By Mike Gibbons, RICP®
At Gibbons Financial Group, we strive to provide our clients with the tools to enable them to retire with confidence. With custom-designed wealth and investment management strategies, our clients are empowered to live out their retirement years the way they want to.
Exactly how we assist each individual depends on that person or couple’s primary objectives, goals and financial situation. Below, we have detailed how we provide clarity and insight to those who seek our help.
Our Clients
So who are our clients exactly? Our clients have typically been with us for over a decade and originally found us through word of mouth. In general, our clients have developed extensive careers in the bio-pharma, space, and healthcare industries. They are often married with grown children. Many of our clients are empty nesters (or soon to be) who have done a great job saving for their retirement, and their retirement savings reflects their solid career path and disciplined savings strategy.
Our Clients’ Challenges and Goals
Many of our clients are looking to transition into retirement with a comprehensive wealth management plan that takes into account tax planning issues, any long-term care issues, and supplemental medical insurance. They also come to us in need of updating wills, trusts, and estate planning documents. In general, they want to build a bridge that allows them to ease into retirement as seamlessly as possible.
How We Help
We work with each client to create the best strategies to maximize their investments, Social Security, and pension. If there is a gap between the time they retire and the retirement age, we ensure our client is supported with a steady flow of income to avoid the 10% fee of withdrawing from their Roth IRA too early. We also love working with our clients’ CPAs to develop the best claiming strategies for their Social Security and their pension.
Many clients benefit from visually mapping out their retirement strategy. That’s why we use proprietary software, called RetireUp, to allow clients to visualize the long-term sustainability of their income. This helps us understand where gaps may exist in their retirement plan. We then seek to verify the long-term income success and income sustainability.
We also analyze each client’s insurance plans. Aside from examining the life insurance policies, we also look at their supplemental health and long-term care insurance needs. At this point, the client needs to think about their asset preservation strategy. Would they be able to pay for long-term care for themselves or their partner? Or would a traditional or hybrid long-term care plan be the best option?
The Outcome
After analyzing all the income, tax, investment, and insurance strategies the client is using, we then discuss whether or not we can achieve income success with the desired retirement ages. RetireUp gives us access to this comprehensive information in a visual format that helps the client understand the outcomes should they retire at an early or later age.
For most of our clients, knowledge is power. When they know when they can retire, they can make plans to make the most out of their retirement—whether that be volunteering, traveling the world, or visiting family.
We’re Here for You
Retirement planning is a critical step in your wealth management strategy, and it can be overwhelming. Let us take some of the stress out of your retirement planning by analyzing your current strategies. We are excited to announce that we’re currently taking new clients, and we’re happy to welcome new clientele to Gibbons Financial Group! Call 224-419-5550 or email me at Mike@gibbonsfinancialgroup.com to schedule a complimentary consultation. And be sure to join our free webinar, Retiring Early From Pharma.
About Mike
Michael J. Gibbons is founder and president of Gibbons Financial Group, an independent advisory firm providing custom-tailored financial planning and investment management services to pharmaceutical and healthcare professionals and their families. Mike has over 25 years of experience and spends a significant portion of his day working with pre-retirees and retirees, focusing on asset management, Social Security and pension planning, as well as retirement income preparation.
Mike has degrees in both business and psychology from Lake Forest College and currently holds his Retirement Income Certified Professional (RICP®) designation from the American College. Mike was named a Five Star Wealth Manager for 2016 and 2018* Mike is heavily involved in his community, having served on the Village of Gurnee Police Pension Board as a Community Volunteer and the St. Patrick’s Parish Financial Board. When he’s not working or volunteering, Mike loves playing golf and spending his time with his wife and children. To learn more about Mike and how he can help you, connect with him on LinkedIn, visit his website, and register for his free webinar, Retiring Early From Pharma, created specifically for professionals retiring from the pharmaceutical, biotechnology, and healthcare industries.
*Award based on 10 objective criteria associated with providing quality services to clients such as credentials, experience, and assets under management among other factors. Wealth managers do not pay a fee to be considered or placed on the final list of 2016/2018 Five Star Wealth Managers.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.