Chris Merchant, CERTIFIED FINANCIAL PLANNER™. Sometimes you just want to talk to a professional. Whether you want to tap into a broader understanding of a financial topic such as How to Prepare for Retirement or you seek a second opinion on your investment strategy, this session is a great time to discuss the financial considerations on your mind.

    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 
    • Feel supported and reinforced working with a Retirement Income Professional
    We believe retirement should free you. It all starts with a plan.

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