If you plan to retire in approximately 5-10 years, we believe now's the time to evaluate your
finances so that you have time to prepare for retirement.
Meet Alexander and Eliza:
Alexander and Eliza, 54 and 53 respectively. Alexander is an executive at a regional utility holding company. Eliza is an architect who co-owns her own firm with a partner. They have three children, Angelica, Alexander, Jr., and James Alexander, who are all independent.
Pre-retirement Total Assets: $ 1,785,000
What’s Important to Alexander and Eliza?
- How much do we need to fund our ideal retirement?
- Will our current savings and investment strategies reach our target on time?
- Once retired, should we change our investment strategy to protect against risk?
- How do we create retirement income from our savings?
- When and how should we each claim Social Security benefits?
- Do our portfolio allocations support our retirement distributions while protecting us from unnecessary market risk?
- In what order should we tap our retirement and savings accounts for income?
- Do we have enough life insurance so a surviving spouse can maintain the same standard of living?
- Should we consider long-term care insurance?
- How will we cover health insurance expenses before Medicare begins?
- How do we adjust our strategy if market conditions change?
We believe the first step for Alexander and Eliza is to sit down with someone who would listen to their questions and concerns. In the past they’ve had mixed experiences with financial advisors and Eliza didn’t always feel like the advisors truly heard what they said. She wanted to be heard and not sold to.
MARIACA'S 5-STEP PRE-RETIREMENT PROCESS
In collaboration with their estate planning attorney and tax professional, Alexander and Eliza would have a retirement plan with the goal to:
THE MARIACA PROMISE
At Mariaca Wealth ...
We know it can be confusing to calculate all the unknowns involved in retirement planning. In fact, we believe the inherent complexity of the process often makes people put pre-retirement planning on hold. We’re here to help you know what to do and in what order to do it so that you have step-by-step guidance and support in working towards your retirement.
And, if you or your spouse are not not quite as well versed as you'd like to be on financial matters, you don't have to wait for something unexpected to happen. At Mariaca Wealth, we have ongoing educational programs, videos, and client educational events in place that will increase you or your spouse’s financial literacy and help prepare both of you for a less stressful, more enjoyable life together.
Important Disclosure: The above case study is hypothetical and does not involve an actual Mariaca Wealth client. The case study is for illustration purposes only and it is not intended to provide you with any customized investment advice. Nothing in this case should be considered as a recommendation or advice to buy, sell or continue to hold securities or other investments, or take any specific action regarding any tax matters. Accordingly, certain of the securities and strategies referred to may not be suitable for all clients. 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 Mariaca Wealth is engaged to provide investment advisory services.