William and Jeannette have been married for 39 years, have raised a family, and are looking forward to enjoying more time together in retirement.
At ages 63 and 60, William and Jeannette decided it was time to retire. William has devoted 40 years to his career in sales and sales management and once all of their children were in grade school, Jeannette started a small business.
Over the years the couple has put their children through school, opened a business, negotiated a career change and saved diligently for retirement.
William started as a sales rep at a small manufacturers representative firm. He purchased the firm when the original owner retired and William eventually sold his firm to a larger organization and became Sales Manager at the company.
While a manufacturers representative, William saved for retirement in a SEP/IRA, at the larger organization he saved via a company 401(k) defined contribution plan. Also as part of the agreement to sell his rep business and become Sales Manager, William was eligible for a cash bonus in certain years.
Jeannette created and operated a gift boutique specializing in greeting cards, stationary, designer bags, travel accessories, bracelets, and beads.
Because of the unpredictability of Jeannette’s retail boutique, she never established a retirement plan, opting instead to make IRA contributions. Jeannette also kept larger balances in the company checking account for working capital needs and in the company savings to prepare for recessions and seasonal slowdowns.
On her 60th birthday, Jeannette decided it was time to relax a bit more. Later that year she sold her boutique to a vendor who had expressed an interest. With retirement near, the couple decided to talk with a professional investment adviser about planning, simplifying, and reorganizing their financial situation.
William and Jeannette seek a professional investment adviser to work alongside the couple’s attorney & CPA to coordinate and develop their plans. The scope of the couple’s planning with a professional investment adviser may include; evaluating their future capability to fund their lifestyle, consolidating and simplifying their finances, vacation/travel objectives with their children and grandchildren and as a couple, defining & funding 529 College Savings Plans for each of their grandchildren, and leaving a specific sum of money to each of their children in trust.
