Financial Planning with a CFP®
Our Comprehensive Financial Planning Process
Our lives are dynamic and full of experiences, we believe financial planning should also be an experience. This is why we make our entire process fun & engaging, committing to build a financial plan that helps improve your quality of life.
Planning for the future results we desire, the financial planning process becomes an interactive experience, one where the design of your life and financial plan take shape and become real. This makes planning fun, measurable, and organized.
We call this a "Results by Design Financial Plan."
- We learn about and help you crystallize your hopes, dreams & goals
- We analyze and test your current financial situation
- We test multiple ways you can manage your money to find the lowest cost, lowest risk ways of reaching your goals
- We agree on customized solutions to help you realize your hopes, dreams & goals
- We implement the financial plan when you are comfortable and ready to do so
To do this type of planning we charge a planing fee (see below) so there are no surprises. You pay nothing up front. We use a financial planning agreement that spells out what we will do, what the fee is, and will not invoice you for the financial plan unless your are 100% happy & satisfied.
Here is how we charge for your financial plan:
Our financial plans are priced based upon your net worth, excluding your primary residence.
Once you have a completed financial plan you are free to implement the recommendations with whomever & wherever you wish. If you should feel comfortable enough with us and our process, you may also implement with us, yet there is absolutely no obligation to do so.
What does a financial plan look like?
The following sample is a comprehensive example of the type of work we do for our clients, it is an illustration of almost all the planning areas we can address, your specific financial plan will almost certainly look different. Please feel free to ask about how a financial plan can help for your situation.
In addition to a financial plan here are some basic areas we help people plan for.
Building wealth can be done in a variety of ways, everything from saving in a retirement account to creating wealth in a business you are building. We work with you to figure out what the most appropriate accumulation strategy (or strategies) are and how best to implement them.
RETIREMENT INCOME STRATEGIES
People are living longer than ever before, with it not uncommon for us to reach age 100 or beyond! Planning for a retirement than can last more than 25 years requires skill and precision to make sure you are planning for your longevity. We work with you to design a retirement income strategy that lasts as long as you do, with flexibility for life's uncertainties along the way.
IRA & 401K ROLLOVERS
People are changing jobs more now than ever before. What should you do with your old 401k & IRA retirement accounts when you change jobs or retire? We work with you to figure out what makes the most sense for you and your retirement account in light of your overall financial plan. See our blog post on rollovers to get a better idea of what your options are.
*Before rolling over the proceeds of your retirement plan to an Individual Retirement Account (IRA) or annuity, consider whether you would benefit from other possible options such as leaving the funds in your existing plan or transferring them into a new employer’s plan. You should consider the specific terms and rules that relate to each option including: the available investment options, applicable fees and expenses, the services offered, the withdrawal options, the potential flexibility around taking IRS required minimum distributions from the option, tax consequences of withdrawals and of removing shares of employer stock from your plan, possible protection from creditors and legal judgments and your unique situation.
TAX MINIMIZATION STRATEGIES
Taxes can be one of your biggest costs throughout your working and retirement years, thus your future income can be greatly impacted. There are several tax minimization strategies that you may be able to incorporate into your overall financial plan. We work with you to determine strategies could help you keep as much of your income as possible.
Leaving a legacy means different things to different people. You may want leave everything to your kids and grandkids, or donate your wealth to charity. Regardless of your legacy wishes, it requires careful planning, sometimes years before the transfer of assets actually happens. We work with you to design a legacy plan while trying to make it is as tax-efficient as possible.