Meet Grayson

Typical Growing Scenario

Grayson is in his early 50s, married, with two children from a previous marriage (ages 17 and 19). He’s deeply, constantly involved with his successful business, but would like to retire within 10 years. He owns his home and a rental property, has investment accounts managed by his golf buddy, maintains retirement accounts through his father’s broker, and has purchased plenty of insurance. He’s a smart businessman, but never reads his investment statements (no time).

His main concerns are caring for his parents, who are not financially secure and have some health problems, paying for his children’s college expenses, and funding retirement for himself and his wife. We would advise and help Grayson to:

  • Determine how much money he needs to accumulate for retirement
  • Review his current retirement plan to determine if there are better alternatives
  • Evaluate long term care insurance for parents
  • Refocus his investment strategy: consolidate accounts, remove redundant assets (those that serve duplicate financial purposes), rebalance and move highly taxed investments into his retirement plan accounts
  • Gift his highly appreciated stocks to his children so they could sell them to pay for college
  • Consider financial reporting to provide an executive summary that includes the rate of return on his individual accounts and his portfolio in total, the overall asset allocation, and a consolidation of investment holdings
  • Along with his attorney, discuss the possibility of placing the real estate into a limited liability company to protect himself from liability