Family Financial Planning - District Capital Management
Case Study

Meet the Sanchez Family

Couple with 1 Child

Situation

Anthony and Maria have been together for 10 years. They have one daughter, Sophia, whom they adore. Maria went from working full-time to working part-time when she became a Mom. They wanted to save on childcare costs and wanted one of them to be home more with their daughter.

Due to the decrease in income, Anthony and Maria want to make sure they are still on the right track financially. Their priorities have changed since becoming parents and they both feel strongly that they need to make sure their plan is working for them.

Anthony

Maria

Sophia

Goals

How We Helped

  • Analyzed cash flow for current spending and savings trends.
  • Developed a plan to build cash reserves for a family of 3 for potential emergencies.
  • Analyzed current retirement savings projections and investment allocations. Made recommendations on 401(k) and IRA contribution rates, tax treatment, and investment allocation, based on goals, market conditions, and risk tolerance.
  • Discussed options for college savings for Sophia. Helped them open, fund, and invest in accounts according to Sophia’s age and market conditions.
  • Analyzed current insurance policies and made recommendations to meet their needs.
  • Referred Anthony and Maria to a local Estate Planning Attorney to help ensure their wishes were met and their daughter would be taken care of in the event something happened to either one of them.
  • Analyzed current home value and future home wishes to develop a plan to purchase a new home that fits their larger family.
  • Provided ongoing advice so as life changes for them, their financial plan will change with them.

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Disclaimer: Case studies are hypothetical client scenarios. Planning recommendations may differ from your situation. Please consult with your own advisor before making any changes to your Financial Plan, Investments, or Insurance coverage.

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