Chad’s a Medical Sales Director (40) and Winona’s a thriving Travel Agent (37), they have two girls, 8 and 10 years old.
They were referred to Know My Plan by one of their neighbors and until now they’d been DIY investors.
Chad and Winona, like so many other high-achieving professionals, finally hit a tipping point where the complexity left them with more questions and anxiety than they had answers for.
We came to find out that during a weekend BBQ with their neighbors (who as mentioned, are KMP clients), they realized it was time to reach out themselves.
We enjoyed meeting this kind, energetic, and inquisitive couple. We discussed what was important to them, what it would look like to be financially independent, and their goals for their family and future.
Chad and Winona found themselves in the common quicksand that often comes with successful professionals:
-Not optimizing stock options.
-Overweight investments in pre-tax retirement plans.
-No HELOC.
-Too much cash; afraid to move it.
-Paying extra on their low interest mortgage while ignoring other opportunities.
No judgement here; We don’t judge or cast blame, we simply aim to more efficiently move forward.
After walking them through our financial planning process, we quickly created an organized visual balance sheet displaying the entirety of their financial picture on one page.
While it might seem simple, for many this is the moment of clarity and confidence they have been looking for!
We made immediate plans to fix the big glaring risks and in the next conversation moved to my favorite part of the financial planning process—collaboratively answering their most pressing questions together:
“How much do we need to contribute to pay for our daughter’s undergraduate college education?
“How much life insurance do we need?”
“How much do we need to invest to retire comfortably at 65 on $10,000 per month?”
As a financial planner, answering these questions with clients brings me an incredible amount of joy because I know how much relief this provides and immediately gives your money a purpose and hope for a great future!
Chad and Winona would’ve been just fine had they never met us. They honestly had a decent framework in place. That said, they were tired of the anxiety that came with having to keep close watch on everything.
Today, I believe they will be so much happier with Know My Plan, knowing their financial life is now professionally managed.
If you or someone you’re close to is a high-achieving professional that could use help aligning their finances and establishing a financial plan, please reach out to us, we’re accepting new clients and eager to help.
Cheers, Nic
These are hypothetical situations based on real life examples. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments or strategies may be appropriate for you, consult your advisor prior to investing.
