Bill & Diane - A Real Life Example of RetireNow's Value

This is a real life story. The results, while more dramatic than most, illustrate the value that our clients are able to create for their prospects and clients as a result of using RetireNow.

Background. It was my first meeting with Bill (65) and Diane (62). They attended a seminar I gave and were meeting with me so I could prepare a plan for them. After 30 years of marriage and successfully growing a business, Bill and Diane were preparing for retirement. It should have been a happy story, but it wasn't. We met at their attorney's office. Before I went in the room, the attorney pulled me aside. "Don't go in there yet. They're fighting." When I asked for information, he told me that their relationship had become increasingly strained and that they were actually considering divorce. When I walked in the room, they were sitting on the same side of the table - two chairs apart. I started the interview by asking for some basic information. Bill ran the show. Diane was silent.

Bill's Scenario. Bill was a successful real estate developer. They owned both commercial and residential properties worth about $4 million dollars. In addition to this, they had about $1 million in investments. They had become accustomed to an upscale lifestyle of approximately $200k after taxes. According to Bill, here's what retirement looked like. No major changes to their current situation. He would continue to work part time, managing the properties. Their lifestyle would go unchanged.

I entered the data while we talked. We completed all of the questions to create a basic financial plan in about 20 minutes. The graphic results projected on the wall were very clear. The strategy as he described it, would work. Bill looked at Diane as if to say, "See! I told you." The plan was complete and Diane had said nothing, just sitting with her arms crossed. I shifted my attention to her. "What would you do differently?" I asked. For the next 15 minutes, she unloaded while Bill sat silently with his arms crossed.

Diane's Scenario. In her mind, Bill's plan was logical but doomed to failure. According to Diane, there was no way Bill could stay on top of the properties "part time". Diane wanted to sell the properties, put the proceeds in the market, and live off the investment. They had worked hard and it was time to reap the rewards. When I modeled her plan, the results also looked very good. And then it hit me …

Scenarios Compared. Without saying anything, I pulled the two plans up side-by-side. Despite opposite approaches to the problem, the difference in projected net worth was relatively small. The room was silent. They were stunned. And then Bill turned to Diane and said, "If that's the only difference between them, I'll do it your way." The ice had broken.

Results. When they left, Bill shook my hand all the way from the conference room to the front door. When I called the attorney the next day he said, "What did you do to them? They're talking again!" The end result for me was a multi-million dollar investment client. The end result for them was a mutual understanding of where they stood, what they could have, and shared vision of what they wanted.

Moral of the Story. People tend to generalize off of their own experience - whatever happens to them is 'real.' These views become the basis for strongly held beliefs. "I'm right and if you're different, you must be wrong." And this makes it very difficult for people to think about or talk about highly emotional issues like retirement and estate planning. RetireNow helps you help people see their thinking, and talk about it in a way that is both productive and non-invasive. This creates a more effective way for people to play out scenarios so that they can understand their options, build dreams, and take action - together.