INVEST IN WOMEN | WOMEN IN PLANNING

Your clients ’ plans are only as solid as the least prepared person in their circle . By Suzanne Schmitt

Parenting

Lisa , a former colleague of mine at a brokerage firm , became a parent a few years ago . She assumed she could keep her job when she became a mother , and she and her husband , Jeff , secured a slot for their son , Jake , in a daycare near her office . Things worked well , until they didn ’ t . Lisa earned more than Jeff , but she had an unpredictable schedule . A couple of times , the school needed someone to pick up Jake , but nobody was around . Lisa wondered if they could keep it up , and after a few heart-to-hearts with Jeff , she left her job and stayed out of the workforce until Jake started school .

Reversing Roles After a few years , Lisa went back to work , Jeff was promoted , and Jake went to preschool . Things seemed normal .

But then one morning Lisa got a call that her dad was in the ER after what was suspected to be a heart attack . Her mother let her know he was stable but needed cardiac rehab . Could she come ? Lisa gave her team a heads-up that she ’ d be gone for a week . One week turned into several . After she ’ d exhausted her vacation time , she took a leave so she could help Mom see Dad successfully through rehab .

Aging Alone , Together

Her father ’ s heart attack was a wake-up call for both parents . They decided it was time to retire , albeit earlier than planned , and enjoy life . To help compensate for their retirement savings shortfall , they downsized and moved to a state with lower costs of living . While Lisa was happy to see them thriving , she missed them . And

MARCH 2024 | FINANCIAL ADVISOR MAGAZINE | 33