Is No Investment At All

An 87 year-old long-time client recently sold his house, moved in to a smaller retirement community unit nearby, and wanted to add to his investment portfolio. He was comfortable financially, but not excessively so. We went to the same church; he was a brother in the Lodge.

As we talked over lunch, he revealed that all of the proceeds of his house sale went to purchase the new house, free and clear. His plan was to borrow against his new home at low rates, give the money to me to invest at the higher return he had experienced with me over the years, and pocket the difference.

This was not what I expected. Borrowing to invest, especially at an elderly age where one may need the money unexpectedly, is asking for trouble. It just isn’t worth it.

I gently explained that he was fine as he was, and to enjoy the mortgage-free home and the financial freedom his life’s work had given him.
-Lee

And New To Atlanta

Lee gave a talk about VA benefits in his Parc Alpharetta building, at the request of a client. The client told Ben C. — a widower recently moved to the Atlanta area from New York to be near his adult children — about Lee personally arranging, retrieving and depositing a large check, in a pinch, when the client was out of town and HAD to write a check. He spoke of Lee’s “old fashioned personal commitment and integrity”.

Ben C. called Lee at 678-576-4838. After a visit to his home, Lee found that he had no will, his trust had been set up in error, and his assets were at risk. It would have been a nightmare for his children, should anything happen to Ben C. Also, his assets were inefficiently invested, and his advisors ignored him. Finally, discovering Ben C. to be a veteran, Lee then knew he could facilitate a VA pension – that Ben C. had not even known about — and bring in over $1,500/month tax-free, in the near future.

He signed up as a client that day. Arranging a 30% discount with a trusted local attorney for Powers of Attorney and a new Georgia will. Lee personally chauffeured Mr. C. to the attorney’s office. Assets were realigned to provide far greater benefit. Mr. C. and his children now have someone local to advocate and assist in any important matter, to them a huge relief. They are secure.