Young Accumulators Starting a Family
Our case studies are based on our years of experience helping young families and are designed to help you understand how we would engage with you if given the opportunity. If you’re a young high-income couple with a newborn, you probably feel like you need more than just retirement planning. You may want to understand how you can plan for big expenses throughout life, like cars, weddings, and an education. How do you pay for that and save for retirement and other life goals?
Is Your Situation Similar?
Hypothetical Situation:
- Are you a couple in your mid-thirties with a newborn baby?
- Is your cash savings nominal at best?
- Do you have Credit Card debt mounting?
- Maybe you have retirement savings plans through work.
- You might not have an IRA or Roth IRA.
- You do have limited disability and life insurance through work.
- You don’t have an estate plan.
We’d Customize a Plan for Your Family
- We’d implement a holistic Financial Plan to identify the weak points of your situation.
- You may decide to pay off consumer loans from cash flow.
- We might recommend maximizing all benefits through each of your employers, focusing on disability and life insurance.
- We may suggest reallocating the employer-sponsored retirement plans to diversity and target long-term growth.
- Implementing private life insurance policies for each spouse may provide additional protection.
- You may consider initiating education savings through a new 529 Plan.
- Funded backdoor Roth IRA contributions may be a good strategy.
Success Might Look Similar to This

We have a passion for helping our clients work toward their individual goals and personal definitions of success. Success for young adults starting a family might look like:
- Eliminating all your consumer loans.
- Increasing cash flow once consumer loans are paid off.
- Mitigating risks associated with disability and premature death.
- Being better equipped to handle the future cost of your child’s education.
- Developing a sound investment portfolio that matches your long-term financial goals.
- Growing a bucket of tax-free money in a Roth IRA.
Investors should consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. This information is found in the issuer's official statement and should be read carefully before investing.
Investors should also consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 Plan. Any state-based benefit should be one of many appropriately weighted factors in making an investment decision. The investor should consult their financial or tax advisor before investment in any state's 529 Plan.
Converting from a traditional IRA to a Roth IRA is a taxable event.
A Roth IRA offers tax free withdrawals on taxable contributions.
To qualify for the tax-free and penalty-free withdrawal or earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59 ½ or due to death, disability, or a first-time home purchase (up to a $10,000 lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes.
Sound Like You?
Our goal with these hypothetical scenarios is to give you a perspective on how we might address any given solution. Every situation is different and is uniquely addressed. If you would like to talk with our team about how we might help you, contact our team today. We look forward to serving your interests and family.
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