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More personal finance knowledge means less stress before retiring

“I’m a strong believer in specialization,” said Kim McBride, an archaeologist employed by the university since 1987. “I put all my time and energy in my profession, so when I decided to start the retirement process, I appreciated consulting with someone who specializes in finances.”

Kim chose to take advantage of her employee benefits providing a free consult with certified financial planner Todd Macaulay, CFP®. “It took the stress out of the retirement process,” said Kim.

Prior to consulting with Todd, she had successfully followed her initial plan for retirement savings: set it and forget it. Todd caught her up on what she needed to know about her portfolio, the stock market in general and her options moving forward.

She gained perspective on long-term considerations and her more immediate concerns, including how much to withdraw from her UK matching retirement savings carried by Fidelity.

“I didn’t want to spend down my built-up investments too quickly,” said Kim. “So, Todd gave me a conservative estimate of what percentage I could withdraw and assume my investments would, over time, yield a return to basically replace what I withdrew.”

Kim determined a monthly withdrawal amount she felt comfortable with to supplement to income from continuing her work at the university on a part-time basis. “The archeology here is so fascinating I haven’t been able to leave.”

Satisfied with the financial decisions she made, she said, “he offered the knowledge I needed and it’s reassuring to know I can talk to him again if I need to.”