Oakland CA | East Bay, Piedmont; Financial Planning and Investing for Young Families

Preparing for Every Possibility:

Getting started as a new family can be overwhelming – your life completely changes once you have a little person depending on you.  Our clients, Jeff and Diane, who are in their 40s, came to First & Main Financial looking for help to insure they were on the right path to meeting their financial needs; especially as they started a new family.  They asked us to help figure out how much they needed to contribute to retirement funds and college savings, how to best fund a new home for their family, and what to do for risk management.

As we do with all of our clients, we went through a detailed data gathering process.  Once the information was received, we upload the data to our secure financial planning software and analyzed the information to produced multiple scenarios; such as different retirement ages, various prices for a new home, and different approaches to investing their assets.  These what if scenarios help assess the overall impact of any changes to their financial plan.

Within each of these scenarios, we projected a probability of success for reaching a life expectancy age with enough assets on which to live.  Most importantly, we showed them the impact of purchasing a new home in the Bay Area and how certain investments vehicles, such as a 529, could help provide college funding for their children.

In addition to reviewing their finances, we reviewed their insurance (Life, Disability, Auto, Renters, Medical, etc.) to assess if they maintained enough coverage.  We helped them to get a quote for Term Life Insurance policies to give them greater liability coverage in the event they need to cover costs for their family.   We also encouraged them to review their estate planning documents, especially since they needed to make decisions about guardianship for their children.

First and Main Financial offered to review their 401(k) options as well as other investment options to assess options that could provide possible greater return.  We also offer our clients a tiered fee schedule for asset management which is considered a good deal compared to the industry averages and starting rates usually charged by other firms.

If you are looking for some financial guidance, whether it’s for a one-time financial plan or continuing advice on your investments, we invite you to meet with a First and Main financial advisor for a free consultation.  We work with a variety of clients, including clients like Jeff and Diane, who are trying to ensure their family is financially secure.  We would be more than happy to sit down with you, assess your current financial situation, and review with you our services to help you navigate your own financial future.