Case Study: Working Towards Early Retirement Goals

Introduction

Tim and his wife were determined to achieve early retirement but faced complex financial challenges with future planning for his wife’s psychology practice. Recognizing the need for professional guidance, they turned to Truly Aligned. With a strong reputation for supporting professionals through a comprehensive financial planning process, the company was well-equipped to address the Tim and his wife’s needs. 

Challenges and Goals

Navigating the complexities of financial planning can be a daunting task, especially when preparing for early retirement while managing the intricacies of owning a business. For Tim and his wife, the challenges were compounded by the need to address the tax implications for hiring new employees and transitioning a psychology practice from a one-man shop to a corporation. 

Decision-Making Process

Tim and his wife chose Truly Aligned based on a positive impression from their initial meeting with Max Clifford, Co-Founder of Truly Aligned, and recommendations from other psychologists who had a private practice of their own and worked with Truly Aligned for financial planning. The company’s holistic approach to finances, anchored in their dynamic Financial Alignment Experience process, also played a significant role in their decision as it lowered the couple’s overall stress levels around retirement planning. 

Implementation and Onboarding

The onboarding process with Truly Aligned was smooth and effective. The initial Financial Alignment Experience helped bring confidence around financial planning by making sure there were no blind spots and aligning goals to meet the couple’s vision of the future. With the Truly Aligned process, the couple received a comprehensive plan that helped reframe their thinking about finances and instilled confidence in their pending retirement. 

Service Experience

Truly Aligned has been instrumental in helping Tim and his wife crystallize their retirement plan. What was once a giant unknown stress point has turned into a source of hope, and the comfort and confidence they attained has been invaluable. Of particular note is the excellent level of communication and support from the Truly Aligned team throughout the engagement, no matter the topic or level of support required. 

Results and Achievements

The most significant benefit Tim and his wife have gained from working with Truly Aligned is a profound sense of comfort and confidence. They are now much closer to executing on their retirement, with a solid plan in place to achieve it. In addition, they made changes to the plan based on the data outputs, including a reduction in their cost of living to address early retirement goals. 

 

“The Financial Alignment Experience and onboarding process were key to understanding our current standing, future goals, and an overall plan to achieve them,” said Tim. “For potential clients considering Truly Aligned, we emphasize the clarity that comes from working with the company throughout the entire planning process. We are now much more confident that we’re executing on a plan that will help us reach early retirement while setting my wife’s business structure up for success.” 

 

Conclusion

The Truly Aligned team provided extensive assistance to Tim and his wife, making strategic changes to existing investments, planning for business tax implications, and ultimately bringing clarity, comfort and confidence to their financial future. As Tim and his wife look towards the next few years, they are grateful to have Truly Aligned as a partner to continue helping them navigate major transition points as they prepare for retirement and move to reduce their cost of living.

Disclosures:

This is a hypothetical example and is not representative of any specific investment. Your results may vary. (88-LPL)

This is a hypothetical situation based on real life examples. Names and circumstances have been changed. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments or strategies may be appropriate for you, consult your advisor prior to investing. (150-LPL)

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