Case Studies
Clients We ServeWe serve hard working individuals and families in pursuit of financial freedom.
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You can click on the life stage below for more details about the clients we help!
Testimonial
“I met Demel Gonzalez at a non-profit event approximately 8 years ago. I was immediately impressed with his professionalism and his personal manner. He has managed my finances since then and I have trusted him implicitly to make decisions concerning my financial affairs. I am always grateful for his advice and willingness to help me make some important decisions. I would highly recommend Demel if you are looking for someone with integrity, honesty and a high moral standard.”
Fran & Doug M.
Florida
*Please note that these testimonials are from current clients who were not compensated in any way for their testimony.
Case Study
30’s and 40’s Accumulation and Younger Growing Families
*This case study is hypothetical
30's and 40's Accumulation and Younger Growing Families
David and Diana had big dreams for their growing family, but little time to organize their financial lives. With their daughter excelling in middle school, Diana’s online business taking off, and David getting promoted to his dream job, a lot was going right.
They are both go-getters, busy professionals, but not necessarily unified in their approach to money. What David and Diana share is a background of growing up in households where finances were tight, and arguments were frequent. They both witnessed a lot of worry, anxiety, and fear about the future. With the success they’ve had, David and Diana dream of creating a cycle of generational wealth, but don’t know how to do it.
To make their vision a reality, they needed a financial plan. What David and Diana weren’t sure about was their financial life. David and Diana’s pain points were:
- Establishing shared goals
- Managing Debt
- Prioritizing excess cash flow
- Spending versus Invest
- Navigating employee benefits
- Charitable donations
- Saving and paying for college
- Managing their stock options
- How much life insurance did they need, if any
- Whether they needed to establish a trust
- Buying rental property for passive income
- Which mutual funds should be in their retirement accounts
- Any blind spots in their financial lives that they simply weren’t aware of
To get a handle on their finances, David and Diana chose to partner with Heartwood Financial Services for a comprehensive financial plan and ongoing asset management.
We showed them the best ways to set aside money for their child’s future. They also gained a clear picture of the potential opportunities and pitfalls of real estate investing. Finally, David and Diana learned which investments and insurance coverage made the most sense for their family.
Now David and Diana have a clear picture of their finances and a path to achieving their version of retirement!
Case Study
50’s Transitioning to Empty Nest
*This case study is hypothetical
50's Transitioning to Empty Nest
When Matt and Mary turned 50, they realized it was time to get serious about retirement planning.
Matt, a small business owner, had enjoyed many years of success, but knew he’d need a plan for when it was time to sell his business, which he hoped to do within the next ten years.
Mary, a full time stay at home mom, until recently when their youngest moved away for college, works part time at a retail shop. Their oldest two are starting off on their own, and Matt and Mary have often stepped in to provide financial support when needed.
Both have aging parents, further adding to their financial stress and concerns. Matt and Mary enjoy giving to their local church, and being generous with other charities, but don’t really know the best way to go about it.
Looking ahead, they want to travel when they are retired. They love to explore. Over the years, Mary read personal finance blogs and Matt was smart about making sure they saved for the future and stuck to a reasonable budget. Despite their efforts, years of do-it-yourself investing had reached the limits of what they felt they could do, so it was time to get customized advice and start crafting a retirement plan on their terms.
With retirement decisions on the horizon though, Matt and Mary were thrilled to find Heartwood Financial Services and realize they could enjoy fiduciary, fee-only financial planning without having to “hand over” all their investment accounts to a financial firm they barely knew.
Matt and Mary chose to partner with Heartwood Financial Services because they immediately felt understood and refreshed by their candor and transparent financial planning approach. Matt and Mary’s pain points were:
- What’s next for us? When should we retire?
- Understanding cash flow
- Learning about Charitable donations/strategies
- Assisting young adult children
- Strategies for maximizing Social Security benefits
- Planning for health care costs before and after Medicare
- How to invest their retirement accounts
- Retirement Income
- What estate planning documents were necessary
- How to continue their charitable giving in retirement
- Tax strategies, such as Roth IRA conversions
- Any blind spots they were missing that could derail their retirement plans
We showed them how to best approach Social Security as a portfolio diversification tool and how to coordinate their health care costs. They learned they were invested more aggressively than they needed to be. With Heartwood’s guidance, Matt and Mary could move forward with confidence and peace of mind.
Now Matt and Mary have a thinking partner on their side of the table and a confident path to achieving their great retirement adventure!
