Broker Check

Personal Financial Planning

A financial plan starts with a review of the client’s current financial position and an assessment of progress towards meeting the client’s financial goals and priorities. A plan typically includes the following elements:

Cash Flow Planning

Cash flow planning is the foundation of a sound financial plan.  Cash flow analysis (careful review of income, expenses, savings rate and investments) is critical and drives the rest of the financial planning process.

Retirement Planning

As clients mature and enter their peak income years, the focus often turns to retirement planning.  Retirement planning includes analysis of longevity expectations; expenses and inflation; social security maximization; sustainable withdrawal strategies; investment asset allocation; Medicare and long term care; income tax planning; and estate planning.

Investment Planning

Investment planning includes consideration of personal risk tolerance; risk management; income and liquidity needs; asset allocation; diversification among and within asset classes; tax management; account type and security selection; and fee management.  

Risk Management/Insurance

Insurance planning is a key component of financial planning and includes survivor income and needs analysis; health and disability protection; long term care risk management; and liability and property value protection.

Tax Strategies

Careful tax management can increase retirement nest eggs and retirement income and increase the likelihood of a successful retirement.  Tax strategies may include: tax loss harvesting; tax efficient investing; tax efficient withdrawal strategies; account tax diversification and Roth conversions; tax-advantaged savings vehicles and accounts; pass-through business income deduction; and qualified retirement plans.