• Analysis of the adequacy of their insurance coverage for property and casualty risks (home, auto, umbrella, other property/vehicles, etc.)
• Life insurance needs analyses for each spouse and the adequacy of existing coverage

Meet your new clients, Nick Beverly (35) and Krista Conley (29). While Nick has interacted with his companys 401k representative, this is the first time he and Krista will be working with a Financial Planner. They are excited to get the process started with you.

For Krista, Instagram is a way of life. After dropping out of college she spent her early twenties as a full-time nomad and found a way to build a 6-figure blog to support a lifestyle that enabled her to travel around the world and get paid to post about it. Krista lives for the now. She is free-spirited, creative, talented and warm; people naturally gravitate to her.

Nick is a respected Senior Project Engineer and followed a more traditional and very rigorous path. He attended Massachusetts Institute of Technology, graduating with a degree in Urban Science and Planning with Computer Science and minor in Energy Studies. After completing his work at MIT, he went on to earn an MBA. He is determined, fiercely loyal and likes to take things one step at a time. Nick really enjoys his work at EnCorp and is excited for the future.

In early 2017, at the suggestion of a college buddy, Nick joined Instagram to follow socially responsible investors and companies. After a few weeks of exploring Nick found Krista and began liking her photos. They then exchanged flirty likes and DMs and spent hours on Facetime. One month later they met in person and it was love at first sight. They were married in June 2017 in Bora Bora on the beach and have been blissfully married for three and half years.

After a two-month honeymoon they purchased a beautiful $750,000 home in Scottsdale, AZ that checked all their boxes, even though it was a little over their budget. Their mortgage is a 30-year term with a balance of $510,000 at a 6% interest rate. Theyve had some trouble with their credit in the past but have been working diligently to improve it. Krista even reached out to a credit building service to see if they wanted to sponsor her.

Kristas career as a self-employed travel blogger has been wildly successful resulting in an annual income of $350,000/year (1099 income). She earned an additional $25,000 from sponsorship contracts. Unfortunately, the 2020 pandemic hit Krista hard. Many of her contracts fell through and her income dropped to $30,000. Although encouraged by other influencers, bloggers and Nick to create a SEP IRA, she forgot to do this and now doesnt think its worth the effort with her income level.

EnCorp has been the perfect company for Nick; he manages a remote team and is able to work remotely. He feels equally empowered, excited and challenged in his work at the firm and even received a recent promotion. His annual salary is $225,000. Nicks recent promotion at EnCorp awarded two different types of stock options. Nick isnt sure what all of these options mean but signed up for each of them. Nick receives an annual grant of 500 shares as an Incentive Stock Option (ISO), which vests over 4 years at 25% each year. EnCorp is currently valued at $60/share and the growth is projected to be 15% each year for the next five years. Nick received his ISOs at a 15% discount from the $60/share price when the options were issued.

In addition to the Incentive Stock Plan, Nick received Restricted Stock Units (RSUs). Each year in Nicks role, he will receive $15,000 in RSUs that will vest in four years. The number of shares will be based on what the share price would be. For this year, Nick received 250 shares that will vest in four years.

Nicks company offers a 100% match for the first 3% and a 50% for the next 5% he contributes to his 401k; however, Nick stopped contributing with Kristas decreased income.

Krista and Nick both appreciate the finer things in life. They are aware of their spending habits and open to budgeting but do not want to feel stifled. Organic grocery delivery is one area that cannot be compromised. Kristas influencer partnership with Hello Fresh requires it. Nick just made the last payment on his Prius and Krista leases a Range Rover for $899/month. With the Prius paid off, Nick has the goal of purchasing a Tesla Model X. Their credit card debt reached $20,000 in December 2020.

Nick is particularly interested in socially responsible investing and has dabbled with it a little. Krista is freer with how she invests and prefers to utilize apps like Robinhood to help her. Both Nick and Krista were able to come into their marriage with some money saved. Nick invested their money together in a joint investment account and they had been able to save more money before the pandemic hit. Nick and Krista made several wise investments like buying Tesla before the Tesla stock skyrocketed in 2020. Nick feels like they have missed out on bitcoin and is interested in learning more about whether this would be another wise investment for them to make. Krista doesn't follow the stock market much at all but is interested in bitcoin because of all she's seen on TikTok.

Surprise! Just last week Krista confirmed that she is pregnant their first child. She is due July 2021. They are looking forward to designing the babys nursery and want to hire a full-time nanny.

Nick is coming to the meeting looking for advice on what he needs to do with his recent stock options. He is also interested in discussing early retirement. The same friend who introduced Nick to Instagram is planning to retire at 40 and is part of the FIRE movement. Nick is interested in this idea and the minimalistic lifestyle but is pretty sure Krista wont have any of it.

Kristas main concern is what her career and future hold. She is playing with the idea of going back to school to finish her degree. She is also considering what doubling down on influencing would amount to or even what a more stable PR/Marketing role might look like. Ultimately, she wants to live how they did before the pandemic, traveling every other month and enjoying the now.

