Dr. Steven has been practicing dentistry for 30 years. He would like to position himself to retire within the next few years, if possible. He isn’t certain that he will want to retire that soon, but he at least would like to know if he is on track to walk away from dentistry and maintain his current lifestyle if he had a need or desire to do so within the next few years. He has saved diligently over his career, especially after his kids graduated from college, but isn’t confident that he has saved enough and needs assistance in analyzing all the factors that go into retirement planning.

Before CBG

  • Contributing to a retirement plan, but not with the most efficient result for his practice
  • Accumulated retirement assets, but was taking excessive risks with investments given how close he was to retirement
  • Rarely looked at insurance coverages and had the same policies in place for many years which resulted in being over-insured in several areas
  • Comfortable with CPA relationship, but not taking advantage of basic dental opportunities

After CBG

  • Efficient retirement plan design that minimizes cost and maximizes benefit to Dr. Steven, which results in more retirement savings and less tax
  • Investment allocation reflects the relatively few years until retirement.  Investments are positioned for low risk and future income to fund his lifestyle in retirement
  • Life insurance was reduced by 50% now that children are on their own and he has less debt.  Disability income insurance will be evaluated annually and may be reduced in the near future
  • Maintained his relationship with long time CPA, but is now taking advantage of deduction opportunities that a non-dental CPA is not typically aware of

 


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