Client Success Stories
Have you ever thought about working with a financial coach, but you're afraid to make the investment?
If so, you're in the right place because today I'm going to share with you three client success stories. You’ll see how I can help you remove the financial anxiety from your life.
At the end, you’ll learn the #1 question you should ask yourself when selecting a financial coach.
Client A: Living Paycheck-to-Paycheck & Unable to Save Money
When Client A came to me, she was struggling to control her expenses. She was living paycheck-to-paycheck. For the longest time, she had tried to control her spending, but nothing worked. She felt,
She constantly beat herself up because she couldn’t control her spending and feared she could never build a savings account. She thought she needed to be more disciplined, but no matter how hard she tried… nothing changed.
The first thing we did when we started working together was analyze her spending habits. We took a deep dive into her current actions, behaviors and habits.
I learned about her mindset, beliefs and limitations with money. I learned what’s important to her about spending and where she’s spending her money.
This enabled me to discover the missing connection here in her financial struggle. We discovered that she spent her money in three main areas: slimming, massages and travel.
Expense #1: Slimming
Why? She says she likes to purchase slimming sessions, so she can talk to the therapist and learn about the newest slimming techniques. She had been seeing this therapist for quite some time, but she hadn’t achieved great results.
Expense #2: Massages
Why? She likes to get massages because they make her feel better. She likes talking with the massage therapist, her friend of 10-years. She also gets to catch up on life with an old friend.
Expense #3: Traveling
Why? Before COVID-19, she would like to travel around with her son or relatives. The best part was the time they spent bonding together.
Do you notice a common theme with her spending habits? In each main category, she’s spending money to have a chance to connect with people.
In the slimming sessions, she gets to learn from the therapist.
In the massages, she gets to share her life story with a friend.
In traveling, she gets to bond with her loved ones.
A light bulb went off in her mind when we discovered the common denominator for all of her spending. Her motivation to spend fulfills her true need: the need for connection.
Within her main expenses, she’s getting the chance to learn, talk and relate. This is the real reason of her spending. It’s not for the actual slimming session, massage or sightseeing. It’s the chance to connect.
Now, she’s finding activities that fulfill her need for connection without having to spend money. She’s making a conscious effort to find activities that satisfy her true need.
And she’s finally able to save money!
Exercise A: Determine your three main spending categories. What are your real intentions with these purchases?
Client B: Age 50 & Worried About Retirement
Client B was 50 years old and afraid she didn’t have enough for retirement. In Singapore, people retire at age 62. Being only 12 years away from retirement, she was anxious that she didn’t have enough.
She was constantly worried about the future. She didn’t know where to start. She had no clue how to assess her current financial situation—let alone plan for retirement.
She began feeling hopeless that she would have a happy retirement. She lacked clarity on the present and feared the future.
When we began working together, the first thing we did was assess her current finances. We had to figure out where she was at right now. We took stock of her:
Life insurance (term plan + paid out money)
She gained clarity immediately after we completed this exercise. Now, she knew the truth of the present situation and the weight of the unknown was less of a burden.
The truth of the situation revealed that she had plenty of assets. For the first time, she actually knew her individual net worth.
Now that we knew where she was at (point A), we had to decide where she wanted to go (point B).
Point A → Point B
I asked her: “How do you want to live your life? What kind of retirement do you want?” She said she wanted a simple retirement with a low-maintenance lifestyle. This became point B.
Now that we knew point A and point B, we could create the plan.
Fortunately, Client B was a natural saver. She had plenty of money in her savings. Then, we consolidated the rest of her assets. We discovered she had more than enough assets to support a simple retirement.
*cue light bulb moment*
Her mind was swept with a wave of relief.
Now, she realized that she actually had enough money to retire at age 62. Her mind rested with peace knowing that she’ll be well taken care of when she’s ready to retire.
When she took control of her finances, she eliminated all anxiety about her financial future. Now, she can sleep peacefully at night knowing that she’s taken care of and can enjoy the present moment.
Exercise B: Determine your own net worth. Do you have enough to live a simple retirement?
Client C: Hates Her Job & Wants Passive Income
To say Client C “hated” her job is an understatement. She dreaded going to work every day. She had to drag herself out of bed knowing she had to go to the office. She felt angry, stuck and unhappy.
Although she hated her job, she couldn’t afford to quit. She couldn’t support herself without this income, and she was struggling to come up with a solution.
When we began working together, we assessed her current financial situation to determine point A. We calculated her:
Then, we figured out how much she needed in an emergency fund (Click here to learn more about emergency funds and how to calculate how much you need to set aside). Everyone needs a safety net of funds in case of emergencies.
Finally, we considered her investment strategy. We determined her risk appetite and selected an instrument she liked the most.
Disclaimer: I'm a life coach by profession, not a financial consultant or investment advisor. I won’t tell you what investments you should specifically buy. I’ll help you evaluate all of the instruments to see which one is best for you.
This is better for you because I don’t make a commission off of the financial products. I have no vested interest in the sale of a financial product. My only vested interest is in helping you make the best financial decisions, suitable to your lifestyle and goals.
Just know that every investment instrument always has pros and cons. Always. It’s important to figure out which investment instrument is most suitable for you in your situation.
For example, some people have a higher risk appetite that yields a higher return. Some don’t. It all depends on the person and the situation.
For Client C, I referred the best investment instrument for her risk appetite. Then, we came up with a cash flow projection for the remaining year.
Suddenly, the anxiety disappeared as she gained clarity on her financial plan for the whole year. Now, she could take action to reach point B.
Client C continues to go to work every day and uses this income to begin her investing journey. She’s well on her way to generating passive income.
She’s doing quarterly and half-year reviews with me to analyze her portfolio. In these reviews, I’m helping her analyze the growth of her portfolio to see if it fits her overall goal.
Note: When you want to invest and generate passive income, always remember to look at the basic intention of your action. Determine whether it fits into your overall financial goals.
Since Client C has started investing, she’s beginning to see results. The success of her investing has actually removed a lot of stress and frustration from her current job. It’s made her job more tolerable.
You could even go as far to say that she’s happier at work. Now that she knows it’s not her only source of income, she’s able to relax more each day. She’s beginning to build her passive income stream through investing.
Now, she can even set up her own company and can use her passive income to support it. She’s well on her way to financial success and stability.
Exercise C: Determine which investment instrument is best for you. Ask five investors you know and get a good understanding of their investing experience. Which one sounds best for you?
Finally, the #1 question you should ask yourself when selecting a financial coach:
“Will this financial coach take into account MY unique personality, habits and preferences?”
Most financial coaches will prescribe you a generic solution that everyone uses in the industry. However, this will set you up for failure if you don’t take into account your unique personality and habits.
One size does NOT fit all.
As with life, your financial intentions must align with your explorations. A good coach will understand you, not impose upon you. You only have one life to live.
Are you going to live it trying to squeeze into someone else’s box?
Are you going to live it anxious and afraid about the future?
Are you going to live it unhappy each and every day?
Or are you going to take action to create the life you want? This is your life. Live in the present.
🌟 If you’re ready to become financially free, please visit ExpenseConciergeSolution.com to book a 15-min consultation with me.
If you’re still considering whether you’re ready to work with us, you can download our free guide The 5 Critical Steps to Financial Agility.
Break free from worry and achieve financial security.
Become financially free! 💸