A Real Discussion About
You and Your Money
Lori B. Gervais, CFP®
Questions We Ask Ourselves
 What does money mean to me?
 Where do I see myself in the next 2, 5, 10, or 30 years?
 Does...
Professional Women Speak Out:
Perceived Challenges
 Women tend to live longer than men.
 Family caregivers for children ...
Professional Women Speak Out:
Changes on the Way
 Younger women are now taking responsibility for their own
financial fut...
Professional Women Speak Out:
Financial Services Desired
 401(k) plans and IRAs – Can a planner guide me?
 Insurance – H...
The Five Phases of Your
Financial Future
1. Knowing What You Know
2. Protecting Yourself
3. Taking the Long View
4. Hoping...
Phase 1: Do You Know What
You Know?
 Make a list of assets.
 Make a list of liabilities.
 Create a net-worth statement....
Phase 2: Protect Yourself
 Take stock of your insurance: life, liability, and disability
 Consider identity theft
 Revi...
Phase 3: Take the Long View
Retirement income streams
 Social Security—ways to manage it
 Annuities—multiple options
 I...
Phase 4:Hope for the
Best--Expect the Worst
 Women live longer than men.
 Women make up 75% of assisted living facilitie...
Phase 5: Getting a Partner in
Your Corner
 Consider a financial professional.
 How do financial professionals work?
 Wh...
Types of Financial
Professionals
There are many kinds of financial professionals. Below are
some key terms you should know...
Choosing a Professional
Key questions to ask:
 Do the professionals have one of the key designations?
 Do they have a cl...
How Professionals Work
 True wealth managers are NOT ―hot stock‖ pickers.
 They do help with the big financial picture.
...
Warning Signs
 Planners are vague about their processes.
 They patronize you because you're a woman.
 They make promise...
The Consultative Process
The Next Steps
 Gather all your paperwork to take stock of your
financial situation.
 Use the five phases as a checklist...
gervaiswealthmanagement.com
lgervais@rwbaird.com
1539 West Market Street
Mequon, WI 53092
262-240-3519
Robert W. Baird & C...
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Lori Gervais - A Real Discussion about You and Your Money

  1. 1. A Real Discussion About You and Your Money Lori B. Gervais, CFP®
  2. 2. Questions We Ask Ourselves  What does money mean to me?  Where do I see myself in the next 2, 5, 10, or 30 years?  Does what we do matter?  Are the things we're doing making a difference?  Are our jobs making us happy?  Are our jobs and lives meshing?
  3. 3. Professional Women Speak Out: Perceived Challenges  Women tend to live longer than men.  Family caregivers for children and aging parents.  Careers may be interrupted by family decisions.  Too busy to take charge of finances.  How can women network as men always have to get advice and find financial planners?  Best laid plans can be derailed.  How and when do I use a financial planner? How do I find one I can trust and that isn’t condescending?
  4. 4. Professional Women Speak Out: Changes on the Way  Younger women are now taking responsibility for their own financial futures.  More women are getting involved in investment clubs.  Women are increasingly becoming equal financial partners in their marriages.  Older women are reaching out to peers—leaders and other successful people.  CERTIFIED FINANCIAL PLANNER™ Professionals
  5. 5. Professional Women Speak Out: Financial Services Desired  401(k) plans and IRAs – Can a planner guide me?  Insurance – Have it, but is it enough?  Mapping a financial roadmap – On track with peers?  Investment advice - How often should I review it?  College plans – Kids are little, should I already be thinking about this?  Estate Plans – Have it, but no idea what it means.  Long-term health care – Need it? How much?
  6. 6. The Five Phases of Your Financial Future 1. Knowing What You Know 2. Protecting Yourself 3. Taking the Long View 4. Hoping for the Best—Expecting the Worst 5. Getting a Partner in Your Corner
  7. 7. Phase 1: Do You Know What You Know?  Make a list of assets.  Make a list of liabilities.  Create a net-worth statement.  Put assets into categories – liquid, short, mid, long term  Make a list of your cash flow in and cash flow out.  Start making decisions on retirement needs.
  8. 8. Phase 2: Protect Yourself  Take stock of your insurance: life, liability, and disability  Consider identity theft  Review your estate plan.  Consider your financial plan as a couple.
  9. 9. Phase 3: Take the Long View Retirement income streams  Social Security—ways to manage it  Annuities—multiple options  Income-generating portfolios—assembled with professional help  Pensions—if you are fortunate
  10. 10. Phase 4:Hope for the Best--Expect the Worst  Women live longer than men.  Women make up 75% of assisted living facilities.  Consider long-term care insurance—discuss terms with an advisor.
  11. 11. Phase 5: Getting a Partner in Your Corner  Consider a financial professional.  How do financial professionals work?  What are the signs of a good financial professional?  How do you choose one?
  12. 12. Types of Financial Professionals There are many kinds of financial professionals. Below are some key terms you should know.  Registered investment advisor—registered with the SEC or a state’s security agency to provide investment advice.  CERTIFIED FINANCIAL PLANNER™ professional— certification granted by the private CFP Board  Chartered Financial Consultant—designation granted by the private American College  Broker—sells securities on commission and provides limited advice.  Financial planner—generic term. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
  13. 13. Choosing a Professional Key questions to ask:  Do the professionals have one of the key designations?  Do they have a clean record with FINRA, the SEC and state regulators? These are public.  Do they work with friends or relations—and have they been satisfied?  What is their communication process with clients?  Are they willing to collaborate with my CPA and attorney?  What is their process for managing my investments?
  14. 14. How Professionals Work  True wealth managers are NOT ―hot stock‖ pickers.  They do help with the big financial picture.  They consider personal and family circumstances.  They’re interested in all aspects of your life.  They offer a wide range of services.
  15. 15. Warning Signs  Planners are vague about their processes.  They patronize you because you're a woman.  They make promises about returns.  They don't ask about what your needs or fears are.
  16. 16. The Consultative Process
  17. 17. The Next Steps  Gather all your paperwork to take stock of your financial situation.  Use the five phases as a checklist, asking yourself:  Does my plan address my entire financial picture?  Have I developed a written financial plan that can assist me in making wise financial decisions?  Does my portfolio align with my values, goals, and objectives?  Review your plans—for your career and retirement.  If you have a spouse—now is the time to talk!
  18. 18. gervaiswealthmanagement.com lgervais@rwbaird.com 1539 West Market Street Mequon, WI 53092 262-240-3519 Robert W. Baird & Co. does not provide legal services. Member SIPC.
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