Sample Article - TYPICAL CLIENT STORY

Meet Jane and John.  They are in their mid-50s.  Both have successful careers and enjoy their professions but Jane is beginning to feel like it’s time for a change.  

Jane has enjoyed her career working as a civilian employee for a federal government agency.  With one child successfully launched, the other getting ready to graduate from college and almost 30-years of government service under her belt, Jane is starting to wonder what’s next for her.  Some of her friends and colleagues have already retired but after 1-2 years of a whirlwind activities to check off items on their bucket lists, they seem to be at a bit of a loss for what to do next.  Jane feels like there has to be something else other than work or retirement but she doesn’t know what it is.  

John enjoys his job with a large government contractor. He has a flexible work schedule and the ability to work remotely.  John continues to be challenged in his job and knows that he can continue working, even if part-time, into his 70s if he chooses.  Both John and Jane want to travel more while their health is good and before their children start having families of their own but neither are ready to fully retire.  John and Jane have been good savers their entire lives, their home is almost paid off and they haven’t accrued a lot of debt to put their kids through college.  

As a federal employee for over 30 years, Jane has a pension that will provide lifetime income as well as retiree health insurance benefits to her and her husband.  John and Jane have always been prudent spenders and they have both been saving into their retirement plans but they don’t have a good understanding of their overall financial picture and they aren’t sure if they reduce their income if they will be able to eventually retire when they want.  

Their priorities right now are travelling, having more control of their time – the 9-5 routine is getting a little tedious for both of them, continuing to be activity engaged in their professions, having more time to focus on their health and physical fitness and understanding what options they have for reducing their income and what impact that may have on their eventual retirement date.  They have life insurance, long-term care insurance, disability insurance but they don’t understand how these products will help them over the long-run and the premiums continue to go up.  They haven’t updated their estate plan since the children were young and even though both children are independent or about to be independent they still have concerns about the them inheriting outright when they are still trying to find their way in the world.  

(Should I talk about money scripts here).  

Both are happy with their investment options through their retirement plans.  They have a small taxable savings account.  Jane doesn’t want to rollover her TSP when she retires in order to have enough to meet an advisor minimum.  Although, there aren’t a lot of options in the TSP the cost is very minimal and she doesn’t want to have to pay to get advice.  They know they have some biases when it comes to money and spending.  What they really want is someone to get to know them, their values and goals and help them build a plan for now that has flexibility to change as their situation may change.