Case Studies

Real finances. Real solutions.

Longevity Wealth helps clients tackle their most pressing challenges. Read our case studies to see how we have successfully collaborated with individuals to navigate their real life financial situations, and learn how we’ve worked tirelessly to develop real and effective strategies. The end result: Personalized strategies that overcome unique and complex problems. 

To protect the privacy of our clients, we have kept their names confidential.

Scenario 

  • Recently widowed or divorced woman in her late 50s is now single and unsure about most aspects of her financial future
  • Three grown children living across the United States

Financial Facts:

  • Home value = $650,000 
  • Mortgage  = $225,000 
  • IRA = $438,000
  • Other investments = $140,00
  • Car loan = $8,000

Client Goals: 

  • To stay in the family home and spend time with friends/ children and visit grandchildren as much as possible

Longevity Wealth Strategy and Recommendations (not all inclusive):

  • Review debt and cash flow
  • Review and realign assets with goals to allow for cash flow needs related to increased travel and possible educational support
  • Ensure longevity plan is clearly outlined, with funding, then communicated with children
  • Hold regular update meetings to ensure plan is on track and adjustments are made when necessary

Scenario: 

  • Husband and wife are both working
  • Each spouse has middle and high school children from a previous marriages
  • Couple jointly owns land on a small lake that’s used for vacations

Financial Facts:

  • Current home value (in husband’s name) = $515,000
  • Mortgage = $308,000
  • 401(k) accounts = $450,000 combined value
  • Investment account (in wife’s name) = $240,000 
  • Home Equity Line of Credit/Revolving debt (joint) = $33,000

Client Goals

  • To accommodate their blended family by moving into a larger home in the immediate future
  • To understand reasonable retirement date
  • To plan for an option to build a smaller home on the lake property
  • To help children with college
  • To retire in their mid-60s or earlier, if possible

Longevity Wealth Strategy and Recommendations (not all inclusive):

  • Understand income and cash flow needs in order to determine available resources for larger mortgage and possible vacation build
  • Consider multiple retirement options with and without financial assistance for college, then realign 401(k) accounts to match goals
  • Review all employer insurance benefits to ensure no gaps in coverage
  • Give guidance on how to streamline budget and multiple bank accounts
  • Review and recommend update to legal documents
  • Hold regular update meetings to ensure plan is on track and adjustments are made when necessary

Scenario: 

  • Single retiree successfully navigating retirement
  • Currently very worried that there is not long-term care in place

Financial Facts:

  • Home value = $840,000
  • Mortgage = $0
  • IRA account = $650,000
  • Investment account = $475,000
  • Other assets or debt = $0

Client Goals: 

  • To live at home as independently as possible
  • To not rely on two children for help while leaving a legacy for children and two charities

Longevity Wealth Objectives (not all inclusive):

  • Consider current home environment and aging in place strategy
  • Outline backup plan outside of home by visit a variety of retirement communities with varying support systems
  • Outline proper structure of assets for future care needs, including tax implications of each
  • Assist with family communications if/when necessary to ensure all family understands wishes and any questions or concerns are answered
  • Hold regular update meetings to ensure plan is on track and adjustments are made when necessary

Scenario: 

  • High net-worth family 
  • One spouse in their late 50s has to change from high paying job to lower one
  • Very concerned that the significant income loss will affect their plans to retire while healthy and maintaining the same lifestyle
  • Second spouse has not worked outside the home in 25 years 
  • One adult child and three grandchildren

Financial Facts:

  • Home valued = $1.2 million
  • Retirement assets and company stocks = $1.6 million
  • Investment account = $660,000
  • Little to no debt

Client Goals

  • To continue to enjoy working while supporting lifestyle
  • To reduce risk level of old 401(k) account 
  • To provide financial support for elderly parent who lives nearby when necessary 
  • To assess value of future sale of large home in 10 years and replace with a new home with possible second condo near child and his family
  • To understand long-term care options in order to avoid pressuring child for help

Longevity Wealth Strategy and Recommendations (not all inclusive):

  • Create cash flow and needs analysis
  • Outline several retirement scenarios
  • Reassess risk tolerance and then align assets 
  • Consider diversifying concentrated position in past employers’ stock to reduce risk, and determine if tax consequence is suitable
  • Evaluate long-term care options and draft a longevity plan
  • Review current group employer benefits and need for continued medical insurance
  • Begin search for future housing near son’s family while income is high and interest are rates low
  • Hold regular update meetings to ensure plan is on track and adjustments are made when necessary

Scenario: 

  • 63-year-old single individual recently inherited assets from their mother
  • Does not understand how inheritance account is invested
  • Unable to work due to health conditions
  • Has substantial medical insurance expenses and unpaid medical costs
  • Recently purchased a new car (paid in cash) with inheritance money
  • Lives in a condo

Financial Facts:

  • Mortgage = $107,000
  • IRA account = $230,000 
  • IRA distributions and Social Security benefits = $2,000/month

Client Goals: 

  • To understand the financial impact of this gift on their future
  • To understand home options (new home vs. other housing)
  • To enjoy this gift while still providing a legacy for children and/or grandchildren

Longevity Wealth Strategy and Objectives (not all inclusive):

  • Review current cash flow and medical needs, both pre-Medicare and post costs
  • Outline a longevity plan for future short-term and long-term medical needs along with housing options and cost analysis 
  • Determine wealth management strategy for inheritance and encourage updated legal documents to align with wishes
  • Hold regular update meetings to ensure plan is on track and adjustments are made regularly

Your particular circumstance is your own and once we’ve uncovered your unique financial situation, we will work to answer your questions, determine the best solutions for your most pressing issues and develop a comprehensive plan designed to match your distinct needs and goals.