Like most people, the holidays brought back to me a lot of old photos and memories. I am particularly fond of the Christmas seasons we spent with my mother’s parents.

I’m not sure my Grandfather would have ever stopped working for the Chicago Transit Authority (CTA) had he not been subject to mandatory retirement. He rose to several positions of responsibility revolving around safety. This put him in touch with dignitaries, politicians, celebrities and even some royalty. We have seen him in many old news photos with other CTA officials during challenging times for the CTA and the city. 

He was a Navy man that fought in the Pacific during the war. He would often tell us funny stories about those years and his buddies, but didn’t like to talk about much that was combat related.   

The most important job he did, however, was raising my mother and my uncle. Nothing seemed to matter more to Grandpa than family. That’s probably part of why he was married for over 60 years.  When asked about the key to a successful marriage, my grandmother quipped, “You have to let the fella think he is in charge.” Grandma helped keep him and the whole family grounded. No easy task since Grandpa was the most energetic man I’ve ever known.

When I was 19, he took a friend and me golfing and walked us into the ground. He kept taking us on shortcuts through the woods to replay holes. He was in his mid seventies at the time, but we must have played 50 holes that day. He was like that almost his whole life.

During his last few years, he was forced to give up his car, his home, his hobbies, his independence and his faculties. He kept his sense of humor and quickly became one of the most popular residents at the home he and Grandma moved into. Still, it was weird and unsettling to see anyone caring for him when he was always the one doing the caring. 

About eight years ago, Grandpa had an episode that brought the entire family to Chicago. We  sat together and my uncle explained to my Grandmother that her husband was not going to recover. I will never forget the look on her face as she realized it was the end. As the tears welled in her eyes, they poured from ours. The next day, we met for lunch and she asked what was keeping Grandpa. She had no recollection of the prior day’s conversation and we all relived the gut-wrenching event again. Money is worthless at a time like that.

If we are to be effective at helping clients age with dignity, I believe it is important to get to know their stories and their values as much as their finances. Many of my clients have led fascinating lives and many older clients still are.

More and more financial services firms are working to position themselves as the advisors of choice for the retiree. More is being written about planning techniques applicable to retirees and retirement income. Software continues to evolve to better address distribution of assets.

Some of the advertising is comical. Jagger may be able to pull it off, but most retirees are not going to spend their retirement reliving their youth playing in a rock band. I live in a community on the Atlantic Ocean full of lots of retirees and I assure you, the beach is not covered by fit, grey haired, laughing couples running hand in hand through the waves. 

First « 1 2 3 » Next