Financial Independence Plan Case Study

Transform your assets into the life you’ve always dreamed of!

In this episode of the MedTech Wealth Advisor podcast, host Matt Nelson, CFP® and Jacob LaRue, CFP® go through a real-life example in a case study. They discuss the imperative considerations and how they created a Financial Independence Plan unique to the client. 

The first step is to understand the clients’ values, needs, and what exactly they want out of life. Then they can delve into the specifics of their financial picture and specific challenges, such as stock options. With all the information delivered a plan is developed to reach their short-term and long-term financial independence goals while still prioritizing the values, goals, and desired lifestyle of the client. 

Also discussed is creating a “baseline scenario” to account for potential ups and downs in income and expenses. This creates a solid framework that can adapt even in the face of major life events. Tune in for a comprehensive look at what it takes to plan for your future and create your own personal Financial Freedom Statement!

Key Highlights: 

• Understanding Core Values:
  • Rather than working from their own ideals and processes, getting to know the client’s personal views and values is the initial guide to the planning process.
• Financial Freedom Statements:
  • An overall view of a client’s financial outlook in the present and the future, as well as the options that are available to adjust their work-life balance
• Equity Compensation & Benefits:
  • Don’t miss out on equity compensation not yet vested, understand all your benefits and how to maximize them.
• Long-Term Planning:
  • Building a comprehensive financial independence plan looks beyond immediate spending to consider lifestyle changes, potential sabbaticals, increased travel, and other long-term goals.
• Baseline Scenarios:
  • Creating an initial template with expected income and known expenses in the present and future lays a foundation for
• And more!

Resources:

• MWA Ep. 20: Financial Independence with a Lifetime Income Plan
• Do you have a topic you’d like to learn more about on this podcast? Send us an email at [email protected] to let us know. We look forward to hearing from you!

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About Jacob LaRue

Jacob LaRue started working for the Perspective 6 Group as a Financial Advisor in 2016. Jacob is passionate about financial planning and believes in an all-encompassing approach to the planning process. His main goal is to help families and individuals pursue their personal and financial goals. In his role, Jacob assists the team in financial plan development, investment management, and meeting with clients to review their plans and portfolio the team has put in place.

In his free time Jacob loves to spend time with his family, Haley, Jace, Maeve, and their cat, Kitty. They enjoy traveling, playing sports, and trying new local foods and shops. Outside family life, Jacob enjoys football, baseball, golf, and playing on a local flag football team.