Case Study 1
Can we retire… in Europe?
Jesse and Dean
Goals
Jesse and Dean didn’t just want help managing a stock portfolio.
They needed to see, in black and white, if their current savings would be enough for them to retire well on. They wanted to avoid making mistakes such as dipping into retirement too early or facing excessive tax burdens.
On a deeper level, they had dreams of traveling and experiencing the world while they were still able. Particularly Jesse, who used to ski and snowboard. They wanted to try living in Europe… But was it financially feasible?
Challenges
“Okay, we have our nest-egg… but is it enough? What does this amount mean for us long-term? What can I start doing today to make sure I don’t have to work until 90… without living in a van down by the river?” – Jesse
Jesse and Dean had reached a point where they needed concrete answers to questions like this. However, with their previous advisory firm, their calls would often go ignored. In their words, they felt “like a piece of meat” as their client.
They wanted to find an advisor who was logical, thorough, relatable and capable of helping them achieve their dream of traveling and retiring abroad.
Approach
Dean and Jesse specifically looked for someone local and fee-only. On recommendation from Dean’s brother, Shannon was the first advisor they interviewed.
They appreciated Shannon’s nonchalant and low-key approach, and that he backed up his views with statistical data rather than opinion.
He demonstrated in plain numbers that they could retire on what they had, and be just fine long term — as long as they avoided dipping into their retirement savings too early, which would have resulted in increased taxes.
Discovering that Alzheimers ran in Dean’s family and that LTC insurance was important to them, Shannon got them in touch with a trustworthy LTC Insurance broker he knew.
As for their dream of retiring to Europe, after thorough analysis Shannon demonstrated that not only could they afford it…
They would actually save money on health insurance by doing so.
Results
Jesse and Dean are now living their dream retirement in Europe.
They know they’ll be able to continue to do so indefinitely, because they have the numbers written plainly in black and white, and backed up by statistical data.
They’re renting out their house back in the US — they’re grateful to their new advisor for his help working out the logistics of that — and they have the insurance they need to be secure.
Any time they want to make a change in their monthly spending, they know that a well-researched, knowledgeable analysis is just a phone call away.
