Young Family

Latest Winter 2018 Quarterly Newsletter This issues includes reflections from Brian Jones, CFP, on recent market volatility as he draws parallels to the most recent Super Bowl. Kevin Donovan, CFA, discusses how market losses can be tough but in general the market produces positive returns. Mark your calendars for our annual Shredding Event on May 18th and read about which documents to keep versus shred. Lastly, we share the recent Washingtonian Magazine article that quoted Jessica Ness, CFP, and her advice for handling children's allowance. January 2018 Audio Update In our first podcast of 2018, join us as David Greene, Kevin Donovan, Jessica Ness and Brian Jones share their thoughts on what worked in 2017, what to expect in the markets in 2018 as well as an update on the new tax bill just passed by Congress. Newsletter & Podcast Archive

The Situation

When Brian and Emily learned that were expecting their first child, their excitement was soon tempered by the realization that they now had to plan for a family of three. Both Brian and Emily were busy young professionals; between work, travel, and preparation for their first child, both realized that they did not have the time to devote to managing the complexities of their day-to-day financial affairs. After meeting with CJM, it was evident that neither Brian nor Emily had group life insurance coverage that was sufficient to protect their current lifestyle, and they did not have an estate plan in place. Providing for a college education was also important to them, but they were unsure of what options were available and where to start.

The Solution

Brian and Emily were able to obtain sufficient, cost-effective life insurance coverage through the help of CJMís insurance team. This ensured that they would be able to maintain the lifestyle they have worked hard to build in the event something happened to one or both spouse(s).

Their CJM advisor also discussed the various documents needed to establish a comprehensive estate plan and connected Brian and Emily with an experienced estate planning attorney to help draft the appropriate documents, which included a trust to proactively ensure that their child will receive any wealth at a pre-determined and appropriate age. With Brianís and Emilyís permission, CJM was able work with their attorney to provide organized financial documents to ensure a timely, seamless process.

Unsure of how to begin saving for college, their CJM advisor walked them through the various funding strategies and techniques available to them. By having this discussion, the CJM team was able to run projections to create a clear, manageable plan of action for Brian and Emily to meet their objective. CJM also established separate 529 college savings plans for both Brian and Emily, maximizing the current tax advantages for funding their stateís 529 plan.

Value To The Client

Brian and Emily now how the piece of mind that the building blocks are in place to provide an education for their child and the appropriate legal measures have been taken to protect and preserve their wealth should happen to either of them. Funding their childís college education is now a much less daunting goal and they have been able to incorporate excited family members into their planning. The CJM professionals were able to help Brian and Emily prioritize and lay the foundation towards achieving their goals, while protecting them from unforeseen risks.

More Solutions

At CJM we understand that no two clients are alike and real world problems require practical and timely solutions. The CJM team brings together the best and the brightest in the areas of investment, tax, insurance, financial planning & wealth management to resolve each clientís particular issue(s).