Rob and Amber are both physicians with two young children. After all their training, they were ready to get into the dream house for themselves and their kids, finally upgrade their cars, and take some of the trips they have been putting off.

When looking at selling their residency/fellowship house and buy their forever home, we had them look back at all of the purchasing costs and capital improvements to increase the basis, or ‘purchase price’ of the starter home, to reduce the tax bill on the gain of the house. They ended up saving around $11,000 in taxes on the gain.

For the new house, we looked at what they could technically afford but would make them house poor, what would stretch the budget for the first few years but would be feasible, and what would be easily doable and maximize wealth. From the planning we had done, they felt confidence in the second option to get into the dream house now, rather than play catch-up later.

Rob and Amber have also implemented a student loans and personal loans repayment strategy that maximizes their wealth creation and options, especially should either want to change their work situation down the line.

We made sure their risks were addressed: an appropriate safety cushion, and the right amount of disability and life insurances.

Rob and Amber are now maxing their retirement accounts, and are investing a large chunk of their income for retirement, kid's’ education, kids’ house down payments, and overall wealth.

Outcome: now with the foundation built, they are well on their way to being financially independent well ahead of many of their peers, even though they took the long route career-wise.