Sports Industry Professionals

Josh and Lisa live in Lake Oswego with their son, Kallen, 10, and daughter, Cydney, 13. Both are sports apparel store employees at the E-band level with generous benefit packages. They plan to buy a vacation home, travel extensively, and send their children to any college of their choice. Once Lisa retires, she wants a second career giving back, while Josh would like to coach high school football. McGee Wealth Management specializes in helping employees maximize their company benefits, build and manage wealth, and mitigate income tax liabilities through planning.
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Planning Highlights
The financial planning process started with Josh and Lisa sharing their expectations, hopes and goals. They provided financial information, current benefit options, cash needs and cash flows, tax returns and estate documents for review.

• Non-qualified stock options, non-qualified deferred compensation and 401(k)s were evaluated. New strategies were suggested to maximize tax deferrals and wealth building.
• Maximized 401(k) contributions. Adjusted asset allocation for risk/reward.
• Worked with CPA regarding stock option exercise and tax strategies. Coordinated tax plan with McGee’s wealth management plan.
• Reviewed cash flows, spending and accumulation strategies.
• College planning was detailed and college consultant referred for future coaching.
• Avoided using Employee Stock Purchase Plan (ESPPs) stock for consumer spending. Maximized the purchase of ESPPs at the 15% discount.
• Estate planning: After a review of the current will, we referred attorneys to revisit the estate documents. It was apparent after organizing the clients’ financial information that the current plan was out of date. A corporate trustee was recommended as a backstop to individual trustees named.
• Reviewed all life and casualty insurance. Took advantage of the maximum allowed group benefits. Estimated the estate capital needs necessary in the event of early death of either parent.
• Charitable giving: A donor advised fund is a cost effective way to establish a philanthropic fund. The fund can be available in future years for gifts and a good tax deduction tool during high earning years. A values statement can be later shared with children.