January 2014
Client Stories Part 3
This is the third in a series of real client stories. As previously stated, during these past 27 years, I have learned through trial and error that what our clients really want is confidence, leadership, and an authentic relationship with their advisory firm. You can read more about how we define confidence, leadership, and an authentic relationship in the previous articles by visiting our website www.rwroge.com.
I believe the client stories we share in this series of articles represent the kind of authentic relationships we have with our clients. We have obtained their permission to publish their story, but we have changed their names to protect their privacy.
Story #5. The Veteran Nurse
A client since 2004, Ms. Marie was referred to us by her brother, a client of our firm since 1999. Ms. Marie was working as a hospice nurse after having begun her nursing career as a lieutenant in the U. S. Navy. She served in Vietnam during the Vietnam War.
In 2004, Ms. Marie was going through a difficult time (divorce) and needed some financial guidance. We prepared a financial plan for her new lifestyle and addressed her goals. We then set up savings plans to fund those goals. She followed our recommendations to the utmost and would call us to “check in” and let us know how things were going in her life.
Recently, Ms. Marie told us that she was thinking of retiring from her position as a hospice nurse. In preparation for her retirement, we updated her financial plan, which helped provide her with a “track to run on.”
The plan update addressed a number of important decisions that could have a significant impact on her financial well-being for years to come. These included deciding when to retire and how much she could afford for housing in retirement.
The housing decision was particularly important since she had concerns about the condominium she currently owned.
Recent events had convinced her that the monthly maintenance fees on her condominium unit could rise substantially, and that she might even be subject to a large assessment, making it unaffordable at some point in the future. As with many decisions in life, these had a number of “moving parts.” We developed several different planning scenarios for her as a number of options presented themselves over a nine-month time frame. These scenarios included the sale of her condominium, the purchase of various new units she was interested in, the financing options available, and possibly renting an apartment, at least on an interim basis while she determined the best place to live longer term in retirement.
She particularly wanted to be close to her children and grandchildren, live in a safe area, and have convenient access to the city, since she loves the theater.
As of this writing, Ms. Marie has sold her former condominium, decided to rent an apartment for now, and to accept an early retirement package from her employer. Since Ms. Marie is still deciding whether the apartment she is in now is right for her for the long term, we have developed an investment plan for the proceeds from the sale of her condominium that will generate more income than keeping the funds in a money market account but will provide the liquidity she will need if she decides to purchase another condominium in the next few years. Ms. Marie has told us that she is truly grateful for the relationship she has with us as a trusted advisor in her life.
We would like to thank Ms. Marie for her service to our country and for being a valued client of our firm as well as allowing us to share her story in the hope that it will help others see the value and peace of mind that a financial plan can provide when important complex decisions have to be made.
Told By Christopher Wills, CFP®, CFA®, CPA-Director of Wealth Management
I hope these stories help you understand some of the things we do every day at R. W. Rogé & Company, Inc. Our work is about helping people to plan, achieve, and live the life they want.
If you, or perhaps someone you know could use our services, please let us know. We would be happy to set up a complimentary initial meeting to explore your needs.
Clients who have referred family and friends tell us that they feel grateful knowing their referral helped that person improve their financial situation often beyond what they thought possible. Friends or family who previously were floundering financially are now facing the future with a new feeling of confidence, leadership, and an authentic relationship.
Sincerely,
Ronald W. Rogé, MS, CFP®
Chairman & CEO
