Bernice and Terry Simcoe*
NET WORTH: $2M
Bernice and Terry, a couple in their mid-sixties, engaged our wealth management services as they approached retirement. With a combined net worth of approximately $2 million, they faced the challenge of ensuring their assets would support a comfortable and secure retirement. They sought guidance on income generation, health care costs, and legacy planning to maintain their lifestyle and provide for future generations.
Our Approach
Our team adopted a holistic approach to retirement planning, considering Bernice and Terry’s unique needs and goals. By fostering open communication and understanding, we developed a personalized financial strategy that addressed both their immediate needs and long-term aspirations.
Key Solutions Implemented
Personalized Retirement Income Strategy: We created a diversified portfolio that balanced growth and income generation. This approach provided a steady stream of income while preserving capital. We also incorporated CPP/OAS optimization enabling Bernice and Terry to maintain their lifestyle throughout retirement.
Health care Planning: Recognizing the importance of health care in retirement, we developed a comprehensive plan to cover potential medical expenses. This included advising on and creating a strategy for managing out-of-pocket costs effectively.
Legacy and Estate Planning: We facilitated discussions on estate planning, helping Bernice and Terry establish a will and living trust to ensure their assets would be distributed according to their wishes. We also advised on charitable giving strategies, allowing them to leave a lasting impact on causes they care about.
The Result
Through our collaborative efforts, Bernice and Terry have achieved peace of mind knowing that their retirement is financially secure. Our expertise in managing their assets and providing comprehensive planning has enabled them to enjoy their retirement years without financial stress. They are confident that their legacy and values will endure, providing for their loved ones and contributing to their community.
*Names have been changed to preserve confidentiality.
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