Linda has been widowed for 15 years. She retired from work 10 years ago, and now owns a beautiful condo in the city. Due to all the recent volatility in the stock market, she has become concerned that she may run out of money to cover her lifestyle expenses and will need a new plan of action. When she raises this issue with her current advisor, he is dismissive of her worries and doesn’t adequately address how different market scenarios will affect her portfolio.
After this conversation, Linda realized that she didn’t really understand how her portfolio has been invested and what level of returns she is earning on her wealth. Worst of all, she has no idea how much she was paying in fees and commissions. She wanted to gain a greater understanding of her financial picture, and needed a new partner to build a trusted relationship with.
How Artemis Helped
- We helped Linda get comfortable with her current financial profile and understand how much additional spending she could incur each year without jeopardizing her future.
- We showed Linda how she could “age in place” in her apartment, with the additional home health care aid, and not have to worry about insufficient long-term care insurance.
- We created a visual map of her existing estate plan to give her peace of mind that it divided the assets fairly among family members. The plan included which assets would get a step-up in basis when she passed and where these assets would be donated, including her favorite charity.
- We did a comprehensive review, including a detailed analysis of the pros and cons of Linda’s existing portfolio, which was being managed by another advisor.
- We compiled a detailed overview of all the various fees she was paying and demonstrated that she was overpaying for the services she was receiving.
