WHY A FINANCIAL PLAN?
We all recognize that the economic world we find ourselves in is difficult. It is very hard to assess objectively our own economic situation. Harder still to develop a financial strategy that will consistently enable you to lessen the damage that inflation and taxes do to your financial independence.
The Financial Plan requires you to determine short and long term goals. It also provides a comprehensive review of your present financial picture; identifies problem areas; and provides appropriate remedies.
Finally, a Financial Plan is an evolutionary process. Periodic review and evaluation is necessary to keep up with the ever changing world of taxes, inflation and your own personal situation.
Your plan when prepared by us will include the following:
Text of Financial Planning Concepts:
- GLOSSARY: To help acquaint you with and understand terms used in the financial services industry
- BUILDING ASSETS: Explores basic investment concepts and strategies for building net worth
- TAX PLANNING: Explains basic methods of reducing income
- ESTATE PLANNING: Reviews basic estate planning tools, i.e., Wills, Trust, Power of Attorneys and Property Ownership
- ESTATE TAXES: Discusses the effects gift & estate taxes will have on passing your estate on to your heirs
- FAMILY PROTECTION: Outline of Insurance needs & educational funding, overview of types of insurance to be considered for: Life, Disability, Medical, Long-term Care and Property/Casualty Insurance, and looks at the various methods to fund education.
Personal Financial Statement: A snapshot of your current financial position which will reveal your working capital, liquidity and diversification of assets.
Income Tax Projection: A three year projection which will allow us to maximize your tax planning opportunities.
Family Expense Report: Will give you the basic information as a tool for managing your budget and provide data to determine other important planning needs.
Cash Flow Projection: A three year projection to give us the necessary information to determine your discretionary income available for meeting your stated goals and objectives.
Education Funding: Determines the need and explores the alternative methods of funding educational costs.
Financial Independence: Provides us the information to calculate and determine the amount of capital needed to achieve your financial independence and through our asset management process we will develope a method for reaching that goal.
Estate Planning: Gives us the data to estimate your estate settlement cost, ie: Taxes and Administrative expenses, explore methods to reduce these costs and still achieve the distribution pattern which meets your objectives for your heirs.
Risk Management: Enables us to determine the proper amount of insurance needed and a portfolio analysis to help minimize the associated cost.
These benefits can be provided for as little as $600 per year.