Case Study: Stafford Office

Met Richard, age 63, Stafford office, first appointment April 7. Richard is 63, his wife is 6. They are both retired. Mainly, he just wanted me to look at his plan and see if I had any recommendations. He’ll have, he is getting a pension from ??_____ 2:17, 46,000 a year. His wife is getting a 4000 pension and an $11,000 social security check. In three years he’s going to turn his social security check on for another 31,000. He thinks they can live off those four checks. For now, they are going to make up the $30,000 difference from his PSPG fund, which has 100,000 in it. That money will be gone in three years. Remaining, they have approximately 325,000 in mutual funds with Fidelity, all in equities. He said the goal of that money would be inflation hedge, and long term …show more content…
We talked a little bit about that, and the markets, and what he could expect, and what could and what couldn’t happen in the markets. I did advise him based on the rule of 100, 100% in the equities is completely out of wack, not just with other folks his age, but based on what he wanted to accomplish, he probably doesn’t want 100%. He agreed with that. We talked about the rule of 100, which would put about 63% on the protected side. We talked about maybe using a fixed indexed annuity for growth only for some of the protected side. Then using a managed or a portfolio based on his actual risk portfolio for the risk side. He said at this time he does not want to move his money from Fidelity. There is nothing that we can help him with moving forward, if he’s not willing to move the money over. We are going to put him inactive and take no action. He’ll call back later if he wants to. He also said when he retires, they want to go to Florida and maybe he wants to get into real estate, and possibly buy some real