Ready for Retirement – Case Study

Lisa was done with her career. She liked working but she decided if she found something interesting, she would work because she wanted to, but not because she had to. We looked at selling her main home which was a large property and would give her ample proceeds to pay off the mortgages and create a significant income stream without disturbing her existing retirement plan. She opted to downsize into her rental, which gave her the freedom she craved without sacrificing her lifestyle.

Lisa was ready to retire. She wanted to feel secure in her finances so if she decided to work in the future, it would only be for a job that appealed to her, not because she had to.

Lisa could depend on a modest retirement plan from her long career. However, she wanted to travel, see grandbabies, and have more financial freedom than what this plan could potentially provide.

Lisa needed to fine tune her financial plan to determine what other source of income or assets she could utilize to meet her goal of a relaxing, traveling and creating a fulfilling retirement.

We reviewed Lisa’s income, assets, and expenses. Lisa owned several properties: a large, main home on acreage and a smaller rental home. After looking at all the options, we determine the biggest benefit would be to sell the larger home, pay off all debt and move into the smaller rental.