Building a Financial Foundation for a Young Family
Client Background
A young couple with children, just starting their financial journey, sought our help to balance saving for education, retirement, and asset protection.
Challenge
With a low-rate mortgage and dual incomes, the couple faced competing goals: funding their children’s education, saving for retirement, and protecting their growing assets. Limited liquidity posed a challenge for short-term needs.
Solution
We prioritized asset protection by securing life insurance and confirming employer-provided disability insurance. We recommended contributing to a Roth 401(k) for tax-free retirement savings and a non-retirement investment account for long-term, liquid growth. For education, we recommended automatic monthly contributions to a Colorado 529 plan, balancing flexibility and tax benefits.
Results
The couple built a solid financial foundation, with protected assets, tax-efficient retirement savings, and a flexible education fund. Their liquid investment account provided short-term security, while our ongoing guidance ensured that their plan evolved in line with their family’s needs.
Are you starting your financial journey? Contact Michael Brady for a personalized consultation to discuss how your wealth can align with purpose and possibility.