Background: Shaye, a fourth-year attorney at a law firm in Irvine, wanted to take control of her financial situation. Struggling with student debt management while wanting to work on retirement, Shaye felt lost and unsure of where to begin. However, following a student loan seminar by the SpinnLaw team, Shaye scheduled a phone call to set up a game plan.
Discovery: During our initial meeting, we discovered that Shaye’s federal student loans were above 6% interest, she was unsure which work benefits to leverage, and her lack of a budgeted savings plan and free cash flow was holding her back from her goal of paying off her student debt.
Proposal: We looked to create a collaborative and time-centric savings plan, help Shaye with her 401(k) and HSA, begin a wealth-accumulation program, and other benefit decisions. After gaining a deeper understanding of Shaye’s savings goals, and building a trusted relationship with a financial advisor, we were able to recommend a monthly automated savings plan, identify an appropriate timeline, and allocate money to pay off her loans.
Opinions expressed herein are subject to change without notice and are not intended as investment advice or to predict future performance. Investing involves risk, including the potential loss of principal. No investment can guarantee a profit or protect against loss in periods of declining value. Intended for educational purposes only and not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.