CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: September 13, 2023
MEETING: 2023 Q3 Quarterly Review
ADVISOR: Sarah Chen, CFP® | Clearwater Wealth Partners
LOCATION: Conference Room A, Clearwater Wealth Partners
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DISCUSSION SUMMARY
Portfolio stands at $1,065,000, building on the milestone reached in Q2. Equity
markets continued their 2023 rally. The advisor noted that the portfolio's 60% equity
allocation has benefited from the AI-driven market enthusiasm while the 35% fixed
income allocation has stabilized as interest rates plateaued.
The Q3 agenda focused on post-liquidity-event portfolio construction. With NLTK
concentration now below 1.5%, the portfolio's equity sleeve is now broadly
diversified across U.S. large cap, international developed, emerging markets, and
U.S. small/mid cap. The advisor reviewed the current weights against target weights
and confirmed the portfolio is well-positioned. No rebalancing was required.
The bucket strategy was revisited as a planning preview. With retirement
approximately 9–10 years away for Sam and 12 years for Alex, the advisor modeled
a preliminary bucket structure based on current spending. Estimated annual
retirement expenses of $120,000–$140,000 would require Bucket 1 of $240,000–$280,000
(two years cash), Bucket 2 of approximately $420,000–$490,000 (bonds), and the
remainder in Bucket 3 (equities). At current trajectory, the portfolio is on track to
support this structure by retirement. A formal retirement income analysis will be
prepared in 2025.
The DAF grant plan was introduced: Alex identified three organizations — the local
school foundation ($8,000), the regional food bank ($10,000), and an arts
organization ($7,020). Total grants of $25,020 fully depleting the 2023
contribution. The advisor confirmed these grants can be submitted before year-end
and will create no additional tax deductions (the deduction was taken when shares
were contributed in April).
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ACTION ITEMS
1. Submit DAF grants before December 31: school foundation $8,000; food bank
$10,000; arts org $7,020
2. No portfolio rebalancing required — confirm allocations remain within IPS bands
at year-end
3. Prepare formal retirement income analysis for delivery at Q1 2025 meeting
4. Confirm Q4 estimated tax payment with CPA — by September 30
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CONFIDENTIAL — For client use only. Not for distribution.