Both Nick and Krista are anxious to plan for the arrival of their new baby and how they need to handle the severe decrease in Kristas income. They would love to discuss estate planning options and ideas as they have not given much thought to it.

Additional and secondary concerns for the couple are supplemental life insurance options, education funding for the baby and future assistance for Nicks aging parents who may need help down the road, they are not in the best of health.

They are eager to learn and understand what they have and what options they have and look forward to meeting with you for the first time.

Life Insurance Summary Base Facts Prepared for Nick Beverly and Krista Conley This report lists your life insurance policies and shows the amount of coverage for each person insured. Insured: Nick Beverly Nick's Group Life Insurance Death Benefit: $225,000 Purchase Date: Upon Employment Owner: Nick Beverly Term (years): n/a Cash Value: $o as of 1/02/2021 Primary Beneficiaries: Krista Conley (100.00%) Contingent Beneficiaries: Insured: Krista Conley Krista's Life Insurance Policy Death Benefit: $125,000 Purchase Date: 1/5/2016 Owner: Krista Conley Term (years): 15 Primary Beneficiaries: Nick Beverly (100.00%) Contingent Beneficiaries: Institution: EnCorp Type: Group Purchase Date: Upon Employment Premium Payer: EnCorp Premium Term (years): Lifetime Basis: $0 Institution: Ameriprise Type: Term Nick's Group Life Insurance (Spousal Insurance) Death Benefit: $25,000 Policy Number: 1234870224 Insured: Nick Beverly Institution: EnCorp Type: Group Annual Premium: N/A Exclusion Amount: $o Premium Payer: Nick and Krista (Joint/ROS) Premium Term (years): 15 Cash Value Growth Rate: No Growth (0.00%) Policy Number: 4780004567 Insured: Krista Conley Annual Premium: $253 Exclusion Amount: $0 Policy Number: 232-55478 Insured: Krista Conley Owner: Nick Beverly Term (years): n/a Primary Beneficiaries: Nick Beverly (100.00%) Contingent Beneficiaries: Premium Payer: EnCorp Premium Term (years): Lifetime Annual Premium: Employer Paid Exclusion Amount: $o Expense Details Prepared for Nick Beverly and Krista Conley LIVING EXPENSES Current Amount (today): $20,896 Details Range Rover Lease: $899 Food: $2,300 Eating Out: $1,200 Utilities: $1,400 Mortgage: $3,597 Insurance: $800 Pool Maintenance: $500 Personal Assistant (for help managing Instagram): $1,500 Housekeeper: $600 Landscaping: $400 Shopping: $1,400 Amazon: $850 Travel Expenses (decreased significantly since pandemic): $500 Entertainment: $1,200 Health & Fitness: $300 Personal Trainer: $650 Personal Care: $500 Tax Payment: $1,800 Cash: $500 Life Insurance Summary Base Facts Prepared for Nick Beverly and Krista Conley This report lists your life insurance policies and shows the amount of coverage for each person insured. Insured: Nick Beverly Nick's Group Life Insurance Death Benefit: $225,000 Purchase Date: Upon Employment Owner: Nick Beverly Term (years): n/a Cash Value: $o as of 1/02/2021 Primary Beneficiaries: Krista Conley (100.00%) Contingent Beneficiaries: Insured: Krista Conley Krista's Life Insurance Policy Death Benefit: $125,000 Purchase Date: 1/5/2016 Owner: Krista Conley Term (years): 15 Primary Beneficiaries: Nick Beverly (100.00%) Contingent Beneficiaries: Institution: EnCorp Type: Group Purchase Date: Upon Employment Premium Payer: EnCorp Premium Term (years): Lifetime Basis: $0 Institution: Ameriprise Type: Term Nick's Group Life Insurance (Spousal Insurance) Death Benefit: $25,000 Policy Number: 1234870224 Insured: Nick Beverly Institution: EnCorp Type: Group Annual Premium: N/A Exclusion Amount: $o Premium Payer: Nick and Krista (Joint/ROS) Premium Term (years): 15 Cash Value Growth Rate: No Growth (0.00%) Policy Number: 4780004567 Insured: Krista Conley Annual Premium: $253 Exclusion Amount: $0 Policy Number: 232-55478 Insured: Krista Conley Owner: Nick Beverly Term (years): n/a Primary Beneficiaries: Nick Beverly (100.00%) Contingent Beneficiaries: Premium Payer: EnCorp Premium Term (years): Lifetime Annual Premium: Employer Paid Exclusion Amount: $o Expense Details Prepared for Nick Beverly and Krista Conley LIVING EXPENSES Current Amount (today): $20,896 Details Range Rover Lease: $899 Food: $2,300 Eating Out: $1,200 Utilities: $1,400 Mortgage: $3,597 Insurance: $800 Pool Maintenance: $500 Personal Assistant (for help managing Instagram): $1,500 Housekeeper: $600 Landscaping: $400 Shopping: $1,400 Amazon: $850 Travel Expenses (decreased significantly since pandemic): $500 Entertainment: $1,200 Health & Fitness: $300 Personal Trainer: $650 Personal Care: $500 Tax Payment: $1,800 Cash: $500