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Saving Money to Do More Good in the World: A Single Mom’s Success Story

A struggling single mother of four, Connie Chapin took a leap of faith in the early 2000s and started a business giving swimming lessons and hosting kids’ pool parties in her backyard swimming pool.

Blessed with God’s grace, a good business model, and an excellent location, the business was extremely successful. In 2007, Connie’s family was chosen by ABC’s Extreme Makeover Home Edition for a renovation of her home and pool. Today, Angelfish Swimming employs three instructors teaching life-saving water skills to 300 swimmers weekly.

Having never forgotten how God helped her in her time of need, Connie is committed to giving back as much as she can to her community by contributing to her church, donating pool parties, and leading food or coat drives for others in need. But as a single mom, she needed more financial security and a plan for her own retirement.

Taking Control of the Future

Using a friend’s CPA services, Connie knew that her business was compliant with tax laws, but suspected she was not taking advantage of every opportunity to reduce her tax burden. Wishing to establish a plan to save for her future while also freeing up more income for causes she cares about, Connie reached out to Quartermaster Tax Management, having heard about the firm from a friend in North Carolina.

“I called Heath Walters, and he was amazed by how much I was paying in taxes and how much of my funds he could redirect to save me money,” she recalls. “It was overwhelming and amazing to hear what he could do for me.”

Knowing that Heath is a family man who shared her Christian values, she put her trust in him. “He has dedicated his own life to his family and children, and he gets it,” she says. “He’s not there to help investors’ bottom lines. He’s there to make other people successful for their families and communities.”

Saving Money, Meeting Goals

Starting with a significant savings account that Connie had squirreled away, Quartermaster Tax Management developed a personal and business investment strategy and budget that worked with Connie’s goals and lifestyle. Among the changes were a new 401(k) for Angelfish Swimming, life insurance coverage, and a business reorganization. Quartermaster Tax Managementeven helped complete federal student aid (FAFSA) paperwork to enable her children to attend college.

“Heath took the time to really get to know who I am, so he can help me make sure that the money is there to do what I need and to support what I do best,” Connie says. “I’m really excited about this change and even better, I haven’t felt a lifestyle cash crunch. The approach changed the way I look at money and how much I save or redirect, not necessary impacting the way or amount I’m spending.”

Connie’s comprehensive financial strategy resulted in annual tax savings of 56 percent, allowing her to ramp up her retirement savings. Connie’s goals included paying off her house and taking annual vacations. With her new financial plan, she can do both.

“I started saving for retirement quite late at age 52, but I know I’ll be OK because of Heath’s ability to analyze, see the big picture, and plan for the future,” she says. “Before, I was just throwing money into savings haphazardly. Now I have a plan. I’m thrilled to know that I’ll have my house paid off, go on trips, and still save for retirement in a big way.”

Walking in Faith

With her financial strategy in place, her business running at full tilt, and a waiting list of swimmers, Connie now has more available funds to make a difference in others’ lives.

“I want to make sure that I respect whose money it really is,” she says. “I tithe 10 percent, plus a lot more. I want to give back wherever I can. Heath’s philosophy is the same. He has proven himself over and over again. As my trust for him grows, his confidence in me grows, and that relationship is built on Christ rather than money. That’s what it’s all about: How we go through this life as Christians. God expects us to do great things, and Heath does that for me so I can do great things through Christ.”

 

 

Before, I was just throwing money into savings haphazardly. Now I have a plan. I’m thrilled to know that I’ll have my house paid off, go on trips, and still save for retirement in a big way.
— Connie Chapin