When Mr. Larson Dies what will happen to Mrs. Larson???

The Larsons, successful small business owners, were already retired when they came to one of our events.

They came because they are always looking to increase their knowledge – they credit their success to their willingness to learn and openness to apply new ideas.

They had not thought about the possibility of unseen obstacles to their plan, and they decided it was something they should investigate a little more.

We p[roceeded through the DREAM Retirement Process and uncovered some BIG problems in their Wealth Engine.

 

Most of their portfolio was in high risk, and the largest portion of it was in a variable annuity that provided guaranteed income.

They guaranteed income part sounded great – until they realized that the income was only guaranteed for Mr. Larson’s lifetime and not for Mrs. Larson’s.

That, coupled with the high-risk investments, might well have been disastrous!

If their accounts did not perform at a high level, the principal would be reduced by the income taken.

This means that the amount to be transferred to Mrs. Larson in the event of her husband’s passing would continue to decrease.

Mrs. Larson was about five years younger than Mr. Larson, and (statistically speaking) women tend to outlive men.

If they remained in their current plan, not too many years down the road Mrs. Larson’s death benefit would be insufficient to fund the retirement lifestyle she enjoyed.

There would be less income from the retirement income plan he’d setup, in addition to less from Social Security.

 

This was not what they expected, and certainly not what they wanted.

It was time to re-design their retirement.

The DREAM Blueprint we created allowed them to get the money out of that variable annuity into another financial product with even better-guaranteed income.

This product would last for them both for the rest of their lives, regardless of whether their spouse was living or not.

The other portion of their portfolio was to put into a more conservative investment that would be managed and monitored.

That portion of their portfolio was there if they needed the money over and above the guaranteed income (like to replace a car or repair the house).

This was what they wanted.

It returned them to the comfort level they’d been at before we sat down to look closely at their wealth engine.

“The DREAM Retirement Process saved me from the poorhouse,” commented Mrs. Larson. “We both worked hard to create a successful business and we both want to live our DREAM Retirement. Without this process, we might have faced disaster without even realizing it was around the corner.”

 

Michelle Bertram and Beverly Bertram are financial advisors living in Mineral Point WI and serving the surrounding communities. Michelle Bertram does financial planning for retirees along with business consulting. Beverly Bertram specializes in retirement planning and income planning for her clients. Michelle Bertram and Beverly Bertram are authors of the book, Creating You DREAM Retirement and creators of the DREAM Retirement Process.
Serving Madison WI, Verona WI, Mount Horeb WI, Barneveld WI, Dodgeville WI, Dubuque IA, Platteville WI, Lancaster WI, Cuba City WI, Fennimore WI, Darlington WI, Monroe WI, Spring Green WI, Black Earth WI and beyond.

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