Stephen and Nicole
Stephen and Nicole thought they were on track, but an early retirement offer from Stephen’s company forced them to consider retirement earlier than originally planned. We examine these problems in this retirement planning case study.
The issues keeping them up at night.
Suddenly, Stephen was forced to make a decision about retirement. He and Nicole thought that they had at least three more years before they would need to take action. Over their careers, they did a good job saving in their 401(k) plans, and had accumulated stock options, restricted stock, and deferred compensation. But was it enough?
A clear path forward.
Stephen and Nicole realized this was a critical time and needed help from someone with extensive experience in executive compensation issues and retirement. Given the deadline for Stephen’s response, they didn’t want to risk making this decision on their own.
Gather the data
The details of each retirement and executive compensation plan, their investments and their desired retirement living expenses.
Consider all the options
Collaborate with their CPA to review each retirement scenario, including early retirement for both, and determine the odds of success.
Choose a strategy
Select a retirement option they were both comfortable with, including an investment strategy and sustainable withdrawal plan.
Execute the plan
Establish new accounts and start putting the new strategy into play.
Seeing all of the options side-by-side allowed them to make a confident, informed decision they could rely on for the rest of their lives.
A retirement on their terms.
Stephen chose to accept the early retirement package and couldn’t be happier with his decision. While Nicole wasn’t quite ready to say goodbye to her career, she wanted to focus on slowing down and no longer missing annual trips with her girlfriends.
Stephen finally has time to work out every day and play golf with the guys on Friday mornings, and has started mentoring young professionals. Nicole is now preparing to retire years earlier than she thought possible, still making time to enjoy life along the way. They continue to take two big international trips each year, along with an annual beach getaway to 30-A.
Stephen and Nicole have confidence in knowing that their retirement plan is sustainable, and they regularly review it to ensure it stays stress-free.
For privacy reasons, the case study described above is hypothetical and the facts do not apply to an actual Prana Wealth client. This retirement planning case study should in no way be construed as a guarantee that a current or prospective client will experience similar results or levels of satisfaction if he or she engages with Prana Wealth for wealth management services.
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