Case Study: How Chad Rishel Helped Three Families with Their Financial Planning

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 are three quick case studies that detail three specific scenarios where we leveraged financial planning to achieve a certain goal or solve a concrete problem for a client. These case studies are an amalgamation of our client work to ensure client privacy.

When a client faced an unexpected layoff and their spouse decided to retire, they needed a financial plan to navigate this major career transition. Together, we developed a strategy that provided clarity, security, and confidence, ensuring they could maintain their lifestyle, support their family, and continue charitable giving while optimizing their financial future.

How We Helped the Clients Achieve Financial Freedom

• Ensuring Cash Flow for a Secure Retirement
  With the sudden loss of income, we created a personalized income strategy, balancing Social Security, pension benefits, and retirement savings to ensure expenses were covered now and throughout retirement. The strategy was designed with tax-efficiency in mind, providing long-term financial stability.
  
  
• Helping Their Family with Strategic Gifting
  The clients wanted to provide financial support to their young adult children. We implemented a tax-efficient gifting strategy, allowing them to assist their children without jeopardizing their financial future.
  
  
• Reducing Their Lifetime Tax Liability
  By analyzing their income sources and tax exposure, we identified key strategies like Roth conversions and strategic withdrawals to lower their lifetime tax burden, allowing them to keep more of their wealth.
  
  
• Protecting Their Family’s Future with an Updated Estate Plan
  We worked closely with their estate attorney to update their wills, trusts, and beneficiary designations, ensuring their wealth would be passed on according to their wishes, while minimizing estate taxes.
  
  
• Continuing Their Charitable Legacy
  Long-time participants in charitable giving, the clients wanted to continue supporting causes close to their hearts. We set up a Donor-Advised Fund (DAF), enabling them to maintain their charitable impact while receiving additional tax benefits.
  
  
• Repositioning Their Retirement Savings for Growth & Security
  We adjusted their investment strategy to balance growth with security, ensuring they had stable income while working toward long-term goals. Their portfolio was realigned for both flexibility and growth potential.
  

The Clients' New Outlook
Our clients are now enjoying retirement with confidence, knowing their financial future is secure, their family is supported, and their charitable giving continues. Their story is a testament to the power of personalized financial planning and thoughtful guidance.

If you’re facing a major career transition, retirement, or simply want to ensure your financial future is secure, let’s connect. Start building your own financial success story today.

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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.

A couple in their late 50s, long-time employees at Liberty Mutual, were considering retirement but were concerned they hadn’t saved enough to retire comfortably. They worried they might need to work longer than expected. After partnering with us, we showed them how they could retire years earlier than they thought while still maintaining their dream lifestyle.

How We Helped the Clients Retire Early with Confidence

• Creating Income Guardrails for Stability & Flexibility
  We helped the clients understand how much they could safely withdraw each year while keeping investments growing. By implementing income guardrails, they now have the flexibility to spend more in good market years and adjust in down years — ensuring savings last.
  
  
• Optimizing Investments for Both Growth & Income
  Their portfolio was initially too conservative for their long-term needs. We reallocated their investable assets to strike the right balance between growth and stability, ensuring reliable income while allowing wealth to grow over time.
  
  
• Developing a Social Security Strategy
  We analyzed the best time for each of them to claim Social Security benefits, weighing factors like maximizing lifetime income, coordinating spousal benefits, and ensuring sufficient early retirement income.
  
  
• Choosing the Right Time to Start the Liberty Mutual FAP Pension
  We carefully evaluated the client’s Final Average Pay (FAP) Pensions, determining the optimal time for them to start receiving payments — maximizing the pension’s value while coordinating with other income sources.
  
  
• Reducing Lifetime Tax Liability
  • ‍Taxes were a major concern, so we developed a plan to:
    
    • Strategically convert traditional 401(k) assets to Roth 401(k) over several years, reducing their tax burden in retirement.
    • Minimize required minimum distributions (RMDs) in the future by shifting pre-tax assets into tax-free Roth accounts.
    • Implement a tax-efficient withdrawal strategy to keep more of their money over time.

The Clients’ New Retirement Outlook
Before working with us, the clients thought they might need to work another five years or more before retiring comfortably. After building a tailored retirement roadmap, they learned they could retire earlier than expected without compromising financial security. They’re now looking forward to travel, time with family, and enjoying a financially stress-free retirement.

Next Steps

If you have a specific planning area or question on your mind that you'd like help with, don't hesitate to reach out to our team by filling out the contact form on our page.