Mark and Mary

Who They Are

Mark age 38 is an engineer at Lockheed Martin earning $120,000/yr plus a 10% bonus.
Mark has a small 401(k) and pension from a prior employer.
Mary age 36 works for Verizon as a program manager where she earns $125,000/yr.
They are saving aggressively in their 401(k)s and have the means to save elsewhere.
They have (2) young kids ages 2 and 5.
Save for their children’s college educations.
Concerned about guardianship and financial security for their spouse and children.
They have group life insurance through their employer but lack complete coverage.
Mark does their taxes but would like to offload that task and make sure they are planning for taxes appropriately.
Mary might receive a moderate inheritance in the next 10 years.
Needs help with how much they should be saving, how they should be investing their savings, where they should be saving, and what they need for insurance coverage(s).

How we Helped

Our clients come in all shapes and sizes with varying income levels, unique challenges, and different goals. We offer customized planning for each client based on individual circumstances.

Retirement Planning

Modeled how much they need to save, how long they need to work, and what adjustments they should make in their plan in order to replace their current lifestyle in retirement.

Retirement Savings

Implemented the “Backdoor Roth” contribution strategy, as well as the “Mega Backdoor Roth” IRA strategy specific to Lockheed Martins 401(k) plan.

Life Insurance

Calculated how much term life insurance is sufficient to protect them in the event of an untimely death.

Tax Preparation

Relieved Mark of the tax preparation burden and consequently uncovered some opportunities to do Roth Conversions before Social Security starts, as they are in a low income bracket.