CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: June 11, 2025
MEETING: 2025 Q2 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 $1,398,000. An important administrative item was resolved at
this meeting. The advisor identified an error in the billing records from 2022: the
Q1 and Q2 2022 invoices both applied the flat 1.00% fee rather than the tiered rate
that had been in effect since July 1, 2021. The overage totals $340. The advisor
apologized for the oversight and confirmed that a credit of $340 will be applied to
the Q3 2025 invoice. The Chens accepted the resolution and the advisor committed to
an annual billing audit going forward.
The Social Security strategy was revisited in light of updated earnings projections.
The 2024 analysis recommended Sam at 64 (2029) and Alex at 67 (2031). Updated
Social Security Administration estimates (reflecting 2024 and 2025 earnings) were
incorporated. The recommendation remains unchanged. The advisor walked through the
break-even analysis: if Alex lives to age 80, delaying to 67 produces approximately
$22,000 more in lifetime benefits versus claiming at 65. For expected longevity,
delaying is clearly superior.
Bucket strategy first quarterly check: Bucket 1 is at $74,000 — no replenishment
needed. Bucket 2 is generating approximately $18,000 per year in bond income, which
will be swept to Bucket 1 annually. Bucket 3 is at $873,000, up approximately 3.8%
since implementation. The buckets are functioning exactly as designed.
Sam raised the question of long-term care insurance. The advisor confirmed that the
optimal window for purchasing LTC insurance is typically ages 55–60, with premiums
substantially lower than in later years. Sam is 58; Alex is 54. The advisor
recommended beginning an LTC insurance analysis in Q3 or Q4 of this year.
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ACTION ITEMS

1. Apply $340 billing credit to Q3 2025 invoice — confirm in invoice
2. Conduct annual billing audit — complete before year-end 2025
3. Begin long-term care insurance analysis: quotes for Sam (58) and Alex (54)
— by Q4 2025
4. Bucket 2 annual sweep to Bucket 1: schedule for Q4 2025
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CONFIDENTIAL — For client use only. Not for distribution.
