Life Transitions
Jacquelyn & Michael
42 and 39 years old
Employed full time
Jacquelyn and Michael want to make funds available to enhance the lives of their family while ensuring that their children stay motivated and manage their financial lives responsibly.
Key Concerns: Educating their children about the importance of budgeting, saving, and living within one’s means, teaching them about investing basics, making them aware of potential scams and threats to wealth preservation, and sharing personal financial and philanthropic values.
Jacquelyn and Michael have worked hard over their careers, providing for their family and building an investment portfolio. As their retirement approaches, Michael and Jacquelyn have decided that they would soon like to make a portion of their wealth available to help enhance the lives of their children and those of future generations. Knowing that family wealth tends to evaporate by the third generation, Jacquelyn and Michael were concerned about whether their children will be prepared to steward the family’s financial resources. They would like to instill in their children the financial habits and investment education recommended to leave a legacy.
Versant developed an educational program for Jacquelyn and Michael’s children that was tailored to their ages, knowledge levels, and Jacquelyn and Michael’s values. The program consisted of multiple interactive “modules,” each focusing on a key area of personal finance, including goal planning, budgeting, investments, philanthropy, and debt management.
Michael, Jacqueline, and the children attended the modules over several months. The educational sessions provided a venue for Jacquelyn and Michael to connect with their children on money-related topics. Michael and Jacquelyn had an opportunity to share their own experiences and thoughts regarding each topic, in addition to the content prepared by Versant. The experience helped the children develop a foundation of knowledge from which Jacquelyn and Michael could discuss their plans for sharing their wealth, and the expectations they have for their children going forward.
This case study is fictional and merely presented as an example of the type of services provided by Versant. The case study presented is not indicative of any investment recommendations and should not be interpreted as a testimonial by any client. You should not assume that the results are typical or that you will have the same results.