Barbara

Barbara started working with us 3 years ago. She initially came to Lighthouse Financial Advisors, Inc. to have her tax returns prepared professionally. It was the first year in which she started to earn a significant income. During that year she had relocated to change jobs; the new job was the result of using a business agent. Her taxes had been prepared over the last few years by either a friend or one of the nationally known tax preparations firms. We found quite a few errors on her prior years’ returns and were able to amend and claim an additional refund for overlooked business expenses of approximately $1,500 for two years. During our first meeting, we stressed the importance of record keeping and the fact that overlooked deductions could be costing her over $1,000 per year. We emphasized that we work with clients all year round providing them with comprehensive financial planning solutions. We worked with Barbara during that tax season and showed her that if she had worked with us over the last year, her refund would have been higher. After filing her tax return, we lost touch with Barbara. We did not hear from her until the tax season of the following year. Barbara had experienced many life transitions during this time frame. She had lived and worked three different jobs in three different cities. If she had taken full advantage of our services during these life and financial transitions instead of trying to take care of everything on her own, she would have been more organized and consequently would have saved more tax dollars.

After coming to this realization, Barbara decided to use of all our services. We filed her tax returns and moved forward reviewing the other financial areas of her life. We consolidated all of her retirement plans in one place, reviewed all of her insurance and emphasized the importance of disability insurance for a young single professional. After we had “crossed our T’s and dotted our I’s” we started laying out a financial game plan for the future. One of Barbara’s goals was to buy a house, so we helped her understand the size house she should look for, along with all the cost and tax advantages associated with home ownership. Barbara was relocated to a new city. She began looking for a house that met the parameters we had discussed during our meetings. She thought she had found the right place, but after discussing the cost with us, we determined that it was not a good investment for her. She continued searching and soon found a house that met the parameters we had discussed. The first house was not in Barbara’s price range and would have left her financially strapped. The second house turned out to be a better house and a sound investment.

Barbara feels that without LFA as a partner she would have made many wrong decisions, instead she working to lay the foundation necessary to achieve financial freedom. More importantly, she also realized the value of having a partner that could guide her to make decisions keeping only her best interests in mind. Finding the right house is just one example of how we have helped Barbara. By establishing a trusting relationship with Lighthouse Financial Advisors, Inc., Barbara is assured that she is financially sound and has someone to guide her through more life transitions in the future.