Case Study
Retired Grandparents
*This case study is hypothetical
Retired Grandparents
Although Ken, who just turned 70, and Kathy, approaching 70 had settled nicely into the “empty nester” lifestyle,
Kathy was still going to work a few days a week. Ken retired a few years ago, and Kathy wanted to retire as well, but they weren’t sure if they’d saved enough for her to stop working.
They were interested in professional management of their investments, but concerned about paying 1%-2% advisory fees on their seven-digit retirement balances.
Kathy grew up financially insecure and was too anxious to retire despite the fact that Ken and Kathy had lived within their means for years. Their frugality, and the fact that they both had pensions, meant that they could retire and live comfortably. They are, literally, the millionaire next door.
Working together, Kathy began to understand the strength of her financial resources and to find the emotional ability to retire. Understanding her money story was key to helping her feel safe and secure. They had serious questions about their finances:
- Retirement Income
- Charitable Foundation
- Assisting grandchildren/children
- Understanding cash flow
- How close are we to financial independence?
- Can we retire in the next few years?
How much can we spend if Kathy stops working this year?
When should we start taking Social Security benefits?
What will the cost of health insurance be if we stop working today?
How much can we give to our favorite non-profits and our grandchildren while maintaining our standard of living?
Ken and Kathy chose to partner with Heartwood Financial Services to create a roadmap to full retirement, and enjoy professional management of their investments for a fixed, flat price.
We showed them a retirement income plan, how much they could spend in retirement based on their current burn rate, net worth, asset allocations, and Social Security benefits.
Ultimately, Ken and Kathy discovered she could retire within the next two years, provided they implemented the financial plan we created for them and followed our investment management guidance.
Now they have renewed optimism and confidence for what retirement has in store!
Case Study
Widowed/Retired
*This case study is hypothetical
Widowed/Retired
Charles and Christi came to us while still in their mid 60’s. Charles was still enjoying a 30+ year career as an engineer, but had hopes of retiring at 70. Christi was a full-time parent to their 4 children up until they became empty nesters. For the past several years, Christi has worked part-time at a a pre-school to stay busy and for some extra spending money. She planned to keep working part time until Charles was ready to retire.
We ran an initial analysis and found that Charles and Christi had their money invested very conservatively and weren’t saving enough to reach their goals. Given this information, we reviewed their budget and found ways to increase contributions to Charles’ 401(k)s without greatly altering their spending. We encouraged them to get low-cost supplemental life insurance coverage through Charles’ firm. Because they hadn’t saved enough to reach their goals, this policy meant they’d be financially secure if one of them passed away unexpectedly.
Charles retired after his 70th birthday, but sadly then passed away the following year.
Beyond the sheer shock of the loss, Christi worried about her finances. Christi’s pain points were:
- Retirement Income
- Asset Management
- Charitable Foundation
- Assisting children
- Understanding cash flow
- How much can I give to my favorite non-profits and our grandchildren while maintaining our standard of living?
We helped her transition into widowhood and update her financial plan to ensure she still had enough money to live a fulfilling retirement. Christi is thankful for the peace of mind she’s been able to enjoy.
Testimonial
“I felt that this letter of appreciation is overdue after our long relationship. We want to personally thank you for the many years of great financial advice and management of our portfolio. Keep up the good work. Thanks again!”
Dick & Carol H.
Florida
*Please note that these testimonials are from current clients who were not compensated in any way for their testimony.
Testimonial
“I’ve known Demel for 3-4 years before he started Heartwood. Prior to starting Heartwood, I would seek out Demel’s opinion on any major investment I was making. After he started Heartwood, I turned over my investment decisions to him and had him manage a good portion of my IRA assets.
One of the best things about having Heartwood manage my IRA assets is that from month to month I know exactly who is managing my account. When I was using a major brokerage my account manager changed frequently and most of time without my knowledge until, I called in with a question or concern. With Heartwood I know that Demel is the only one managing my assets.
Another good thing about doing business with Demel is that you can ask him a range of questions associated with a retiree’s finances. For example, he helped me make the decision as to when to take Social Security. That was about 7 years ago and I am so glad I followed his advice. Demel continues to give me good, honest advice – even when it is not in his best interest.
Lastly, I view Demel as a form of life insurance – He is aware of my family’s spending habits and personally knows my wife and two adult daughters. This combined with my knowledge of his investment style, gives me peace of mind that if I died my wife would be taken care of financially and would have a trusted resource to help her make financial decisions. “
Allen S.
Colorado
*Please note that these testimonials are from current clients who were not compensated in any way for their testimony.
Get Started
We invite you to stop worrying and partner with us to design your plan that will help you anticipate life transitions and help you be prepared for them!
Contact info
+1 407-878-7275
demel@myheartwood.com
brian@myheartwood.com
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