The third stage in a widow’s financial journey is called the passage or growth stage. In this phase, the widow adjusts to new conditions, designs her new life and explores possibilities. The widow is beginning to find joy in her life again. She is adjusting to her new situation.
In my previous article, I discussed the need to understand what a widow is experiencing, how she feels, and how you can build rapport during the grieving stage of widowhood. You will often meet a widow after she has experienced loss, but there may be a time when you will begin working with her and her spouse prior to death. Assisting a couple through this life transition can be challenging but also rewarding. According to a widely cited statistic, 70% of widows fire their advisor after their spouse dies. You can prevent this by helping the couple prepare before the husband dies.