At WealthChoice, we typically work with shoppers 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 really 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 scenario.
On this sequence, we’ll dive into every distinctive consumer kind 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.
When you ever have any questions, please don’t hesitate to succeed in out. You’ll be able to contact our crew by clicking right here.
Prepared? Let’s dive in!
Breadwinning Ladies | Case Examine L
L is in her early 40s, married, and a C-suite government at a publicly held firm. Over the 15 years we’ve labored along with her, she has modified industries, gotten married, had kids, and relocated states whereas transferring up into a really senior administration position.
Her Want:
L desires to ultimately cease working and transition right into a lower-stress job in an trade of her selecting whereas guaranteeing her household continues their present high quality of life lengthy into the long run. She got here to WealthChoice with just a few key questions:
- How can I save sufficient to plan for a profession pivot?
- What’s the easiest way to totally fund 4 years of in-state school for my youngsters?
- I wish 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 wishes has been a precedence since we began working collectively 15 years in the past. As soon as we decided her household’s price 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, guaranteeing she maximized her 401(ok) 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 stable projection. We’ve recognized an reasonably priced month-to-month financial savings quantity and opened 529 accounts for every baby.
When L receives bonuses or inventory awards, we focus on deploying that cash towards her household’s evolving targets, akin to residence renovations, relocations, and many others. We reassess priorities to make sure the funds are optimally allotted every year.
Tax technique is essential for L as a excessive earner. We evaluation all her employer’s advantages to make sure she leverages each tax-advantaged possibility.
Our agency helps scale back taxes via investments in tax-free autos and tax-loss harvesting. We preserve a detailed 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 based mostly on her disciplined financial savings and investing through the years. Her kids’s school prices are projected to be lined.
Most significantly, L has peace of thoughts realizing that if she pivots to a different trade or lower-paying position, 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.
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The case examine described above is a present consumer, although for privateness causes we’ve omitted the consumer title. This planning case examine ought to by no means be construed as a assure {that a} present or potential consumer will expertise comparable outcomes or ranges of satisfaction if she or he engages with WealthChoice for wealth administration providers. Each consumer expertise will differ. Future outcomes can’t be assured.
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