This client had seen his income steadily rise over the years, and his employer recently offered him an intriguing but complex retirement incentive plan. The plan came with extensive paperwork and significant tax implications that he didn’t fully understand. That’s where we stepped in.
We connected informally through a shared interest, and he began asking about tax planning. He had previously reached out to his CPA for help understanding the new opportunity, but the CPA’s one-word response—“No”—left him without guidance.
How We Helped:
- Comprehensive Review: We started by thoroughly assessing his financial situation, highlighting how his lifestyle spending had not only kept pace with his increasing income but had actually surpassed it.
- Identifying Key Needs: We discovered several areas where he needed support, including asset protection, estate planning, disability insurance, and tax planning.
- Deciphering Complex Documents: We meticulously reviewed the complex documentation of the incentive plan to clarify its structure. We found it was a three-in-one package, combining an alternative high-risk investment, a private equity business, and a retirement plan. We helped him understand the intricacies of each component.
- Prioritized Financial Planning: We developed a step-by-step plan to address his financial priorities. Within the year, he was on track to secure his family’s future while managing risks and preparing for long-term goals.
Why Personalized Guidance Matters
Complex financial situations often require more than just a standard approach. By offering clarity and personalized solutions, we helped this client navigate a confusing opportunity, protect his assets, and establish a solid foundation for future planning.
Complicating Factors: Single-income family, high-income earner, complex tax and investment situations, significant debt.