Buyout Planning

Are you retiring from one of these companies?

	Abbot Laboratories		Ford Motor		Sara Lee
	AON		Fortune Brands		Sears Holdings
	Aldi		GM		Tenneco
	Baxter International		Kraft Foods		Tribune Company
	Boeing		McDonalds		United Airlines
	BP		Motorola		United Stationers
	BMW		Morton Salt		U.S. Cellular
	Brunswick Corporation		Navistar International		Wilson Sporting Goods
	Caterpillar		Nicor		W.W. Grainger
	Chrysler		Nisource
	CDW		Quaker Oats
	DTE		RR Donnelley & Sons
	Exelon		Smurfit-Stone Container

James Blackburn is a financial planner in the Metro Chicago and Metro Detroit area.  Since 2001 he he's counseled retirees on their retirement options when presented a buyout package.  He is familiar with the packages being offered from all the major corporations in the Metro Detroit and Metro Chicago areas.  

James helps people every day to plan for their future and organize their finances for greater financial security according to their goals.  He is aware of the risks retirees face today and does his best educate his clients.  He approaches every buyout offer with a fresh perspective because even though many of the packages are universal in structure every person’s personal financial situation and goals are not universal.

Deciding which options to select in a buyout offer is only one piece of the puzzle when planning for a retirement income that will last for the rest of your life.  Choosing the same option as your coworker can be dangerous to your financial future because his goals may not be the same as yours.  James has a deep understanding of his buyout client’s concerns in their decision making process.  

He uses the Buyout Checklist below with his buyout clients to review every consideration when helping them with their financial plan.

What Every Buyout Candidate Needs To Ask

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Print this Buyout Checklist and use it as a reference.)

	Will your buyout check be taxable?  Or do you have the option of rolling it over to an IRA and deferring the taxes?
	What would happen to your current employment position if you decided to stay? Is there any job security?
	Could you stay at the company?  Or does it appear that your department or plant will close down in the near future?
	What is your current level of education? Will you need to further educate yourself to find another job or career?
	Will there be other positions opening up somewhere else that will cater to your current skill set or knowledge base?
	What type of benefits will you have after you accept the buyout package?
	Could you afford to go back to work for a lesser wage and benefits? Would you need to go back to work?
	How much do you have saved up in your retirement plan right now? Will this be enough?
	Do you have additional financial obligations to your family such as paying for a child's college education?
	Do you believe you can afford to take the buyout?  What type of savings plan will you have for retiring?
	Is there a business that you always wanted to start?  Are you confident the economy will be able to support this business?

These are the important questions you have to answer when preparing your plan.  James has uncovered there important considerations when working with other clients.  Some of these questions can be difficult to answer because there are unknown variables.

Family Protection Group is committed to keeping up-to-date with all of the economic changes and plans being offered to buyout candidates.  His goal is to be a resource that you can use to feel confident with your buyout planning decisions.

We provide a free consultation to anyone who is offered a buyout package.  We feel it’s not only important to work with a professional who is knowledgeable in financial planning but also the buyout programs offered in your area.

James works with you to review your answers from the buyout checklist and helps you build a roadmap that shows where you are financially and how your buyout decision will affect your retirement plan.

Many of our clients have found this meeting to be well worth their time.  Their retirement vision became clearer after speaking out loud about their concerns in an open discussion format and their questions were immediately answered without having to spend time performing their own research.  Even if you decide not to accept the buyout with your employer this free one hour meeting will be the most valuable 1 hour you’ve spent in a long time.  When you become aware of all the possibilities that await your perspective changes and you feel more confident with making your decision.

If you would like Family Protection Group to take a look at your buyout plan and share our professional perspective on the latest planning strategies then click below.  

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