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Although women come to me with different stories, my specialty is in working with those who have suddenly come into a large sum of money. I provide the highest quality service and focused attention to women who are committed to their financial success and who are serious about having confidence in their financial decisions. |
Are you a woman who has come into significant wealth?
I teach women how to manage their new-found wealth and coach them to move forward in their new life with clarity, focus, ease and grace.
Although the circumstances as to how these women have come into money vary, clients who work with me typically share many of the following characteristics. If the statements below sound like you, chances are, I can help you bring greater clarity and perhaps some sanity into your life.
Gambling or lottery winners, does this sound like you ?
- Day-to-day money management is a struggle. You’ve hit the lottery and you think that you can spend whatever you want, whenever you want. Sorry to say, many lottery winners end up bankrupt within five years of their windfall. It may take some time to either learn how to manage your new-found wealth or even to realize that you’re not capable of doing it on your own. You and I will work through the process and set up the appropriate money management systems.
- You have fear or discomfort about the future that is affecting your ability to enjoy your sudden wealth. You’ve never been wealthy and the responsibility is a combination of terrifying and overwhelming. Do you feel that it would be easier to just spend all the money than it would be to learn how to take care of it ?
- Family members and friends are coming to you asking for help. It’s natural to want to help your friends and family members, but it’s difficult to ask them to sign a contract or legal agreement when they ask you for money. The truth is that it’s more important than ever to get these agreements very clear, in writing. Many family relationships are easily and frequently destroyed over money, and being able to say that your Financial Coach is insisting on a written agreement will makes things so much easier. I’ll also teach you how to say “no” when it’s appropriate to do so.
- With your new wealth, friends or family members may not be able to afford the things that you can now afford. You find yourself either having to pay for them or needing to find new friends. I’ll help you find your comfort zone and will give you a sounding board as these tricky situations present themselves.
- You don’t have a relationship with a Financial Advisor, CPA or an Attorney who specializes in high net worth individuals. I can make introductions to a variety of Financial Professionals and guide you through each process.
You’re going through a divorce or you’ve lost your spouse.
You may be experiencing some of the following thoughts about money:
- This is the first time you have had to manage your own money. Riki was 57 years old when she opened her first checking account. Her husband had always taken care of their money and when he left after 40 years of marriage, she had never even written out a check. Riki and I worked together until she understood her day-to-day financial picture and felt comfortable managing it herself. Throughout the divorce process, she needed help understanding and negotiating the options of her divorce settlement, and it was a blessing for her to have a sounding board who was able to see the whole picture, not just the legal issues.
- You are unfamiliar with some of the financial products that you own. When Rhonda’s Dad died, his will directed that his assets be divided equally between herself, her brother and her brother’s two minor children. The problem was that the will wasn’t specific about exactly how the assets were to be divided and they were quite diverse. Rhonda and I met with her father’s Investment Advisor so that she could better understand those assets and then negotiated with her brother until a fair agreement was reached.
- You don’t know where to start. Carla needed assistance completing the paperwork to collect her husband’s life insurance proceeds and filing the estate tax return. She knew that at some point, it would make sense to sell their large family home and we hired a Professional Organizer to come in and help her sort through the many years of belongings they had accumulated. When she was ready, we also brought a Realtor on board to not only sell her existing home, but to help her transition into her new home. For Carla, coaching was invaluable, because it gave her structure and a sense of order when completing each of the necessary tasks.
You’ve inherited a large sum or have gained access to your trust fund.
Clients may feel:
- They are viewed as irresponsible by family members and/or trustees who are currently managing the trust assets. Brooke had been told her whole life that there was a trust fund that would be available to her when she turned 30. Admittedly, she had been irresponsible with money in her early 20s, but she had turned things around and was looking forward to the new business she planned to start with some of the trust assets. Her Dad, the trustee, was accustomed to having full control of the trust and didn’t want to relinquish it. Although Brooke was legally entitled to the trust assets at that point, we met with her father and showed him the detailed business plan. We talked at length about how Brooke had been working hard to improve her financial condition. She was prepared to take legal action to gain control of the trust if necessary but was able to convince her father that a more cooperative transition was justified. They continue to meet quarterly, and Brooke’s father has become an integral part of her business planning.
- Insecure or fearful about their own ability to manage the trust assets. Gretchen and her husband Bill became the trustees of her father’s trust when he became incapacitated by Alzheimer’s disease. They immediately met with her father’s Financial Advisor, but didn’t like the way that they were being treated. The Advisor seemed put out by their questions and didn’t have a lot of time for them. They reached out to me for support, and we went back and met with the Financial Advisor together. Again, the Advisor seemed to be bothered by our questions and anxious to end the meeting. As a result, we decided that Gretchen and Bill should consult with their own Financial Advisor and they ended up moving a substantial portion of the trust assets over to him. In this case, I was able to provide unbiased feedback on their experience with Dad’s Financial Advisor and as a result, they felt comfortable with their decision to work with someone else.
You’re career is taking off.
Hallelujah ! You’ve worked hard and it’s finally paying off, but now all of a sudden there’s so many decisions to be made. There may be stock options or insurance plans that you can’t even begin to understand. Sometimes, you just need someone to bounce ideas off of but other times, you need the right Financial Professional to guide you through a decision process. I can help you find your way through the maze of decisions you’re facing.
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These clients all have one thing in common. The future ahead of them is different from what they had expected and it allows for opportunities they may not have ever imagined. Clients working with me benefit most from Life Coaching, as it encourages them to create a plan for their future that is grounded in what is most important to them.
Regardless of how sudden wealth is attained, clients sometimes don’t know who they can trust or where to go to get the services they may or may not even be aware that they need. In certain instances, they become targets of either those who are attempting to steal from them or family members who believe that things should be other than the way they are. Money can bring out the worst in people, but having someone on their side who doesn’t have a vested interest in their money can bring a lot of comfort and clarity to the situation.
No matter which of these situations you find yourself in, I can help you. Learn more about how I work with clients.
