By Deborah Reed
WKTV Managing Editor
deborah@wktv.org
Wyoming-Kentwood Chamber of Commerce businesses have partnered to help local community members navigate individual and family financial needs.
Dinorah Caro Livingston, Regional Vice-President of Primerica Advisors, recently hosted a financial wellness education workshop to help unravel the mystery surrounding financial wellness.
“It’s about providing education,” Livingston said. “The more that people know, the better they can make informed decisions for what they need.”
Education you won’t get in schools
With 20 years operating in the financial arena, Livingston is dedicated to helping people take control of their finances and their future.
“If you want something different in the future, you have to do something different today,” said Livingston.
But Livingston also understands that taking the reins can seem overwhelming.
“Unfortunately, people get scared, and they are scared to ask for the information,” said Livingston. “[But] there are no dumb questions. People can take baby steps to become financially stable,” Livingston added.
Livingston urges people to begin taking those baby steps to avoid a situation where they run out of time or it is too late to put plans in place.
“If you drop them little seeds of education along the way, sometimes it spurs them on to stop dragging their feet,” said Livingston. “And depending on where they are in their lives, the message is heard differently.”
Livingston provides quarterly workshops to the public but also presents workshops for specific groups such as employers, schools and churches.
“We have multiple investment partners who will help us with these,” said Livingston, “We believe education should be free.”
When Livingston met personal family lawyer Rose Coonen of Coonen Law, PLLC, she found that Coonen also focused on educating her clients via relationships and informational workshops.
A partnership was born
With 20 years of estate planning experience, Coonen believes financial planning goes hand in hand with estate planning. Like Livingston, however, Coonen has found that most people are reluctant to take that first step.
“Especially from an estate planning standpoint, it’s important, but not urgent,” said Coonen. “And no one wants to think about it.”
The solution?
Coonen says that she encourages people to think about who they are setting plans in place for, and offers to come alongside them to help.
“We do education pieces to say why it’s important, here is what could happen, let us be of service to you and help you,” Coonen said.
Communication and empathy are key
Both Livingston and Coonen have noticed that the success ratio for businesses is higher when the focus is partnership with families rather than transactional.
“Every family is different,” said Coonen. “Every family has different family dynamics.”
Coonen’s law firm was recently nominated for West Michigan Woman Readers’ Choice Awards – for the third time.
She believes the community has chosen to nominate her firm because she is not the “typical” attorney.
“I do not consider myself a traditional estate planning attorney,” said Coonen. “We are more holistic. We tell clients right from the start that they are not a number, that we come alongside them, not just to get a plan set up, but we stay in contact with them. They hear from us regularly.”
Coonen said her goal is to give families peace of mind.
“We guide families,” said Coonen. “We spend a lot of [time] building those relationships with our clients.”
Coonen has spent hours during the day calling clients to check in and see how they are doing, if anything has changed, and how life is going.
“Estate planning is an on-going process,” said Coonen, adding that the law firm does reviews every two years to make sure a client’s established plan is still current to their needs.
Get rich – slowly
Franklin Templeton Investments Regional Director Mark Everswick has also joined forces with Livingston and Coonen to bring the component of long-term investments to the table.
With an ever-evolving economy, investing can be a puzzle. Everswick provides strategies to help people invest confidently at every age.
Everswick said that patience is key in long-term investing.
“This investing thing is [about] getting rich slowly,” said Everswick, adding that the benefits are seen over a period of time.
The goal, Everswick continued, is not to simply acquire financial stability and retire, but to pass that stability on to family, preserving it for the future.
“An apple a day keeps the doctor away.”
Livingston recited an old saying to help convey the value of consistency.
“That consistency is so important, whether on the legal side or the financial side,” said Livingston. “Sometimes you need a coach to stay on track. It’s never ‘if’ you’ll fall down on the financial mat, it’s a matter of ‘when.’ And when that happens, we are going to be with you.”
For more information about financial services and financial wellness workshops, visit Dinorah Caro Livingston, How Money Works.
To learn more about how to get started on estate planning, visit Coonen Law, PLLC.
Investment information can be found at Franklin Templeton Investments.
