Stay Retired

Vinnie

Vinnie is in his mid-60s and has a wife and three children. He used to work at a senior level job in insurance.

Goal

Vinnie’s finances were disorganized and difficult to access – 401(k)s from various employers, bank accounts, brokerage accounts, and more. Initially, he wanted to bring all his assets under one roof to streamline and reduce complexity. Retirement planning then became his primary concern.

Challenges

Vinnie’s greatest challenges were that:

• With the constant demands of his job, travel, and family, his finances dropped to the bottom of his priority list. He didn’t have the time or energy to look after his financial resources.
• Vinnie was keen to retire by the time he was 60 to 62, while maintaining the lifestyle he’d grown accustomed to.
• As he was nearing retirement, Vinnie had many worries regarding retirement – whether he had a big enough investment portfolio, whether it would perform well enough to support his lifestyle, whether it would continue to perform in a market crash, what would happen in a global financial crisis type scenario, and so on.
• Vinnie also wanted to protect against having to go back to work in a worst-case scenario, as he was sure he wouldn’t be able to find another job at a similar income level, especially nearing retirement age.

Approach

Vinnie knew he wanted to work with a financial planner to consolidate his assets and figure out his retirement plan, as he simply didn’t have enough time or energy to do it all himself.

Results

Vinnie’s retirement plan allowed him to meet his goal of retiring early, at 61. He’s now able to spend more time with his family doing things that matter to him. He’s no longer worried about having to go back to work.

Vinnie also has a better grasp of how his investment portfolio is performing and has confidence that it will support him through retirement.

Note: The above case study is hypothetical and does not involve an actual Milestone 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 Milestone is engaged to provide investment advisory services.