Sharon's Case Studies
RETIREMENT
WHO IS CLAUDIA?
SHARON: Intense, curious and energetic, Claudia (not her real name) is a "third stage of life" success story.
CLAUDIA: I’ve retired, but I’m busier than ever. People marvel at my stamina and vitality. But the financial part of retirement is no picnic. My closest friends know how much stress I feel when it comes to my finances. I thought I’d have enough income to do all the things I didn’t have time to do when I was working. But I have to face the fact that I’m spending too much.
There was a time in my life when I had to make do with little money. I promised myself I’d never feel deprived like that again. But now I’m unconscious about what I’m spending—and that’s not a good place either.
SHARON: During our pre-meeting phone call, we zeroed in on Claudia’s big question:
How do I pay off my debt, live within my means and not feel deprived?
SHARON: Intense, curious and energetic, Claudia (not her real name) is a "third stage of life" success story.
CLAUDIA: I’ve retired, but I’m busier than ever. People marvel at my stamina and vitality. But the financial part of retirement is no picnic. My closest friends know how much stress I feel when it comes to my finances. I thought I’d have enough income to do all the things I didn’t have time to do when I was working. But I have to face the fact that I’m spending too much.
There was a time in my life when I had to make do with little money. I promised myself I’d never feel deprived like that again. But now I’m unconscious about what I’m spending—and that’s not a good place either.
SHARON: During our pre-meeting phone call, we zeroed in on Claudia’s big question:
How do I pay off my debt, live within my means and not feel deprived?
CLAUDIA'S MONEY DANCE EXPERIENCE
CLAUDIA: The first meeting with Sharon began with the difficult conversation about cutting expenses and my feelings of being deprived. Then Sharon created a chart of fixed and discretionary expenses that helped me focus on my spending habits. After numerous iterations and serious thinking, we came up with a budget that balanced my needs and wants and a debt repayment plan. Once I saw that I could realistically pay off my ballooning credit card debt, I was inspired to keep to my budget. Making a switch from a credit card to a debit card wasn't easy, but it kept me focused on fulfilling my spending commitments. I scheduled weekly financial appointments on my calendar to do the tasks that need to get done. As the months went by, I continued to meet with Sharon for encouragement and problem solving. I'm gradually making changes that shift my thinking a feelings about my money life. Sharon says I'm becoming wiser.
CLAUDIA'S UPDATE
SHARON: Claudia is thriving. She still pays attention to her spending habits by remembering to ask when contemplating a purchase, "Is this a NEED or a WANT?".
SHARON: Claudia is thriving. She still pays attention to her spending habits by remembering to ask when contemplating a purchase, "Is this a NEED or a WANT?".
Sharon Cox, CFP | 650.722.2791 | sharon@themoneydance.com
