Tom & Mary: Protecting Family, Maximizing Retirement
At 45 Tom and Mary each had successful careers. Tom was a partner in a big investment bank and Mary owned a small tech company. They had two pre-teen children. They were financially secure, with a net worth of $11.1 million and a combined annual gross income of $2.5 million. Both wanted to retire at age 60 without making significant changes to their lifestyle. They were worried about whether their nest egg would last 35 years, given inflation and other wealth-eroding factors. They also wanted to provide financial freedom for their children at their death. One of Tom’s senior partners recommended that they speak with Scott.
Financial Overview
Tom and Mary’s assets were allocated between qualified 401(k) plans ($1.1M), stocks ($2M), muni bonds ($2M), stock in Tom’s company ($3M) and personal real estate ($3M). They had about $50K in monthly living expenses and paid about 40% of their income in taxes. Their $900,000 in annual investments were divided between college funds, muni bonds, stocks and stock in Tom’s company.
The 3D Wealth™ Difference
By implementing a comprehensive 3D Wealth™ plan, Tom and Mary were able to secure their retirement income without making changes to their lifestyle now or in the future. They were also able to generate a greater legacy for their children, protected from creditors (including tax authorities and disgruntled former spouses). 3D Wealth™ results included:
- Financial freedom to retire early
- Enhanced legacy for their children
- Estate tax efficiencies
- Enhanced creditor protection
