The Everyday Millionaire^TM

During this stage, clients are thinking about the process of saving for the future. Many in this group witnessed their parents struggling with finances during the boom-and-bust cycles of the 2000s, and they wish to avoid the same fate. As a result, they often save at higher rate and are more interested in learning about financial topics.

We commit to working with Explorers as long as they commit to achieving a 20% savings rate. We help Explorers get started by building a strong financial foundation. This involves starting and fully funding an emergency fund. From there, we help guide our Explorers’ long term savings and investing strategies. Using their long-term goals as a guide, we strive to establish a solid foundation on which to build their financial lives. We help them save for near-term, mid-term and long-term goals, while supporting them in living a fulfilling and balanced life that’s below their current financial means.

At this stage of life, clients are well on their way to becoming The Everyday Millionaire™. Their mantra is, “Save, save, save.” They focus on maxing out their employer-sponsored retirement plans and IRA contributions each year, while also saving in other accounts.

At this stage, we continue updating and refining our Producer clients’ financial plans and investment portfolios to help ensure they continue to meet the challenges of their ever-evolving financial lives. We also check in regularly on the client’s progress toward saving for retirement, providing guidance on how best to remain on track to achieve this significant milestone.

Refiners are those who have achieved The Everyday Millionaire™ status by living below their means and saving as much as possible in employer-sponsored retirement plans, IRAs, health savings accounts (HSAs) and other accounts. The most common question we hear from our Refiner clients is, “Is my plan going to work?”

Our job with our Refiner clients is to gather information on all their savings and investments that they have scattered and squirreled away, and to organize them in a way that allows us to gain a clearer picture of their financial lives. Then, we help refine their investments to better support their overall goals. Many times, this involves helping our Refiner clients transition from working to retirement and from saving for the future to strategically drawing down their assets for income to support their lifestyle in retirement. We also help ensure our Refiner clients’ estate plans are in good order and designed to help them fulfill their legacy goals.