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Financial Strategy and Goals-Based Planning

“Plans are nothing; planning is everything.” – Dwight D. Eisenhower

Building a solid foundation using goals-based, financial planning that is on-going and accessible so we can focus together on meeting and exceeding important milestones, regardless of market conditions and performance.

1. Goal Setting and Planning

  • Develop, implement and monitor all financial goals

  • Calculate net worth and review cash flow annually

  • Conduct annual planning evaluations and tracking of goals

  • Provide proactive follow-up on action items

  • Provide advice on healthy financial behavior, e.g. wants vs. needs

2. Retirement Planning

  • Evaluate pension plan structures, IRA’s, Roth IRA’s or qualified plans

  • Analyze distribution options for pensions

  • Calculate retirement plan benefits, including Social Security

  • Calculate IRS Required Minimum Distributions (RMD’s) and educate on regulations

  • Provide Roth IRA conversion calculations and advice

  • Educate on how the timing of retirement will affect retirement lifestyle

  • Review and update goals, objectives and priorities to analyze the impact of these changes on overall financial situation

  • Update financial projections to monitor the effect of stock and bond markets, changes to cash flow needs, risk tolerance and other variables

  • Analyze the effects of inflation on financial goals

  • Provide stress test analysis of portfolio, i.e. Risk Tolerance

  • Provide Social Security analysis and optimization

3. Educational Planning

  • Evaluation of the various vehicles for educational savings and selection based on individual needs

  • Monitor age of student(s) to ensure proper allocation based on risk tolerance and time horizon

  • Provide guidance and advice on financial aid and scholarship funding

  • Monitor state and federal tax laws for changes to education benefits, contributions, credits and deductions

4. Net Worth Statement and Balance Sheet

  • Gather and analyze information to create household balance sheet

  • Analyze debt structure and organization; assess lending opportunities

  • Evaluate mortgage financing, the economic benefits of refinancing, semi-monthly payment programs, accelerated payment programs and PMI reduction strategies

  • Calculate net worth

  • Monitor net worth to ensure the financial plan is working to preserve and grow assets

  • Help prioritize spending and prepare for potential pitfalls

  • Look for opportunities for additional savings

5. Benefit Plan Analysis

  • Provide advice to maximize employee benefits

  • Annual analysis of employee benefits

  • Provide stock option strategies

  • Provide advice on employee stock purchases as a part of overall investment strategy

  • Monitor contributions to retirement plans

6. Net Worth Statement and Balance Sheet

  • Provide information about tax-planning strategies

  • Work in symphony with CPA to enhance tax efficiencies in overall financial plan

  • Assist CPA with gathering data

  • Simplify tax reporting

  • Discuss tax benefits of optimizing 401(k), 403(b) or other retirement plan options

  • Provide information on the benefits of section 125 plans and health-savings accounts

  • Help reduce taxation of Social Security benefits

  • Provide advice on possible benefits of Roth conversions

  • Monitor tax law changes and the impact on overall situation

  • Establish and track cost basis on taxable accounts

  • Provide advice on retirement plan distributions prior to age 59 ½

  • Provide advice on Required Minimum Distributions (RMD’s) after age 70 ½

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