Stories are a great way to share so I want to share a story about Kay. She is similar to some of the women we work with.
Kay recently lost her husband Mike; he was only 62 years old. In addition to the grief and overwhelm from a sudden loss, Kay now had to deal with all of the financial issues associated with death. To compound the situation, Kay had never been involved in the financial decision making. She was capable and managed most of the day to day spending, but she had no real knowledge of investments and her long-term needs.
When we are working with widows like Kay, we know that our process needs to be a bit slower as well as more involved than it might be when working with a couple or someone not in the grieving process. Additionally, if the widow has not been the primary financial decision maker, we need to provide sufficient education to allow for better decision making.
Based on Kays needs and her overall situation, we might take the following steps over the first several months.
Over the years, we would continue to work with Kay to deal with many of the ongoing financial needs she might have. However, Kay would have a solid strategy and plan for moving forward with more confidence and clarity within her first year.
The example above is provided for illustrative purposes only to provide an example of the Firm’s process and methodology. It does not constitute investment, tax, or legal advice. An individual’s experience will vary based on his or her individual circumstances, and there are no assurances that the techniques and strategies discussed herein are suitable for all investors or that the predicted results will occur. Past performance is no guarantee of future results. Different types of investments involve varying degrees of risk, and actual results will vary from those portrayed herein. Therefore, it should not be assumed that the future results of any specific investment or investment strategy will be profitable. No portion of this hypothetical scenario is to be interpreted as a testimonial or endorsement of the Firm’s investment advisory services. The information contained herein should not be construed as personalized investment advice. Please contact us for additional information with respect to the strategies and/or investments described herein.