Rachelle is a 45 year-old mother of three kids who is recently divorced from her husband of 15 years. She had quit her job when she was pregnant with her second child and has been a stay-at-home mom ever since. During her marriage, while she took care of running the household and paying the bills, her husband was in charge of investing.
She feels completely overwhelmed. Her number one priority is to transition her kids through this difficult time, but financial decisions must be made. As part of the divorce settlement she received a lump sum division of their retirement plans and savings accounts. She will receive alimony for a fixed period of time, as well as child support, but knows she'll eventually have to go back to work.
Questions keep floating through her mind and are keeping her up at night: What should I do with the lump sum settlement currently sitting in stocks, mutual funds, and cash? Is it necessary for me to sell the home and move into a smaller one with lower expenses? When will I have to start working again? What will my retirement look like? Am I adequately insured?
She's been hesitant to work with a financial advisor because she doesn't want to be taken advantage of due to her lack of investment acumen.
Rachelle needs a Comprehensive Financial Plan without Retirement Plan.
As a fiduciary, I'm required to put my clients' needs before my own. Because I don't sell any investments or products, Rachelle can be assured that she's receiving unbiased advice with no conflicts of interest.