Shepherd Wealth & Retirement - October 2018








Your Life Needs a Safety Blanket

A few weeks back, I met with two clients on the same day who had both recently lost their husbands. A week later, another client and a good friend I’ve known for over 20 years tragically lost his life in a bike accident. As I reflected on these events, I thought again about how these life-altering occurrences relate to our finances. I’ve come to realize that how we think about asset protection is just as important as growth. So much of the conversation surrounding money management is focused on building wealth, but what about protecting it and dealing with life’s adversities? Having a “just in case” plan for these moments is tremendously helpful, reassuring, and necessary. To put this in perspective, let’s reference the exercise we focused on last month. If you’re setting goals in five-year increments, is there a “just in case” plan on that timeline for the insurance, car insurance, life insurance, or long- term care insurance for some of those “just in case” issues. Saving for a lifetime, investing, and striving are all about having “enough” at some point. But here is what is unplanned for or maybe not discussed: “He/she handled all the yardwork/handyman tasks/car repairs/bills/ unexpected and unhoped-for adversity? Just in case … People use homeowners

shopping, etc. I wish I could discuss all of these important things with them.” When you lose a loved one, your entire life paradigm is completely torn to shreds by the complexities of loss and the burden of unpredictable emotions.

cancer herself. And now she is fully responsible for picking up the pieces and learning the finances. I’m glad we can help her. Without a “just in case” plan, processing grief is made even harder because you also have to worry about money. Working in wealth management means we help with your “just in case” plan by maintaining assets and prioritizing your financial well-being. But a “just in case” plan is not all that there is that you should be working on for your life. Eating right, exercising, and having fun should all be a part of your life’s preventive planning. Muscle mass is a key indicator for men living longer. 50 percent of people who break their hip die within a year because their mobility is now limited and sickness can lead more easily to pneumonia. Staying strong and confidently mobile is important for your health. Health complications and declines make your “just in case” plan even more important. The best “just in case” LIFE plan may come from a new quote I just found: “Set peace of mind as your highest goal and organize your life around it.” –Brian Tracey -Dave Shepherd


I just celebrated our 38th wedding anniversary. I have no idea what it’s like to go through life without my wife by my side. The other day, I spoke with a woman who had been married for almost 56 years, and when she lost her husband, she lost half of herself. While one new client was dealing with the fallout of her husband’s cancer, she was diagnosed with ENTIRE LIFE PARADIGM IS COMPLETELY TORN TO SHREDS BY THE COMPLEXITIES OF LOSS AND THE BURDEN OF UNPREDICTABLE EMOTIONS.

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