CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: March 13, 2024
MEETING: 2024 Q1 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 $1,203,000 with the market continuing its 2024 rally. The advisor
noted the portfolio has grown substantially since the COVID lows and that the Chens
are tracking ahead of the original financial plan projections. Allocation is
61/35/4, within IPS bands.
The primary planning focus for this meeting was the final NLTK vest anticipated in Q3
2024. Based on the grant schedule, approximately 625 shares are expected to vest in
August or September 2024. The advisor proposed a simple execution: sell all 625
shares immediately at vest, close the NLTK position entirely, and reinvest proceeds
into the diversified portfolio. No DAF donation is planned unless the Chens wish to
make a charitable gift — the position size is modest enough that the tax impact is
manageable without it.
The bucket strategy implementation plan was discussed in detail ahead of the Q1 2025
formal rollout. The Chens are approximately 8–9 years from retirement. The advisor
modeled a preliminary allocation: Bucket 1 ($74,000, 2 years of expenses), Bucket 2
($397,000, 5-year intermediate bond ladder), and Bucket 3 ($732,000, equities for
long-term growth). This framework will be formalized in 2025.
Social Security optimization was introduced. With Sam approaching 62 (eligible for
early benefits) and Alex at 58, the advisor initiated the framework for coordinated
claiming. The optimal strategy in most cases for a two-earner couple with longevity
expectations is for the higher earner to delay to 70 and the lower earner to claim
earlier. A formal analysis will be prepared for Q4 2024 once full earnings records
are available from the Social Security Administration.
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ACTION ITEMS

1. Final NLTK vest (Q3 2024): sell all 625 shares at vest; reinvest proceeds;
close NLTK position
2. Prepare formal bucket strategy implementation plan for Q1 2025 meeting
3. Request Social Security earnings records — Chens to create SSA.gov account
and download statements
4. Send Social Security optimization analysis to Chens before Q4 2024 meeting
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CONFIDENTIAL — For client use only. Not for distribution.
