Meet Taylor and Elijah, a young 30’s couple with over $350,000 of annual income. With two young children and five hundred thousand dollars in investable assets, Taylor and Elijah want to ensure their current plan is right for them. Learn more about Taylor and Elijah and how they now feel confident in their entire financial future.
Taylor & Elijah
With everything else happening in their lives, they haven’t been actively engaged in their financial lives. They have multiple 401(k)s from former employers with uncertain investment strategies. At their current combined income level, they have accumulated significant savings, but it’s just sitting in their bank checking account, not earning much. They have no wills or legal documents and have no idea whether they are adequately insured. In general, they had no real roadmap for their financial future.
By hiring a financial planning team, Taylor and Elijah were able to clearly define and document their financial goals following our comprehensive financial planning process. Through that process, we introduced them to an estate planner to help set up all the necessary legal documents to protect themselves and their children. They could immediately see a difference and were excited that they had started the planning process to finally address their topics of concern and have a team in place to handle things they hadn’t even considered.
Taylor and Elijah can rest assured that they are now prepared financially for whatever comes their way. By engaging in our comprehensive planning process they:
- Know that their investments are being closely monitored and are positioned to achieve their goals
- Have a method to track and manage their cash flow and spending budget
- Established 529 plans to save for their children’s future education
- Implemented a tax-efficient investment strategy to improve the long-term growth opportunities
- Improved asset allocation to better align with their goals
- Reviewed their outstanding student loans and created a strategy to become debt-free
Taylor & Elijah continue to enjoy the life they created with their beautiful family. They are excited to know that everything that needs to be happening in their financial lives has been addressed, and they are on track to accelerate their retirement timeline.
This is a case study and is for illustrative purposes only. Actual performance and results will vary. This case study does not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed, and a financial advisor should be consulted. This case study does not represent actual clients but a hypothetical composite of various client experiences and issues. Any resemblance to actual people or situations is purely coincidental.