GAME OF DRONES

Without a Financial Plan it’s Just Luck
It’s Not What You Make; It’s What You Keep
by diane e. alter
Government studies reveal that
roughly 90 percent of Americans
will run out of money in retirement.
Not because they’re living longer,
because they’re saving less. Indeed, according
to a recent survey by Bankrate,
more than three-fourths of Americans
don’t have enough money to pay their
bills for six months. Moreover, half of
survey respondents admitted they had
less than three months’ worth of expenses.
And, more than one-quarter have no reserves to tap in
the event of emergencies.
“To be sure, it’ not what you make; it’s what you save,”
Michael J.P. Fitzgerald, president of Fitzgerald Partners told
The Suit. “While you can build wealth relatively quickly
by say going to the bank for a loan, that kind of wealth is
temporary. Growing wealth takes time. That’s the reason I
created a specialized approach to retirement called Wealth
by Design.”
A fee-only investment and wealth management services
firm, Fitzgerald Partners specializes in helping pre-retirees
transition into a 5-10 year retirement plan. Additional areas
of expertise include real estate investment planning, educational
planning, tax planning, asset allocation and retirement
accumulation planning. Based in Houston, the firm
services clients across the nation.
“We believe a financial plan must be created to determine
a client’s needs and goals. Then, we work on the best means
of helping clients achieve them,” Fitzgerald explained.
A Certified Public Accountant, an accredited Personal Financial
Specialist, a Certified Financial Planner, and boasting
an impressive resume that not many in the financial
world can rival, Fitzgerald is frequently called upon for his
expert insight from myriad media outlets such as Fox Business
News, Forbes, MSN and Bankrate.com. He is one of the
country’s premier tax experts.
His love of country lead him to an eight year stint in the
military and to establish a number of programs to benefit
veterans.
By looking beyond traditional financial advisory services,
Fitzgerald has benefited many.
2500 City West Boulevard
Suite 300
Houston, Texas 77042
www.fitzfp-llc.com
COLLABORATIVE DIVORCE:
LEAVING FAMILIES IN CONTROL
In a litigated divorce, most of the communication between
parties takes place through legal motions and
correspondence between counsel, making it adversarial
by nature. “Those cases certainly out there,” says Louise
McGlynn. “And while there are cases that are litigated, our
goal is to encourage clients towards a negotiated approach.”
In the more traditional adversarial form of divorce, “winner
takes all” means that everyone ultimately loses.
The firm of Freshman & McGlynn listens very carefully
to the wishes of its clients. In most cases the clients want
to avoid the courtroom, but if a litigated divorce is on the
agenda, they have years of litigation experience and are aggressive
in the courtroom. Their goal whenever possible, is
to make the divorce process less painful, less contentious
and easier on the entire family, through negotiated settlement
processes.
The firm sees collaborative divorce as one of the preferred
options. As part of the collaborative process, both
parties consent not only to the divorce but also to a mutual
desire not to waste all of their assets in seeing it through. In
turn, both parties retain more control over what happens
to their children, assets and even their future relationship.
Opposing lawyers and clients sit together at a table, with
both sides pledging to hammer out an agreement. “I say to
clients that if you want to dance at your children’s wedding
by rich monetti
with your former spouse, this is
the process you use,” says Mc-
Glynn. Another form of divorce
that fits with McGlynn's philosophy
is the mediated divorce. A
lawyer – mutually agreed upon
as a neutral third party – advises
the divorcing parties on the confines
of the law, defining the parameters
and helping them arrive at a consensus. In other
words, McGlynn says, “I facilitate the conversation.”
But it all does take some doing. Given the many factors
involved, it takes boundless creativity to superimpose the
strictures of the law onto the emotional human component.
McGlynn says, “These are people’s lives. You can’t regulate
emotion and so the challenge is to keep the emotion in
check.”
Once these hurdles are cleared, “cashing out” the shared
household means that the worst has passed. Leaving everyone
with a sense of enthusiasm means the collaboration
worked and that is what matters most – especially when an
effective parenting plan puts the children first. As McGlynn
says, “It’s very satisfying to help a family move forward.”
www.freshmanmcglynn.com
THE SUIT MAGAZINE p.55