To the Journey: Financial Planning for Young Professionals

Peter and Irene Hansen, two successful young married professionals, felt fortunate to have been able recently to buy a house in a prosperous Chicago suburb in which to raise their toddler and the sibling they had just discovered was on the way. Checking over their finances, the couple found they were running a noticeable monthly deficit. This caused them some unease, especially as their family income had just increased substantially. Because the Hansens had not done any long-run financial planning, their financial goals were somewhat ill-defined, but they knew the time had come to take a hard look at their overall financial situation.