Goals Conversation
In order to determine "where you want to be," our financial planner must discover what is most important to you and to your family. By having you paint a mental picture of "where you want to be in the future," our financial planner can help you design a "financial plan" to get you there in an efficient way. It is important that you have clear goals, determine priorities and have a compass to get you back on course when necessary. Having a well defined financial plan that takes into consideration your personal values will help ensure completion of your financial goals.
Here is a sample of the most frequently asked client questions that require careful thought in providing appropriate solutions:
Retirement:
- How much money will I need in retirement to meet my desired lifestyle?
- What is the most appropriate retirement plan to maximize tax savings?
- How long will my retirement income last?
- Can I protect my retirement investments from market losses?
- Can I guarantee my retirement income streams for "Life?"
- Will my Social Security benefits be taxed?
Investments:
- How much risk should I take with my investments to reach my goals?
- How can I minimize downside volatility with my investments?
- What should I do when the financial markets and the economy tanks?
- Do I have my emergency money invested appropriately?
Education:
- When my child attends college, how much will it cost?
- In our personal circumstance, what is the best college saving plan?
- What options are available for financing college or financial aide?
- What is the appropriate investment risk with my children’s college money?
Business:
- How much money will I need to acquire net after taxes from the future sell of my business in order to retire in my desired lifestyle?
- How can a key employee or family member purchase my business when they have "no" money?
- I am a sole proprietor, how can I protect the business value at my death until my heirs can sell the business?
- Which type of retirement plan is more advantageous?
- I do not want to go into business with my business partner’s spouse at his/her death, what can I do to prevent this from happening?
- How can I retain key employees?
Estate:
- How can I minimize inheritance and income taxes for my beneficiaries?
- I have a child who works in the family business, how can I give the business to the participating child and treat my other children equally, especially when the business is my largest asset?
- How do I protect my beneficiaries in the event of a divorce or creditor issues?
- This is my second marriage, how can I provide for my spouse and protect my children’s inheritance?
- How do I provide and protect assets for a special needs child without disrupting their government assistance?
Risk Management:
- Will my family struggle financially in the event of my death?
- Can we survive financially if I have a disability or a medical catastrophe?
- Are are my assets protected?
- How do I prevent a long-term care event from destroying my spouse’s finances, children’s inheritance and/or my spouse’s health?
Cash flow & Balance Sheet:
- How much money should I have set aside for emergencies?
- How can I get out of debt as quickly as possible?
- How do I set up a workable budget?
Tax:
- How can I grow money tax deferred and minimize taxation?
- How can I minimize my current income taxes?
- How can I minimize and/or eliminate inheritance taxes?
- What are the best tax strategies for retirement savings?