Retirement Planning
Identifying how much you need to comfortably retire, if you are on the right track, and where to save your money:
- Identifying life expectancy, inflation, cost of living
- Customized current vs. ‘what-if’ financial scenarios
- 401(k) or 403(b) plan allocations, rollover assistance
- Money purchasing, profit sharing plan reviews
- Consolidating accounts into an organized portfolio
- Account allocation review, transfer assistance
- Understanding beneficiary and personal RMDs
- Discussing products that fit your portfolio, time horizon
Investment Planning
At the core of this process is the identification of your financial goals. Investment planning is a core component of your full financial plan:
- Initial identification of current/future needs, investment timeline, and risk tolerance
- Asset allocation, diversification stems organically from goals
- Understanding what is in your portfolio and why
- Ongoing advisor discussions to maintain/adjust portfolio allocations
Estate Planning
Strategies that protect your loved ones and set up your financial legacy for years to come:
- Guidance on new or existing trusts, estate plans
- Understanding types of trusts, tax implications
- Establishing or reviewing trustees, beneficiaries
- Assigning an existing trust as an account beneficiary
- Exploring how a living trust may help avoid probate
Tax Management
Examining any and all ways to reduce current or future tax burdens:
- Including tax events in your financial plan
- Maximizing available tax credits, tax relief
- Understanding current tax laws and regulations
- Lowering taxable income, if possible
Family Protection
Examining appropriate strategies to protect loved ones against unexpected loss of health, income, or life:
- Existing policy reviews (disability, income, life, LTC)
- Ensuring appropriate policy coverage
- Assistance in applying for new policies
- Comparison of rates to ensure best-fit premiums
- Understanding policy coverage
Education Funding
The first step towards investing in the future of your child or grandchild is identifying the educational needs and preferences of your recipient:
- Characteristics of 529 plans, ESAs, UGMA/UTMAs
- Examining future financial aid eligibility for the child
- Qualifiable life events for withdrawals
- Contribution limits and funding options
- Traditional savings methods (CD’s, savings accounts)
- Comparison of in-state vs. out-of-state plans
- Who controls the account, age phaseouts
Charitable Giving
Confirming you are accurately setting up your donations and contributions to meet all legal requirements:
- Constituting a non-cash vs. cash donations
- How to correctly value a donated item
- Understanding required tax documentation
- Understanding tax code incentives
- Ensuring you are giving to a reputable charity
- Deciding how much to give
- Knowing this year's maximum contribution
A Decision Not Made Is Still a Decision
What Do Your Taxes Pay For?
Should You Borrow from Your 401(k)?
