Retirement For a Planner, When the Plan Changes

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September 3, 2020

The Story
We met Steve when he was in his late 50’s. He had worked as an engineer for all of his life, and he was starting to think about the next chapter. With an excellent pension and an IRA, he knew he was set for a secure retirement – five to seven years in the future. But Steve was ready to
make that future his reality much sooner. We became his partner in figuring out how to help Steve retire on his terms.

The Right Questions
At our first meeting, Steve had set a two-year goal to retire completely. He had done his research, and had learned of a way to begin withdrawing from his IRA account early without penalty. Initially, he sought our expertise to affirm his plan and give a second opinion. His questions initially revolved around this – is this right? Do these numbers actually work?

The Plan
The numbers did add up. We set up his two-year plan to retire fully, without an early withdrawal penalty. But, life happened. As the idea began to feel more like reality, he moved his date of retirement sooner. He received an inheritance. Each time, we adjusted the plan. One day, we got a call. Steve had received an offer from his current job for immediate retirement. He
accepted. So, we reconfigured.

Steve is now retired. He spends his time kayaking, traveling, and doing other activities that bring him joy. And because of the plan, Steve has found more freedom to indulge in things he would never have before – like the occasional pricey bottle of wine at dinner. But most importantly, this
is not the end of the chapter for Steve. As his life situation changes, we will continue to adapt his retirement plan accordingly. Because retirement, even in full and immediately, is as colorful and ever-changing as life before.

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