Ken and Suzy have two daughters. As a senior executive at a Fortune 1000 company, Ken maintains a demanding travel schedule where time is Ken’s most limited resource. Over the last 2 decades as Ken has worked his way up the corporate ladder, Ken and his wife accumulated 4 different 401ks scattered across multiple custodians, 3 different education accounts for the kids college, a couple of old insurance products, and a heavy concentration of company stock as a result of the options, RSUs, and ESPP plan. To top it off Ken and Suzy have an uncoordinated group of advisors located in different parts of the country as a result of their various corporate moves.
Ken and Suzy came to Mills Wealth Advisors looking for an experienced team of advisors that have helped people like them. They wanted an independent CERTIFIED FINANCIAL PLANNER™ team that could listen to their goals, consolidate their assets, and put together a coordinated financial plan that would increase their investment returns, lower their risk and simplify their life.
After listening to Ken’s and Suzy’s dreams and fears, the Mills Wealth Advisor team reviewed their assets, liabilities, and current asset allocation. From there the team built a net worth statement and confirmed their budget and savings. Next the team began to craft a customized financial plan interactively as they discussed Ken & Suzy’s various goals combined with assets, insurance policies, and tax situation.
A plan was crafted to slowly exit Ken’s concentrated company stock position in a manner that minimized taxes, diversified their investment assets and reduced risk. Given their goals the Mills Wealth team help Ken and Suzy understand how much retirement income would be needed to fund their goals and gave them a list of strategies that would increase their chances of success. The next step in the planning process involved introductions to a CPA, estate attorney, and 2 insurance agents with differing specialties, the first specialized in long term care insurance and the second provides property insurance for high net worth clientele.
After completing the planning process and implementing the various recommendations, Ken and Suzy finally felt confident about their financial future. They now knew definitely that they were on the right path and had a plan to reach their families long term goals.