At Farther, we're a purpose-driven retirement planning team. When people are beginning to think about their retirement, it can be difficult to take something as abstract as the concept of financial planning and visualize what that may look like for them in practice.
To help with that visualization, here is a case studies that detail a specific scenario where we leveraged financial planning to achieve a certain goal or solve a concrete problem for a client. This case study is an amalgamation of our client work to ensure client privacy.
Creating Financial Security & Peace of Mind in Retirement
When a client in their early 60s decided to retire from Liberty Mutual, they wanted to ensure a stable, predictable income throughout their lifetime. With several concerns, including maximizing their pension and Social Security, covering healthcare costs before Medicare, and planning for long-term care, the client wanted a retirement that allowed freedom and confidence without worrying about running out of money or unexpected expenses.
How We Built the Client’s Retirement Plan
- Maximizing Pension & Social Security
We analyzed the client’s pension options and chose the best start date to align with their income needs. Since they were eligible for Social Security benefits based on their ex-spouse’s record, we developed a strategy to maximize lifetime benefits. - Covering Fixed Expenses with Guaranteed Income
We structured the client’s income to cover essential expenses (housing, healthcare, and daily living) through guaranteed income sources like their pension, Social Security, and annuities, allowing them to use investments for discretionary spending and growth. - Bridging the Healthcare Gap
Since the client retired before age 65, we explored Affordable Care Act (ACA) marketplace options for coverage and incorporated Health Savings Account (HSA) withdrawals to cover medical expenses tax-free, ensuring a smooth transition to Medicare. - Long-Term Care & Estate Planning
We evaluated long-term care insurance, structured investments for future care needs, and updated the estate plan to ensure wishes were clear and legally protected.
The Client’s Retirement Today
The client now enjoys a financially confident retirement, with core expenses covered, healthcare needs planned for, and a strategy in place to protect their family from future financial burdens.
Other Case Studies
Case Study: How Chad Rishel Helped A Client Navigate An Unexpected Layoff
Case Study: How Chad Rishel Helped A Client Retire in 5 Years
