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Personal Financial Planning

We seek to build a solid foundation using goals-based, financial planning that is on-going and accessible. Together, we will focus on meeting and exceeding important milestones, regardless of market conditions and performance.

1. Goal Setting

1. Goal Setting

  • Develop, implement, and monitor financial goals
  • Calculate net worth and review cash flow
  • Conduct annual planning evaluations and tracking of goals
  • Provide proactive follow-up on action items
  • Offer advice on healthy financial behavior (for example wants vs. needs)
2. Retirement Planning

2. Retirement Planning

  • Evaluate pension plan structures, IRAs, Roth IRAs, or qualified plans
  • Provide Social Security analysis and benefit optimization
  • Analyze distribution options for pensions
  • Calculate IRS Required Minimum Distributions (RMD’s)
  • Provide Roth IRA conversion calculations and advice
  • Review and update goals, objectives, and priorities to analyze the impact of changes on overall financial situation
  • Update financial projections to monitor the effect of stock and bond markets, changes to cash flow needs, risk tolerance and other variables
  • Analyze the effects of inflation on financial goals
  • Provide stress test analysis of portfolio
3. Educational Planning

3. Educational Planning

  • Evaluate and recommend educational funding strategies
  • Provide access to education investment accounts, e.g., 529 plans, custodial accounts, Education Savings Accounts, IRAs, and Savings bonds
  • Monitor age of student(s) to ensure proper allocation based on risk tolerance and time horizon
  • Provide guidance and advice on financial aid and scholarship funding
  • Monitor state and federal tax laws for changes to education benefits, contributions, credits, and deductions
  • Establish and monitor financial education programs for your children or grandchildren
4. Balance Sheet and Net Worth

4. Balance Sheet and Net Worth

  • Gather and analyze information to create household balance sheet
  • Calculate and monitor net worth
  • Analyze debt structure and organization; assess lending opportunities
  • Evaluate mortgage financing, the economic benefits of refinancing, semi-monthly payment programs, accelerated payment programs and PMI reduction strategies
  • Help prioritize spending and prepare for potential pitfalls
  • Look for opportunities for additional savings
5. Tax Strategies

5. Tax Strategies

  • Provide information about tax-planning strategies
  • Coordinate with your accountant to enhance tax efficiencies in financial plan
  • Discuss tax benefits of optimizing 401(k), 403(b), or other retirement plan options
  • Provide information on the benefits of section 125 plans and health-savings accounts
  • Offer guidance to reduce taxation of Social Security benefits
  • Provide advice on benefits of Roth conversions
  • Establish and track cost basis on taxable accounts
  • Provide advice on retirement plan distributions prior to age 59½
  • Make recommendations on Required Minimum Distributions (RMD’s)
  • Monitor tax law changes and the impact on overall situation
6. Estate and Legacy Planning

6. Estate and Legacy Planning

  • Advise on the implementation and proper use of estate planning tools: wills, trusts or powers-of-attorney (financial and healthcare)
  • Provide education and guidance on charitable giving alternatives
  • Review ownership and beneficiary designations on accounts
  • Review estate planning documents to verify they are up-to-date and coordinate with the financial plan
  • Assist and coordinate with your estate planning attorney
  • Recommend gifting strategies
  • Monitor changes of ownership of assets during an acquisition or after a marriage, divorce, inheritance, or other significant life event

For more information about our firm and the services we offer, send us a quick email or call the office. We would welcome the opportunity to speak with you. |  (806) 687-5257