The Empty Nesters / Near Retirement
Abby and Michael, age 58 and 60, are residents of Ohio. Michael is an executive with a local defense contractor. Abby is a school principal and participant in OH-STRS. They have two children ages 28 and 26, who are on their own now and successful in their chosen careers.
Abby and Michael look forward to their retirement and settling down to enjoy the fruits of their hard work. They would like to retire in two years when Abby is eligible to start her pension and Michael vests in his RSUs.
Does this sound like you?
- Want to know when there’s enough savings to retire
- Need to confirm there will be reliable cash flow during retirement
- Seek advice on the best age to start Social Security benefits
- Would like guidance on charitable giving options
They want to be able to purchase a second home in Florida to enjoy the snowbird lifestyle. They want a second home that their kids can enjoy alongside them, so it needs to be big enough to support that vision. They are willing to adjust their retirement plans a bit to make this happen.
Abby and Michael have several investment accounts including IRAs (both Roth and traditional), 401(k) and 403(b) accounts, and a taxable joint account.
They need help with tax planning now ahead of Social Security benefits in their 60’s and significant RMDs in their 70’s. Their tax preparer does not offer planning or customized investment advice and they are unimpressed with their insurance agent.
They appreciate the ability to have a team manage their investments so they don’t need to add it to the items they have to worry about. They want to know what to expect from the market and their portfolio, but they don’t tend to panic and make changes.
Not much estate planning has been done and they would like to leave a portion of their assets to charity.
If you are experiencing similar concerns and want to work with a professional team to bring all your hopes, dreams and resources together, Buckingham Advisors would be pleased to schedule a confidential, complimentary conversation with you.