MARRIAGE & MONEY. Planning For Forever After

Transcription

1 MARRIAGE & MONEY Planning For Forever After

2 Introduction Did you know conversations about money are a primary - if not the #1 - source of conflict among couples? Addressing both the emotional and communication components of relationship conflicts over money is essential to improving the relationship, but one oftenoverlooked aspect that must be addressed is the source of the problem: the lack of a functional financial plan. This is why we created the Marriage & Money workshop: to help couples make better financial decisions and alleviate some of the stress and tension associated with money conversations.

3 Why Is Marriage & Money Financial Planning Workshop important now? People today are getting married later in life, and a growing number of people marry more than once. This means partners enter their relationships with more stuff" like established careers, 401(k) s, real estate, stock options, businesses, and - perhaps most importantly - an established money value system. Our goal is to help workshop attendees simplify their life merger by breaking it into digestible pieces and helping couples build a roadmap for success - together.

4 Who is part of Marriage & Money? The Marriage & Money program involves a team of stakeholders to guide couples through their money management journey. Our team includes: A Financial Planner An Estate Planner* A Therapist* A Mediator* A Life Coach* All are experts in their field, credentialed, and experienced helping couples navigate through this topic. *Participation varies by session type.

5 Who should attend? Anyone and everyone can benefit from our program, but the people who benefit most are those with complexities in their financial picture, including: ownership in multiple pieces of property, active business owners or executives, or those with complicated family dynamics. What do attendees receive? Clients who enroll in the Marriage & Money program receive: A sample Financial Plan Insights into Investor Behavior 12 Questions You Should Ask Your Financial Professional Notes on how to have Better Money Conversations Sample Money Value System Check Sample Personal Cash Flow Statement Sample Net Worth Statement 10 Things to Know About Community Property A personalized Risk Profile

6 This Is Not An Investment Or Insurance Product Sale! We do charge for the workshop because of the value of the content delivered by speakers. We pull back the curtain on financial planning with the goal of creating peace of mind that a solid plan can bring to a relationship. Other free programs tend to focus on budgets and debt management while designed to upsale other investment or insurance products. Marriage & Money is a fee-only financial planning firm that adheres to the strict code of only offering advice that is in the client s best interest at all times a fiduciary standard.

7 Four Benefits Of Attending Confirm what couples already know. Sometimes people simply need to hear that what they think they know is valid and valuable. Change perceptions by providing professional expertise. Often, a misconception or misunderstanding about money management can be cleared up simply by talking with a financial professional, paving the way for better understanding and the ability to determine a solid plan for the future. Expose couples to financial aspects they ve never considered. We learn something new every day. Attendees of Marriage & Money seminar will likely hear ideas they ve never considered for their financial future. Integrate multiple components of financial planning for better short, intermediate, and long-term solutions.

8 Why enroll in the Marriage & Money program? Financial conversations can be complex and most people need help understanding how to fairly and equitably compromise on money-related issues, as well as to determine a plan that makes both parties feel safe and secure. Many engaged, newly-wed, or long-time married couples need help, but don t know where to go or how to start. This program is designed to support relationships and help make conversations about money easier by building a functional financial plan. For Professionals: Participating in Marriage & Money can differentiate you and help you stand out as a resource for couples experiencing finance-related strife. As you work with your clients to help them resolve their problems, offering Marriage & Money as a tool is no different than if someone had a physical ailment to refer them to a healthcare provider. We are qualified professionals and welcome you to join our team to help your clients be happy and financially healthy. For Everyone: Marriage & Money Supports all types of relationships - Co-habitating, engaged, married, traditional/non- traditional

9 Marriage & Money levels the playing field From a social aspect, many of us are conditioned not to talk about money. In fact, a study by Ally Bank1 shows that 70% of Americans think that it s rude to talk about money. We are taught not to discuss money because it is personal and can be emotional, but this silence has also caused a knowledge gap many of us have not addressed. But if friends, family, and trusted professionals do not provide direction, who will? The Marriage & Money workshop provides financial information for both partners and gives couples a starting point for money-related conversations that allow the discussion not to turn personal or emotional, but instead to be a productive exploration about how each partner views money and share their vision for the couple s financial future. A telephone survey was conducted by Opinion Research Corporation among a national probability sample of 1,008 adults 18 years of age and older, living in the continental U.S. Title "Holiday Tip: Most Americans Say Social Conversations About Money are Taboo", According to Ally Bank's Money Talks Study MIDVALE, Utah, Nov. 24, 2015 Ally Bank

