Your Financial Plan

A statement of objectives is the first step in your financial plan because it allows us to define specific goals, and defining goals is essential to achieve them. Your statement of objectives may include wanting to retire at a certain age with a particular level of income, the total or partial funding of your children’s education, the purchase of a property, debt reduction and elimination, protecting your family in the event of your premature death and planning for long-term care expenses, to name some examples. Your statement of objectives will be personalized to you based on our initial discussion.

Identifying your assets and liabilities is an important part of financial planning because it defines what you have as working capital toward your goals. Your net worth analysis will list your assets, breaking them down by qualified (retirement) and nonqualified (non-retirement) and by whether they’re owned in your name, your spouse’s name or jointly. Similarly, it will list all liabilities and the interest rates attached to each.

Our retirement savings and income analysis examines the assets you have accumulated and what you expect to save on an ongoing basis leading up to your planned retirement date. Based on various return assumptions detailed in your plan, you’ll see the level of income you may reasonably expect to have in retirement. During the presentation of your financial plan, we can adjust our savings and return assumptions as well as your retirement date to show you the potential results of varying scenarios.

If you desire to fully or partially fund the education of your children or grandchildren, our education savings analysis will be part of your financial plan. This analysis takes into account what you have currently saved and any ongoing planned savings to help determine whether you’re on track to meet your goal and, if not, the changes you can make to get closer.

Based on your personal goals and risk tolerance, we provide perspective and advice regarding your asset allocation and investment holdings.

While we are not attorneys and do not provide legal advice, we do discuss with you estate planning strategies and documents that you should consider along with your attorney in order to ensure that your estate passes according to your wishes and to allow your most trusted loved ones to act for you in the event of your incapacitation.

We analyze your current insurance to determine whether your family would be in a financial position to maintain their standard of living in the event of your premature death. We also discuss disability, liability, and long-term care insurance.

An important part of the success of your financial plan is its ongoing maintenance as your personal circumstances, as well as the direction of the markets, evolve. We have a plan in place to ensure continuous monitoring of your investments and proactive communication with you, and we invite you to proactively update us when changes occur in your life that may affect your plan.