Apr 28, 2022
YFP Co-Founder & Director of
Financial Planning, Tim Baker, CFP®, RLP® is joined by YFP Planning
Lead Planners, Kelly Reddy-Heffner, CFP®, CSLP®, CDFA®, and Robert
Lopez, CFP® to walk you through a financial planning case study on
growing a family, paying off student loans, and buying a
Key Points From This Episode
- Introducing YFP Lead
Kelly Reddy-Heffner and Robert
- Describing the fictitious family of today’s
case study: Jason and Lauren Jones.
- The Joneses’ earnings, expenses, and
- Their goals and concerns.
- How their cash position fits in the context of their
goals and debt.
- The question of whether or not to go the PSLF
- The tendency to get caught up emotionally
without considering the mathematics.
- How the Joneses should tackle the
wealth-protection aspect of their financial planning.
- Speculation of whether a whole life policy is
- The benefits of having one joint credit card
- What the Joneses should consider with regards
to the mortgage conversation.
- The power of financial planning.
- The wealth-building opportunities for the
Joneses’ emergency fund.
- The ideal amount to put aside as an emergency
- Investment options and
- How to approach college education
future prospects of a supplemental income for the
Links Mentioned in Today’s Episode