Harry and Sally previously had what could only be described as an octopus of investment accounts. They had so many accounts in so many different places that they weren’t even sure what they had. What they wanted was a cohesive Investment Strategy.
In the year 2000, Harry met Sally in a contentious cab ride where they discussed whether or not married couples should be open and sharing with individual financial information. Ten years later, they reconnected on E-Harmony.com and sparks flew. Harry and Sally, now married and in their 50's, decided to clean up their investment situation. Harry had $325,000 spread across five accounts at three custodians (BOA, Fidelity, TD Ameritrade, etc). Sally had $175,000 spread across three accounts at two custodians. They had IRA's, 401(k)'s, taxable accounts, and a CD. Harry and Sally came to Steady Returns to get their financial lives organized.
They wanted an Investment Strategy that made sense across all their accounts. They needed an Organized Retirement Plan and a simpler financial life. We analyzed their situation, discussed their needs, and came up with a plan for them to follow.
We helped the consolidate their accounts, reducing the numder from 8 to 3. We also decreased the number of Custodians from 5 to 1. After joining the Steady Returns family, they now had an Organized Retirement Plan with online access, an Investment Strategy with fewer ups and downs, and lower overall costs with one easy-to-understand fee.
Susan is a successful healthcare executive. She’s changing firms and would like more control over her investment choices.
Susan loved her job as human resources director. Then one day she received an offer she couldn't refuse, i.e. working for a smaller company where she could bring her favorite companion, Marley, to work. She knew she could roll her current 401(k) to her new employer, but she wanted to explore other rollover options where she had more investing choices.
Susan felt upset watching her 401(k) plan go up and down with the whims of the market. She didn’t want yet another take it or leave it menu of investment options. Instead, she wanted an Investment Strategy that would diversify her investments and reduce her anxiety. We worked with Susan to analyze her situation, and together we came up with a plan to meet her needs. She then rolled over her 401(k) from her previous firm to an IRA at Steady Returns. That IRA is now invested in an array of conservative to moderate investment choices that simply aren’t available in either of the 401(k) plans. She feels that this flexibility is a strong complement to her overall investment strategy. She still invests through her firm’s 401(k) plan (to take advantage of the tax deduction and company match), yet she now has a widely-diversified IRA to smooth the ups and downs that her new 401(k) experiences.
In the end, we helped Susan develop an Investment Strategy with smaller ups and downs, rolled over her old 401(k) into a new IRA, began contributing to the 401(k) plan at her new employer, called her advisor to discuss big decisions as they arise, and was able to feel at home by spending more time with Marley every day.
After Bill had owned his business for 25 years, he decided it was time to hand over the reins to someone else. He had two main concerns: (1) maximizing the value of his firm and (2) understanding how his monthly cash flow would change.
Bill overcame many obstacles to get where he was. Many people had told him he was crazy to go into the insurance agency business in the first place. At the time it was more respectable to be an attorney or a doctor. Bill came to us to explore his options on how to exit his business.
What Bill really wanted was to take some chips off the table. Not only had he struggled to make his business successful, but he’d also recently watched two of his close friends undergo major medical procedures. He decided it was time to start doing the things he’d always dreamed of doing if only he had the time. We showed him how to value his business. We explained his options (internal perpetuation, third-party sale, etc.) in detail. Then we compared what-if scenarios to show him how his monthly cash flow would change. In the end, Bill decided to sell to a larger company. And the first item he scratched off his bucket list was to buy the car he drove when he took his wife on their first date.
Steady Returns helped Bill sell his business to a public company for top dollar and organize his overall financial situation.