Joanne is divorced, 62 and has been an elementary-school teacher for almost 40 years. Once this school year is over, she plans to retire. She scheduled time to meet with an advisor from Achieva Wealth Advisors to discuss how to make retirement a reality.


Her asset advisor began by asking her about all her potential forms of income. They include a pension, Social Security, some investments she made early in her career and her life’s savings. He also learned about her budget requirements to find out what her expenses and financial needs were, along with her aspirations for retirement. In Joanne’s case, she owns her own home and has no debt, so she just needs her income to pay for living expenses and property taxes. She is hoping to have enough extra to visit her grandchildren in New York several times a year.

With that information, her advisor ran an income analysis, looking at the strengths and weaknesses of her income situation and seeing how it can meet her budgetary requirements. This analysis also looked at the amount of funds she needed for short-term, intermediate-term and long-term over the course of her retirement.

He helped her look into subjectives – things that she wasn’t able to think of that she doesn’t need now, but may down the road. He also helped her budget for potential unexpected expenses like medical care. Because Joanne is single, the advisor discussed planning for long-term care, in case something happens and she isn’t able to take care of herself.

Based on this examination, the advisor feels confident Joanne should be able to retire at the end of the school year. He set up a plan to help make sure her investments continue to work for her. He will monitor her assets over time, making any changes based on changes to Joanne’s needs and the market. Now Joanne can just count down the days until the end of May.


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