Education Through Planning

An example of education through planning:
A married couple comes to us looking for financial planning help. Although the husband makes good money and we have already helped him to establish a team of trusted advisors, his wife is fearful of the unknown since her father died, leaving her mother to raise her and her siblings alone and in financial peril.

After visiting with them for a short time, we learn that their goals are:

• Having a plan that is transparent so that each partner can comprehend their current and future lifestyle goals in terms of their retirement strategy and financial legacy
• Ensure that a plan is in place in the event that the husband is no longer able to support his wife

The solutions identified for this couple are:

• Explaining the pieces of the financial plan so that each spouse has a clear picture of what they have in terms of assets and how these assets are being used toward the goals
• Providing education for each partner on their current saving and investment strategies, and helping them to understand what their options are should one or the other become disabled or pass away
• Creating and demonstrating the implications of a variety of “what if” scenarios and describing the work that is in place to mitigate these potentially negative scenarios

The preceding is a hypothetical case study and is for illustrative purposes only. Actual performance and results will vary. This study does not represent actual clients but a hypothetical composite of various client experiences and issues. Any resemblance to actual people or situations is purely coincidental. This case study does not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed, and a financial advisor should be consulted.