Breadwinning Woman in Tech Success Story | Certified Financial Planner

Breadwinning Woman in Tech

Merging finances and creating a plan for more savings and dream vacations.
Bread Winning Woman in Tech discussing her finance

The Challenge:

Mia and Tony, ages 40 and 43, have a combined income of $360,000. Although they have just paid off all debt except for their mortgage, they don’t know where their money is going and feel like they’re behind on saving for retirement. They would also like to take more vacations without worrying how to pay for them and they want to renovate their home so they can entertain more.

Mia and Tony’s Primary Goals are to:

  • merge their finances
  • increase their savings
  • plan for vacations and home renovations

Our Approach:

  • Analyzed spending and determined what they valued so they could stop spending money on things that were not important
  • Developed a system to merge finances with consideration to their differences in salary
  • Developed a cash flow strategy to increase savings and set aside funds for vacations
  • Analyzed options for funding home renovations, including a home equity line of credit, home equity loan, and cash out refinance
  • Reviewed investments and adjusted their allocation to meet their long term goals
  • Completed a life insurance analysis and increased their coverage
  • Coordinated with an estate planning attorney to execute wills, powers of attorney, and advance directives for healthcare

The Results:

  • Mia and Tony have increased savings rate by 7x. They are now maxing out their retirement accounts, have a fully funded emergency fund, and are starting on their long awaited home renovations.
  • They shifted their spending to align with their values, and are setting aside funds for guilt-free vacations.
  • We consolidated their retirement accounts from previous employers and made changes to their investments to help them reach their retirement goals.
Bread Winning Woman in Tech discussing her finance

Note: The above case study is hypothetical and based on experiences with actual Financial Staples clients. No portion of this content should be construed by a client or prospective client as a guarantee that they will experience the same or similar level of results or satisfaction if Financial Staples is engaged to provide financial advisory services.

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Copyright © 2016-2024 Financial Staples, LLC. All Rights Reserved.