How does the financial planning process work?
1) Discover your financial and personal goals. We want to know what gets you out of bed in the morning and what keeps you awake at night. A happy life is about a lot more than money.
2) Determine if you’re on the right track. We do this by looking at your current and future financial picture based on what you’re doing today.
3) Identify what can be changed to steer you in the right direction. Knowing the gaps and opportunities you have can help you reach your goals and give you peace of mind.
4) Prioritize and execute any changes. Implementation is the key ingredient to a successful financial plan. We will work with you and your other advisors to set everything in motion.
5) Monitor to stay on track and adjust for any unexpected changes. Financial planning is a process, and the most successful clients revisit their plans regularly, not just when a crisis strikes.
Our detailed financial plans typically include:
- Balance sheet showing assets, liabilities and net worth
- Future cash flow projections in retirement
- Review of current debt structure and savings plans
- Analysis of investments and assessment of risk tolerance
- Review of life, disability and long-term care insurance coverage
- Retirement planning projections incorporating social security strategies
- “What-if” scenarios that stress test your plan under unexpected events
- Written recommendations and detailed instructions for implementation
- Two follow up phone calls to answer questions and monitor progress
