Rod and Maggie May* were referred to us by a good friend and local CPA in town. They are a great couple that had made good-solid incomes during their working years, but they were not big, six-figure earners. Instead, they were magnificent savers. They had just retired in their late 60's and they had over $1.4 million dollars in a mix of retirement and brokerage accounts.
They wanted to know what their retirement income could be....and how to create it. Oh, and Rod had just been diagnosed with Alzheimer's.
What We Did
Retirement is challenging because, outside of Social Security, investment returns are usually the only source of income. Because of that reality, it is incredibly important to understand how well your income needs from a portfolio impact the portfolio's ability to create an income over the length of your life, particularly given the very real possibility of bear markets and medical expenses. In the May's case, they were worried about their ability to pay for Rod's Alzheimer's costs, given that nursing homes charge approximately $70,000 per year for care.
Contact us if we can be of help.
* Ron and Maggie May are fictional names for real clients.