Confidence through Proper Planning

Primary Goal: Retire Early

Bob and Carol were both approaching age 60 and felt they had done a decent job saving. With a newfound desire to travel and spend more time with new grandkids, they wondered if earlier retirement was a possibility. However, a few concerns were keeping them up at night, including thoughts like:

How can we bridge the gap for health insurance if we retire before Medicare begins at age 65?
We are both currently healthy and would prefer to spend more money early in retirement while we feel good enough to travel. How can we safely plan for this financially?
Given the majority of our retirement is held in pre-tax 401(k) plans, are there ways we can mitigate the significant taxes we will owe once Required Minimum Distributions begin?

The Results:

Bob & Carol began working full time with a financial planner. A comprehensive plan was built that addressed everything they needed to feel confident about their upcoming retirement:

Gameplan for healthcare needs prior to Medicare, including a strategy that may allow them to receive a subsidy toward their insurance premiums.
An income plan that clearly defines Bob & Carol’s safe monthly withdrawal amount from their portfolios (as well as necessary tax withholdings).
A tax efficient investment allocation that better aligns with their goals.
Reduction of tax liabilities through Roth conversions, Social Security timing and charitable giving

Bob & Carol are now retiring with confidence and looking forward to travel and visiting grandchildren more often in the years ahead. Their retirement plan is monitored closely, and Bob & Carol’s team of advisors keeps a close eye on any tax and legislative changes they might need to be made aware of.

NOTE: THE ABOVE CASE STUDY IS HYPOTHETICAL AND DOES NOT INVOLVE AN ACTUAL OCEANSIDE ADVISORS CLIENT. NO PORTION OF THE CONTENT SHOULD BE CONSTRUED BY A CLIENT OR PROSPECTIVE CLIENT AS A GUARANTEE THAT HE/SHE WILL EXPERIENCE THE SAME OR CERTAIN LEVEL OF RESULTS OR SATISFACTION IF OCEANSIDE ADVISORS IS ENGAGED TO PROVIDE INVESTMENT ADVISORY SERVICES.

Success Stories

Serving those retired or nearing retirement in the Lowcountry