Financial Advisor for young families

Our young professional clients have unique needs and objectives that traditional financial advisors and wealth managers cannot address. As dedicated financial advisors for young families, we often swap our hats to become life coaches and career advisors.

Early Career

Many of our clients are at the beginning of their careers. When they decide to work with us, our clients usually have their first or second job after school.

Starting a family

Most of our clients have young children or plan to start a family.  We often get asked –

Should I go back to work or stay home with my baby?

There is no formula or calculator that can give you the right answer. It all comes down to your personal priorities and aspirations.  We will offer you solutions that fit your life choices.

Most parents will do anything for their children. But having kids is expensive. Whether one parent will stay at home and not earn a salary, or you decide to hire a nanny or pay for daycare, children will add an extra burden to your budget. Not to mention the extra money for clothes, food, entertainment (Disneyland) and even another seat on the plane.

Building the foundations

It’s not a secret that most traditional financial advisors and wealth management firms prefer to work with clients who have already accumulated significant wealth. We are different. We understand that you are in the beginning of your financial journey and want to be your trusted partner through all life changes and transitions.

Asset consolidation

It’s normal for young families to consolidate their assets in order to manage their wealth more efficiently.

Most young couples start their journey with multiple retirement, investment and savings accounts scattered in various financial institutions and former employers.

Through our financial planning tools, we can help you get a more comprehensive and objective view of your finances.

Setting your financial goals

Setting specific goals is crucial to achieving success in life and finances.

We can help you determine and prioritize your specific short-term and long-term financial goals. These milestones will guide you and help you make better financial decisions in the future.

Budgeting

Good budgeting is crucial to financial well-being. We can provide you with tools and resources to help you manage your income, cash flows, and spending.

Manage your debt

Many young families who are combining their assets often end up combining their debt as well. Managing and paying off your debt becomes a key priority in achieving financial independence.

Own a house or rent

Owning your first home is a common topic among my clients. However, home prices have risen in all major metropolitan areas around the country. Buying a home has become an impossible dream for many young families. Not surprisingly a recent survey by the Bank of the West has revealed that 46% of millennials have chosen to rent over buying a home, while another 11% are staying with their parents.

Buying a home in today’s market conditions is a big commitment and a highly personal decision. It depends on a range of factors, including how long you plan to live in the new home, available cash for a downpayment, job prospects, willingness to maintain your property, size of your family, and so on.

Saving for retirement

Maximizing your retirement savings will help you grow your wealth and build a cushion of solid retirement savings. Not to mention the fact that 401k contributions are tax-deferred and lower your current tax bill.

Saving for college with a 529 Plan

Many parents want to help their children pay for college or at least cover some of the expenses. 529 plan is a convenient, relatively inexpensive, and tax-advantageous way to save for qualified college expenses. Most states have their own state-run 529 plan. Some states even offer state tax deductions for 529 contributions. Most 529 plans have various active, passive, and age-based investment options. You can link your checking account to your 529 plan and set-up regular monthly contributions. There are plentiful resources about 529 plans in your state. We are happy to answer questions.

Protect your legacy

Many young families want to protect their children in case of unexpected events or a medical emergency. The process of protecting your legacy is called estate planning. Like everything else, it’s highly personalized depending on the size of your family, the variety of assets you own, your income sources, your charitable aptitude, and so on. Talking to an experienced estate attorney can help you find the best decision for yourself and your family.

Dynamic financial planning

As a financial advisor for young families, we offer dynamic financial planning to help you build, grow, and preserve your wealth through life transitions. No matter what happens in your life right now, we know that a few years from now things will be different. Life changes all the time – you get a new job, you have a baby, you need to buy a new car, or your company goes public, and your stock options make you a millionaire. Whatever the future brings, we want to plan it together.