Can I Retire… Please?

THE CLIENT’s SITUATION

Case Study Can I Retire Please.jpg

Lindsay, age 62, had been working as a medical practice manager for decades.  While she earned a comfortable living, she also found that she was becoming increasingly burned out navigating constantly changing insurance contracts and healthcare laws.  Almost daily, she began to dream of retirement – counting the days until the weekends, and the hours until the end of the work day.

However, after all these years of saving, she had no idea if she was ready to retire.  What would she do about health insurance? Did she have enough to live on – for the rest of her life – without working?

PARAGON’s SOLUTION

After a discovery meeting with experienced financial advisors at PARAGON, it was mutually determined that Lindsay and PARAGON were a great fit.  Our staff performed a thorough analysis of Lindsay’s assets, income streams, former retirement plans, Social Security, and anticipated medical costs in retirement, using state-of-the-art retirement planning software and scenario stress-testing to help her decide if her job had become… OPTIONAL!

Lindsay had done a good job of savings – and even though initially paying out of pocket for health care before Medicare started at age 65 was going to be expensive, a long-term analysis of her cash flow determined that once her investments were optimized, she had more than enough to generate the retirement income she desired for the rest of her life.  

While the first few years would require some heavy portfolio withdrawals, our analysis revealed that once her Social Security income and the mandated Required Minimum Distributions from her retirement accounts began, she would have more than enough income to live comfortably throughout retirement.  

VALUE TO THE CLIENT

Lindsay confidently informed her bosses that it was time for her to retire, and within 6 months, she had transitioned to a new, exciting and rewarding phase of her life!

Jonathan Darabos