When it comes to financial planning, there is only one person that matters: You. Because this is your life, your goals, your dreams. That’s why we focus on financial planning for your whole life – from your first job to your last and beyond.
As the driving force behind the process, you’ll have a better idea of where you stand, where you’re going and how you’ll get there. In fact, the more engaged you are, the better the chances that you will be able to create – and fund – the life you’ve always wanted. And we’re here to help keep everything on track. Together, we can help you bring your vision for the future into sharp focus so you can begin to prepare for it.
Let’s build a financial plan that puts you at the center of it, one that takes you from today to tomorrow, pausing now and again to enjoy life’s great moments along the way. While our planning process can be divided into four steps, it really is an ongoing endeavor that evolves as your life does.
On the assets side of the ledger, we first identify your income streams and assets.
Your retirement income streams are sources of reliable, consistent income received either monthly or yearly to cover retirement expenses. These income streams can include, but are not limited to, Social Security, pension payments, or income from a job, business, or professional practice.
We will also inventory your retirement assets. These assets encompass qualified plans such as 401(k) plans, IRAs, Roth IRAs, as well as CDs, brokerage accounts, savings, annuities, an inheritance, or proceeds from the sale of a business, professional practice, or real estate.
While the process we call on to analyze these assets is fairly complex, we summarize them in an easy-tounderstand visual representation of your retirement income and assets.
Through our simple retirement planning questionnaire, we uncover and help prioritize both your needs and wants.
Needs are your required expenses in retirement such as housing, healthcare, insurance premiums, fuel and auto expenses, and food. Wants are expenses that are nonessential, but contribute to your ideal retirement. These items can include a vacation home, travel, and funding important causes or education for future generations.
Now we are ready to create an investment strategy designed to pay for your needs and wants with a combination of income streams and income from assets.
How do you pay for your needs and wants?
Your reliable income streams support your needs, and your retirement assets contribute to any gaps. How about wants? They are paid for by your retirement assets and the income derived from them.
Your investment strategy integrates the goals, risk criteria, investment preferences, and specific tax, estate, or family situations that are unique to your situation.
Also, we incorporate into the strategy the many risks to your retirement. These risks can include, but are not limited to, inflation risk, health risk, market risk, and longevity risk
We invest our time making sure we are able to offer a plan appropriate for each individual situation. This is part art and part science, making sure we know YOU so we can make suitable recommendations.
The appropriate investment strategy and asset allocation for you is a good step toward covering your Needs in retirement and paying for your Wants, but it is not enough.
In addition, selecting suitable investments within the asset categories can have an immense effect on your investment portfolio and your lifestyle in retirement.
Please keep in mind that diversification and asset allocation do not ensure a profit or protect against a loss.
As part of the planning process, we are available to directly assist you with implementing the strategies that have been agreed upon. In addition, we work closely with you and your other advisors because we believe (as the Japanese proverb tells us), “None of us is as smart as all of us.”
We are, for example, available on an ongoing basis to answer questions, monitor activities, or to make new recommendations regarding your financial matters.
Your plan is reviewed with you formally at least annually. In addition, we continuously monitor your plan throughout the year. These updates are vital so that we can make adjustments to reflect changes in your personal circumstances, the overall economic conditions, the markets, and in future tax law revisions.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.