Next Gen Wealth

Young Investor Seeks Guidance to Grow Savings.

The Situation

A business executive in his 30s is making half-a-million dollars a year, has a nice lifestyle, and yet has little to show for it in terms of wealth accrual. He comes to Singer Xenos looking for guidance on where the money is going – and how he can create a meaningful wealth management plan.

The Challenge

The real challenge is coming up with a plan that the client can follow easily and simply – and in a way that doesn’t impede or impact his quality of life.

The Solution

Working closely with the client, Neil helped create a budget and financial plan to identify the maximum amount of money that could be saved without the client drastically changing his lifestyle. He then devised a three-pronged approach that would allow the client to build significant wealth over the next 10 to 20 years.

First, Neil advised the client to take advantage of their 401K retirement plan, maximizing contributions in order to reduce taxable income and put the power of compounding interest to work in a tax deferred account. Second, Neil recommended a dollar cost averaging strategy to put additional funds to work in a brokerage account on a monthly basis. Lastly, Neil put the client on track to pay off his student loans and mortgage ahead of schedule, thereby shielding him from unnecessary added interest and fees.

Awards & Recognitions

Awards and Recognitions
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