Peter Mu, CFP® ChFC®
When you work with a financial coach from Wealth Cairn, you will begin to discover the values that are truly important to you and what had held you back from accomplishing your goals. You will begin creating a new relationship with money, one that inspires and empowers you.
We want to share with you the story of a client named...say Mario.
When we met Mario he is already very accomplished. He is an account executive at a well-known Silicon Valley enterprise, raised a family, home owner, income property, at the peak of his career and looking forward to retirement in a few more years. Despite all that his conversation about money is that of overwhelm, stress, regret, and fear.
Mario had experienced the ebb and flow of Silicon Valley, watched his 401(k) reduced to 201(k) and then lost again in 2008. He feels that retirement is near and he doesn't have enough, and certainly can't afford to make any more mistakes.
We began our work by exploring what truly is important for him. He discovered that above all else being with and contributing to his family is his true purpose for money.
He decided to sell the rental property in Tennessee and 1031 exchange to a new property in Washington where his family is. This property will continue to produce income in his retirement.
Mario had several 401(k)s from his previous jobs but have not paid close attention to them over the years. He has missed a lot of market returns. We consolidated these accounts and introduced him to a new structured way of investing. His portfolio is now properly allocated for his retirement.
Mario completely eliminated his short term credit card debts, created a Trust, and added liability insurance to protect his income and assets.
We also discovered an opportunity to refinance his mortgage to give him more cash flow each month. As a result he was able to double his savings and reduce income tax. At the end, he still had more money left to remodel the kitchen and complete landscaping.
It's been a six-month journey and Mario did a lot of work! With our help, he has transformed his relationship with money to give him Peace of Mind, Confidence, Hope and a Game Plan.
For Wealth Cairn, we couldn't be more proud. This fulfills our purpose.