Couples with grown children
(or none) pre-retirement
Ron and Lisa
Approach
When Ron and Lisa came to MAP, they had accumulated a sizable net worth that consisted of retirement plans, some cash, pensions and life insurance values. Their children were young adults who were mostly financially independent but had lived at home some of the time and Ron and Lisa helped them with unusual expenses on occasion. Ron and Lisa had been diligent in saving and building account values, but had never developed an investment strategy beyond a general philosophy of wanting some growth.
Ron and Lisa also knew they paid significant taxes and were interested to know if it would be possible to decrease their tax burden. They had obtained what they believed was adequate insurance to minimize their risk if they died or were sick or if a disaster or accident occurred, but didn’t know if it had the best available benefits or cost. They had done Wills and basic estate planning when the kids were young, but needed an update to address what would happen with their current wealth.
Outcome
With MAP’s planning assistance and guidance, Ron and Lisa gained a clear picture of their holdings and outflow, as well as sources of income now and in retirement. They also have a strategy for using debt to minimize taxes and keep more money invested longer. With accurate projections provided by MAP, they’re confident they are on track to fund their identified targets of accumulation, and have a joint understanding of their commitments to make this happen. They believe that having a trusted advisor that fully understands their beliefs and objectives will ensure their success while feeling good along the way.