Who We Work With

Our clients come from all walks of life. Some are just getting started building their career, while others are preparing for retirement. However, one thing is consistent across all of our clients: they’re busy! 

 

Whether our clients are growing their family, starting a business, enjoying travel in retirement, or are just living their daily lives – they have big goals, and no time to create a financial strategy to help them get there. 

 

They recognize that their time and energy is best spent on the people and activities that matter most to them, not managing their money. That’s where we come in.

 

Are you ready to ditch the feeling of financial overwhelm, and start feeling empowered about your money? You’re in the right place!

CASE STUDIES

MID-CAREER PROFESSIONALS (INDIVIDUALS & FAMILIES)
Balancing between living today and planning for the future.

At this point in your life, things are going smoothly. You’re enjoying hard-earned career success, you’re earning more money than you ever have before, and you’re generally comfortable with your financial situation. However, the more you think about the future, the more nervous you become. 

 

You’re saving for your kids’ college education, thinking about future retirement, and pursuing near-term goals – like building a business or buying a vacation property. It’s becoming more and more challenging to balance these financial aspirations with the daily schedule of raising a family and building a career. 

 

Luckily, you don’t have to go it alone. Together, we can make sure you feel confident you’re on a path that can help enable you to enjoy your life in the now while saving enough to secure your future.

 

Common concerns include:

  • Am I on track for my long-term goals? 
  • How much should I be saving for retirement?
  • How much should I save for my children’s education?
  • How do I make sense of my employee benefits?
  • How do I balance paying off debt, funding my future, and living fully today?
  • How should I budget for variable income?
  • What can I do to help secure my children’s future?
  • How might my finances change as I move up the ladder in my career?
  • How should I invest in my portfolio?
  • What do I do with my stock options?
  • How do I minimize investment fees so my portfolio can grow faster?
  • Is a pre-tax or Roth account better for me?

 

Family walking

Meet Alice & Liam

Age 37 & 38, married with two children (ages 6 & 2).

Alice is an interior designer with a large firm and Liam is a commercial real estate broker.

 

Their concerns:

  • We don’t spend much time working on our finances. We work hard and put in a lot of hours at the office and with our kids
  • We now have a family and would like to figure out how to live our life now, have the opportunity to spend & enjoy our money, without worrying about underfunding our future
  • We don’t track our expenses well but managed to live beneath our means. Our income is variable and it presents stress for us to make sure we can meet our monthly expenses
  • Liam wants to purchase additional real estate properties
  • We want to save for our children’s college
  • We would like to understand how we balance all of these balls in the air?
  • Alice still has graduate student loans to pay off
  • Liam is concerned about his parents’ retirement and most likely will have to provide support for them
  • Alice and Liam used to travel a lot before kids showed up, they would like to resume travel traditions
  • Alice also wants to make sure her employee benefits are fully maximized since her employer doesn’t offer a 401k match. She also has equity compensation, RSUs (restricted stock units).
  • They want to purchase their first home since they’ve been long time renters.

 

Our Solution:

Alice and Liam would benefit from a full comprehensive Money Roadmap to help them put all of the above-presented puzzles together, gain confidence, and feel empowered about their money as well as Navigation Support assistance to make sure their goals are met over time.

 

  • First, we’ll gather all the necessary information to discuss Alice and Liam’s net worth. How much have they acquired, what kind of debt are they carrying, and do we see their finances trending in the right direction?
  • The next step for Alice and Liam is to get a good handle on their variable cash flow. Liam’s paychecks are not regular and Alice’s income is not enough to cover monthly expenses.
  • Then, we begin to clarify what exactly they want to accomplish. What are their financial goals? We’ll gather specific details like total cost, due dates for when they want to accomplish these goals, and whether they’re recurring or not.
  • We’ll then model their financial goals in our software (utilizing both an optimistic and pessimistic roadmap) to clearly understand the likelihood of achieving their dreams if they continue the existing pattern of saving/investing/spending.
  • Next, we identify areas of improvement that will increase the likelihood of turning their goals/dreams into reality. What happens if they save 3% more to Liam’s 401(k), or pay down Alice’s loans ahead of schedule, or begin that brokerage account that they hear so much about?

 

The Result: Alice and Liam walk away with a clear understanding of what adjustments need to be made to improve their financial future. They gained the confidence to back up their financial decision to help them balance between living today and planning for the future.

