Member Success Story: Financial Help Before and After Retirement

the hand of an old woman moving a white checkers piece on a yellow-and-brown checkerboard, amidst other white and black checker pieces

Employees are looking for objective guidance concerning their finances, and many are finding that MSA is the answer.  Jo Ann, for example, wanted help with planning for retirement.  When asked about her experience with MSA, Jo Ann said, “My Money Coach has been a constant supporter… before and after my retirement.”

To start off, Jo Ann’s Money Coach and retirement specialist provided an analysis and assessment of her current status, showing that she lived on $4,000 monthly, and consequently, needed about $50,000 each year.  From there, Jo Ann and her Money Coach discussed a plethora of topics surrounding her financial future:

“It was a very difficult decision to finally decide which form of pension I would take (company’s monthly annuity or the lump sum), and [my Money Coach] guided me successfully through this process.

Prior to retiring, [my Money Coach’s] guidance had been very valuable in referring me to those who specialize in providing tax information among other services.  We have discussed the status of my 401k, and we continue to have this discussion.  We have had to discuss the possibility of increasing medical costs due to possible health issues.  Finally, our discussions and review of my monthly spending has been very beneficial in keeping my budget on track.”

Jo Ann’s consultations allowed her to make smart decisions because her Coach left no stone unturned.  They discussed how and when to use each of Jo Ann’s retirement accounts, included consultations with MSA tax specialists, and as she put it, “used the benefit of several legal referrals, one being a very important step in creating my living trust.”

Through financial planning, Jo Ann accumulated enough to meet 96% of her yearly income with her annuity alone.  She also maintained an IRA, and boosted her 401k from $95,700 to $128,000.  And all of that was on top of regular savings.

Even when retirement finally came, Jo Ann knew the benefits of her Money Coach’s support, so she continued to meet with her Coach.  She expressed her gratitude when she said, “[My Money Coach] is awesome, and I can’t say enough good things about her coaching support.  She is detailed and on target with guiding me through whatever situation I am facing.  Thank you!”

Through MSA, Jo Ann received the best information available for her financial plans, and you can too.  Reach your financial goals with solid financial planning by calling 888-724-2326 today.

The Snapshot of Success
a table showing the impact on finances before and after working with a money coach: $95k saved in 401k versus $128k; $50k needed for yearly income versus met goal; unsure about retirement accounts versus confident action plan; 0 consultations versus 68 consultations with a money coach; an MSA member since 2010