Case Study

Home equity important to retirement planning

Mr. & Mrs. Smith, Chesapeake (names changed for confidentiality)
The Smith’s turned for help to our retirement planning and home equity firm in 2008. He was 55 and she was 53. He and his wife said they would like to retire but were unable to because they did not save enough money in their retirement plan.

They will both be eligible for Social Security benefits of $2,600 per month and he has a military retirement paying him $1,300 per month. Their combined net income was $7,800.00+ per month. Most people would think this alone would be sufficient to retire on.

However, if nothing was changed regarding their current retirement planning, and they retired at age 65, their $152,000 nest egg would be depleted by age 69. In only four years, they would have to make serious sacrifices to their quality of life -- and they told us they did not want to decrease their standard of living in retirement.

They realized there were in an uncomfortable predicament -- they did not have enough savings to meet their retirement goal and they did not have enough time to save it.

Our retirement planning advisors did a few things for Mr. & Mrs. Smith. To start, we had them remove $150,000 from their home equity to build a plan using an indexed life product. This provided the safety, liquidity and rate of return needed for the home equity.

We then had them start using our Equity Accumulator to pay off their mortgage. With the house paid off prior to retirement, they will be able to decrease their needed income by $2,000 per month, making the $7,800 sufficient to live the quality of life they envision.


About TriQuest Equity Management
We are a financial planning company whose financial advisors specialize in converting deferred taxed IRA’s to tax free ROTH IRA’s, 401(k) strategies, home equity services, equity management, equity for life, home equity management, home equity uses, investment real estate equity, retirement planning, Roth IRA conversions, IRA conversions and fixed index products for clients in Virginia Beach, Norfolk, Chesapeake, Suffolk, Portsmouth, Newport News, Hampton, Williamsburg, Hampton Roads, Eastern Shore, Richmond, and throughout Virginia. Our retirement planning advisors and Roth IRA advisors are the backbone of our equity management company, and separate us from other asset management firms, financial advisor companies, and retirement planning firms.


For a no-cost phone consultation, feel free to call us at (757) 424-8901 or fill out this form.