Here’s the scenario. A valued client comes to you with a question:
Lewis, you’ve been helping me with my long-term retirement plan and that’s on track because we moved it mostly into bonds over the last five years. While the value’s been diminished somewhat, I trust that the market will come back over time. Besides, we’ve got a great annuity solution that kicks in two years from now when I start to phase into retirement.
I’m not too worried about the kids either because they’re finished with college and they have a trust that gives them an income stream. That’s sufficient for now.
I’ve paid off my mortgages and I’ve got no outstanding lines of credit.
Here’s the situation: I’ve just received a settlement from an estate from a distant aunt for $100,000–I know, I know, those who need the least have the most, right?
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