Financial Planning
Financial Planning
Financial planning is a dynamic process that involves using the resources that you have available to best achieve your goals. Your complete financial picture must continually be monitored in order to address new circumstances and changing goals. We strive to position ourselves to be an integral part of your life now and in the future.
Financial planning services address specific concerns of the client including, but not limited to:
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Retirement Planning
- Understanding your desired retirement lifestyle
- Optimizing your current retirement savings (IRAs, Roth IRAs, 401(K)s, 403(B)s, etc.)
- Analyzing current resources and savings rate to meet retirement needs
- Discussing Social Security/Pension Claiming Strategies
- Developing a plan for income in retirement in a tax efficient manner
- Assessing Medicare and any potential Medicare Supplement policy needs
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Insurance/Risk Management
- Evaluating existing policies
- Identifying gaps in coverage (Disability Insurance, Life Insurance, Health Insurance, Long-Term Care Insurance)
- Ensuring that you and your family are protected against the potential for catastrophic loss
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Estate Planning
- Ensuring basic estate planning documents are in place (Will, Power of Attorney, Health Care Proxy)
- Determining if Trusts are appropriate to minimize death taxes and/or avoid probate
- Reviewing beneficiaries to make sure they are consistent with current wishes
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Education Planning
- Utilizing tax-efficient Education Savings Accounts (529s, Coverdells, UTMAs/UGMAs, etc.), where appropriate
- Understanding how to best navigate the Financial Aid process (FAFSA, CSS Profile, Expected Family Contribution Formula)
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Tax Planning
- Minimizing tax liability throughout all areas of financial planning
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Debt Management
- Prioritizing and paying off debt
- Consolidating student loans
- Helping you analyze mortgage and other loan alternatives
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Cash Flow Management
- Creating and maintaining an emergency fund
- Setting healthy saving habits
- Budgeting techniques
- Helping clients save to buy a home