CASE STUDY

divorceThe Circumstance

Meg’s biggest worry was running out of money.  If there is one thread running through most of our divorcees’ list of concerns, this is it.

 

 

Our Strategy

One of ClearRock’s Core Values is education.  What we don’t know can hurt us.  At no time is this truer that when a woman who has never managed her own financial affairs is thrust into that position.  We took time to listen to Meg and her real concerns surrounding money.  We helped fill in the holes of her financial literacy through straightforward discussions and educational resources.

We helped her collect statements from each part of her financial life including insurance policies, brokerage and retirement plan statements, tax returns, and more.  Once we had the data, we input it into our system which was able to provide a holistic view of her total wealth in a secure portal she could update in real time with additional information as she collected it.  With the help of her attorney and tax advisor, a true picture of her financial possibilities emerged.  We spent time crafting a financial plan for her new life which spoke to her risk tolerance, her aspirations, and her goals.


The Outcome

Meg now has a plan.  After re-titling her accounts and opening new ones, helping her change her beneficiary designations on her retirement accounts and insurance policies, we know that she has a clear idea of her overall asset allocation and how much income her various portfolios generate. She tells us that she is comforted by the monthly MoneyLink we’ve established that deposits her income each month automatically into her bank account.  She doesn’t worry about money.


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