Backstory:The Most Epic Honeymoon!
Kenneth, aka Kenny, a 35-year-old electrical engineer has cash he wants to invest. Kenny desperately wants to make sure he has an emergency fund and is on the right path towards a comfortable and stress-free retirement. He has student loan debt of $50,000. He recently became engaged to Anita and are in the midst of planning their wedding. The wedding is a year from now and Kenneth is in charge of planning the honeymoon. He greatly wants to plan an incredible honeymoon in Fiji. Top Goals:
|
|
Prepare:
Plan:
Pursue:
The above client scenario is hypothetical and does not involve an actual Your Story Financial 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 Your Story Financial is engaged to provide investment advisory services.
- After our Discovery session, Kenny realized that he has to always do something good with his money. Whether that is giving to his church, giving to a great cause or just giving his time.
- We recognized and honored that Kenny has to make sure a giving strategy is a part of his overall plan.
- Based on unpacking Kenny’s innate money values, we were committed to help him explore his possibilities and prioritize how his money will be used.
Plan:
- Reviewed Kenny’s cash flow and will helped him implement a system to gain control of where his money is going.
- Developed a strategy for Kenny to accomplish a 6-month emergency fund in two years.
- Reviewed the cost of the honeymoon Kenny desired. Then coordinated a plan for Kenny to set aside funds on a monthly basis for his epic honeymoon.
- Provided recommendations to Kenny to increase in his 401K contributions and to begin saving in his health savings account.
- Developed a plan for paying off Kenny’s student loan debt. · To set aside funds to open a Donor Advised Fund.
Pursue:
- Kenny is on an excellent track to save for his honeymoon to Fiji (his wife will be ecstatic).
- He has doubled his savings into his 401k, saving more than his employer’s match.
- He is halfway towards building his 6-month emergency fund and is pleased that he’s able to meet his charitable goals annually.
The above client scenario is hypothetical and does not involve an actual Your Story Financial 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 Your Story Financial is engaged to provide investment advisory services.