submitted by denise hagan your money: get clarity. get...
TRANSCRIPT
SEPTEMBER 2019 • 21
Expert Contributor
Submitted by Denise Hagan
YOUR Money:Get Clarity.
Get Confident. Get Control.
If you’re like many women, you may feel intimidated by or uninformed about investments. You’re smart…you’re accomplished…but figuring out the stock market hasn’t been “your thing.” Besides, you’re EXTREMELY BUSY!
Here’s a reality check: like it or not, 90% of women will be totally responsible for their own financial situation at some point in their lives.1 The last thing you want to do is make a mistake with your money. And how do you avoid the stress when the market jumps up and down like an EKG registering a heart attack?
Preserving Every PennyOne woman wanted to be “safe” with her money. She simply couldn’t bear the thought of losing a single penny. So, she kept everything in her savings account and CDs because she thought that meant her money was “safe.”
But she didn’t understand that having only “safe” money wasn’t really being safe at all. She didn’t realize that she was simply trading one risk for another one that was potentially even more concerning.
The “safe” money in the bank couldn’t keep up with the rising costs of the lifestyle she was accustomed to living. With interest rates so ridiculously low, her money wasn’t growing enough
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22 • SEASIDE NEIGHBORS
to even keep pace with inflation. That gallon of milk didn’t cost $1.00 anymore.
She was actually taking on more risk. Over time, it’s possible she could run out of money, forcing her to live on just Social Security.
After working with her, we were able to create her plan around her goals for her money without creating the stress of the market rollercoaster returns. Based on her risk tolerance, time horizon, and overall financial goals, we were able to take the appropriate amount of risk with the appropriate amount of her money. By helping her get more informed and educated, she felt much more in control of her situation. And she could live her lifestyle with confidence instead of worry and stress.
Freaking Out Watching the Market CrawlIn another situation, there was a woman who had a sizeable chunk of her money invested in the stock market. She had been told she had to do this to make more money to support her lifestyle.
There she was… glued to the market crawl on the screen. She thought she could handle the ups and downs…but in reality, she was freaking out.
That’s when she came to me for help. Again, based on her personal financial profile and goals, we were able to set up a plan to help her avoid unnecessary risk. Some assets would benefit when the market rose. And some would be unaffected by a stock market drop. Some would create a guaranteed income stream that she could never outlive. And some would be available for her right now. The key for her was having enough money she could count on no matter what happened with the market and also having the right amount of money growing so she could easily deal with the rising cost of everything down the road.
After working together, she was no longer afraid of losing everything. And she positioned herself to make smart decisions that gave her money the opportunity to work for her instead of against her. The best part? She could do all of it without panicking!
By helping her get more informed and educated, she felt much more in control of her situation. And that relieved her stress. THAT freed her to focus on things that were more important to her than worrying about her money.
From “Scaredy Cat” to Excited Another woman described herself as a “scaredy cat” when it came to her money. She was petrified about making a wrong decision.
Although she had previous advisors, they never sat down with her to explain things in a way that made sense to her. She felt that either they acted like she didn’t need to bother her “pretty little head” or they used technical jargon in an effort to impress her with how much they knew.
Each approach left her wanting…and that’s when she came to see me.
Working together, I was able to show her how her money worked and how the amount of risk she takes can impact her well-being. We mapped out a strategy to give her income now…and in the future…while putting the right things in place to protect her so she doesn’t have to worry about the “what ifs.”
Now, not only is she less stressed about her investments, she actually looks forward to reading the reports as soon as they arrive. And she always knows that if there’s anything she doesn’t understand, she can always call me to help her learn more. So, instead of investments being scary to her, she finds them exciting!
Having a Plan Can Reduce Stress and Improve Quality of LifeMost people have more important things to do than worry about their money. Imagine what life would be like if you didn’t have to worry…
… because you knew your investments were where they were supposed to be
… because someone actually sat down with you to figure out a plan tailored just for you
… because you had a plan based on your goals, your concerns, your dreams.
Having professional guidance in this area so you can approach the market in a controlled way can have a significant impact on your stress level and your quality of life.
If you’re curious about reducing the stress and worry about investing so you can have the lifestyle you want, call to schedule a free discovery session with Denise to see if we’re a good fit. Our number is 904.484.7756.
1 Fopiano, Jill. Market Watch, 2018 07 03, “Why many women won’t talk about money and how to get past it.”
©Hagan 2019
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM) (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Denise Marie Hagan is a Representative of Northwestern Mutual Wealth Management Company® (NMWMC), Milwaukee, WI (fiduciary and fee-based financial planning services), a subsidiary of NM, and federal savings bank. All NMWMC products and services are offered only by properly credentialed Representatives who operate from agency offices of NMWMC. Representative is an Insurance Agent of NM and Northwestern Long Term Care Insurance Company, Milwaukee, WI, (long-term care insurance) a subsidiary of NM, and a Registered Representative of Northwestern Mutual Investment Services, LLC (NMIS) (securities), a subsidiary of NM, broker-dealer, registered investment adviser and member FINRA and SIPC.
No investment strategy can guarantee a profit or protect against loss. All investments carry risk, including potential loss of principal.
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SEPTEMBER 2019 • 23
Most women think that planning for their financial future is time consuming, daunting, and stressful.
But actually, it could be simple, extremely meaningful, and energizing.
If they just had clarity about how to make the right financial decisions and had an expert on their side helping them understand what to do and how to do it, they could create wealth without feeling overwhelmed.
If you’re a woman who handles your own finances now or will at some point in the future, you owe it to yourself and your family to make your finances a priority.
If you’re anything like most of the women I work with, you’re a hard worker and very conscientious in many areas of your life – be it career, family, social engagements, or giving back to the community.
And …
You’re incredibly BUSY.
I get it. Being a woman in a male-dominated industry, I’ve had to focus on making a name for myself by working extra hard to provide even more value to my clients. I’ve been in the financial business for more than 38 years, and I’ve been incredibly busy. For me, it wasn’t my finances that were the challenge…it was spending too much time at work. I had a wakeup call when my husband experienced a life-threatening illness. And it wasn’t the only time this happened…he almost died 3 separate times. Thank goodness I had my finances taken care of because it allowed me to spend more time with my family when I needed to.
I know how quickly life can change… how important it is to anticipate the best and prepare for the worst that life throws at you. This is what I do for my clients.
Wouldn’t it be wonderful if you also found the process simple, extremely meaningful, and energizing?
Wouldn’t it be great if you had the best night’s sleep you’ve ever had after letting us help you?
My team and I believe that you can be confident about money. You have the potential to create the wealth and comfort you want for yourself…for your children and your grandchildren.
We make it easy for you to make an informed decision about your own financial plan. For example, we were working with a grandmother and helped her with strategies to protect her own wealth while creating a legacy for her children and grandchildren. She felt tremendous relief. It was an unbelievable bonding experience for the entire family. Not only were we able to streamline her plan, we were able to employ tax-efficient strategies to help reduce income taxes and create gifts that her grandchildren could appreciate and fondly remember her by long after she leaves this plane of existence.
If you’re at all curious, schedule a free discovery meeting to see if we’re a good fit. If you step up, we’re dedicated to helping you, because we love what we do! We’re not for everybody, but we might be the best advisor for you.
Denise Hagan, CFP®, ChFC®, CLU®, RHU®
Wealth Management Advisor
Northwestern Mutual Wealth Management Company
108 Sea Grove Main St., Ste. C
St. Augustine, FL 32080
904.484.7756
denisehagan.nm.com
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