This Advisor to Client series helps clients learn about the elements of financial planning through the examples of their favourite fictional characters.
Whether it’s child support, estate planning, budgeting, succession planning or something else, there’s a lot of real-life lessons to learn from the troubles of our favourite fictional characters.
Tyrion Lannister of Game of Thrones
Disgraced nobleman Tyrion Lannister is one of the most brilliant characters in the fictional book and TV series Game of Thrones. But now that he can’t access his family’s fortune, how can he secure his luxurious lifestyle? Read more.
Caroline and Max of 2 Broke Girls
Caroline and Max are the majority owners of a diner but have been struggling to kick-start their cupcake business. Advisor to Client asked two business planning experts how the friends can structure their two businesses for success. Read more.
Jake Peralta of Brooklyn Nine-Nine
At Brooklyn’s 99th precinct, Jake Peralta is known as a perpetually broke man-child. Advisor to Client asked two experts to explain how Peralta can grow up financially.
Part 1: Easing his debt “It’s not a good idea to borrow money from friends, says Ottawa-based financial planner and money coach Janet Gray. ‘That’s not a good money strategy but it’s also not a good friend strategy,’ she says.” Read more.
Part 2: Adulting “Once Jake finds the motivation to change his money habits, he needs to do an inventory of his current financial situation.” Read more.
Nick Viall of The Bachelor
This season, 30 women are vying for Viall’s heart on The Bachelor. Many fans are tuning in with a sense of schadenfreude, but if Viall meets his wife, he’ll have plenty of financial worries to add to his fears of heartbreak. Read more.
Claire Dunphy of Modern Family
Part 1: Succession and contingency plans “Though Claire, who is in her 40s, is years away from retirement, there are several reasons why creating a succession plan for the family business is a good idea. First, Jay is still the owner of the company and Claire is the figurehead; since Jay is about to turn 70, there’s a shorter time horizon to determine how his shares should be allocated.” Read more.
Part 2: Tax strategies to protect family businesses “An estate freeze for Pritchett’s Closets and Blinds would work by creating two classes of shares in the company: common shares, which can change in value, and preferred shares, which have a stable value.” Read more.
Dr. Mindy Lahiri of The Mindy Project
Part 1: Custody and child support “If you have two people in equivalent careers, they shouldn’t have to pay each other spousal support. But even though it starts out that way, having children together and assuming the more ‘traditional’ role can really have an impact on her future earning abilities.” Read more.
Part 2: Estate planning “When creating an estate plan to protect Leo, lawyer Sandra Jackson says Mindy’s biggest concerns should be life insurance and a will.” Read more.
Part 3: Cash flow and education savings “Assuming Mindy enrolls Leo in private grade and high school, and that Leo is as smart as his parents and attends university at age 18, Laing recommends both an in-trust-for account to save for private education, and an RESP to save for postsecondary expenses.” Read more.
Look for more financial advice for your favourite characters, coming soon.