Helping Monica, a business owner, plan for her future

Hard-working and creative, Monica has found considerable success as an entrepreneur and business owner. Despite her financial success, however, she was unsure where to start when it came to managing her personal wealth and saving for her long-term goals, including retirement. Fortunately, our team was able to help her by going back to the basics and setting her up with a retirement savings account. We took the time to explore Monica’s options, which included a 401k, Simple IRA, Self-directed IRA and Roth IRA, educating her on the pros and cons of each.

Knowing the substantial demands on Monica’s time and attention, we also sought ways to help her streamline her financial life and administrative responsibilities. Specifically, Monica needed help setting money aside to pay the IRS for her quarterly taxes. We were able to link her investment accounts to her bank account and arrange for an automatic deduction of the agreed upon amount each month – freeing Monica from having to remember to pay it. Plus, we continue to help her monitor this plan, helping to ensure everything is working as it should and providing routine updates so Monica can feel confident she is on track for her goals.  

This case study is for illustrative purposes only. Individual cases will vary. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Prior to making any investment decision, you should consult with your financial advisor about your individual situation.