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After years of building a successful legal career, aseasoned partner at a prominent law firm found themselves at a crossroads. Withretirement on the horizon and a complex web of income streams and investments,they realized that technical success alone wasn’t enough – they needed a plan.While they had been diligent savers, they sensed untapped potential in theirwealth and wanted to ensure they could step confidently into the next chapterof life with clarity and control.
That’s where Grand Wealth Management came in. This case study explores how we helped this client, who we’re calling The Professional Partner, translate decades of hard work into a strategic, tax-efficient, and purpose-driven retirement plan. From simplifying income sources to enhancing long-term financial flexibility, we provided the guidance and partnership they needed to turn complexity into confidence.
As a busy partner at a leading law firm, our client approached us at a pivotal moment in their career. They had spent decades excelling in their profession and diligently saving, but with retirement on the horizon, felt they could be doing more to optimize their investments and reduce their tax burden. With various income streams — compensation payouts, partnership distributions, Social Security timing, future required minimum distributions, and withdrawals from multiple investment accounts—they didn’t know how to piece it all together into a sustainable retirement strategy.
Further they were unaware of ways to plan around these income streams to maximize benefits while minimizing taxation. At the same time, they recognized the need to delegate financial management to someone they could trust, someone who could see the bigger picture and ensure not just a successful transition to retirement, but a fulfilling and enjoyable retirement once they got there.
For high-earning professionals, retirement isn’t as simple as flipping a switch. It’s often a puzzle with many moving pieces, including:
At Grand Wealth Management, we began by doing a thorough review of their financial picture and addressing the specific challenges they faced in making the leap from work to retirement. Here’s how we made a meaningful impact:
1. Tax-Efficient Savings Strategies
We helped the client maximize the value of their final high-income years and their first few years of retirement by transitioning savings and directing post-retirement payouts into tax-advantaged accounts, utilizing Roth conversions, and optimizing deferred compensation elections. This allowed us to enhance future tax flexibility while working to ensure their investments were growing with as little tax drag as possible. Cash and[G1] appreciated assets were strategically gifted to fund long-term charitable and family gifting goals.
2. Simplifying Income Planning for Retirement
One of their primary concerns was how to create a dependable retirement paycheck from multiple, often complicated, income sources. We crafted a custom income plan that balanced the timing of partnership payouts, Social Security benefits, and required minimum distributions. By coordinating these sources alongside their investment withdrawals, we created a steady and tax-efficient income stream throughout retirement—especially during the critical “gap years” before Social Security and required minimum distributions (RMDs) began.
3. Minimizing Tax Drag on Investments
To help the client preserve and grow their wealth, we re-aligned their portfolio to minimize taxable capital gain distributions and optimize the tax location of investments. Through active daily monitoring for tax loss harvesting opportunities, and careful management of appreciated securities, we reduced unnecessary tax exposure while maintaining strong after-tax returns.
4. Lifetime Asset and Lifestyle Planning
Beyond the mechanics of saving and investing, we worked with the client to envision what a meaningful and fulfilling retirement could look like. We helped them transition from a mindset of "getting to retirement" to fully enjoying their post career life.
Through our partnership, the client gained clarity and peace of mind about their financial future. They transitioned into retirement with a well-orchestrated plan for generating income, minimizing taxes, and supporting their loved ones. With the details of their wealth management handled by our team, they felt confident and liberated to embrace the opportunities and joys of their next chapter.
If you’re a busy professional ready to take control of your financial future and delegate the complexities of wealth management, we’re here to help. Start the conversation with Grand Wealth Management today and discover how we can help you retire on your terms and live the retirement you’ve envisioned.
