Our client story this month is a tribute to a beautiful vibrant widow, now deceased for nine years. Lois was a client for just over ten years and came to our offices for a consultation a little more than ten years after her spouse died. All of her assets were “invested” in a money market account, suggested by her estate tax preparer at the time of her husband’s death. At the time of her husband’s passing, money market interest rates were yielding 12% and these yields seemed reasonable to her. This investment was also a perfect answer to her investment needs at that time. Lois put her funds in the money market account and forgot about them. Perhaps you know how the story continues. Money market rates dropped significantly over the next years and by the time she came to Colman Knight they were around 3% (gee that seems great now, huh?), much less than the returns she could obtain from other investment vehicles. While she was complete with her grieving when she came to see us, she had been living in, what we call, investment limbo. Investment limbo is the space of non-planning where a person lingers paralyzed in non-action.

Over the years, Lois became excited about her investments and financial affairs. She was fully engaged in her whole life up until her death. Once she left her state of limbo and embraced her life, recognizing the connection between her investments and the life she wanted to lead, her relationship with money and finances blossomed and served her whole well-being.

We recall several fond memories with Lois, dubbed “the Sticker Lady” by our young children. She would bring Katelyn and Knight fun stickers during office meetings. Our kids frequently asked if “the Sticker Lady” was coming; we learned to share our weekly schedule with the kids when Lois was scheduled. Lois shared her financial legacy with the Jimmy Fund, having a personal connection to the cause. Our annual review meetings always included a discussion about her philanthropic desires, why they were important and her legacy. The Jimmy Fund, and the mission of this organization, mattered deeply to her. On one occasion when she was in emergency care, she asked her daughter to reach out to us and let us know about her situation. Visiting her in the hospital, Lois stared in the eyes of her daughter and said, “See, now you know why they are my trusted advisors”. After Lois sold her home and moved to a retirement community, she asked for help organizing her paperwork and files. While we easily managed the organization, I recall a stunning afternoon listening to a life well-lived, a wise elder expressing the joys of her life, including: a long loving relationship with her husband, four children and ten grandchildren, all living unique and interesting lives, good friends, and many simple pleasures.

Thank you, Lois, for the privilege of serving you for a small portion of your long life. Your openness, trust and appreciation enabled us to serve you well by developing and implementing skillful financial strategies aligned with your life aspirations. Simple. Clear. Satisfying. Mission in Action.