Financial Planning

What is included, monitored, and questions we try to solve with our client in the financial plan process?

• Goal Identification
• What are your life goals? When, what, and how do you want to accomplish them? What do you need in the next 2 years, 2-5 years, and 5+ years?
• Current Financial Situation
• What is your snapshot and understanding of your income, assets, savings, and investments? Reviewing these allows us to gauge where you are and whether or not you are moving towards your goals based on your current actions.
• Risk Management/Insurance Analysis
• What are your and your family's risks, and are you protected to meet your goals? Analyze current insurance and coordinate with professionals to protect you and your family.
• Spending Plan Review
• How much do you need, or what is your Lifestyle Income number? We help you find the optimal balance between what comes in and what is going out and tweak it according to your financial goals and changing expenses (down payment, a new kid on the way, etc.).
• Retirement Planning
• When do you want to become financially independent? When do you want to retire? These may be the same date but, in many cases, differ. We help you review these dates and then implement a plan to accomplish them.
• Education Planning
• Do you want to pay for, assist with, or deal with it as it comes? Maybe you want to set up an account for a non-child like a friend, grandchild, or relative? We discuss and implement the strategies you want to accomplish.
• Debt Reduction
• Do I pay my mortgage early, pay off the credit card, or save more? We evaluate a debt reduction and management plan that maximizes and makes the most sense for you and your plan, not a family member or neighbor.
• Review and Advice on Employment Benefits
• Do I participate in my employer's Roth or Traditional plan? Do I buy into the ESPP plan? What medical and insurance benefits are suitable for me and my family? Whether taking on a new job or going through annual enrollment with your current employer, understanding how employment benefits play into your financial plan is critical.
• Investment Planning
• Do you know what you need in the next 2 years, 2-5 years, and 5+ years? Is your Emergency Reserve adequate for your needs? Do you know the allocation and diversification of all your resources and understand the total cost of investing? Making sure your resources are allocated and invested towards your goals in the most efficient way possible is something we implement and review for our clients.
• Estate Planning
• Do you have a will, trust Power of Attorney, and Health Care Directive? Have you reviewed your Life Continuity plan in the last 5-7 years? We review our clients' Estate Planning needs to ensure they get a plan matching their continuity "prescription." Whether implementing a new plan or updating an old one, we coordinate with professionals to ensure our client's wishes are met.
• Tax Planning
• How do I manage taxes today, tomorrow, and in the future? Do I put everything into pre-tax or utilize taxable and tax-free options? How does what I do today affect my taxes later in life? It is not about what you earn but what you keep. We identify strategies to reduce your overall tax implications now and during retirement.
• Business Planning
• Do you know what your business is worth? Do you have a succession plan in place if something unexpected happens? How will the sale of your business affect your retirement? We help our business owners answer these questions and implement them into their financial plans.