CLEARWATER WEALTH PARTNERS
Meeting Notes
____________________________________________________________________________________
_
CLIENT: Chen Household (Sam & Alex Chen)
DATE: December 11, 2024
MEETING: 2024 Q4 / Year-End Review
ADVISOR: Sarah Chen, CFP® | Clearwater Wealth Partners
LOCATION: Conference Room A, Clearwater Wealth Partners
____________________________________________________________________________________
_
DISCUSSION SUMMARY
Portfolio ends 2024 at $1,312,000, up from $1,203,000 at the start of the year. A
strong year despite the end of NLTK vest income. Markets were positive and the
portfolio's diversification following the NLTK closeout is working as intended. The
Chens noted that the portfolio statements look different — cleaner — without the
NLTK concentration footnotes.
The Social Security optimization analysis was presented in full. The recommended
strategy: Sam claims at age 64 in 2029, accepting the early-claim reduction but
beginning to draw benefits while still employed part-time or immediately
post-retirement. Alex delays claiming to age 67 in 2031, near the household's
higher-earner retirement date. This approach provides approximately $8,400 in
additional lifetime household benefits versus both claiming at 65, and significantly
more versus both claiming early. The Chens accepted the recommendation and it was
documented as the planning baseline. A formal claiming decision will not be made
until 2028–2029.
The bucket strategy implementation is scheduled for the Q1 2025 meeting. The advisor
has prepared a full implementation plan and will execute the first formal bucket
allocation at that meeting. Bucket 1 ($74,000) will be funded from existing cash and
short-duration bonds; Bucket 2 ($420,000) from intermediate fixed income; Bucket 3
($818,000) from equities.
Tax planning for 2024: no NLTK event to manage (only the small final vest). Capital
gains from rebalancing are approximately $4,100. The prior TLH carryforward has been
exhausted. Standard deduction likely applies. CPA to confirm.
____________________________________________________________________________________
_
ACTION ITEMS

1. Send TY2024 year-end tax package to CPA — include final NLTK vest, capital
gains summary
2. Implement bucket strategy at Q1 2025 meeting — have allocation analysis ready
3. Document Social Security claiming plan: Sam at 64 (2029), Alex at 67 (2031)
4. 529: model Maya front-load option — present at Q1 2025
____________________________________________________________________________________
_
CONFIDENTIAL — For client use only. Not for distribution.
