Situation: A prospect was approaching retirement but did not know if he had saved enough to retire.
Opportunity: Burt Wealth Advisors can help guide clients through a simple and pain-free process for determining what they can expect in retirement. This approach combines the goals and wishes of the client with reasonable, conservative financial assumptions. By generating a number of potential retirement scenarios we can help provide valuable insight into whether the individual is on the right path for retiring with financial success.
Solution: Burt Wealth Advisors gathered the client’s financial information and held face-to-face meetings with the client to discuss expectations. This collective information was analyzed internally to generate various anticipated retirement scenarios. This scenario approach allowed the client to see real-life simulations of his retirement options and provided specific and actionable feedback on specific questions from the client, including:
- When can I retire?
- What happens if I work a few more years?
- At what age should I start social security?
- How much can I afford to spend in retirement?
- What can I expect to have left over when I die for children/charities?
- Do I need life or long-term care insurance?
- What happens If the financial markets experience another significant decline?
- How does inflation affect me during retirement?
