Our objective is to help you reach your goals and to guide you to financial success. Comprehensive financial planning is not a one-time assessment. It is a multi-step process that takes weeks, months, or sometimes years to implement.
The key parts of that process are:
Identification of Goals and Objectives
Sometimes goals are simple and clear: “I want to pay for my children’s college education” or “I want to retire at age 55”. Other times goals are more complex: “I want children my to inherit my wealth and minimize estate/inheritance taxes”. Our first step will be to help you identify and prioritize your goals.
We’ll review and identify any weaknesses in protection for you and your family. This includes personal liability, disability, life, and long-term care insurance.
Based upon your goals and risk tolerance, we’ll put together an Investment Policy Statement (IPS) and recommend an investment portfolio specific to your needs.
Cash Flow Analysis
We’ll review your monthly or annual cash flow to determine the effectiveness of your spending and savings habits, and to ascertain the standard of living you expect to maintain upon retirement.
We’ll review your current situation and determine ways to reduce your federal and state tax liabilities.
Based upon the above cash flow analysis, we’ll recommend any adjustments necessary for a comfortable retirement.
If you wish to fund all or part of the education for your children or grandchildren, we will project the savings required to meet this goal.
We will review your wills, trusts, and other estate planning documents to make sure they reflect the current tax law. We will work with your attorney, or recommend one, to implement any changes in existing documents or if necessary, prepare new ones.
Implementation of the Plan
We make recommendations and implement the necessary steps to reach your goals. We may recommend restructuring assets to achieve maximum tax efficiency and diversity. We will show you how to grow your investments and take the worry out of taxes and inflation. We will develop a comprehensive “Action Plan” that addresses risk tolerance, safety of principal, market volatility, and diversification specific to your needs.