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"What do you want to be when you grow up?" Many people have no idea what they want to do after their work life. What would you like to do with all your free time? What are your hobbies? Are you really going to spend all your time golfing or gardening? Do you want to volunteer? Do you want to travel? Do you want to sell your house and move closer to your kids?
Step Two: Data Gathering
It may be 1-2 hours or more in a meeting. We’ll collect all data we can on account statements, brokerage accounts, bank accounts and to get a detailed look at goals and objectives, income, expenses, debts.
Step Three: Analyze & Evaluate Your Financial Status
We’ll examine your investments, cash reserves, income, expenses, employee benefits, insurance (life, health, disability, umbrella, long-term care), wills, trusts, beneficiary designation, real estate, debts and debt management.
Some triggers for reviews include major life changes: birth or death in the family or major financial changes. People at different ages have different goals and objectives, A 30-year-old may want to buy a home, whereas a 60-year-old may want to contribute to grandchildren’s college savings.
Step Four: Develop & Implement the Plan
Implementation, in our view, is the key as opposed to the plan design. It’s easy to create a “blue print” (financial plan), but it is much more difficult to hire a good builder. We focus our energy on helping our clients implement a plan. After we thoroughly go over the plan with you, we’ll begin putting the plan into action.
Monitoring and Managing the Plan & Making Necessary Adjustments
As an ongoing process, we’ll continue to monitor and manage your plan making any changes as we see fit. We’ll continue to evaluate any financial changes and have ongoing discussions about your plan.
Ready to begin? Call us at 800-808-7488 to schedule an appointment or learn more about the financial planning process. |
