“I’m 62 years old, and my wife is 57. We both work full time. We have 401(k)s, three investment properties, our residential home, and enough cash to pay off our mortgage. We want to retire in five years. We’ve never worked with a financial advisor but are feeling a bit overwhelmed. We’re hoping to understand how you would approach the matter with us.”
A prospective client recently found me through the National Association of Personal Financial Advisors’ Find An Advisor Link. They scheduled an appointment through my website and included the comments above in the appointment form. Their thoughtful reasoning for scheduling the meeting provided a great framework for us to get acquainted, and I felt my answers might help inform others that are considering hiring someone like me what that may entail.
If the scenario sounds like you or someone you know, you’re probably not unique. These folks saved diligently. They invested in markets and real estate. They have options. But with those options can come uncertainty, and that’s precisely where a thoughtful, unbiased plan can help.
Let’s walk through what it means to go from having assets to having a plan.
You Don’t Just Need an Adviser — You Need a Fiduciary Partner
At this stage, the risks are too significant to entrust to mere guesswork or product sales pitches. You should work with a fee-only, fiduciary Certified Financial Planner™ (CFP®)—someone who is paid only by you, acts in your best interest, and has the training, experience, and tools to see the full picture.
This isn’t about selling you investments. It’s about coordinating your finances into a system that supports your life.
What a Retirement-Focused Plan Looks Like
If you were sitting in my office (or on a Zoom call), here’s how we’d approach it:
1. Clarify the Vision
What do your next five years look like? What about the twenty after that? Do you want to travel, downsize, give to family or charity, or start a second act? Every great plan starts with the life it’s meant to support. Have you factored in healthcare costs? How often do you buy new vehicles? Do you have elderly parents that you may need to provide assistance to? Are you still supporting any of your kids? The vision may not be clear when we start the process, but it most certainly will be once we've gone through a thoughtful survey of these questions (and many more) to identify goals and priorities.
2. Understand the Landscape
We’d map out your financial picture: 401(k)s, other investment assets, real estate, cash flow, debts, and future income sources like Social Security. We’d stress-test your portfolio against different retirement timelines, inflation scenarios, and market conditions.
3. Optimize, Don’t Overreact
Would it be advisable to pay off the mortgage at this time? Should you keep the investment properties or sell one? Are there tax-saving moves you could make now while still working? This is where planning becomes powerful — small decisions now can have big ripple effects later.
4. Shift from Accumulation to Distribution
Most people have learned how to save money. But once you stop working, the real question becomes: how do I use my money efficiently?
We'll build a tax-smart drawdown strategy. Maybe that includes Roth conversions. Maybe it’s sequencing withdrawals from IRAs and taxable accounts. The goal is to stretch every dollar and reduce surprises.
5. Stay in Control, Even After You Retire
Retirement is not a one-time event. It’s a decades-long phase of life that still requires adjustments and proactive planning. We’ll continue to meet, refine the plan, and ensure your money keeps working for you.
The Bottom Line
If you’re in your 50s or early 60s and you’ve accumulated assets but never had a comprehensive plan, now is the time. It is not necessary for you to possess all the answers. You just need a guide who can help you make smart, informed decisions — so you can retire with confidence and live on purpose.
If this resonates, let’s chat. I work with families in exactly this season of life — helping them bring order, clarity, and confidence to the decades ahead.