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Case Study #1: Brian and Stephanie
Age: 38 & 36
Primary Goal: Same Money for annual family vacations while still managing the important expenses.
Brian and Stephanie are overwhelmed.
They recently had their second child and want to make smart decisions for their family’s financial future. Yet neither has the time nor the energy to manage the household finances.
Brian works for a mid-sized technology company and has quickly risen up the ranks in the accounting and finance department. Stephanie owns a successful therapy practice and sees clients three days a week.
The challenge isn’t that they don’t have the financial resources to achieve their goals. Both are high earners who make responsible decisions with their money:
- Paying off student loan debt
- Diligently saving for retirement
- Growing their emergency funds
But now that their lives are changing, the problem is they don’t know where their next dollar should go. How do they balance their family’s short-term needs with longer-term goals like sending their kids to college and securing their own retirement?
Brian and Stephanie know they have financial blind spots and need guidance.
They’ve also done their research and know to look for a fee-only, fiduciary financial planner. They want an expert who understands their values and goals and can clearly explain what they need to focus on financially.
While it may be too early to hire a financial planner, Brian and Stephanie want to ensure they can set their kids up for success without sacrificing their own financial future.
Brian and Stephanie want to start organizing their finances with a planner as soon as possible.
They’re also busy caring for two young children and managing their own careers. They don’t have time or energy to figure things out on their own and want to delegate financial planning decisions to an expert they can trust.
When Brian and Stephanie hired a financial planner, they had a variety of questions:
- “Are we budgeting correctly?”
- “Can we go on vacation and do what we want without worrying about the price?”
- “Are we on track towards our financial goals?”
- “Can we spend money now without negatively affecting our long-term goals?”
- “Is our money invested the right way?”
A fiduciary financial planner helped Brian and Stephanie develop a comprehensive financial plan that met their needs:
- A spending plan that keeps them on track towards their financial goals
- A savings strategy that balances short-term goals like family vacations with longer-term goals like college and retirement
- A tax-efficient IRA funding strategy
- An investment plan for their retirement funds and family savings
Brian and Stephanie now enjoy the confidence and peace of mind that comes from a clear financial plan.
They have more time and energy to devote to their family and careers—knowing they’re on the path to financial freedom.
Note: The above case study is hypothetical and does not involve an actual Chladek Wealth Management client. No portion of the content should be construed by a client or prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction if Chladek Wealth Management is engaged to provide investment advisory services.
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