My mother told me, “Don’t put all your eggs in one basket.” Too bad my mother never met Joanna.
By the time I met Joanna, she was in a tizzy. She was in the process of getting a divorce from Richard, her husband of 25 years, when he had a terrible accident and was permanently injured. Joanna couldn’t leave Richard now. Besides, Richard ran the family finances. No decision was made without Richard’s approval. Now Joanna found herself taking care of her husband, their child who had a learning disability, a home that was too big for her to manage, and the family finances.
Joanna was in a state of panic. Bills were piling up, late fees accumulating, credit scores plummeting, her husband’s condition deteriorating, the family portfolio was underperforming, and her daughter was acting out. She was immobilized and gripped with fear.
Working together, we were able to organize her financial records and give Joanna the tools she needed to manage her household. We ran projections and provided Joanna comfort in knowing that she was going to be financially okay but had to make a major change in their investment portfolio.
Richard spent a good portion of his professional career in the Far East. In his opinion,
China represented the future. Without consulting Joanna, he shifted the entire portfolio into the Chinese stock market. They had no diversification.
We restructured their portfolio so that they had a broader investment profile, which further provided a more predictable income opportunity. The portfolio risk/return profile was dramatically improved, as was Joanna’s confidence about facing the future.