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Sujata discusses the case of a divorced client – supremelytalented but reticent to commercially exploit her skills. When Sujata showedher the sizeable retirement gap that she was facing, her client decided to shedher reticence and has now evolved into a renowned and hugely successfulprofessional, known around the world for her work. Stepping up income was part1 of Sujata’s objectives, ensuring wise investment was the other. She showedher client a rent vs buy scenario to persuade her to continue renting while herportfolio grew – a decision that has reaped handsome rewards.
The next case was an especially difficult one for Sujata:divorced woman 2 years away from retirement with only a PF balance of 38 lakhsto see her through, with 2 grown up children to look after and two aged parentsto tend to. Task 1 for Sujata was to ensure that she upskilled herself tosecure a job post retirement to keep an income stream going. Task 2 was to chatwith the children and sensitize them of the need to chip in to support thefamily financially once they began earning. Task 3 was a 10 year long journeyto sort out myriad legal tangles to help secure and then liquidate a valuableasset, which has now got her client set for life.
The role of a true financial coach goes so much beyond goalplanning and investing – a coach is an enabler – one who helps you realize yourfull potential, one who works with you to turn around a hopeless situation toone of comfort and confidence.
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Appreciated Sujatas role and how she helped navigated client. Thanks for sharing it.
Wonderful insights indeed. Very encouraging to note how one can soothe the already stressed nerves of distraught women investors who always had to bank on some male members of the family to decide on her financial wellbeing. Emotionally challenging times need careful nurturing and both hard and soft decisions to hit the right balance. Equally important for MFD/RIAs to build a team of Tax consultant, legal experts, persons who can take care of complex insurance or property related issues to reach out a wide array of clients whose needs might be also diverse.
