CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: December 13, 2023
MEETING: 2023 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 2023 at $1,098,000 — growth of approximately $55,000 since the Q2
milestone. A strong year for equities, with the S&P 500 up approximately 26% for the
year. The portfolio's 60/35/5 allocation captured meaningful equity gains while the
35% bond allocation lagged but provided stability.
Tax planning for 2023 was reviewed. The NLTK liquidity event produced $120,015 of W-2
income; the DAF deduction of $25,020 and the $15,500 TLH carryforward offset much of
the incremental tax burden. The advisor expects the Chens' effective federal tax
rate for 2023 to be approximately 28–30%, modestly higher than 2022 but well-managed
given the magnitude of the liquidity event.
The DAF grants were submitted in November: school foundation ($8,000), food bank
($10,000), and arts organization ($7,020). The Chens expressed satisfaction with
the giving plan and asked whether future NLTK-style giving events could be structured
through the DAF. The advisor confirmed that the DAF is permanent and can receive
additional in-kind contributions in future years — including from the Q3 2024 final
NLTK vest if the Chens choose.
Looking ahead to 2024: the final NLTK vest in Q3 2024 (approximately 625 shares) and
the continued portfolio trajectory toward $1.2M are the primary planning items. The
advisor also flagged that 2024 will be a good year to begin formal Social Security
optimization modeling, as Sam approaches the 10-year-ahead planning window.
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ACTION ITEMS
1. Send TY2023 year-end tax package to CPA — include vest recap, TLH
documentation, DAF confirmation

2. Plan Q3 2024 final NLTK vest — confirm quantity and DAF donation election by Q2
2024
3. Begin Social Security optimization analysis — complete by Q4 2024
4. 529 accounts: confirm annual contributions processing in January 2024
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CONFIDENTIAL — For client use only. Not for distribution.
