Opportunity
A newly retired client, a divorced woman, recently celebrated her 70th birthday. The IRS sent her a tax bill rather than a birthday card.
Solution
Our client had not realized that she had this retirement account, never mind that she needed to take a Required Minimum Distribution. When the IRS sent her a notice, she took it to one of our advisors who untangled the issue. The retirement account, previously held jointly with her ex-husband, had not been transferred per court order, into her name by her prior broker. We addressed the problem just before year-end, helping her avoid a $7,000 tax bill.
Outcome
Our client now understands the importance of knowing her current financial account details and obligations. She also knows that she has a judgment-free resource in her advisor. She meets with her advisor regularly to ask questions and review her financial plan and has become an informed, confident investor.
Next Steps
Learn how Greenwood Capital’s comprehensive and personal approach can help you achieve your unique wealth goals as you navigate this new journey.
Women & Money: Taking Charge of Your Financial Future
Women face many unique financial challenges throughout their lifetime, yet today, women have never been in a better position to achieve financial security.
In our Women & Money Guide, Melissa Bane covers those unique challenges and 6 steps to take charge of your finances and ensure your financial future.
Every investor has a unique story. Your challenges and results may differ. If you would like to request a consultation meeting to discuss your situation with one of our consultants, you may request a meeting here.
This example is inspired by real client scenarios; however, personal details and specific circumstances have been altered to protect client privacy. These examples are for illustrative purposes only and should not be viewed as testimonials or endorsements of our services. Recommendations were tailored to each client’s unique circumstances based on personal information gathered at the time. Due to varying circumstances, the individuals referenced may no longer be clients. Clients are not required to implement recommendations: outcomes will vary based on individual circumstances and whether recommendations are followed.
Melissa D. Bane
CPA, CFP®, PFS®, ChFC
Senior Client Private Advisor
Brian L. Disher
CFP®
Director of Wealth Management
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