At WealthChoice, we typically work with purchasers who determine as one of many following:
- Breadwinning girls.
- Enterprise executives & leaders.
- Attorneys.
- Tech executives.
Nevertheless, we additionally know that it may be difficult to actually envision what it’s wish to work with a fee-only monetary planner who deeply cares about your targets, and understands the nuances of your distinctive monetary state of affairs.
On this collection, we’ll dive into every distinctive shopper sort we associate with.
We’ve created the next case research to supply some perspective and that can assist you “check drive” the planning course of earlier than assembly with our crew.
Should you ever have any questions, please don’t hesitate to succeed in out. You can contact our team by clicking here.
Prepared? Let’s dive in!
Breadwinning Ladies | Case Research L
L is in her early 40s, married, and a C-suite govt at a publicly held firm. Over the 15 years we’ve labored together with her, she has modified industries, gotten married, had kids, and relocated states whereas transferring up into a really senior administration function.
Her Want:
L desires to ultimately cease working and transition right into a lower-stress job in an business of her selecting whereas making certain her household continues their present high quality of life lengthy into the long run. She got here to WealthChoice with a number of key questions:
- How can I save sufficient to plan for a profession pivot?
- What’s one of the best ways to completely fund 4 years of in-state school for my children?
- I need to plan to journey yearly with my partner – typically internationally.
- How can I decrease my tax invoice?
How We Helped:
For L, being able to get off the company “hamster wheel” when she needs has been a precedence since we began working collectively 15 years in the past. As soon as we decided her household’s value of dwelling, we might determine how a lot she’d want to avoid wasting and make investments to switch that earnings in retirement.
We guided her on the optimum accounts for these financial savings, making certain she maximized her 401(okay) contributions yearly. Nevertheless, changing her earnings required financial savings past simply retirement accounts, so we opened taxable funding accounts with a growth-focused technique.
L has two younger kids, ages 3 and 1. She and her partner determined to pay for 4 years of in-state school tuition, room, and board.
Our software program tracks present prices at their most popular college, giving us a strong projection. We’ve recognized an reasonably priced month-to-month financial savings quantity and opened 529 accounts for every little one.
When L receives bonuses or inventory awards, we focus on deploying that cash towards her household’s evolving targets, reminiscent of dwelling renovations, relocations, and so on. We reassess priorities to make sure the funds are optimally allotted every year.
Tax technique is essential for L as a excessive earner. We evaluate all her employer’s advantages to make sure she leverages each tax-advantaged choice.
Our agency helps cut back taxes via investments in tax-free automobiles and tax-loss harvesting. We keep an in depth relationship with L’s CPA to debate projected tax liabilities and put aside funds accordingly, particularly round vesting occasions.
The place Are We Now?
L is financially on observe to decide on when to cease actively funding retirement primarily based on her disciplined financial savings and investing through the years. Her kids’s school prices are projected to be coated.
Most significantly, L has peace of thoughts understanding that if she pivots to a different business or lower-paying function, her household will stay financially safe. By implementing a complete tax technique, she retains extra of what she and her partner earn, affording them desired profession and way of life choices.
____
The case examine described above is a present shopper, although for privateness causes we’ve got omitted the shopper title. This planning case examine ought to on no account be construed as a assure {that a} present or potential shopper will expertise comparable outcomes or ranges of satisfaction if she or he engages with WealthChoice for wealth administration providers. Each shopper expertise will differ. Future outcomes can’t be assured.
____
Wish to learn extra of this collection?
Don’t miss our different case research!
