The Art of Wealth Management

Case Study: Planning for Retirement

These stories are hypothetical examples of how Dodds Wealth Management Group could assist clients in various situations. Personal information has been used as a basis for each example, but each has been modified to protect our members’ privacy.

*Please note that the information below is not a client testimonial, but instead is an example intended for general information only, and is not predictive of your individual results. Your results will vary. These are illustrative of the types of clients we serve.

There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

This information is not intended to be a substitute for specific individualized tax or legal advice, We suggest you discuss your specific tax or legal issues with a qualified tax advisor or attorney.

Planning for Retirement

Victor is a successful business executive who is approaching retirement. Although he generates a mid-six-figure income, Victor and his wife Joy live frugally. That’s because both grew up in impoverished neighborhoods, and still have anxieties about not having money. Even with a high net-worth, they don’t know how much is enough. With their financial accounts scattered among several investment professionals, it is difficult for the couple to accurately grasp their net worth. Plus, it is hard for them to know how much cash flow they’ll have during retirement, or how it can be generated.

As financially conservative individuals, this makes Victor and Joy anxious about their golden years.

Dodds would review their situation and would note their multiple, scattered assets, such as a substantial 401k account, IRAs, annuities, CDs, and a generous life insurance policy. By pulling these dangling accounts together, we would give Victor and Joy a cohesive, understandable snapshot of their finances. We would then develop a reasonable retirement spending plan for them, and devise an income and dividend strategy portfolio that would seek to provide monthly distributions to cover their expenses. The portfolio now pays them – rather than them paying into the portfolio.*

Victor and Joy are enjoying retirement more with less continual worry about if they’re saving enough. Plus, their portfolio could give them a monthly “paycheck” – a true comfort to both of them. And it would be easy for them to get an accurate reading on their current net worth any time they wanted to by using our Account View.

*Please note that the statements above are for general information only, and are not predictive of your individual results. Your results will vary.