The clients are a married couple, both professionals in their fields, and have two young kids. They asked me to advise them on whether they are doing the right things in regard to their finances: are they saving enough for retirement, for the kids’ college, for their first home, and how should they invest their money.

They appreciate an advisor that can be their coach, explain their options, and help them learn and make informed decisions. Now they feel confident implementing their financial plan and are ‘learning how to fish’.

The Problem

With their professional careers on track and two young children to care for, John and Jane realized that they did not have the right experience and information to make the best use of their resources to provide for the family’s future.

The Challenge

John and Jane knew that they needed to save for their retirement years and for their children’s college expenses. However, they also wanted to buy their first home and build a nest egg for emergencies. They sought assistance in finding a strategy that would effectively balance these competing needs.

The Goal

The financial goals were obvious: save enough for retirement, the kids’ college years, a new home and a nest egg. But John and Jane wanted more. They wanted to become competent stewards of their assets and income, savvy enough to make smart financial decisions on their own.

The Path

When I met John and Jane they had the majority of their money in cash because 1) they didn’t have the confidence to invest and 2) they were saving to purchase a house. We worked with them on how they can invest, diversify their investments, lower their taxes with a SEP IRA and how to save to achieve their financial goals.

The Frontier Wealth Strategies Benefit

The age-old adage says, “Give a man a fish, and you'll feed him for a day. Teach a man to fish, and you’ve fed him for a lifetime.” John and Jane appreciated being taught instead of simply being told what they should do. Now they feel confident about implementing their new financial plan, and they know that they can depend on us to help them deepen their understanding of new asset management strategies in response to changing conditions.

Read: Planning for an Emergency Fund Case Study