Addressing a Financial Mistake And Creating a Happy Retirement
Their Problem: My clients, a husband and wife, had worked and lived in the Outer Banks for many years. In 2008 the husband postponed retirement because of financial mistakes at what he had thought was the bottom of the housing/land market.
At that time, he and his wife purchased land and properties, overpaying for them because the market continued to go down after their purchases.
Their Action taken: Shortly after the financial crisis of 2008, they scheduled an appointment with me at Gentry Financial Services. Together, we began to develop a financial plan.
I enjoy preparing financial plans for clients because the financial planning process is much more than crunching numbers.
- It digs deep into a husband and wife’s sharing of their life goals.
- Also, it asks and answers how they each believe they will achieve these goals.
Their financial plan recommended that he work another year to pay down debt so that they would be able to live off their retirement income after the debt was resolved.
They were able to sell some properties for a small loss. They created a budget and made some lifestyle changes that allowed them to reduce their debt in less time.
This was the first direct discussion that they had shared with a financial planner about their financial future. Their plan, if followed, would fund a comfortable standard of living.
Their Transformation: We stayed in touch throughout the years. He thanked me for the financial plan and goal setting. The plan achieved their desires, and they are living a happy retirement on the Outer Banks.
Here’s your chance to gain more information and answers to questions you may have.
To set up a meeting or to discuss any aspect of your finances simply call 252-449-8165 or send an email to bobbygentry@gentry.financial
