Financial planning is a collaborative process that helps maximize a client's potential for meeting life goals through financial advice that combines relevant parts of the client's personal and financial circumstances. Here are some illustrative case studies.*
Case Study 1: Diane Bower
Diane Bower has worked hard in her career in a local nonprofit and made a decent income. She loves her job but is approaching retirement. Diane is wondering whether she has enough money for her retirement. She plans on working until age 70 but might retire earlier if she can manage it.
One plan that would work for Diane is the Basic or Kick Start Plan. This plan is designed to solve 1-2 problems for the client. In this plan, the financial planner can look at what Diane has currently saved and determine if she can reach her retirement goals.
Case Study 2: Marie and Hector Juarez
A young couple, Marie and Hector Juarez are both working professionals in corporate careers making a good living. They have two young girls. They have lots of concerns about making the right choices with their money.
A small sample of questions they’ve asked: How much should we save for our children's college education? Are we putting enough money away for retirement? We want to get a bigger home, how should we finance this? Do we have enough insurance coverage? Are we making the right investment choices? We tend to spend too much can you help?
Marie and Hector would benefit from ongoing Comprehensive Financial Planning. In our Premium Subscription Plan, clients pay monthly and work closely with the financial planner to achieve their goals. The financial planner acts as an accountability partner with Marie and Hector.
Case Study 3: Stephanie and Steve Smith
Steve Smith is a corporate executive, and Stephanie Smith is a high school teacher. Both clients are in their early 50s and are getting increasingly concerned about retirement. They have been saving for retirement, but they are worried if they will have enough saved for retirement and want help in learning how to save more. The Smith’s don’t want to mess with investments and prefer to have this done professionally.
The Smiths would benefit from the Platinum Plan. In this plan, the financial planner would manage all or some of their money and would meet with Smiths on a quarterly basis to work on their financial goals.
*All of these case studies are purely fictional and do not represent actual clients. They are primarily used for illustrative purposes of the services offered by CRFP.
Chris Reddick Financial Planning (CRFP) is different since we offer financial advising requiring no minimum assets under management. We are able to do this by providing a monthly subscription-based model where clients have the option of paying their fees on a month-to-month basis. CRFP offers investment management, retirement planning, financial planning, college funding, and student loan planning. Our approach is different since we use an educational values-based methodology. In this approach, we delve deep into your personal finances and use education as a way of inspiring meaningful and lasting change to achieve short-term and long-term goals. At each meeting, we have an agenda and after the meeting, we have tasks to be completed for the next meeting. This way we are each held accountable to achieve meaningful and lasting change together. Our approach is results-focused and we are accountability partners.
As a fee-only firm, we are compensated exclusively by the fee paid to us by you, our client. There is no sales pitch, no commissions, and no products are sold.
Schedule a free initial 30-minute discussion of your financial planning needs.