Bob & Betty
Bob and Betty have been retired for 10 years. They are enjoying their retirement and are both healthy and active, but need to make sure they have enough budget for emergencies. When their financial planner retired, they worried that they’d be left high and dry, without a reliable source of financial advice and support.
Problem
Bob and Betty were satisfied with their financial advisor. They were set to live out their retirement years in comfort.
But when their advisor told them that he himself was retiring, they were jolted from their sense of stability.
Their advisor gave them one last word of advice before he left though, he provided them with a referral to another Financial Advisor.
Approach
At our initial meeting, I would listen to their concerns with focus and intent. I would give them confidence in their near future and their retirement plans.
I would listen intently about their plans, and determine what type of investor they are. If I determined they were conservative investors, I would pursue investments that fit that profile.
I would build a custom-tailored financial plan based on Bob and Betty’s reality, needs, goals, and desired lifestyle.
Result
I would work with Bob and Betty to help build up resources for retirement without the need of making extreme saving efforts.
I would also look at more effective ways of managing their money according to their retirement goals and plans. Things change every year, so I would make sure everything is taken care of, saving the couple time and energy to do the things they enjoy the most.
If Bob and Betty would have any concerns in the future, I would provide them with proper information and direct answers to their questions.
I would also provide them with viable options to consider and then give them space to come to their own conclusions. I would also make sure they have all the information they need to make an informed decision.
I strive to help people enjoy a good retirement, but I also enjoy building a good path for their children to be able to manage their wealth, too.
Note: This is a hypothetical story and not indicative of any specific situations or client. It is presented only as an example and not intended as investment advice. Investing involves risk, and there is no assurance that any investment strategy will be successful.
Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.
