Building Confidence with Retirement Analysis
Client Background
A client nearing retirement sought our guidance, as they were worried that they lacked sufficient savings to retire comfortably.
Challenge
The client’s primary concern was whether their savings, combined with their expected income and expenses, would support their desired lifestyle in retirement. Their uncertainty stemmed from a lack of clear projections and fear of market volatility.
Solution
We conducted a comprehensive retirement analysis, collecting data on their assets, liabilities, income, expenses, and insurance. Using a Monte Carlo simulation, we modeled 1,000 scenarios accounting for various market conditions, inflation rates, and life events. This analysis identified the savings rate, retirement age, and income level needed to achieve a high probability of success. We developed a tailored plan to increase savings and adjust their investment strategy for balanced growth.
Results
The analysis provided the client with a clear, actionable plan, boosting their confidence. By implementing the recommended savings and investment strategies, they increased their probability of a successful retirement. Ongoing monitoring ensured their plan remained on track, allowing for adaptation to changing circumstances.
Are you uncertain about your retirement readiness? Contact Michael Brady for a personalized consultation to discuss how your wealth can align with purpose and possibility.