Marcus and Julie's Journey to Successful Retirement: A Case Study

Daniel Thornton January 8th, 2024

Thinking About Retirement? Meet Marcus and Julie

Marcus and Julie, both in their mid-50s, are leading successful careers. Marcus is an upper management executive, and Julie is a creative professional working for a private firm.

Marcus has been with his company for 26 years and has an employer-matched 401(k) as well as some company stock. Julie has been with her company for 22 years and has a 401(k).

Retirement Goals

  • Take a family vacation at least once a year.
  • Contribute 50% towards the expenses of their daughter’s wedding.
  • Gain a clear understanding of how and when to take their Social Security.
  • Explore the possibility of early retirement without compromising their lifestyle.
  • Identify the best strategies to create income from their retirement savings.

How I Could Help Marcus & Julie

I would first get to know their current situation and develop a comprehensive financial plan tailored to Marcus and Julie’s unique goals. For example:

  • Retirement Planning: I would help Marcus and Julie understand their income needs and wants in retirement. Discuss potential income sources, essential expenses, and desires.
  • Investment Management: I would set up portfolios with a high probability of reaching necessary thresholds for retirement income. These portfolios would be adjustable for lower volatility and more income production as retirement approaches
  • Employer Benefit Analysis: I would help maximize the benefits provided by their employer benefit plans and supplement personal savings.
  • Tax Planning: I would analyze their current tax situation and explore strategies such as Roth IRA conversion and “Net Unrealized Appreciation” of their company stock in 401(k)s.
  • Social Security Maximization: I would run multiple scenarios to examine the best timing for taking social security benefits and consider using spousal benefits before turning on their own benefits.
  • Income Planning: I would examine the best way for Marcus and Julie to receive company stock benefits.

My approach is to always become my clients’ decision-making partner in meeting their objectives. I aim to provide my clients with a clear path toward achieving their retirement dreams.

If you, too, are seeking personalized guidance on your journey to retirement, book some time in my calendar; I’d love to hear from you.

This is a case study and is for illustrative purposes only. Actual performance and results will vary. This case study does not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed, and a financial advisor should be consulted. This case study does not represent actual clients but a hypothetical composite of various client experiences and issues. Any resemblance to actual people or situations is purely coincidental.

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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. Investment advisory services are offered through Concord Wealth Partners, an SEC Registered Investment Advisor.

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