CASE STUDY #5
Adapt to change, get organized, optimize investments, get peace of mind on financial future.
The thought of starting over had never crossed Judy's mind. So when this major life transition was pushed into the spot light, Judy's first reaction was to reach out to her trusted family and friends for emotional support.
Once the initial shock had settled, Judy began to put the pieces of her life back together. Her biggest hurdle was gaining an understanding of her new financial life and the details of her separation agreement.
Judy was feeling overwhelmed now being front and center of her finances, a role her husband had handled throughout their marriage.
Judy needed someone who she could lean on to help her through the process of starting over. She needed more than a Certified Financial Planner, she needed someone who would listen.
Other than learning how to manager her finances, she wanted a second opinion on her separation agreement to be sure she was being treated fairly.
It was important for Judy to have clarity on what her future would look like. She needed to have the answer's to questions that had been keeping her up at night.
How will my divorce impact my future retirement?
Am I receiving my fair share of my marital assets?
Who will help guide me through this process?
I want to get organized and begin to move forward, Help!
Judy knew it was time to find a trusted advisor who could be a confidant, teacher and coach.
The first step was for Judy to consult with her legal council to ensure all of her affairs were in order. She trusted her legal council but understood the firm she worked with did not specialize in personal finances.
After meeting with a number of Certified Financial Planners, she found a good fit with a firm who had helped other divorcee's through this life transition.
With a trusted planner in place, her goals were analyzed and documented. Order was brought to her finances and a clear path was created. One that outlined her next 5 years and a clear picture of her ability to retire in the future.
Through the process of working with her legal council and her new financial planner, Judy was able to:
Restructure the separation agreement to provide a more reasonable offer
Organize her financial affairs in a way she could understand
Develop her financial education through ongoing coaching
Have peace of mind that she is going to be ok
Attain a clear path to a retirement date
With a plan in place, Judy could start focusing on the important things in life. Family, friends, hobbies and LIVING!
Note: The above case study is hypothetical and does not involve an actual IG Private Wealth client. No portion of the content should be construed by a client or prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction if IG Private Wealth is engaged to provide investment advisory services.