Wealth Building Families
Creating a Vision for Your Family’s Financial Future
Work. Kids. Friends. Buying a House. Soccer Practice. Ballet Recital. Student Loans. College Planning. Saving for Retirement. You are in the meat of the day to day rat race. Financial planning has taken a back seat as your daily work and family responsibilities suck up most of your time. Some day you will get around to making your family’s financial future a priority. However, the cost of not doing a plan now is real and creates potential risks for your family’s wellbeing down the road.
Let us help by taking the stress and guesswork out of building a plan, so that you can feel confident that your family’s financial goals and dreams can be met with excellence.
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Am I a Good Fit?
- Young families who wish to have a Certified Financial Planner (CFP®) guide them through the initial creation and execution of a financial plan
- Families with teenage children entering the crucial stage of balancing retirement, education, and other savings goals
- Job changers who are looking to make sure their financial goals stay on track as they begin a new venture
Case Studies
Client Background
Facts
- The Marshalls are a young family of four looking for guidance on building a plan
- Steve and Annie age 35; Paige – 3, Payton – Newborn
- Steve and Annie are both marketing professionals
goals
- Make sure retirement savings are on track for comfortable retirement at age 60
- Make sure education savings are on track to pay for 50% of college for both children
- Make sure life insurance coverage is adequate now that they have second child
Challenges
- The Marshalls have money saved in various places, but the investments are not coordinated together, and they don’t know if it’s enough to meet all of their planning needs
- No estate planning documents
- Steve is considering a job change and isn’t sure how that will affect their long-term goals
- Considering building a new house, and are not sure of the best way to go about everything that goes into that
How Did Oxford Help?
Oxford’s Partnering Process provided the Marshalls CLARITY by allowing them to identify, prioritize, and conquer their financial plan. The plan is updated annually at their June review via the Financial Wellcheck, with live updates and progress available anytime via Oxford’s online Personal Financial Portal
Results
- Confirmed retirement at age 60 is on track
- Established a plan to increase education funding so that 50% of costs for their beloved University of Dayton are covered for both children
- Steve felt secure taking the new job, where he is very happy and has already received a promotion
- Used outside counsel to complete a full set of estate documents, which Oxford reviewed to ensure they were consistent with the family’s wishes
- Increased life insurance coverage to be sure all of their goals are still achieved even in the event of a premature death
- Property secured and financed for new house build
This is a hypothetical example used for illustrative purposes only. The strategies discussed in this example may not be suitable for all readers. Please consult a CFP® Professional, CPA, or attorney prior to taking any action. No strategy assures success or protects against loss. Investing involves risk including loss of principal.