THE VOLUNTEER
| Name | Gloria | |
| Age | 61 | |
| Marital Status | Single | |
| Dependents | 0 | |
| Yrs to Retirement | 1 | |
| Financial Goal | Gain greater control over and preserve her assets | |
| Aspiration | Volunteer as a much-needed doctor in Africa |
Gloria has been busy with clinical work in Manhattan for 27 years and is ready to retire from her practice. Newly single and with her children starting families of their own, she is relishing life and certainly isn't ready to "retire" just yet. She wants to continue in medicine, but she's ready for a change. She's decided to spend the first part of her retirement in Africa, volunteering as a much-needed doctor.
Gloria's savings include fixed-income investments, an employer-sponsored retirement plan, and a recent cash settlement. She plans to roll over the qualified assets into an IRA for greater control.
After consulting with her advisor, Gloria determined fixed investments, such as bonds, can provide stable overall returns and low maintenance. Because she has made a significant salary as a doctor, she also wants to be mindful of preserving her hard-earned wealth.
Also, buying life insurance, which is an insured product, for her daughter will enable Gloria to leave her granddaughter, Emily, a lump sum with fewer tax implications.
Learn more about Lincoln's life insurance.
