Broker Check

Pub Talk Success Story

Background: BPG holds PubTalk’s for young, recently graduated and working individuals (Ages 21-30), that would like to learn more about the Stock Market, Investing Terminology, Budgeting, and their investing options to get a jump start on preparing for their future. The attendee had the goal of getting started investing as well as solidifying a strict budget to save money for the purchase of their first home.

Findings: 

  • After the initial PubTalk, it was agreed to take a full scope look at the individual’s earnings and expenses, so we could properly allocate the amount per month they felt comfortable living on.
  • The individual’s priorities were to put aside money for retirement, start paying off portions of their student loans and saving a majority of their income for their first home.
  • We found the individual’s expenses were 40% of his net income. Which left 60% to allocate for investments and house savings.

Our Solutions:

  • Provide the client with a strict budget to follow to help them stay on track with saving for the purchase of their first home.
  • Integrate the clients spending into a tracking system that provides daily account balances and shows the categories which insufficient spending may be occurring. This is an accountability tool.
  • Of the 60% of income remaining, we allocated 45% of their net income to go straight to a high yielding online savings account for the home purchase.
  • Allocate the remaining 15% of their income to different investment vehicles for tax diversification purposes.

Outcome: After 15 months of sticking to the plan we put in place, at 23 years old, this individual purchased their first home while getting a great start for their future by saving over 15% of their income for retirement!