CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: December 11, 2019
MEETING: 2019 Q4 / Year-End Review
ADVISOR: Sarah Chen, CFP® | Clearwater Wealth Partners
LOCATION: Conference Room A, Clearwater Wealth Partners
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DISCUSSION SUMMARY
Portfolio ended 2019 at $521,000 — a strong year driven by the Q3 cliff vest
reinvestment and broad equity gains of approximately 31% (S&P 500). Asset allocation
was reviewed: at 72/26/2, the equity component has drifted slightly above the 70%
target but remains within the 5-point rebalancing band. The advisor will trim
equities modestly in January 2020 to bring allocation back to target.
Tax summary for 2019: NLTK vest income (Q1 and Q3 vests combined) added approximately
$62,000 of W-2 income. The $8,400 TLH harvest offset realized capital gains from
rebalancing, resulting in net capital gains of approximately $1,200 for the year. The
advisor prepared the year-end tax package for the CPA, including all vest
documentation, trade confirmations, and the TLH summary. Estimated Q4 tax payment
was confirmed as submitted.
The home purchase timeline was confirmed: the Chens plan to begin active searching
in Q1 2020, with a target closing date of Q2 or Q3 2021. ACCT-CASH is now at
$198,000. At the current savings rate, the target of $310,000 will be reached by
mid-2020. The advisor recommended that no additional aggressive savings be made once
the $310,000 target is reached — the excess should be redirected to the investment
portfolio.
529 accounts: Maya is at $13,200 and Eli is at $10,900, both on track. The Chens
confirmed automatic contributions will continue. The advisor raised the possibility
of opening 529 accounts early in 2020 to capture the state deduction — accounts are
already open, so this was confirmed as on track.
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ACTION ITEMS

1. Rebalance equity to 70% target in January 2020 — trim approximately $10,000 in
equity
2. Send TY2019 tax package to CPA — by January 20
3. Redirect savings above $310,000 ACCT-CASH target to investment portfolio —
monitor from Q2 2020
4. 529 annual contributions continue — January auto-contributions confirmed
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CONFIDENTIAL — For client use only. Not for distribution.
