David and Linda

Who They Are

Linda age 50 is a surgeon at Upstate Medical earning $400k/year.
Linda contributes to her 403(b) but also has access to a 457(b) plan.
David works part-time at a 501(c)(3) organization in Syracuse earning $40k/year
David has access to his company’s Simple IRA plan but does not participate.
Linda’s student loans are paid off.
David and Linda want to retire early but are on a compressed time frame to save.
David has questions about his insurance needs.
Linda has been approached by other surgeons about joining their independent practice.

How we Helped

Our clients come in all shapes and sizes with varying income levels, unique challenges, and different goals. We offer customized planning for each client based on individual circumstances.

Life and disability insurance

With income discrepancy within the household, we spent a lot of time discussing life insurance needs for both in case of an untimely death. We also looked into long term disability coverage for Linda.

Defined benefit and other retirement plans

Helped implement a retirement plan that best fit their goal of maximum tax deferral. This included maximizing 401k options and looking into establishing a defined benefit plan for Linda’s surgery practice.

Estate planning

Discussed what their legacy goals are (i.e., how they want to transfer their wealth to the next generation) and implemented strategies on how to transfer wealth tax efficiently.

Retirement planning

Modeled how much they need to save, how long they need to work, and what adjustments they should make in their plan in order to replace their current lifestyle in retirement.