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client: Joe & Julie

Joe and Julie have worked with the same financial advisor for years. Overall, they were happy with their experience and felt the advisor did a good job helping them get to where they were financially. However, as their life evolved, their needs and wants changed. They saw friends and coworkers retire, some got it right and others struggled. They decided they didn’t want to take any chances with something so important and they wanted to partner with a firm the specializes in retirement. When interviewing our firm, they really appreciated our Encore Process, which starts by getting a better understanding of how both parties think and feel about their money.

Like most couples, Joe and Julie think very differently about money. Joe is very detailed oriented and likes to know the ins and outs of how the plan will work year by year, whereas Julie is more big picture and wants to talk more about how to enjoy things along the way. Together they have great balance, but they hear things differently and have different fears. Discovering these preferences early in our Encore Process, through the Financial DNA exercise, allowed us to make sure the plan addressed their individual needs and preferences, especially with their new potential lifestyle. Joe was able to see how we make the plan work, when they would turn on programs like Medicare and Social Security, and how much tax they would pay each year. Julie gained confidence planning for unforeseen circumstances like a need for long-term care or a 2008 market downturn and knowing that they would not be a burden on their kids.

They even found different Encore University events that spoke to each of them. Joe was really into the educational events, like when we had a CPA present on how to pay less taxes in retirement. Julie liked the more social events, like the cooking class and wine at the museum, because she enjoyed having a community with other retirees. Their original advisor did a good job getting them started, but could not offer the same services and resources specific to retirement that Collier does. It was time for Joe and Julie to graduate to a firm that is built to support their encore stage 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.