Nancy J. Hite, CWS®, CFP®, AIF®, ChFC, CLU
“I understand that most people are afraid of running out of money before they run out of time,” says Nancy. “I share with clients that there are really only three things they can do with money: spend it now, spend it later, or spend it never®. Most people simply do not realize how much they are spending every day.” To plan for the future and “have an umbrella ready for a rainy day” as Nancy likes to say, she helps her clients take an honest look at their current financial affairs and fine-tune what they are spending now so that they can enjoy the future they desire.
As an Accredited Investment Fiduciary® (AIF®) Nancy has been certified to follow a fiduciary process with her clients’ best interests at heart. Applying objective standards for evaluating and recommending appropriate investment options and products.
“Longevity has increased dramatically to where it is not unusual to live into your 90’s. Maybe we need to ask the question: Is retirement a 21st-century word? Once people understand that they will have a longer life, and therefore their money has to last longer, they are not disappointed that retirement may not fit into the modern financial world.” THE RETIREMENT MIRAGE, TIME TO THINK DIFFERENTLY.
Much of her firm’s client base is composed of people aged 40 and over, who’ve worked as business professionals, medical professionals or small to midsize business owners, and have investment portfolios and are concerned about future income.
Nancy’s Passion for Planning
Helping people is my passion. I love what I do. I want to get to know the person because all my clients become my friends.
“When I meet with a new person, the first thing I want to do is to get to know them. How many children and grandchildren do you have and where do they live? What makes you happy and what is your positive place that takes you out of your negative mood? What are your hobbies? Do you have any major health issues? Do you like to travel and visit new places? I want you to think about your future income. What is important about money to you?
Eventually, “I take a look at the portfolio they come in with and review their goals. What is the money for? Do you need income, or growth, or legacy or health care? At a later meeting, if we have some problems we work together and if necessary, together we do some behavioral coaching, step-by-step. This helps people adjust to a different mindset about money and their future -similar to approaching a new recipe.”
One of Nancy’s favorite expressions is, K.I.S.S: “Keep it Simple, Sweetie.” Because cooking is a hobby she enjoys, she uses the analogy of breaking down the financial planning process step-by-step, as one does with a recipe, so that it is not overwhelming. “When I begin working with a new client, I take a look at the portfolio they come in with, review their goals and then together we do some behavioral coaching, step-by-step. This helps them adjust to a different mindset about money and their future - similar to approaching a new recipe.”
“Together, we develop a new recipe for their financial future,” she says. We focus on future income and financial health. “Once we get the basic financial recipe in place with provisions for unexpected risks, we can always tweak it and spice it up or tone it down, depending on what works for that person.”
Nancy goes on to explain that most people in this demographic will need to plan for what she calls an “encore” career. “I coach them to develop a hobby they love that will keep them mentally and physically active and earn some additional spending money.”
“It is equally important for people to have a CERTIFIED FINANCIAL PLANNER™ (CFP®) as it is for them to have a medical professional,” adds Hite. “In this way, they will have a coach for their financial health and a coach for their medical health to help increase the likelihood of quality of life for the future years.
Securities and investment advisory services offered through Royal Alliance Associates, Inc. member FINRA/SIPC. Royal Alliance Associates, Inc. is separately owned and other entities and/or marketing names, products or services referenced here are independent of Royal Alliance Associates, Inc.. The Strategic Wealth Advisor® LLC 1200 North Federal Highway Suite 200 Boca Raton · FL 33432 · USA 561-997-8800 The Strategic Wealth Advisor® LLC is independent of Royal Alliance Associates, Inc.