Case Study:

THE SITUATION

Ron and Tammy’s Situation

They’re both have great jobs, but how do they maximize their income?

Ron and Tammy Swanson are just entering a phase of life where their finances are starting to get a bit more complicated.

Ron is a neurosurgeon and recently finished all of his training and is now a fully practicing surgeon. He has six figures of student loans and has enrolled in PSLF but wants to know the best way to approach his student loans to make sure he maximizes the loan forgiveness.

Tammy starting a consulting business for non-profits and her workload is starting to ramp up. She wants to make sure she has structured her business using the right entity to reduce her tax liability.

Now that they have a substantial amount of income they’re wondering which retirement accounts are the best to fund, how much to put towards retirement, and how to become financial independent by their mid-fifties.

Last, they want to start a family in the next year or so and need help planning and understanding the costs associated with starting a family, as well as setting aside money for large purchases, college savings, etc.

Ron and Tammy engage with Medicus Wealth Planning to help answer these questions and more.

THE OUTCOME

The results

After designing and presenting the financial plan Ron and Tammy feel confident in their long-term plan to pay off Ron’s debt, reduce taxes for Tammy’s business, and save for their goal of being financially independent by their mid-50’s.

Now, as they’re approached by sales people with pitches towards certain financial products or investments they can evaluate opportunities as a part of their comprehensive plan.

They are also comfortable in starting their family and know they can still reach their goals even if Tammy pulls back a bit at work to focus on raising their family.