Is it time for financial advice?

For many young professionals, financial planning is less about creating financial plans and more about having the money you need to live the life you want. I can provide insight into the financial needs that arise when you’re just getting started in your career – managing student loan debt, starting a business, the pros and cons of renting vs. buying, the financial consideration of getting married – and give you peace of mind that you’re making smart decisions with your money.

I’ve developed a modified version of The DREAM Financial Planning Process ™ tailored to the unique needs of recent graduates and young professionals. This process focuses more on short and intermediate goals rather than putting the emphasis on retirement which seems like a lifetime away for someone in their 20s or 30s.

The DREAM Financial Planning Process ™ for young professionals

Discovery and Debt
  • In this initial meeting we’ll get to know each other and discuss the issues most important to you.
  • We’ll discuss your current debt, with an emphasis on student loans, credit card debt and your credit score.
  • Do you have a budget? How about an emergency fund?
  • Are you properly insured?
Real Estate, Recreation, and Retirement
  • Do you rent or own a home/condo? We’ll do a cost benefit analysis of renting vs. owning.
  • I’ll help you craft a plan to begin saving for a down payment if needed.
  • Introduction to my network of real estate experts so you know the necessary steps to be able to buy a home.
  • We don’t earn money just so we can save and invest. What do you like to do for fun?
  • Let’s discuss future travel plans and develop a budget for travel & leisure expenses.
  • Introduction to Retirement Planning and 401k analysis. Are you saving enough to get your full match?
Educate and Evaluate
  • I’ll educate you on the strengths and weaknesses of your current plan.
  • I’ll also evaluate the best options to improve your current situation.
  • Begin building an action plan focused on developing a budget and debt reduction.
Action Plan
  • I present my recommended budget, debt reduction and savings plan
  • Set up monthly ACH deposit to automate savings.
  • 401k and employee benefit analysis
  • Review insurance needs – Life Insurance, Disability etc.
  • Discuss current and recommended investments outside of your 401k plan. Establish a 529 plan if needed.
  • Introduction to Estate Planning and referral to an Estate Planning Attorney if needed.
Mutual Commitment & Monitoring
  • Review my recommended action plan and ensure there is mutual buy in.
  • Quarterly check-ins to make sure the action plan is being followed.  You have unlimited access to me in between meetings.
  • During end of year benefit elections will evaluate your 401k match and employee benefits to make sure you’re getting the most out of your benefits.
  • During tax season let’s make sure you’re taking advantage of tax deductions for student loan repayment, IRA contributions, and 529 plans if applicable.
  • I’ll provide a referral to an accountant if needed.
Ideas & Advice Service

I offer the first two steps in my Process - Discovery and Debt and Real Estate and Recreation - as a way to get to know me and gain a feel for my approach. This service allows you to “test drive” my guidance with no pressure whatsoever to move into an ongoing engagement.