After a recent divorce, Michelle took on two jobs and was new too handling her own finances.
A friend referred Michelle to BPP, and we got busy assessing her situation. The first thing Michelle needed was to gain confidence about her financial future, so we crafted her Security Income Plan. Doing so not only gave her clarity about her goals, but it also gave her newfound confidence: She asked for a raise from her employer, at an institution where employees generally “didn’t ask” for raises. She did, and she got the raise she wanted!
Now Michelle was making the money she needed to afford her lifestyle, which included her savings and proper amounts of life, disability and long-term care insurance. She also started to enjoy investing, something she was never interested in before. Michelle was confident that if she lived a long life, she would have the money. If she died her family wouldn’t suffer financially, and if she became disabled she could afford the kind of care she would want. Knowing that you won’t be a burden to anyone is very powerful.
After being in relationship with Bill for 10 years they decided to get married. We advised them that we should do their combined Security Income Plan, which we did. Imagine being in your 60s and knowing that financially you don’t have to worry! Sadly, Bill was quickly diagnosed with an aggressive form of cancer and had little time before he would pass away. Thankfully Michelle knew that she could afford to take as much time off as she needed and was able to be there until the end.
Today Michelle is doing great despite the loss of her husband.She knows what she has and she is putting aside what she needs to save, to live well. In fact, she has over-funded her savings so that she is now able to gift money to her two children and now her grandchildren.
This material is being provided for general information purposes only and should not be construed as investment, tax, or legal advice, or as a solicitation to buy or sell any specific securities product, or used as the primary determinant of the best strategy. Although these are actual events, not all clients will experience the same result and there is no guarantee of future performance or success.