10 What makes Marriage & Money different from other money management programs? Other programs tend to focus on household budgets and debt management. But Financial Planning is so much more than a budget and 401k! In the Marriage & Money workshop, we address a couple s complete financial picture: goals and objectives, financial statements, risk management, investments, taxes, employee benefits, retirement plans, and trust & estate planning. Investment firms do not promote and generally do not offer this type of program because they primarily focus on individual decisions, investment products, and investable assets. We designed this workshop to facilitate communication between partners by integrating all the moving pieces in a couple s finances. Our WHY is because we care about our attendees' health and happiness and want to help bring some peace of mind to this common marital stress.

11 Why is financial planning important? Consider the following: 60% 50% 34% 29% of U.S. adults don't have a budget Less than half of Americans have a savings plan with associated goals of U.S. adults have zero non-retirement savings of adults save none of their annual income for retirement 30% 44% 30% 37% of workers say that they worry about their personal finances while at work of adults age do not have a will of Americans are not at all confident about their retirement savings of workers expect to retire after age 65 The 2014 Consumer Financial Literacy Survey Prepared For:The National Foundation for Credit Counseling (NFCC) Prepared By:Harris Poll

12 Our goal is to be viable resource for couples who don t have a solid financial plan and would benefit from a comprehensive, qualified, interdisciplinary approach to their finances. We want to help make the conversation about financial planning a pleasant one, forged in a partnership of understanding and shared goals; not an emotion-driven point of conflict coming from a place of fear and uncertainty. Our program will help allay the financial anxiety that negatively affects so many relationships. Want to Learn More? Visit us at or call

13 A Sound Financial Plan Total control Saving vs spending Asset allocation and location Market Returns Make the most of the aspects you can control, but be sure to evaluate factors that are somewhat or completely out of your control within your comprehensive financial plan. Employment earnings and duration Financial plan Policy regarding taxation, savings OUT OF YOUR control Some control Longevity Source: The Importance of Being Earnest, J.P. Morgan Asset Management, 2013

14 About Us Roderick Givens CFP CIMA Managing Member & Founder RainierView Advisors, LLC Roderick is a Certified Financial Planning, CFP practitioner and holds the Certified Investment Management Analyst, CIMA Designation from the University of Pennsylvania Wharton School of Business. Since 1998, Roderick has cultivated a diverse and accomplished background in financial planning and asset management, providing a wide range of specialized services to his clients. He s held positions as an investment analyst, manager, business development director, and investment sales director with several of the largest financial firms in the world before founding RainierView Advisors, LLC, an independent fee-only full fiduciary financial planning firm based in Seattle, WA. Nora Ludviksen Certified Mediator THETABLEMEDIATION.COM Nora Ludviksen is a certified mediator and founder of The Table Mediation. Nora believes that even the most difficult conversations hold potential for understanding each other s values and creating lasting accord. She helps people discover and practice the skills they need to handle conflict, improve communication, and make confident, durable decisions. Come to the Table. Michael Geoghegan Attorney Northwest Strategy and Planning, PLLC Attorney Michael Geoghegan is a father of a two and lives with his wife in West Seattle. He specializes in guiding parents through the process of making Wills with Guardian and Trust provisions for minor children. For clients facing the death of a family member, Michael process wills, trusts and handles remaining legal obligations.

15 RainierView Advisors, LLC is an investment advisor registered with the state of Washington. Advisory services are only provided after receipt of disclosure documents and execution of an advisory agreement. RainierView Advisors cannot and does not guarantee the performance of any investment or investment product. We may not transact business in states where we are not appropriately registered, excluded or exempted form registration. Individual responses to persons that involve either the effecting of transactions in securities, or the rendering of personalized investment advice for compensation, will not be made without registration or exemption.