Carol
Senior Research Administrator at URMC
CASE STUDY 01 : AGE: 56
Nearing Retirement
Primary Goals:
Consolidate investment accounts, mitigate taxes, create a reliable retirement income stream.
After more than 25 years helping advance medical research at the University of Rochester, Carol began thinking seriously about retirement. Over her career, she accumulated a mix of accounts: a long-tenured TIAA 403(b) from her U of R years, 401(k)s from previous employers, and a growing brokerage account.
She and her husband live modestly, own their Fairport home outright, and want to spend more time with their three adult children (one still finishing college) and two young grandkids. Carol was confident she’d saved “enough,” but wasn’t sure if her portfolio was structured to fund her lifestyle and leave a legacy.
The Challenge
Carol had more questions than answers:
How should I consolidate my mix of retirement accounts (TIAA, 401(k)s, brokerage)?
How can I reduce taxes as I transition from saving to withdrawing?
Do I have enough to pay for healthcare if I retire before 65?
When should I start Social Security and Medicare?
How do I confidently switch from saving to living on my investments?
Like many high-achieving U of R professionals, Carol was great at her career but hadn’t had time to turn a lifetime of saving into a clear, tax-smart retirement income plan.
Our Approach
We started with a Retirement Strategy Meeting to understand Carol’s goals and concerns. Instead of pitching products, we focused on:
Full account inventory: TIAA 403(b), prior employer 401(k)s, brokerage.
Tax-aware planning: Exploring Roth conversions and how to withdraw efficiently.
Income guardrails: Designing a flexible, predictable income plan before Medicare and Social Security begin.
Healthcare bridge: Factoring in ACA coverage costs if retiring before 65.
Legacy planning: Structuring accounts so her kids and grandkids could inherit efficiently.
We coordinated closely with Carol’s tax professional to ensure every move was optimized for taxes and timing.
The Results
With her Retirement Blueprint in place, Carol:
Created a clear retirement timeline with milestones for Social Security and Medicare.
Consolidated and organized her scattered accounts into one cohesive strategy.
Reduced potential taxes through smart withdrawal sequencing and Roth conversions.
Maximized her final working years by fine-tuning contributions and adjusting investments for retirement income needs.
Built a reliable income stream to cover the early retirement years confidently.
Today, Carol says she feels relieved and excited. She knows exactly when she can retire from U of R, how to fund her lifestyle, and that she’s leaving a meaningful legacy for her kids and grandkids.
Learn more about my approach to retirement planning for University of Rochester professionals.
“This case study is provided for illustrative purposes only to provide an example of the firm’s process and methodology. The results portrayed in this case study are not representative of all client situations or experiences. An individual’s experience may vary based on his or her individual circumstances and there can be no assurance that the firm will be able to achieve similar results in comparable situations. No portion of this case study is to be interpreted as a testimonial or endorsement of the firm’s investment advisory services. The information contained herein should not be construed as personalized investment advice.”