If retirement is your next adventure,
we’ll light the way so you can retire confidently.
Case Study: Sarah & Sean
“Can we retire in 5 to 7 years?”
Initial Situation
- Age: Sarah, 60 | Sean, 58
- Feeling: Anxious
- Goals:
- Retire in 5 to 7 years
- Live comfortably; similar lifestyle
- Income: $250,000
- Investments: ~$840,000
- Other considerations: Pension, health insurance
We met Sarah at one of our retirement seminars organized by her employer. She and Sean had been diligent about budgeting and saving for retirement, but they weren’t sure if their chosen investments were appropriate for their age and goals. Their three kids had all recently graduated from college, and now that the tuition was paid, it was finally time to start seriously thinking about their own future.
They knew retirement was possible, but the thought of transitioning into retirement felt intimidating. Both Sarah and Sean expressed anxiety about their retirement readiness, and they wanted to make sure they didn’t “take the leap” and then regret it. They wanted to be able to live comfortably in retirement, but they weren’t sure what that looked like, or what kind of lifestyle they would be able to afford.
Situation Now
- Status:
- Sarah: Happily retired
- Sean: Retiring in 14 months
- Feeling: Confident
- New questions:
- Should we downsize our home?
- Can we give our daughter a loan to help her buy her first home?
Sarah and Sean both decided to work until they turned 65, recognizing that some health concerns meant waiting until Medicare age was prudent. Sarah has now been retired for about a year, and while Sean still enjoys his work, he is looking forward to retiring next year and spending more time traveling. He’s considering part-time consulting just to stay busy.
They’re currently doing some renovations on their 4-bedroom home, but they’re not sure whether to keep it or sell it once they’re done. Either way, they’re happy to know that they can afford to stay if they want to, since they’d love to have space for their grandkids (coming soon?) to come visit.
How we helped Sarah & Sean
Sarah and Sean asked us to map out a variety of different scenarios for them, and our Wayfinder software made that possible. We showed them how much they could afford to spend in retirement if they stopped working immediately, or if they worked an additional 3, 5, or 7 years. We identified some key risks—most importantly the costs of pre-Medicare health insurance—as well as their potential exposure to stock market declines.
Ultimately, our advice helped them to feel confident selecting an appropriate path forward. They were able to understand in concrete terms the costs and benefits of different decisions, and they now know that they have a lot of flexibility in retirement. They’re planning a trip to Europe next year, and we’ve helped them understand how much they can afford to spend.
The client stories are based upon the specific client circumstances, each of which had a particular set of goals and objectives. The services described in these stories may differ from services provided to other clients, and the results achieved may not be similar, as every client’s goals and objectives are unique.
