Overview

Marion Jentzen*

  • Age 54
  • One daughter—married with 7-year-old
  • Divorced after 28 years of marriage

Family Finances

  • Income: $87,000 from alimony and part-time work
  • Investment assets: $525,000 including a 401k to which she is currently contributing

Marion’s Priorities

  • Prepare for future reduction in alimony (for life, but based strictly as a percentage of ex-husband’s income)
  • Save for retirement
  • Use some of her earnings to help other family members
  • Make sure she has adequate insurance in all areas and an estate plan which includes her future grandchildren

How We Helped Marion

  • We helped her establish boundaries for spending—distinguishing between basic expenses and discretionary spending
  • We guided her through likely scenarios of what her ex-husband’s income would be in future years, which would directly impact her income (alimony payments)
  • We helped her set reasonable goals for her own retirement savings, which will supplement Social Security and the reduced alimony amounts
  • We helped her set up a college savings fund for her granddaughter
  • We advised her as to appropriate ways to help other family members, and modeled the impact of this support on her own long term retirement savings and income
  • We worked with her other advisors, including insurance agent, estate planning attorney, and CPA to make sure that all the proper instruments were in place to meet her goals

Marion is now working towards set benchmarks on savings and the achievement of her other financial goals. Based on her progress and growing confidence in her ability to manage her own finances, she was able to comfortably take an extended trip to Italy with a group of girlfriends last year. She is also confident that if her ex-husband’s alimony were suddenly reduced, she would still be financially secure.

*These case studies illustrate the hypothetical experiences of fictitious clients based on a common scenario our clients have experienced. These case studies are designed to generally illustrate how we may provide our services to our clients. Keeping in mind that no two clients, situations, or experiences are exactly alike, these case studies are not to be construed as an endorsement of the Firm by any of its past or current clients, nor any assurance that we may be able to help you achieve the same satisfactory results.   

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