A professional couple concerned they would run out of money in retirement.


A recently retired professional couple in their early sixties. Wife did not work outside the home. He saved aggressively throughout his working years and built substantial retirement assets within his company 401(k) plan.

He engaged a brokerage firm upon retirement and was promised returns of at least 7% annually with expectations of 10% - 12% annually in most years. He assumed that meant he could comfortably withdraw 7% out of his retirement savings. He was never offered an analysis of his income needs. No personal risk tolerance evaluation, lifetime income plan, withdrawal advice or analysis of his personal financial needs was ever discussed or developed.

He never received the promised returns. Their retirement funds immediately began to decline and no advice was given when he expressed concern over losses and over the rapid decline of his retirement accounts.

He came to R Scott Maxwell Financial asking for an analysis of his current investments with the hope of understanding why he was losing money and what he should do to protect his wealth and provide lifetime income for him and his wife.

We worked together to evaluate and define the lifestyle and priorities he wanted for him and his wife throughout their lives together. We researched his lifetime income needs, his personal comfort level and his return objectives. We then analyzed the existing investment risk, return assumptions, costs and investment philosophy of his current investments.

We discovered his portfolio was too risky for his personal comfort level, was more expensive than he realized and had a high probability of failing to provide the lifetime income he wanted, expected and was promised.

We built a new financial plan together. We developed an investment portfolio and crafted a protected lifetime income plan designed to offer peace of mind, grow over time and provide for the lifetime income he and his wife will need for the rest of their lives.

They now feel enlightened by the analysis we did, encouraged by the plan we built together and peaceful because they now know what to expect and are on a path to achieve their lifelong goals.