Young Family – Overwhelmed By Decisions

John And Mary Freedman

John and Mary were married three years ago and have a two-year-old son. Mary works in private equity and earns a nice income but a good portion of it is going to be paid over time in the form of “carry” and not available to spend, nor is it very predictable. John is in software sales and his income is also unpredictable. In the meantime, they have plenty of predictable costs and the need for more space as their son grows and they consider having a second child. They’re worried about the costs of having a new baby while continuing to live in the city and wonder if a move to the suburbs makes sense.

Each partner has a few concerns about how the other imagines their financial future. Mary is worried that John has all of his money in a handful of technology stocks and John wants to keep their condo as an investment property and is pushing to move to the suburbs. Mary isn’t sure what impact moving will have on their cash flow and if now is the right time to discuss it seriously. Finally, they are tired of arguing over which one of them should take the lead in managing their growing retirement accounts.

How Artemis Helped

  • We helped John and Mary to prioritize their goals and understand the trade-offs they might face with selling vs. renting their condo.
  • Using our risk tolerance questionnaire, we facilitated a discussion that allowed John and Mary to see how each other viewed financial risk.
  • We developed a financial plan that provided them with the longer-term big picture and a more detailed assessment of their 5-year cash flow.
  • We reviewed with John his options for self-employed retirement savings plans.
  • We showed John and Mary several options for funding their child’s college education.

How John And Mary Benefited

  • Mary felt a great sense of relief from worrying about the short-term cash flow needs with a plan in place.
  • With a clear idea of how much they needed to save for retirement, college, and a down payment on a larger home, they could confidently begin funding all three goals.
  • They were able to compromise towards an overall asset allocation that satisfied each of their risk-taking dispositions.

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