CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: December 9, 2020
MEETING: 2020 Q4 / Year-End Review
ADVISOR: Sarah Chen, CFP® | Clearwater Wealth Partners
LOCATION: Video Conference
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DISCUSSION SUMMARY
Portfolio ended 2020 at $837,000, a strong recovery from the March lows. The 60/35/5
allocation is now fully implemented. The advisor reviewed the year: emergency
meeting in March, IPS amendment in June, allocation transition completed in Q4. The
Chens navigated the crisis without making reactive portfolio changes and the
portfolio recovered fully.
The 529 college savings accounts were formally opened in Q4 2020 after being deferred
twice. Maya's account received $5,000 and Eli's received $5,000 as initial
contributions. Both accounts are in age-based funds. The advisor recommended
increasing annual contributions to $4,000 per child beginning in 2021 to begin
closing the college funding gap, particularly for Maya who starts college in 2029.
Home purchase planning resumed. The Chens confirmed they are ready to begin active
searching in Q1 2021 with a target close date of mid-2021. ACCT-CASH holds $187,000.
The advisor noted that while the original $310,000 down payment target may not be
fully reached, the Chens have sufficient reserves for a down payment of
$200,000–$220,000 on a $500,000–$550,000 home, keeping the portfolio intact. The
advisor will prepare a home purchase impact analysis modeling the post-purchase
portfolio trajectory.
Tax planning for 2020: total NLTK vest income for the year (two vests at $31 and $34)
added approximately $40,650 of W-2 income. No capital gains realized. Tax-loss
harvesting opportunities were limited in 2020 given the rapid market recovery.
Year-end summary sent to CPA.
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ACTION ITEMS

1. Set up 529 annual auto-contributions: $4,000/year Maya, $3,500/year Eli — by
January 2021
2. Prepare home purchase impact analysis (portfolio post-down-payment) — by
February 2021
3. Send TY2020 year-end tax summary to CPA — by January 20
4. Begin home purchase search Q1 2021 — Chens to contact realtor
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CONFIDENTIAL — For client use only. Not for distribution.
