By LouAnn Schulfer, AWMA®, AIF®
I received a call from a client a few days ago: he had a small question. That quick question turned into an important discussion that drove home the value of our ongoing relationship.

Our conversation eventually led to how my client was stressed about his job. Covid, understaffing and supply chain issues made his job much more difficult, and he was determined to retire early. Looking at the size of his portfolio and doing some math (he has a minor in finance), he had his plans. For an advisor who didn’t know him well, that would have made sense. But as I listened, I imagined the “what ifs” for his retirement. What if his retirement went as he had planned? He would be happy, healthy and fulfilled, because retirement has always been one of his most important goals. What if his retirement doesn’t go as planned? In planning, there is the objective – the facts and figures, but there is also the subjective – the aspects that cannot be quantified. We discussed impersonal scenarios like bear markets and inflation, but more importantly, personal scenarios. I know this gentleman well enough to understand how much more important supporting his family is than anything he described. If one or more simulations play out and he is still employed, his family could face a storm. With assets but no income for the next few years, it could spell disaster for what he values ​​most if he were to retire early and unexpected financial pressure arose for the family. This, I suggested, would be far more stressful for him than any stress he had described in his job. Point taken. He decided to change his schedule over the next few years to reduce his stress while maintaining his income and benefits. I am grateful for our ongoing relationship as it provided the framework for my advice, which is the essence of a wealth management relationship.

LouAnn Schulfer is co-owner of Schulfer & Associates, LLC Wealth Management and can be reached at (715) 343-9600 or [email protected]
Securities and advisory services offered by LPL Financial, a registered investment adviser. FINRA/SIPC member.