Case Study B: Retired
After a 35-year career in higher education, Linda had recently retired. Her husband, a former CFO, had passed away suddenly, and she now manages her finances independently. With a pension, Social Security, a 403(b), and several investment accounts, she felt fortunate to be financially secure—but also overwhelmed by the complexity.
Linda lives comfortably, enjoys volunteering, and cherishes time with her grandchildren. Philanthropy has always been important to her, but she wasn’t sure how to give effectively without jeopardizing her own financial stability.
The Challenge
Linda was ready to fully embrace retirement, but her finances felt disorganized. She had questions like:
- How much can I spend each year without running out of money?
- Should I consolidate my various accounts?
- How should I invest now that I’m no longer earning a salary?
- What’s the best way to support the causes I care about?
- Is my estate plan still appropriate now that I’m managing things on my own?
The Approach
We worked closely with Linda to create a retirement income strategy that aligned with her lifestyle goals. Together, we reviewed all her assets, identified redundancies, and simplified her financial picture. Special attention was given to tax planning, charitable giving, and ensuring her estate plan reflected her wishes.
- Establish a sustainable withdrawal plan that covered her expenses and adjusted for inflation
- Consolidate and streamline her accounts for easier day-to-day management
- Reduce taxes by donating appreciated securities instead of cash
- Set up a Donor-Advised Fund to support her favorite nonprofits now and in the future
- Update her estate plan to reflect her current life and legacy intentions
The ResultLinda was able to: With a clear and thoughtful plan in place, Linda has peace of mind. She’s spending less time worrying about money and more time doing what she loves—volunteering, traveling, and being present with her growing family. |
Disclosure Note: The above case study is hypothetical and does not involve an actual client of our firm. It is intended for illustrative purposes only. No portion of the content should be construed by a client or prospective client as a guarantee of specific results or outcomes if our firm is engaged to provide investment advisory services. Discussions related to tax and/or estate planning are typically conducted in collaboration with our clients' other professional advisors.