PRE-RETIREES & RETIREES (INDIVIDUALS & FAMILIES)

Your focus has shifted from supporting your family and building your career, and now you’re looking forward to retirement. However, as you get closer to the day you walk away from your career, you can’t help but feel a little bit nervous.

 

After all, you’ve spent a long time building a career you love! What will happen when you leave it behind for this new chapter?

 

The truth is, your definition of retirement may be different than what people commonly think of. The good news is that you have many options available to you. You can continue to work part-time, stop working altogether, enjoy financial independence, or pursue items on your bucket list. 

 

The Mainstreet team can help you to define your ideal retirement, and create a Money Roadmap to get you where you want to be. We’ll help you build a plan for creating income during retirement, and continuing to invest in a way that sustains your lifestyle.   

 

You worked hard and you earned it! Now, with our Money Roadmap and Navigation Support services, you can ensure that you’re able to live the retirement you’ve always imagined.

 

Common concerns include:

  • Am I on track? How do I know?
  • When can I retire?
  • How much should I still be saving for retirement?
  • My job is really stressful, am I okay to switch to a less stressful job?
  • When do I take social security?
  • How do I balance paying off debt and saving for retirement?
  • How should I set my Spending Plan for expenses in retirement?
  • How should I invest my portfolio?
  • How much can I withdraw from the portfolio?
  • How can I help my aging parents?
  • Do I need additional insurance such as long-term care insurance?

Meet Bailey & TJ

Age 53 & 57 married, empty nesters, with two children launched (ages 31 & 27).

They are expecting their first grandchild to arrive in 6 months.

Bailey is a retired military officer who is now a defense consultant and TJ is a CFO for a small tech startup.

 

Their concerns: 

  • Bailey and TJ are empty nesters, now focused on figuring out what to do with their life, since both children are now out of their nest. 
  • They’ve both had long careers in their fields and are ready to start looking at the next phase of their life. How long would they have to work and save so they can retire comfortably? 
  • How much more can they save in the next few years?
  • TJ’s job is really stressful, is he okay to switch to a less stressful job?
  • Bailey could retire at 52 and started collecting her pension. Should she look for part-time job?
  • When should they start collecting social security in retirement?
  • How will medical insurance work in retirement, since Bailey has military benefits (Tricare)
  • How should they structure their portfolio to provide most income?
  • When should they start tapping into their portfolio for distributions?
  • They also want to help save for a new grandchild college fund.
  • They plan to live abroad 3 to 5 months per year when TJ turns 60. How much should their budget be for this expense?
  • They still have a mortgage balance on their primary residence. How fast can they pay it off?
  • They are looking to set up a Spending plan for retirement that doesn’t limit them, but rather provides an idea of where everything is at and keeps them in line.
  • TJ is worried about his aging mom, who is 85. He thinks he might need to provide care to her in the future.

 

Our Solution: 

Bailey and TJ would benefit from a full comprehensive Money Roadmap to help them put all of the above-presented puzzles together, gain confidence, and feel empowered about their money as well as Navigation Support assistance to make sure their goals are met over time.

 

  • First, we spend a session on quantifying and mapping out their financial goals in priority sequence. What does retirement look like? Would they stay in the same house with a mortgage or downsize?
  • We assist in developing a Spending Plan so they can get a handle on income, expenses as well as how much they can save.
  • We will also look at Bailey and TJ’s cash flows and analyze the effects of a change in income and savings on their overall plan to determine how changing jobs affects their goals. With this, they can feel confident knowing what they need to save to retire on track and allow TJ to have a more fulfilling work life with less stress. 
  • We will also analyze the expected cash inflows from pensions and the military benefits they both can access during retirement and determine how much more is needed to meet their living expenses in retirement.
  • This also helps us determine how much they can contribute to education or helping with the costs of caring for TJ’s mother.
  • Considering all these factors, we determine what needs to happen in order to meet these goals, be it extra saving, working longer or Bailey and TJ are on a good path. 
  • We model alternative outcomes in sophisticated planning software and produce both an optimistic and pessimistic view that both result in an acceptable outcome, but sometimes at different spending levels in retirement. 
  • These two Money Roadmap scenarios provide a map to track their progress in semi-annual Navigation Support sessions that help them navigate their way to success and avoid potentially costly mistakes.

 

The Result: Bailey and TJ will have a clearer understanding of their income needs in retirement, their savings ability right now, and what other things they need to do from this point forward to assist their family while still meeting their retirement needs.