David and Carol
Retirement
Meet David and Carol, a couple who have worked hard throughout their lives and are now approaching retirement age. They want to make sure they have enough saved up to comfortably retire, cover their medical expenses, and leave a legacy for their children and grandchildren. David and Carol are also concerned about managing their taxes and minimizing their tax burden. However, they don't know where to start and feel overwhelmed by the complexity of their financial situation.
They know they need the help of a professional financial planner to guide them through this stage of their lives. They are seeking a trustworthy and experienced fee-only fiduciary financial planner who will act in their best interest and provide unbiased advice. They want a planner who can create a comprehensive financial plan tailored to their specific needs, taking into account their retirement goals, investment strategy, tax planning, estate planning, and risk management.
Their top priorities are:
Case Study - Age 63 & 61
Ensure they have enough saved for retirement and are able to maintain their lifestyle in retirement
Plan for healthcare and medical expenses in retirement
Minimize their tax burden and optimize their tax strategy
Leave a legacy for their children and grandchildren
Ensure their investments are well-diversified and aligned with their retirement goals
Protect their assets from unexpected events and risks
That’s where we come in.
Develop a comprehensive retirement plan that takes into account all sources of income, expenses, and savings goals, including Social Security benefits and any pensions or other retirement accounts.
Review and optimize investment portfolios to balance risk and reward, taking into account the couple's goals, time horizon, and risk tolerance.
Develop a comprehensive retirement plan that takes into account their desired lifestyle, healthcare costs, and any other expenses they may have.
Evaluate potential tax-saving strategies, such as Roth IRA conversions or charitable giving, to help minimize the couple's tax burden and maximize their retirement income.
Create a plan for managing health care expenses in retirement, including long-term care insurance, Medicare coverage, and potential out-of-pocket costs.
Develop a plan for managing legacy assets and ensuring that assets are passed on to heirs in the most tax-efficient manner.
Provide ongoing support and monitoring to ensure their retirement plan stays on track and adjust as needed.
David and Carol have a free consultation with Long Planning, and want to move forward. They work together to conduct a full analysis and strategize the best way to move forward, for them and their children/grandchildren.
By working with a fee-only fiduciary financial planner like Long Planning, the David and Carol can gain peace of mind and confidence in their financial future, knowing that their retirement plan is optimized and tailored to their unique needs and goals.*
Case Study 4 - Retirement
Why Long Planning
What you get:
What you don’t:
Fee-only Fiduciary: We are legally bound to act in your best interest, providing you with unbiased and objective financial guidance
Commission-based influence: We are only compensated by our clients, not banks or third parties.
Specialized Approach: We specialize in working with tax-sensitive retirees, successful professionals, business owners, and work-optional clients.
Tax Optimization: We provide strategies to help you minimize your taxes over your lifetime, not just in a single year.
Stale Advice: We take the time to understand your unique financial situation and create a personalized financial plan that meets your specific needs.
High-Pressure tactics: We will partner with you to help grow and preserve your wealth for a lifetime, not just for today.
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*Note: The above case study is hypothetical and does not involve a real long planning client. No portion of the content above should be construed as a guarantee of the same experience or level of results if Long Planning is engaged to provide investment advisory services.