3 Case Studies: Clients We’ve Helped
I’ve spent more than 17 years serving women, their spouses, and extended families with their most significant financial needs. My mission is to create an environment that inspires women to become fully engaged in their financial affairs, naturally leading to feelings of power and strength over their lives, and optimism about their future.
As a financial and life management firm, The Athena Network is unique in that we go beyond your financial planning needs. We strive to support you in any area where your life and finances intersect. In keeping with that goal, we offer value-added solutions and services aimed at helping you to evaluate life’s trade-offs and to make decisions that align with your values.
I believe that proactive and personalized financial planning and investment management can make a significant impact on your future beyond attaining confidence and financial organization. It can also make all the difference regarding your financial goals, retirement plans, and insurance needs. Here are three recent examples of clients we have helped.
Case Study #1: Early Retirement
Many people wonder when they can retire, and one client with whom I was working wasn’t sure if she could afford an early retirement in the next year. Deciding when you can retire and for how long your money will last is no easy task, and it’s a common concern among many pre-retirees.
I started by learning about this client’s vision of an ideal retirement. Everyone has a different definition of a comfortable lifestyle, and the first step was for me to discover how this client envisioned her retirement. Along with understanding her dream for the future, I needed to know the reality of her present.
With any client, a detailed look at her financial situation is a crucial step before making any recommendations. Along with running a Financial Independence Analysis to see her position of wealth, I also reviewed with her several variations to the base case and Monte Carlo analysis. This helps us understand any potential risks they face depending on the economic climate or investment choices made.
Exploring all angles of her financial picture helped her to make an early retirement decision and feel more confident that she would be able to pursue and maintain her vision of retirement.
Case Study #2: Purchasing a Vacation Home
Many of my clients are successful families. They’ve worked hard to build their wealth and want to make sure they spend it wisely. One such family wanted to purchase a vacation home, but they weren’t sure if they could afford to do so or how they would secure the down payment.
We started by updating their Financial Independence Analysis. This allowed us to see the impact of a vacation home purchase on their finances, including whether or not their lifestyle would need to change or if they’d need to cut back on spending. We also reviewed their various options for securing a down payment, including eliminating several we determined would result in unfavorable tax consequences and penalties.
Eventually, the couple found the right vacation home at a price that worked within their budget, and obtained sources of down payment money that did not have any penalties or tax consequences. They were also able to make their purchase with a clear understanding that they would likely be secure in their future retirement but that they would have a little less “wriggle room” in their spending.
Case Study #3: Updating Insurance
It’s not uncommon for me to meet with clients who can’t remember the last time they reviewed their insurance policies. Too often, we open a policy and shove the paperwork into a drawer where it gathers dust.
One married couple I worked with hadn’t reviewed their auto and homeowner insurance policies in several years. They weren’t sure if they were adequately covered or over-insured, or if their premiums were reasonable.
First, I performed a detailed review of their policies and found areas for improvement. To accomplish this, I reached out to other companies for comparable quotes and searched for opportunities to lower costs. This included changing their homeowner’s coverage, so it was based on replacement cost, and reducing their auto policy’s first party medical expense coverage since they had such good health insurance.
We also eliminated identity theft coverage from their homeowner’s policy since they owned a separate identity theft policy, and eliminated roadside assistance from their auto policy since they had AAA.
In the end, these clients were able to attain comparable insurance at much better rates with a different insurer that had an excellent reputation for claims service. By opting for replacement coverage on their primary home, they could adequately protect their largest single asset. And lastly, these clients saved a significant amount of money by eliminating unnecessary and duplicated coverages.
I work with a diverse range of women and their families facing unique needs and situations. Whatever the case, I aim to tackle them through a proactive process that focuses on understanding your circumstances, addressing your concerns or fears, and creating strategies designed to help you achieve your goals.
If you’re experiencing a situation similar to one of these case studies or face an entirely different need, I encourage you to reach out to me. I’d be happy to evaluate your situation and share how I can help. There are no obligations, and your consultation is on me. Email me at email@example.com, call 484.224.3439, or click here to schedule your free introductory meeting.
Lisa Strohm, CFP®, MBA is the founder and CEO of The Athena Network and Good Life Advisors of the Lehigh Valley, fee-based wealth management firms. She specializes in providing financial planning, investment management, and life management services for women and their families across the U.S. With more than 16 years of industry experience, she sets her firms apart from traditional wealth management companies by focusing on providing clients with an educational, collaborative, supportive experience that inspires her clients to engage in their financial lives. If you have a question, please click this link to schedule a phone call today. To learn more, visit https://the-athena-network.com/ or connect with Lisa on LinkedIn and Facebook.
Investment advice and financial planning offered through Good Life Advisors, LLC, a registered investment advisor. Good Life and The Athena Network are separate entities.