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Presenting to Prospects – Meet the Rodriguez Family

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Have you ever had a prospect who mistakenly believes they are on track to meet their goals?

It might be time for them to meet Alesandra and Luis Rodriguez.

Alesandra and Luis are new eMoney sample clients. They’re a great example of a family trying to manage finances on their own, but in need of a little extra guidance.

On the surface, they’re doing great. They’re in their early 30s and earn six-figure salaries. They’re contributing to their 401(k) plans, and they’ve even opened 529 accounts for their two young children, Ariana and Alberto. They have a net worth of over $900,000 and over 50 percent equity in their home with no additional debt.

So it might surprise your prospects to learn that this same client only has a *43 percent probability of success in achieving their goals. Unfortunately, the Rodriquezes aren’t looking at their entire financial picture.

So let’s take a closer look at the Rodriguezes to see what important steps are missing from their self-guided financial plan. First, they’re not contributing enough to fully fund their children’s education goals which could impact important retirement assets later.

Next, if we look at their income, they should be contributing more to their 401(k) plans, and leveraging the tax advantages of the accounts. And finally, while they’re both strong earners, they’ve let their living expenses balloon as their salaries have increased.

So how do you put them on track to achieve their goals? Foundational Planning is a great tool for these potential clients. Let’s take a quick look at the Recommended Plan we built, which follows a few simple steps to set them on the right track.

It starts by delaying retirement and the start of their social security benefits.

Then, we reduce their living expenses to a more sustainable level.

We also increase Alesandra and Luis’s 401(k) and 529 contributions to meet the demand of their funding goals

Once we’ve taken everything into account, the plan jumps from a *43 percent probability of success to a healthy *90 percent.

Reviewing the situations of sample clients makes it easy to engage prospects and clients in planning-led discussions that can help them prepare for every life stage!

*Percentages may change based on current capital market assumptions and sample client updates.


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