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Case Clients:

Jacob

Age:
39
Occupation:
Chef
Occupation:
Invest in a commercial property and start up his own restaurant.
The Situation

Jacob has been the head chef at two prominent restaurants in his city over the last 10 years. Dedicated to his career and love of cooking, he spends all his time working which has led him to save much of the money he’s earned. His biggest purchase was in his early 30’s when he bought a small house equipped with an amazing chef’s kitchen, of course. He wants to keep his current house and use his savings smartly and open up his own restaurant. The problem is he has no idea where to begin with such a big venture and is also concerned that he will deplete his savings account. He hopes to work with a finance professional who can not only analyze whether he should buy or lease, but also advise on what steps to take to start his business.

The Approach

First, a big congratulations for taking the leap into self-employment 🎉  Then, we walk through how taxes change for self-employed individuals and how to plan ahead. We go over retirement accounts options, weigh the pros and cons, and help open and fund the correct accounts. Since we're fee-only, we do not produce insurance policies or receive commissions from them, but we review their situation and refer to our trusted insurance partner to implement the recommendations.

The Results

Jacob was able to successfully and painlessly make the transition into self-employment.


Has an automated system to save a portion of income each month for: 

  • Taxes

  • Retirement savings

  • Insurance coverage 

Now he can focus his energy towards growing his business.

Caplo Advisory Effect

Jacob has done a great job of utilizing their company retirement programs plus they own a nice home, but other than that, the rest of their money is sitting in their savings account as they have been unsure of where and what to invest in.

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