Jon & Pam 

In Retirement

Age:

62 & 59

Primary Goal:

Get Pam more involved in finances. Become more involved financially in their church. Confidential use social security and make sure their money will last through retirement.

Background

Pam and Jon have one child and are very involved in their local church. Jon retired a year ago, He is very concerned about making his money last, hasn't taken social security yet and wants to make sure he does that right. Additionally he wants to reduce his tax bill as much as possible. Pam has been fairly involved in the family's finances for the last 30 years.

The Challenge

They need to feel more comfortable about their money lasting their lifetime. 

Need to decide the best strategy for claiming social security for Jon and Pam. 

Pam needs to become more involved in family financial matters.

They want to effectively give money to the church.

The Approach

Jon and pam, go through a financial process that is enjoyable and easy and includes plan where she can become more comfortable with the family's financial planning situation. We optimized withdrawals out of retirement accounts to lower their taxes and developed a Social Security plan to maximize the benefits over their lifetimes. Also developed a plan to give to their church over both the short term and longer term legacy.

The Results

Pam becomes more knowledgeable about the family position. They feel more comfortable and confident about their income and its sustainability. Taxes are drastically lowered and social security benefits will provide over a million dollars in benefits. Pam and Jon are now able to live better knowing Straight Path Wealth helped them plan the best. 

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