When or How to Retire

client: Jim & Carol

Jim and Carol have been thinking about retiring for years now, however they don’t necessarily know when the right time would be. They both had long careers and enjoy their work, they would like to continue to work but more on their own terms. They think they have enough money to last through retirement but have no idea where to start and how to make the once in a lifetime decisions on Medicare and Social Security. The rising costs of living, healthcare and taxes concerns them, and they want to make sure they don’t make any avoidable missteps. They know they like the outdoors and would like to do some “bucket list” traveling and spend time with the grand kids, but after that, they fear potential boredom.

Going through our encore process gave them the confidence that they could retire whenever they wanted, because they discovered they did have enough money to retire. We were able to guide them through their big one-time life decision with Medicare and Social Security to help them get the most out of those benefits. Armed with the knowledge that they could step away from work whenever they stopped enjoying it, this allowed them to continue to work on their own terms. Only working because they wanted to and not because they financially had to. During this time, they started attending our Encore University, where they met other pre-retirees and recent retirees just like them. This provided a community and platform for them to talk about successes and missteps that their peers experienced with their retirements. Learning from others eventually gave them a clear vision of how they wanted to spend their encore time of life.

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These fictional case studies represent unique individual situations and outcomes.  Examples are for illustrative purposes only and may not necessarily be replicated.