Broker Check

Entrepreneur Couple

Matt, 27 & Jessica, 26 - Entrepreneurs

Matt, 27 & Jessica, 26 - Entrepreneurs

Reason for reaching out

They are entrepreneurs and enjoy experiencing the life they have just begun building together. They have been planning to reach out to begin financial planning to ensure they are making the correct financial decisions for their family and their businesses. 

Matt and Jessica are the owners of a local Marketing Firm. They have begun to experience a lot of success since a video they made went "viral". 

Matt is concerned that since they don't have an employer providing them with a retirement plan, they are going to be behind for retirement. They are both concerned about being told "no" when it comes to continuing to spend on their bi-monthly trips. 

What we found in our Data & Goals meeting

Matt & Jessica agree on most things when it comes to their finances. In the data and goals meeting, we found that:

  • They had a surplus of money each month that was being carelessly spent without a plan.
  • They could decrease their tax liability each year with comprehensive tax planning provided by a CPA.
  • They could implement a business retirement plan for themselves and take advantage of higher contribution limits.
  • They were very appreciative to have an advisor to easily explain some of these complexities. 

Our Strategy for Matt and Jessica

  • We would evaluate the implementation of a SEP IRA for Matt and Jessica. 
  • We could work with a local CPA to develop a tax plan that could work along side of a tax-efficient investment strategy.
  • We would want to provide an insurance analysis to make sure each were protected in the event of an untimely passing.
  • It's possible cash-flow planning could help them with their careless spending each month which could lead to them being able to hire an admin to free up more of their time. 

We would work to provide a plan for Matt and Jessica to be able to save for retirement without having to say "no" to their bi-monthly trips. 

This is a hypothetical example and is not representative of any specific situation.