Case Study: How Jeff and Lisa Built a Clear Path to Retirement in Minnesota
- Michael Urch
- 42 minutes ago
- 5 min read
The Challenge
Jeff and Lisa* were both working professionals in their mid-60s.
They had spent years saving for retirement, and they believed they had done a good job. But they weren’t 100% confident. Their big question was a common one:
“Can we actually afford to retire?”
As a CERTIFIED FINANCIAL PLANNER,™ Michael advises his clients on insurance planning, investment planning, retirement income planning, tax planning, and estate planning. Michael is an experienced advisor who puts planning before products, focusing on partnership and clarity in every conversation.
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Jeff and Lisa had been working with another advisor who managed their investments before they started working with 360 Financial.
They weren’t self-managing, and yet they had never received a complete retirement income plan.
No one had run detailed projections. No one had mapped out how their paychecks would be replaced. And no one had shown them how the timing of key decisions could affect their future.
This meant that they were unsure about several important areas.
These were some of their key questions:
Should we take Social Security early or wait?
If one of us retires before full retirement age, how will the income be replaced?
Can I retire now, or should I wait one more year?
Should I take a lump-sum pension or receive lifetime payments?
Lisa had a pension and needed to decide whether to take a lump sum payout or a lifetime monthly income. Both options came with long-term consequences.
In addition, Jeff and Lisa were part of a blended family.
It was not the first marriage for either of them. They wanted to ensure they were supporting one another while also being thoughtful about inheritance for their adult children.
Perhaps most importantly, they had never looked at their entire financial life together in one place. They were uncertain about retirement and didn’t know how all the pieces fit together.
That’s when they came to 360 Financial for guidance.
The Solution: A Comprehensive Retirement Income Plan
360 Financial has a proprietary LifeWealth Process designed to identify each client's challenges and goals and to create a customized financial plan and investment portfolio.
The process of working with Lisa and Jeff began by gathering a complete picture of their financial life. Their net worth, spending needs, cash flow, pension details, and retirement accounts were reviewed and organized. With that information in place, detailed retirement scenarios were created.
The first question to answer was simple: could they retire now?
The analysis showed that they could. The numbers supported retirement.
However, the real value of the planning process was not just answering “yes” or “no.” It was helping them understand the trade-offs involved in their decisions. Retirement is rarely a single choice. It is a series of coordinated decisions that affect income, taxes, and long-term flexibility.
In their case, one spouse chose to claim Social Security early, while the other decided to delay benefits, potentially until age 70.
Lisa decided to take the lump sum option from her pension after a customized analysis of how it fit into their overall plan.
Their investment portfolio was structured to generate monthly income. Instead of receiving paychecks every two weeks, they now receive a deposit into their bank account once a month. Taxes are managed from retirement distributions, just as with a traditional paycheck, making the transition feel familiar and predictable.
Retirement planning didn’t end with the initial analysis. In fact, the plan is reviewed every six months.
Part of 360 Financial’s LifeWealth Process is the ongoing planning we provide to our clients. A plan isn’t something you set and forget.
As your life shifts or the markets change, your financial plan may need to evolve.
Why This Worked: Clarity and Ongoing Guidance
What made this approach effective was not a single recommendation. It was the clarity that came from seeing the full picture.
Jeff and Lisa moved from general assumptions to specific numbers.
They saw how long their portfolio could sustain them across different scenarios. They understood where income would come from each month. They knew the impact of taking Social Security early versus delaying. They evaluated the pension decision in the context of their total financial plan.
But most importantly, they had a guide who helped them through the process.
The LifeWealth Process addresses emotional concerns just as much as it addresses real financial challenges.
As part of a blended family, Lisa and Jeff sought confidence that both spouses would be preserved and that their adult children had been considered. These planning conversations brought structure to topics that are often avoided.
Instead of guessing or hoping for the best, they had a roadmap.
The Outcome: Confidence and a Smooth Transition
Lisa retired two months ago and is enjoying the transition.
Jeff plans to retire at the end of the year and is looking forward to it. The biggest change they expressed was a sense of relief.
Before the planning process, they didn’t know what retirement would look like. Now they understand exactly how income flows into their bank account each month and what steps support that system behind the scenes.
They know where the new “paycheck” comes from. They understand how taxes are managed. Their plan is continuously monitored and adjusted in partnership with their advisor. If they have questions, guidance is always available.
For Jeff and Lisa, retirement is no longer a question mark.
It’s the next step in their life, and one they’re excited to be taking.
Summary of Key Points
Lisa and Jeff needed a full retirement income plan, not just investment management.
Clear projections showed they could pursue retirement with confidence within the year.
Social Security and pension decisions were evaluated together for the best outcome.
Monthly income was structured to feel like a reliable paycheck.
Ongoing six-month reviews keep Lisa and Jeff’s retirement plan current and flexible.
*This case study is based on a real client experience. Client names and certain identifying details have been changed to protect privacy. Each financial situation is unique, and the strategies described may not be appropriate for every individual. Readers should consult a qualified financial and tax professional before making investment or planning decisions.
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About the Author
Michael Urch
As a CERTIFIED FINANCIAL PLANNER,™ Michael advises his clients on insurance planning, investment planning, retirement income planning, tax planning, and estate planning. He prides himself on being a professional advisor who puts planning before products. This is one of the reasons he was attracted to 360 Financial’s client-focused culture. Michael likes to start with each client’s “why.” By understanding what’s truly important to them, the “what” of investment and planning strategies can be custom-designed to support their long-term ambitions.
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About 360 Financial
360 Financial is an independent wealth management firm with a team of specialized financial advisors and financial planners. As fiduciaries, 360 Financial’s advisors provide services to business owners, entrepreneurs, and professionals. We help investors with sudden wealth, retirement planning, tax planning, estate planning, and business financial planning.
Headquartered in Minnesota, we serve investors across the US with online and in-person wealth management and financial planning services.
