Widowed in 2011, this 55-year-old client had never purchased a car on her own. Her husband had always handled the finances — there had simply never been a need for her to do it herself. Now, on her own for the first time, a major purchase loomed ahead of her.
Before anything else, Lee reviewed her long-term investment strategy. The portfolio her husband had left behind had to support her for the rest of her life. After careful analysis, the amount was deemed prudent — and Lee gave her his honest answer: yes, she could afford it.
What followed was something that doesn't appear in any investment mandate. Lee and her CPA, Walter Troxel, coached her on how to research vehicles, how to gather data, and — critically — how to negotiate at the dealership. He offered to accompany her. She declined, determined to do it herself.
"Can I really afford it, Lee?"
— Client, before her first solo car purchaseArmed with research and a single, powerful tactic — "I need to check with my advisors" — she walked into the dealership alone. She held firm every time the dealer pushed. She used the phrase whenever she felt pressure. It worked. The dealer relented. She drove home in a wonderful new car, at a rock-bottom price, and with something no portfolio return can provide: the confidence of knowing she could handle it on her own.