Case study: Preserving quality of life as a retiree

Managing retirement income and spending is as important as managing pre-retirement accumulation. In our practice, we are proud to help retirees handle these issues so they can focus on their more fulfilling goals.

Even those who have prudently managed their finances and retired with confidence can have that confidence shaken when the economy flutters, markets shift or their core income streams become stressed. This is where we believe the guidance of an experienced financial professional can help bring back their sense of well-being while helping them pivot to address circumstances outside their control.

Adjusting as priorities shift

Susannah, age 68, has been retired for a few years but has recently developed some new concerns. Like many, she fears outliving her money, especially as inflation, a down market, shifting interest rates and rapidly changing tax laws seem to erode her buying power. And though she is healthy, she has started to worry about her future health and the cost of maintaining her mobility and independence.

These are reasonable fears, but that doesn’t mean they can’t get out of control. We believe clarity and proactive decision-making could help her regain her financial confidence. In addition to looking at her mix of assets and investments, we would analyze her financial position over time – including distribution rates from her retirement savings – to account for greater longevity. And by looking at several “what ifs,” we can prepare her for situations like the need for long-term care, home accessibility upgrades and present investment income opportunities that may better fit her desires for stability. We are also experienced in working with developing estate and philanthropic giving plans.

Priorities do change, but sometimes they are driven by uncertainty. With these steps and monitoring of her progress, we believe Susannah would be able to assuage her financial anxiety and take control of her financial situation, enabling her to focus on the vibrant retirement she worked hard to achieve.

The hypothetical example above is for illustrative purposes and is not representative of any actual experience. Individual results will vary.