Case Study: Sara and Start-Up Plan, Debt Repayment and Insurance for Fast Growing Business
Sara (not her real name) hired Old Peak after launching her business. It is growing rapidly. She is extremely busy with her business and young family. She and her husband, Tom, wanted a financial planner who could help her address multiple financial issues, do it quickly, and work with them as their lives changed.
In two years, we:
• Helped them build a detailed cash flow plan, balancing competing business and personal priorities.
• Created a debt repayment strategy, addressing education loans, business loans and their home mortgage.
• Helped her establish a company 401k plan, critical for attracting and rewarding employees.
• Created a savings strategy to prioritize 401k, 529 college savings plans and emergency fund savings. We also weighed the importance of each savings bucket relative to early debt repayment.
• Helped her buy an umbrella life insurance policy and significantly increase her life and disability insurance coverage – both steps which protect her and her family while she continues to build her business.
• Partnered with an estate planning attorney to update their estate planning documents with appropriate trust documents in order to protect their assets
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