Broker Check

Are You Ready?

OFTEN WE MEET PEOPLE WHO ASK US "ARE WE READY TO RETIRE?" CONSIDER THE FOLLOWING SCENARIO. A COUPLE COMES TO SEE US AS THEY NEAR RETIREMENT. LET'S CALL THEM DOUG AND JOAN.

 Both had worked for 25 years, had pensions and had faithfully contributed to their 401(k) plans. Even though they were technically eligible to retire, they wanted professional advice about their readiness to retire.

 

We set to work answering their question using Seros360™, our proprietary process that analyzes, guides, and mentors people as they prepare to retire. We definitely got to know their finances, but more important to us, we got to know them. They shared their journey with us, telling us how they were currently living and how they expected to live, once they retired. All this information enabled us to show them what retirement would really look like if they retired now. They were surprised to see quite a gap between the life they were currently living and the life they would be living in retirement.

Applying Seros360™, we analyzed how to shrink the gap. Then we showed them that they could be farther ahead if they worked for two more years and employed two measured savings strategies. Joan and Doug saw the benefit and continued to add to their savings and 401k for two years. Also, during those two years, they took part in our “Retirement Test Run” program and lived on the income they could expect in retirement. With a dedicated account to draw from, we helped them to be more aware of their spending habits, and they learned to make the choices that really brought them happiness. Our coaching and support guided them through every step of the process.

 

Sure, they had to rethink some things, but in that process they learned what was really important to them. Their confidence continued to grow with Seros in their corner to answer any spending or investment questions. The mentoring they received throughout their “Retirement Test Run” was what they needed in order to retire feeling comfortable and liberated.