This is a continuation of our “How We Work” series. To read our first client case study, click here.
Who was the client? Bill and Mary were a married couple with two adult children who had been managing their finances independently for years. As they approached retirement, they realized they needed more specialized guidance to navigate the transition successfully. They valued an advisor who would provide direct, experienced counsel rather than handing them off to a junior planner.
What did they need? After decades of self-directed investing, Bill and Mary were unsure of the best way to structure their investments and retirement withdrawals. They had also been holding a large amount of cash due to market anxiety, but weren’t sure where to allocate those funds. Additionally, they needed support in establishing a comprehensive estate plan and reviewing their insurance coverage to ensure adequate protection.
How we helped: At Daybreak Wealth, we started by consolidating Bill and Mary’s assets and creating an investment plan tailored to their risk tolerance and retirement goals. This allowed us to optimize their portfolio and ensure their money was working as hard as possible for them.
We also reviewed their tax situation and identified opportunities to reduce their burden, such as strategizing their 401(k) contributions and estimated tax payments. To further solidify their financial footing, we introduced them to an estate planning attorney who helped them establish a comprehensive plan.
Throughout this process, we served as their trusted advisor, providing objective guidance and accountability rather than just executing their orders. We took the time to understand their concerns and walked them through the reasoning behind our recommendations.
Where they are now: Bill and Mary now feel a profound sense of freedom and confidence in their ability to retire on their own terms. They understand that retirement is a choice, not an obligation, which has reduced the pressure they once felt. Instead of constant hand-holding, they are comfortable reaching out to us periodically for adjustments as their needs evolve.
As they prepare for future decisions around pensions, Social Security, and other retirement income sources, they know they have a dedicated team at Daybreak Wealth in their corner, helping them navigate these complex waters. Overall, they have achieved the peace of mind they were seeking when they first engaged our services.
