PROFESSIONALS: It's never too early to start planning

We are offering a FREE "Professionals" Kit with useful information that will help you start planning for your family's financial future

PROFESSIONAL RESOURCE CENTER:

Life moves quickly and with new additions or changes to your family, it's hard to start thinking of the future. It's not uncommon to not know where to begin or how to prioritize your goals. With the Hegarty Beattie Stewart Group of Wells Fargo Advisors, we can help you establish those goals so you can get your financial future in line. More importantly, as your life changes, your planning should change as well. We are here to help and be with you... all along the way.

How We Can Help You

Goal Prioritization

It's not uncommon to have several goals that your family would like to accomplish, with varying timelines. We can help you establish each of your financial goals, establish comprehensive timelines and appropriate savings plans to help accomplish those goals. We will help you determine the following:

Are you saving enough for retirement?
Do you have the right plan of action to pay for your children's education?
Debt Analysis: Not all debt is created equal. We will help you determine which to pay off first

Planning for Education Costs

It's no secret that higher education comes at a cost. If you don't start planning for this right away, the thought of college could be too out of reach our lead to massive student loan debt. We encourage parents and grandparents to start this planning as soon as possible and we can help by:

Determining future costs of specific college or universities
Establishing an approproriate savings plan using a tax advantaged investment account like a 529 College Savings Plan
We will also help ensure that if we use the correct plan if your home state has a state income tax, as sometimes contributions can be deductible

Planning for the Worst

No one likes to talk about it but part of our job is to help families plan for the worst. What happens if a spouse or parent dies unexpectedly? What does it look like for the family after they are gone? We can help by:

Using our eMoney Insurance Analysis, we can determine the exact amount of life insurance your family needs to maintain their lifestyle
We greatly encourage our clients to get an updated Estate Plan, that includes documents like a Will, Guardianship, Power of Attorney, Living Will and Health Proxy.
Analysis of other forms of insurance, such as having adequate Home, Automobile, Disability and Long Term Care coverage.

Trust services available through banking and trust affiliates in addition to non-affiliated companies of Wells Fargo Advisors. Wells Fargo Advisors and its affiliates do not provide legal or tax advice. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.

Insurance products are available through non-bank insurance agency affiliates of Wells Fargo & Company and underwritten by non-affiliated Insurance Companies. Not available in all states.

Case Study: Where to Start?

Paul and Katie are young parents, with a 4 year old daughter and a newborn son. They have no idea how to start planning for their financial future and are unsure where to put their monthly savings to work. They have not started any college savings plans and they have contributed minimally to their retirement plans through work. They hope their children both go to their Alma Mater, a popular in-state University.

Paul (39 years old) and Katie (36 years old)
Retirement Age & Income: ???
Estimated Cost of Tuition, Room & Board in today's dollars: $25,356 per year

Paul has a 401k worth around $10,000, Katie has a 403b plan worth $7,500

Solution:

After sitting down with the team's Financial Advisor, Paul and Katie were able to establish both their retirement and education goals. Using the eMoney planning software, Brian helped show Paul and Katie know exactly how much they need to save and invest in order to accomplish both goals. If they contribute 10% of their income toward their retirement plans, they are able to retire when Paul is 67 and Katie is 65 and spend $120,000 per year during retirement. Brian also suggested they establish 529 College Savings plans for their kids. To meet their college savings goals, Paul and Katie need to save $8,000 per year for their daughter and $6,000 per year for their son till both children are age 18.

This information is hypothetical and is provided for illustrative and informational purposes only. It is not intended to reflect the performance of any specific investment, or security and is not representative of any particular structure or situation.