Case Studies: Retirees
Case Study 1
This client family was concerned with protecting their estate from market downturns and inflation. After consulting with us, they realized that taxation would be an even bigger factor, and together we structured their estate to minimize erosion.
This family told us that our advice was different from other advisors they had spoken with. While other advisors had recommended that they keep growing their savings and defer gifting to their estate, we encouraged them to consider giving some away while they were alive, so they could see the blessing and benefit it brings. Plus, their children or favourite charity could use the help now.
The clients realized that they risked dying with too much. The following Christmas they gave a sum to each of their adult children. They told us afterwards, “You should have seen the look on their faces when we gave them the money. It was worth everything to us to have that experience with our family while we are alive.”
We tell our clients the truth about money: you do not want to die with too much. Money is a tool to provide for yourself, others, and your favourite charities.
Case Study 2
For many years, we worked with this client family to prepare them for their transition into retirement. At each review we conducted, they asked the same question—whether they had enough to retire. At each review, we would assure them they had enough. But, enough for what? We also asked them, “What are you retiring to?” It’s not just retiring from something—it’s about retiring to something.
At each meeting, the clients were looking for permission to retire. For several years, the clients still had more to accomplish at work before they chose to retire on their terms. But when that day came, they knew they were ready and had the confidence to transition well.
The work to determine the cash flow projections, and when to start taking CPP, OAS or drawing on savings was all done. Now it was about getting their best life with the money they had.
We explored their Return on Life Index and future transitions using our Financial Lifelines Tool. Through these discussions, the clients were able to determine the right community in which to retire in a warmer climate, and the bucket list of accomplishments they wanted to achieve, all with the confidence that they had enough cash flow for the rest of their lives.