As a financial planner, I meet all kinds of interesting people with fascinating stories to tell. I guess I am a lucky sort. In Florida, you get a lot of snow birds who are escaping winter in Canada and the northern part of the US. They come and go but certain ones stick in my mind. Above all, they love water recreation and most of all the sun. Of course, there are hurricanes and storms to fear; but most of the time the weather is nice and attracts people from far and near.
I counsel people on retirement, but not all my clients are old. Younger folks like to invest in growth stocks and middle aged ones like the income they can get from bonds. I choose what I think is safe and prudent and appropriate. I get good results and return business all the time. Creating a balanced portfolio is my forte. If they are ecologically minded, I put in relevant equities. I appeal to each person’s interests and values. They all have different needs. Sometimes I set up a trust. I get to know the families who want to be in on our sessions.
One interesting client made a huge profit off an app he created. Apps are surefire winners if you are on the right track. There are literally thousands and there is always room for more. Find something people will find easy and useful. He did. Now he wanted to invest for more profit as if he needed it. He had several children and wanted a lasting legacy to bequeath to them. It was years in the future so he had time to let his stocks rise. After he put together a strong portfolio, he wanted to either retire or just take a lot of time off. He loved the water and wanted to travel the world seeking coastlines where he could use his stand up paddle board to his heart’s content. He might even sail extensively but the paddle board would always be along.
I loved this client as he was a gold mine for my business. It would take me months to construct his portfolio and even more to monitor it and update as needed. I know that I can find good places for his money that will keep him happy and sleeping at night. We want to minimize losses and maximize gains. That’s my job and the purpose of investing for anyone. Because he wanted beneficiaries to his account, we couldn’t take big chances. He also needed income to use while traveling. Who knows how long he would be away. It could be indefinite. We vowed to stay in touch so I could inform him of his investments’ status. He could paddle day and night, but had the obligation to pay attention to the market. He left shortly after we met for the last time. Over the months and years, his account grew in size. I reinvested for the future.