When Carol first came to see me, she had a dream that had been in her heart for years. She wanted to own a home. She had always pictured a place that was hers, but she wasn’t sure how to make it happen. At the same time, she was hoping to retire in about five years and worried she hadn’t saved enough to do both.
We started by reviewing her expenses, savings, and long-term goals. Based on her income and budget, buying a home seemed challenging unless she increased her income or found another source of funds. She had been saving diligently, thinking she needed a full 20 percent down payment plus closing costs. At her current pace, it would take nearly ten more years to reach that amount.
That’s when I shared some good news. First-time homebuyers often qualify for programs that allow as little as 3 percent down, plus closing costs. That changed everything. Together, we used a mortgage calculator to estimate what she could comfortably afford, updated her budget, and identified one key step that could make it all work: asking for a raise.
Carol was hesitant at first, but after researching salary data, we discovered she was being underpaid compared to others in her position. With a plan and a little encouragement, she scheduled the conversation with her employer.
A few weeks later, she called me, her voice full of excitement, to say she had received a $20,000 raise and was approved for a mortgage.
Today, Carol owns her first home. Yes, she may work a few more years before retiring, but now she spends her evenings in a home she loves, a place that reminds her what’s possible when you combine clarity with courage.
Her dream came true, and so did her confidence.
Sometimes the first step toward your dream isn’t just about saving more, it’s about seeing what’s truly possible.
At the Financial Center for Women, we help women like Carol design a financial plan that fits both their goals and their life, whether that’s buying a home, retiring on purpose, or finally feeling confident about money.
Ready to plan your own dream? Let’s start the conversation today. Give us a call!
This is a hypothetical situation based on real life examples. Names and circumstances have been changed. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments or strategies may be appropriate for you, consult your advisor prior to investing.