Why is Planning so Important?
An Essential Starting Point
Having a financial plan is an essential place to begin. Your financial plan becomes the backdrop against which all other financial decisions should be made. This 'planning first' approach gives us a solid framework to know which investments you should own and how aggressively or conservatively you should be invested. Ultimately having a comprehensive financial plan allows us to build a customized portfolio that is right for you.
Creating A Financial Plan
General Planning
Investment Management
Investment Management
- Define your income & expenses (Budget)
- Understand your assets & liabilities (Net Worth)
- Discuss your goals and desires
- Complete a confidence assessment
Investment Management
Investment Management
Investment Management
- Provide ongoing management of retirement and non-retirement assets within your advisory fee-based relationship
- Offer full advisory & brokerage services
- Discuss cash management
- Constantly stive to maximize returns on your assets
Insurance
Investment Management
Education Funding
- Define your risks and find out what is important to you
- Help you understand your options regarding...
- Life insurance
- Disability insurance
- Long-term care insurance
- Provide Medicare review at age 65
Education Funding
Distribution Strategies
Education Funding
- Decide how to structure college funding - savings, loans, grants, and out-of-pocket expenses
- Discuss college saving plan options
- Explore potential tax advantages
Distribution Strategies
Distribution Strategies
Distribution Strategies
- Plan your income strategy to and through retirement
- Plan for estate and legacy goals
- Optimize IRA withdrawals & discuss tax implications
- Discuss your charitable giving
Income Planning
Distribution Strategies
Distribution Strategies
- Review Social Security and filing options
- Analyze pension plans
- Discuss portfolio withdrawal options
- Explore guaranteed lifetime income options
Estate Planning
Estate Planning
Estate Planning
- Discuss beneficiaries on all assets
- Discuss essential state planning documents including will, POA, medical directives, trusts, etc.
- Partner with estate attorney as needed
Cashflow
Estate Planning
Estate Planning
- Discuss needed cash reserves and emergency funds
- Address debt elimination and optimization
- Partner with tax and mortgage professionals as needed