CASE STUDY:
Jim and Cathy are Nearing Retirement
Meet Jim & Cathy – Age: 60 & 57
Their Situation:
Jim has been working at a utility company for over three decades, while Cathy has been a stay-at-home mom, raising their two kids. They’ve saved $750,000 in a 401k and $300,000 at the bank, and have put in the hard work to pay off their home. When Jim retires, he will be eligible for a pension or a lump sum payout from his company.
![[Case Study] - Retiring - Hero](https://www.planningretirements.com/wp-content/uploads/2022/12/Case-Study-Retiring-Hero.webp "[Case Study] - Retiring - Hero")
![[Case Study] - Retiring - Problem](https://www.planningretirements.com/wp-content/uploads/2022/12/Case-Study-Retiring-Problem-e1670883297805.webp "[Case Study] - Retiring - Problem")
Their Concern:
Jim is thinking about retiring in the next two years, but his company recently offered a voluntary separation deal. They’ll give him two weeks of pay for every year he’s worked there if he retires within the next three months.
However, Jim and Cathy are not sure they can afford to retire without Social Security, and they don’t know if they can handle the health insurance costs until they are eligible for Medicare. They also don’t know whether they should take the monthly pension or the lump sum payout when Jim decides to retire.
Their Solution:
Jim and Cathy met with a Wealth Manager at The Retirement Planning Group, who helped them determine if they could afford to retire two years early by creating a custom plan for them. The results showed that not only was it possible, but Jim could also receive a partial lump sum and a partial pension.
The Wealth Manager also found a strategy for optimal income withdrawal that would qualify them for an ACA Health Insurance subsidy, saving them $513 per month on health insurance until age 65. They also established a Social Security collection strategy that would increase their lifetime Social Security benefits by $118,094. Lastly, investment recommendations were made only after the plan was finalized.
Disclaimer
The above example is representative of an actual client, but we can’t use their real name or picture due to privacy concerns. Information provided is for educational purposes only and does not constitute investment, legal or tax advice. Past performance of any market results is no assurance of future performance. The information contained herein has been obtained from sources deemed reliable but is not guaranteed. Please contact TRPG for more complete information based on your personal circumstances and to obtain personal individual investment advice.
Trusted By People Like You
We take pride in delivering exceptional service. Here's what some our clients have to say about their experience.
07/16/2024
"The many years of association has built trust and I truly feel that my personal interests are well cared for. I know the caliber of people that I deal with in the group as well as my advisor. There may be some better out there, but you would have a hard time convincing me of that."
05/07/2024
"I've been a client of theirs since 2007. The whole staff is very personable and knowledgeable. I feel my money is well taken care of. I recommend them to my friends and family."
07/09/2024
"We chose TRPG because of the great service. Understanding our needs & listening to our opinions & concerns."
08/26/2025
"Always helpful. Explains to me any questions I have. Keep me informed of anything that is changing or that I might be interested in. Ask me questions that gets me thinking about possible changes coming up."
09/24/2024
"Great people who care about you individually and help you meet your dreams!"
01/22/2024
"The Retirement Planning Group continues to keep our best interests at the forefront. They maintain a great level of communication as to their actions and constantly look for growth opportunities."
09/19/2024
"My advisor has always gone above and beyond. He is always easy to get in contact with and takes care of any issues. He will contact me regularly to see how things are going and if I need anything. More than happy with him and everyone I’ve dealt with at the business."
07/12/2024
"Everyone in the organization is there to serve the clients! With expertise, extensive applicable knowledge, and excellent people skills, this group performs! Results speak for themselves."
03/19/2024
"Everyone at TRPG is friendly and efficient. My questions are answered promptly and in a way that I can understand the sometimes complex financial issues."
04/23/2024
"Great service. That is what it is all about. Easy to get appointment to sit down with advisor and always helpful. 100% recommend."
07/09/2024
"We really like and trust our advisor and the firm. Very thorough, committed to great customer service, while also committed to giving you the best results possible."
Reviews are voluntary and provided by current clients. Clients have not been paid, nor do they receive any other compensation for making these statements. As a result, there is no conflict of interest to report as the client does not receive any material incentives or benefits for providing the testimonial.
Ready to get started?
Our firm has been helping families and individuals take control of their financial future for over 15 years.
Fill out the form below and one of our wealth managers will reach out to you and answer any questions you might have.
By submitting this form you consent to receive emails, phone calls, and text messaging communication(s) from The Retirement Planning Group at the email and number above. Your consent is not a condition of any purchase or obligation. Message and data rates may apply. Message frequency may vary. You are also acknowledging our Privacy Notice and Privacy Policy.