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As CEO of an electronics manufacturer, Henry is contemplating retirement within the next five years. Much of his wealth is currently invested in his company through stock and options, not to mention his 401(k) plan.
His wife Mary is supportive of his decision to retire, but they both have a growing concern over outliving their assets. Will their investments support their lifestyle? She suggested they meet with PNC Wealth Management.
At PNC Wealth Management, an Investment Advisor explained the risk of having so much of their wealth concentrated in a single stock — a common scenario among many corporate executives.
PNC recommended an equity collar that gave Henry downside protection against a drop in the company stock price. Next, Henry’s portfolio was adjusted to create a greater concentration in the bond market, given his retirement goal of five years. That way, the couple would potentially receive a steadier income stream to help support their current lifestyle.
Appropriate wealth planning and gifting strategies — in consultation with the Henry’s legal and tax advisors — rounded out the retirement planning advice that Henry and Mary received from PNC Wealth Management, helping to potentially reduce their tax burden and helping to secure their future. The revised plan gave the couple the peace of mind they needed to enjoy their wealth — and their lifestyle — long into retirement.
As a client of PNC Wealth Management®, you’ll have access to an experienced PNC Wealth Strategist who can help identify and articulate financial, tax, estate planning, insurance and philanthropic issues. They will assist you in identifying your financial goals and create strategies to keep you on track.
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This story represents a hypothetical scenario and is intended for illustrative purposes; the person described is fictional and not an actual client, but the scenario is intended to reflect a typical and/or previously experienced situation. Actual client experiences and outcomes may vary and future performance or success is not guaranteed.
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