AT A GLANCE
Michael and Holly are nearing the end
of their careers with unique financial
opportunities and decisions to make.
“How do we best allocate the proceeds from selling the business?”
“When do we need to starting taking our social security?”
“Our taxes are higher than ever, how can we reduce this expense?”
THE SITUATION
About Our Client’s Situation
Michael and Holly are ready to retire. But is their plan
ready to support a work-free lifestyle?
Michael and Holly are facing multiple transitions and are in search of a financial advisor to help ensure they’re making the right choices. Holly is retiring as a labor and delivery nurse, and Michael is in the process of selling his stake in a small tech-based company he founded 10 years ago.
With Michael selling his business and both of them retiring, they're wondering what they should do with the proceeds from the business, how they should replace the income from their paychecks, and if they'll have enough resources to support the lifestyle they've become accustomed to.
In their own words “ we don’t know what we don’t know." They need an advisor to assess their situation, give advice on the items that are top of mind, and identify the problems and corresponding solutions to issues they haven't even thought about yet.
THE STRATEGY
Our approach
THE OUTCOME
The results
After working with Medicus, Michael and Holly have a plan on what to do with the proceeds from the sale of Michael's business.
They have a social security claiming strategy and understand the “why” behind it.
Michael and Holly understand how much income they can comfortably live on and the situations that would call for an pay raise or decrease.
In addition to answering the questions they brought to our attention, we addressed a number of other important aspects of a quality financial plan including a tax-efficient strategy to gift assets to their kids and grandkids while they are still living.
THE BLOG