Case Study*

Married with Young Children


Caleb and Ashley


37 and 35


Engineer and Nurse

Primary Goal:

With the birth of their second child, Amy, can they financially afford to allow Ashley to transition into part-time work so they can spend more time with their two young children during their developmental years?

Caleb and Ashley just had their second child, Amy, and realize they want to be able to have the flexibility to be around their children more while they are young. Caleb and Ashley recently purchased a new home, are working towards paying off their student loan debt, and have a desire to start saving for their children’s college.

The Challenge:

Despite both Caleb and Ashley having good jobs, they are unsure if they can decrease their income while still being able to work towards the various goals that they have; paying down debt, saving for retirement and starting to plan for the cost of their kids college

They also wondered:

  • Is there a better way to pay off our student loans?
  • How much life insurance should I have in place now with two young children?
  • Should I have a 15-year or 30-year mortgage?
  • Is an HSA account a good thing to have?
  • How should we be invested in our employer-sponsored retirement accounts?

The Approach

The first step for Caleb and Ashley was to meet with a financial planner, where they could talk through their current financial situation and the goals that they are trying to pursue as a family. After focusing on their specific goals and supplying their advisor with the requested financial documents, a customized financial plan was developed.

The Result

After several meetings and discussions with their advisor, Caleb and Ashley were able to:

  • Identify their current cash flow situation, determining that Ashley could work part-time while still pursuing their other goals.
  • Determine the best repayment plan for their student loan situation, factoring in potential forgiveness options, tax filing status, and income driven repayment options.
  • Establish a college savings plan for each child, understanding the different savings options available and how much to contribute for each child
  • Create an investment portfolio for each of their employer-sponsored retirement plans that aligns with their financial goals.

With a financial plan in place, Caleb and Ashley can have a peace of mind that they are working towards their retirement goals, while being able to spend more time with their kids while they are young.

*The above case study is hypothetical and does not involve a Hyperion Financial client. No portion of the content should be construed by a client or prospective client as a guarantee they will experience the same or certain level of results if Hyperion Financial is engaged to provide financial planning or investment advisory services.

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