Helping military and federal government families is a special niche, one that requires some specialized knowledge and a level of empathy that not too many advisors can showcase. Their needs are specific and specialized, and the advisor’s skill set must follow suit to serve them well. Kate Cote has developed a practice around these skills and knowledge, and her clients are as loyal as can be as a result. Don’t miss this fact-filled episode on niche practice development as its finest.
Kate Cote, specializes in helping active and retired military families transition to the private sector and federal government employees navigate towards retirement. Kate is the owner of Red Clover Financial Planning, an independent financial advisory firm that offers its clients a personalized holistic approach to financial health and personal happiness that is accessible no matter where life takes them. Kate has over 20 years of experience in the financial service industry and is a certified financial planner. She is committed to delivering financial plans that serve as a comprehensive action-oriented roadmap. As a military spouse and after years of experience helping government employees, Kate is well-versed in the benefits and challenges employees in these areas face and desires to help them maximize their opportunities to live their best lives now.
Their benefits really put them in a position where they can retire early, but definitely planning has to be done around that because usually the pension isn’t enough to fund their lifestyle when they retire. So, you know, you have to build up assets that can be accessible without penalty or create other passive streams of income so that they can do it . . . They have the pension, which is huge. It can be quite significant amount of money. And then the other thing that helps make it possible to retire early is the healthcare benefits that they receive. Military can continue with Tricare and government employees can continue to pay the employee amount for the health insurance that they have, which is quite a bit less than what you would have to pay out on the open market or even for a supplement plan when you go on Medicare at age 65.Kate Cote, Owner, Red Clover Financial Planning