THE ENTREPRENEUR
| Name | Bill | |
| Age | 63 | |
| Marital Status | Married | |
| Dependents | 1 | |
| Yrs to Retirement | 0 | |
| Financial Goal | Minimize risk and protect his hard-earned savings | |
| Aspiration | Start a business based on his lifelong passion — cars |
Years of hard work and determination have helped Bill make his way to the top. He's now ready to leave corporate America behind and pursue his true love — cars. He's heard about a small car garage up for sale a town over and sees this as the time to finally follow his dream.
Leaving the company from an upper management position, Bill has built up substantial savings over the years and also has assets in large employer-sponsored plan and extensive stock holdings, and an IRA on the side. He is seeking to diversify his portfolio further because of his significant holdings on a single company's stock.
After talking to his financial advisor and carefully reviewing his options, Bill purchases life insurance, which is an insured product, to ensure protection for his family with a guaranteed death benefit. It will also address the estate taxes that typically would affect a large amount such as Bill's.
He also invests part of his portfolio in a variable annuity to maintain a stream of income while he gets his business up and running. Not only should there be available income, but his investment will also have the opportunity to continue to grow.
Learn more about Lincoln life insurance.
Learn more about Lincoln variable annuities.
