Our Purpose

I’ve been a financial advisor for 20 years, and I’ve seen it all. Watching what my clients have gone through — their failures and successes — taught me a lot. And there was a common theme that I didn’t realize until recently.

To help you understand why I created Simple Money Tips for Women, let me tell you a story.

I had some clients named Mr. and Mrs. D. (D is to respect their privacy.) One day at my office Mrs. D. stopped by my desk and said, “Walter, my husband is getting ready to retire. I would love for you to schedule an appointment with him before he does so we can make sure everything goes smoothly.” I thought he might have a 401k plan that we could rollover, and I was looking forward to helping them out.

The next day Mr. D. stopped by the bank to make a deposit. I said, “Hi, Mr. D. Your wife wanted me to schedule an appointment with you so we can discuss your retirement. I would love to….” But he interrupted, “I know what I’m going to do. I don’t need your help.”

Fast Forward 6 months

Mrs. D. came into the office and told me that Mr. D. had passed away. (Unfortunately, I never had a great relationship with Mr. D. because he viewed his finances like a poker game — he always kept his cards close to his vest.) After the funeral Mrs. D. wanted to meet with me to discuss things. She started telling me about all the memories and about their daughter Miss S. who lives on social security disability because of some health problems.

I’ll never forget what she told me next: “When my husband retired, his pension was $5,000 per month, his Social Security was $1400, and mine was $800. When he died, I LOST ALL OF HIS PENSION. He wanted to take the larger amount from his pension, which has left me with nothing.”

Say what?????

I wish this story had a happily-ever-after Disney World ending, but it doesn’t. Mrs. D. was forced to sell her house and move into her daughter’s apartment. She and her daughter made $2800 a month collectively, but 4-5 years later, her daughter became ill and died. (Her daughter was only in her 30’s.)

Purpose

It’s because of tragic stories like these that I want to help educate women. My mother struggled terribly as a single mom, and I have a wife and three daughters. Many women know that finances are important, but financial decisions often end up at the bottom of the list or being taken care of by a husband. I want Simple Money Tips for Women to be a tool to help women simplify budgeting, finances, investments and retirement.

I want to empower women — whether they are single, widowed, divorced or running the finances for their household — so they can have control over their finances and their future. Unfortunately, I have more stories like Mrs. D. — stories that can be avoided with the right tools and the right information.

Simply put: My mission with Simple Money Tips for Women is to educate and empower women so they don’t end up like Mrs. D.