Reaching Their Summit While Leaving a Legacy

Reaching Their Summit While Leaving a Legacy

Bill and Jody are in their mid-50's with four kids (two in high school, one in college and their oldest employed full time) and ready to slow down, as much as possible with three kids still living under their roof.

Bill and Jody own a successful executive recruitment firm and in the past year have been approached to sell the firm to the employees via an employee stock option program. While they are thrilled to leave the firm in trusted hands and see their company thrive after their departure, due to the success of their business (and for the first time ever) Bill and Jody face something they’ve never encountered before—living on a budget.

Previously, the success of their business provided them ample discretionary income to cover all of their living expenses—allowing them to purchase a mountain home, season tickets to their Alma maters football and basketball games, along with several trips a year via their time share. However, now they have concerns as to how much they can truly afford to spend on a monthly basis, since they can no longer rely on the continuing income from their business.

The most pressing issue, however, is what to do with the sizable lump sum payment from the sale of their business, along with quarterly payments over the next several years. In addition, they have no idea what to do with their 401(k)’s and are potentially interested in a 529 college savings plan—but up until this point—haven’t given either much thought.

Bill and Jody sought out Integrity Advisory for comprehensive investment analysis and development of strategies and options that would ensure their current retirement funds coupled with capital from the sale of their business could carry them through retirement and beyond. They still wished to fund their current lifestyle, but also provide for their boys’ college education while leaving a legacy to them as well.


Back to top