Getting Ready for Retirement

Case Study

Learn how the The ARQ Wealth Apex™ helped this couple finally get organized and feel confident as they headed into an adventurous retirement. 

Our clients, both age 59, had planned to retire in the next few years.  On a recommendation from a friend, they were looking for a fee-only financial advisor.  They previously had worked with a financial planner they had met through a neighbor, but that person only recommended annuities and life insurance.  Having managed their money in the past, the husband didn’t like that as he had read that most annuities were high fee and difficult to exit if circumstances changed.  There was little or no follow-up planned, so it didn’t seem to be that helpful of a service.

They have been saving aggressively over the years and have accumulated a little over $1.5 million for their retirement.  However, they were both healthy and wanted to make sure that they will have enough money to continue their existing lifestyle and travel abilities once they retire.  They wanted to be sure their investments were watched closely as they didn’t want to incur big losses in the next bear market.

When the ARQ team met with the couple, they were relieved to find out we didn’t sell any products and acted as their fiduciary.    We got to work looking at their assets, investments, liabilities and goals.  We learned they both wanted to retire within the next four years if possible.  They weren’t sure how to apply for social security or what income strategies would be best for them.

They both loved to travel, so having enough for several trips per year was critical to them.  They were happy in their home, which was mortgage free, so they were looking to have their investments generate the majority of their income.

The ARQ team prepared a comprehensive financial plan for them along with a retirement income plan.  We invested their money in a well-diversified manner using low-cost ETFs and mutual funds.  Another priority was to help their grandchildren with college, so we worked with them to find the best strategy to accomplish that.

We also worked closely with them to develop an estate plan to make sure their money created a legacy for their family.  Once the strategy was in place, we helped them get the plan formalized with their attorney.

End Result

Today, the couple are enjoying their travels and time with their kids and grandkids.  With ongoing support of the ARQ team, they feel comfortable and confident about the future.

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