David & Melissa
Tenured Professor & Senior Leader at URMC
CASE STUDY 02 : AGE: 55 & 52
Work Optional
Primary Goals:
Minimize future taxes, align investments with long-term goals, and create a reliable income stream while keeping the option to work as long as it is meaningful.
The Challenge
David and Melissa are long-time University of Rochester professionals. David is a tenured professor. Melissa is a senior leader at the University of Rochester Medical Center (URMC) who manages large teams and complex budgets.
Both love the challenge and purpose in their careers. They are not counting down the days to retirement, but they want to know they could step away if their priorities change.
Financially, they have been diligent:
Strong six-figure combined income
Maximizing TIAA 403(b) and 457(b) plans
Making backdoor Roth IRA contributions
Building substantial cash reserves and home equity
Maintaining the right levels of life and disability insurance
Yet as they enter their 50s, their questions have changed:
“Are we missing smarter tax moves before Required Minimum Distributions hit?”
“How should we handle Roth conversions while our income is still high?”
“Are we taking the right amount of investment risk?”
They realized they did not want to solve these pieces alone. Their careers are demanding and their benefits are complex.
The Approach
We built a Retirement Strategy Plan designed around their specific benefits.
Mapped out a multi-year Roth conversion strategy to lower future RMDs and Medicare surcharges (IRMAA).
Reviewed TIAA retirement plan options and consolidated outside accounts for a cleaner, lower-cost structure.
Modeled different Social Security timing strategies to maximize lifetime benefits.
Created flexible income guardrails so they could scale back or consult without jeopardizing their long-term security.
The Results
David and Melissa:
Lowered projected lifetime taxes through Roth conversions.
Simplified their investments and cut costs by moving away from default, high-expense funds.
Know exactly how much they can spend each year without risking their plan.
Understand the impact of keeping or leaving URMC employment (including benefits and income) at different ages.
Gained a clear, organized picture of all accounts and decisions in one place.
Most importantly, they now feel in control. They can continue meaningful work at UR and URMC or step away with confidence. Their plan shows how to manage income, taxes, and healthcare at every stage.
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.”