Successful Transition

Meet Linda¹. She’s a successful project manager for a construction company. She’s 55 and recently divorced. She has two adult children and one has a baby on the way. Linda would like to retire in the next 10 years, and she has no idea if she is on track to do so.

Linda likes to stay active and travel, so she wants to ensure her retirement plan incorporates funds so that she can continue to travel as long as she is able to.

Linda’s ex-husband handled all of their retirement investing and savings outside of her 401K through her employer, so she wanted a financial advisor who can help her make the best decisions on managing her half of the assets from her divorce settlement. She also wanted help determining that she’s on track for retirement and that she’ll be able to help pay for college for her grandkids.

She met with a Foran Group Financial Planner and worked on clarifying her goals for the future. Her advisor helped her create a comprehensive financial plan that addressed all of her concerns. They also worked on income projections and modeling in an effort to ensure that her retirement savings would be sufficient to sustain Linda’s lifestyle. This included significant stress-testing under many different scenarios.

Foran Financial Group helped her with:

• Creating a comprehensive financial plan, so she could have a clearly defined road map for the future
  
• Retirement account options with a previous employer
  
• Investing her assets in a manner that matched her risk tolerance and financial responsibilities
  
• Helping her find a mortgage broker and refinance her mortgage with favorable terms
  
• Helping her family establish college savings accounts for her grandchildren so she can contribute
  
• Estate planning to adjust her will and other documents since she is now single
  
• Regular check-ins to continue working on different aspects of Linda’s financial life.

1 The people and personal stories depicted are fictitious but the scenarios summarize financial situations and challenges that our clients face. The investment profiles are hypothetical and are presented only as examples and are not intended as investment advice. Please consult with your financial advisor if you have any questions about these examples and how they relate to your own financial situation.