Broker Check

Retired Couple with Healthcare and Income Concerns

These ladies came to us in their early sixties, married with no children and recently retired. They each had unique concerns. One worried she had started social security too soon. The other was concerned about not choosing a survivor benefit on her pension. They wanted to know if they could live comfortably into their 90’s, as they both had longevity in their respective families. They were concerned about having sufficient retirement income, were unsure of what their healthcare costs would be, and had limited knowledge and understanding of the complicated Medicare system.

After an asset allocation and income analysis, we helped them reallocate their investments to align with long-term spending goals which gave them confidence about their new income as retirees. We helped them get their desired income level that was equivalent to their take-home pay when they were both working. The client was also concerned about her social security. She stopped her benefits to allow it to accrue to age 70 – which allowed for an increase in benefit of nearly 100%! We also helped the other client purchase a life insurance policy to replace the survivor benefit. Now they were achieving their desired income over both of their lifetimes, and their income stream are protected.

Case study results are for illustrative purposes only and should not be deemed a representation of past or future results. This example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required for some investments. No representation is made as to the accurateness of the analysis.