Note: This is a hypothetical case for illustrative purposes only.
K-Mart Retiree
Primary Goals
Understand her financial situation as a widow and consolidate investments to a single advisor

The Situation

Joyce, a Northern Michigan native, retired from K-Mart 20 years ago and was accustomed to her husband managing all their finances.

Sadly, with his passing, Joyce finds herself navigating unfamiliar waters.

Though not a finance expert, she understands the importance of securing her financial future.

The challenge now lies in consolidating various investments scattered across different advisors and gaining clarity on her financial situation as a widow.

The Approach

Our personalized and compassionate approach was multi-faceted:

Family Involvement: At Joyce's request, we welcomed the participation of her adult children in the process.This not only eased her mind but also ensured a multi-generational understanding of her financial plan.

Investment Consolidation: One of Joyce’s main priorities was consolidating her investments under a single advisor.This streamlines her portfolio and makes management and tracking infinitely simpler.

Financial Literacy: Recognizing the potential vulnerability of her situation, we placed an emphasis on educating Joyce.This involved straightforward explanations of her investments, returns, and any associated risks.

Budget and Expense Review: Given Joyce's fixed income in retirement, it was crucial to examine her cash flow.We outlined a budget that prioritized essential needs while also allocating for occasional leisure activities, to maintain her quality of life.

Estate Planning: We facilitated a meeting with an estate planning attorney to protect her assets and legacy.This ensures Joyce’s wealth and property will be distributed according to her wishes, easing concerns about the financial well-being of her heirs.

The Results

Joyce now has a simplified, consolidated portfolio and a clear understanding of her finances.

The involvement of her adult children in her financial planning has been a source of immense comfort to her.

She is now confident in her financial stability and enjoys the peace of mind that comes from an informed, family-inclusive approach.

Other Success Stories
Note: These are hypothetical cases for illustrative purposes only.