The Peterson’s – Why having a plan is important!!!

The Petersons were a hardworking couple who started with technical training right out of high school and worked their entire careers each in a single trade: John was an electrician and Jean just retired after being recognized for 35 years as a court reporter in the same county court system.

John wanted to retire soon as well.

They had accumulated a healthy portfolio over the years and they went to their representative, asking to be sure if they had enough to retire.

Jean wanted to do her gardening club and book clubs, and they had a summer home in Minnesota near the grandkids where John liked to craft wood furniture.

They didn’t have big travel plans and their goals were modest and comfortable.

 

However, their advisor did not answer their query satisfactorily.

He just told them “Yeah, yeah, you’ll be fine.”

Even at their repeated requests for concrete numbers, he would just say “You’ll be fine, don’t worry about it.”

 

The Petersons were pretty turned off by their advisor by the time they came to us, and they still weren’t sure if John should go ahead and retire.

We started, as always, by having them paint their DREAM Retirement picture; we found out what their goals were, what their ideal retirement income would be and their feelings on risk, taxes, and legacy.

 

After we had a clear picture of what their DREAM Retirement would look like, we gathered information about their current situation.

Then we started creating their DREAM Blueprint. It turned out that they would easily be able to generate the amount they wanted for income in retirement. However, they did still have a few obstacles in their way. First, they had way more risk than they were comfortable with, and second, they had no idea how to create

It turned out that they would easily be able to generate the amount they wanted for income in retirement. However, they did still have a few obstacles in their way. First, they had way more risk than they were comfortable with, and second, they had no idea how to create

However, they did still have a few obstacles in their way. First, they had way more risk than they were comfortable with, and second, they had no idea how to create

First, they had way more risk than they were comfortable with, and second, they had no idea how to create a retirement income that would last.

 

As part of their DREAM Blueprint, we moved some of their assets around, reducing the high amount of risk they had and securing some protected income.

Because John wasn’t old enough to claim Social Security yet, we had to find alternate income sources for a few years.

We were able to show them step by step where their income would come from over the next 30 years.

They could finally see that their assets would indeed allow them to retire and do the things they wanted.

 

“This is exactly what we wanted,” Jean repeated more than once as we worked through the DREAM Retirement Process with them. It was the numbers on the report that they could keep looking back at that helped them feel so much better about retirement. “This is exactly what we wanted. Someone just sitting down, showing us where to take it from, and that we are going to be okay. We have a plan.”

 

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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