Common challenges people face

Over the years, the Unbiased team has gotten to know some very unique and interesting people. In spite of their individuality, their situations often reflect common lifestyle patterns. These patterns have been shaped into seven composite case studies and you’re invited to see if you can find yourself in these profiles.

If you find yourself – or parts of yourself – in one or more of these stories and are wondering what to do, please contact Unbiased Wealth Management for a no-obligation meeting.

Taken Off Guard

A professional or entrepreneurial couple in their mid-50’s. They’re enjoying a comfortable life. Their adult children are well established and doing fine.

The couple was under the impression that they could retire at any time. They have several investment advisors but no one was looking at the whole picture. No one was overseeing their net worth.

It turns out they are over exposed in the market for their age. Worse, they’re seriously under funded for their retirement. They will now have to delay retirement or significantly rein in their retirement lifestyle expectations.

New to Money - business sale 

An entrepreneurial couple in their late 50’s. They just sold their company and plan to retire on the proceeds of the sale.

They’re excited and they’re intimidated. They knew how to run a company but given current market conditions, they’re unsure how to invest their money. They don’t really know what their retirement income should be or how long it will last. They don’t have an advisor that they trust so their money’s in treasury bills until they figure out what to do.

They’re afraid and they’re uncertain because they don’t really know what’s possible. Ironically, all they need to do is get their net worth affairs in order so they can enjoy the fruits of their labour.

Recently Divorced

A newly single woman in her 50’s.  For the first time in her life, she finds herself responsible for managing a significant amount of money. 

She feels intimidated and afraid, even. And of course she’s reluctant to rely on her ex’s financial advisors.

The language of finance is foreign. She knows she’s inexperienced and as a result, she’s almost paralyzed. She does not know where to turn or who to call.

In this case, she needs to find an advisor who will take the time to help her gain the knowledge and confidence that she needs to create her new life.

The Senior Patriarch

This individual is in his sixties or early seventies. He is comfortable controlling his significant wealth.

He’s astute and knows that in the event of his illness or death, his wife will be unprepared to assume control.

He worries that the wealth they worked so hard to accumulate may not serve the purpose for which it is intended and might be a burden on his spouse.

In this instance, the patriarch needs to introduce his wife to an educational & supportive advisory service to prepare her for the inevitable responsibility of managing her wealth. 

The Senior Matriarch

A women in her sixties to early seventies, recently widowed who is looking to the future.

She is concerned about maintaining her independence as she ages. She wants to make sure she does not become a burden on her family. She also wants to ensure that her death and the subsequent distribution of assets does not sour family relationships. She knows that proper preparation is the key, but she is not entirely clear how to proceed.

The Confident Ones

They are entrepreneurs in their 40’s and 50’s, usually owner/partners in private firms. Quite often, as much as 75% of their net worth is tied up in their business.

They feel that they are doing okay and they’re comfortable making high-risk investments in the industry they know so well.

The problem is they’re over-exposed and they have no downside protection.  Their portfolio value swings up and down significantly. They’re often quite leveraged and they do not own a single GIC or bond. They just assume they’ll fund their children’s education out of cash flow.

This family is so accustomed to taking risks, they don’t realize that there is no longer any need to do so. What they should be doing is moderating their risks and securing their future. They may very well be enjoying the risks they’re taking. But what they don’t realize is that, given their age, if they were to lose their money now, they may not have time to earn it back.

A Lot On The Go

These are self-made millionaires in their mid 50’s. They have a lot on the go. They’re very busy. They often have multiple brokerage accounts and yet, they feel over exposed and on the edge.

They’re confidently running multi-million dollar companies but in the back of their minds, there’s a nagging sense that their personal financial affairs are not properly structured.

The problem is they’re so busy doing deals and making money, they’re not aware of how fast they’re spending it. They’re also often over exposed to the market. They’re risking both their current and future lifestyles in the process.

Meanwhile they’re looking for assurances that they can afford to buy that new luxury home and also, retire when they want to.