Retired with Questions

Tim, 67, & Sara, 68, retired last year. They’ve started volunteering for a local charity and joined their neighborhood pickleball league.

Main Concern

They haven’t started their Social Security benefits because they aren’t sure how it might impact their taxes. They wonder if they are handling their retirement investments properly to minimize taxes and maximize their income.

Planning Details

Tim retired as an HR manager for a government defense contractor & Sara retired as a college professor.

They don’t have any children but have a large extended family that they love to visit as often as possible.

They’ve saved $1,600,000 in retirement accounts, $300,000 in a brokerage account, & Sara has a state teachers retirement pension.

How We Helped

  • Set up a financial dashboard, giving them a clear view of their finances.
  • Developed a Social Security claiming strategy, helping them understand the tax impact of their benefits.
  • Updated their investments to ensure a tax-efficient income stream in retirement allowing them to keep more of their hard-earned savings.
  • Started roth conversions to reduce their future lifetime tax liability and increase their tax-free income in retirement.
  • Built a cash buffer to handle unexpected expenses without disrupting their investment strategy, providing them peace of mind.
  • Set up charitable giving strategies to support the causes they care about while also benefiting from potential tax deductions.
  • Reviewed their long-term care insurance, to ensure they are adequately protected in a chronic care event.
  • We provided legacy planning advice to help them create a lasting impact for their extended family and chosen charities.

Their Outcome

Retiring Successfully

Having a clear understanding of their finances, Tim & Sara are now confident they’ve developed a strong plan for handling Social Security.

Investing With Confidence

They are excited about their next trip to see their extended family knowing they've set up their investments well to support their lifestyle.

Reducing Taxes

They have peace of mind knowing their new estate plan, with Roth conversions and gifting, will lower taxes and help their extending family.

THESE CASE STUDIES ARE HYPOTHETICAL AND DO NOT INVOLVE ANY ACTUAL SRFP CLIENTS. NO PORTION OF THIS 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.

Retire With Confidence &
Live Your Ideal Lifestyle

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