Drew and Trina are a couple in their mid-thirties with three kids between the ages of seven and
13. One of the children has been diagnosed with a serious but treatable illness.

Drew is a senior management consultant and Trina is a freelance film props specialist. While
they bring in a healthy income, their child’s illness — which requires medications not covered by
public health insurance — has destabilized their finances and created uncertainty. Drew has
extended health insurance through his employer so the couple decided Trina would cut back her
work hours so she could take their sick child to doctor’s appointments and stay with him on days
he needs to be kept in hospital.

 

Stressed out and anxious: How we helped

In addition to worrying about their sick child, Drew and Trina felt stressed out and anxious about
the future. A family friend they confided in suggested they talk to Rubach Wealth.

 

Here’s what we did for them:

 

  • First off, some clarity. Drew and Trina held their savings and investments in multiple
    accounts and were unsure about how much they had in total and whether they had
    enough to take them through their child’s treatment and recovery. Rubach Wealth sat
    down with the couple to put together a complete and accurate picture of their finances.

 

  • Cash flow backed by tax planning. Drew and Tina were drawing from their savings
    and investments to compensate for Trina’s reduced income. As we developed their
    financial plan, Rubach Wealth worked with a tax accountant to ensure the couple would
    not get hit with a big tax bill from divesting some of their assets.

 

  • Future-proofing insurability. Knowing it would be hard for their sick child to get
    insurance in the future, we talked to Drew and Tina about locking in insurance for their
    other two children today. They agreed it was important to future-proof their kids for
    insurability and purchased policies on an automated monthly payment plan.

 

  • Extra help at home. Drew and Trina were both stretched thin from trying to juggle work
    and taking care of the kids. Rubach Wealth helped them find a part-time nanny who
    could provide some relief and make it easier for Trina to take on more projects. While
    this doesn’t fall under financial advice, it’s not unusual for Rubach Wealth to provide
    concierge-type services to further support the families who come to us for help.

 

Looking to the future

The work we did at Rubach Wealth put Drew and Trina on more stable financial ground. But
they still faced a lot of uncertainty as their child continued to go through treatment. We’ve
scheduled quarterly check-ins with Drew and Trina over the next year to see how we need to
change their plan as their needs evolve.

 

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