The Pursuit of Financial Success Begins with a Plan

Realistic goals provide the foundation for a solid financial plan. That is why it is important to codify your own. They can include educations for children, a second home, your income needs in retirement, your philanthropic interests, and plans for your estate. Because no two people are the same, building a financial plan around your specific goals creates a plan that is uniquely yours. We will work closely with you to identify and define your near- and long-term goals, check for goals that may conflict and work to resolve conflicts that arise. Even more important, we’ll set metrics with which to define success and adjust your plan as necessary.

Develop a Complete Financial Picture

Along with a complete picture of your goals and time horizons, a personalized plan must incorporate current assets and liabilities in order to establish your net worth and monitor it throughout the years to come. We also consider your comfort level with risk so investments can be made accordingly. If applicable, consideration is also given to consolidating accounts to make finances and cash flow easier to track and manage.

Monitor and Optimize Performance

Finally, we believe a financial plan should be as dynamic as the life it represents. That is why we continually monitor your plan’s progress relative to your defined objectives. Should changes need to be made, we rely on myriad resources and experts to help guide our decision process and also to suggest appropriate actions or strategies. Together, we can review the options and make objective decisions. To keep you apprised, we provide ongoing reporting of your account activity and conduct periodic reviews. Because we are truly partners in this important endeavor, we also rely upon you to communicate any significant changes in your life.

Planning for a long, fulfilling life

Many of today’s retirees can expect to spend 30 years or more enjoying the fruits of their labor. That’s why it’s increasingly important not simply to plan for retirement, but to plan for longevity in retirement - all of the years it might last, all of the ways your life will change and all of the events you can’t foresee.

In addition to the financial implications, retirement has life implications. Our knowledgeable and experienced team can help you sort through the possibilities and offer financial advice designed to guide you up to and through the retirement you’ve envisioned.

Ask yourself these key retirement questions:

Where will you live?

Whether you’re bound for a dream home or planning to stay put, housing likely will be your biggest expense in retirement. While aging in the comfort of your own home would be ideal, modifications to the home – or your plan – could be necessary as mobility and transportation challenges arise

let’s talk about:

• Do you want to stay in your home? Will it need to be modified?

• What housing options are available to you, and what will they cost?

• Would you want to downsize? Relocate to a pedestrian-friendly neighborhood?

How will you get around?

Being mobile means being independent. And retirement life brings more opportunity to go where you want whenever you want. That may help explain why transportation is the second largest expense for individuals older than 65 and accounts for about 15% of their annual expenditures, according to the Bureau of Labor Statistics. That’s why we make sure to account for it as part of your long- term financial plan.

let’s talk about:

• How will you get to your favorite places in retirement?

• Who will assist you if you can’t drive yourself somewhere?

• What transportation options are available in your area?

How will you safeguard your health?

Your health and your finances are intertwined in complex ways. Most expect Medicare to pay for their healthcare expenses in retirement. In reality, Medicare pays only 60% of healthcare costs.* You still will have premiums, copays, and deductibles. As you age, healthcare costs can add up.

let’s talk about:

• Do you have an existing condition? What will treatment cost over the long term?

• Do you know what costs Medicare will cover?

• How will you pay for what Medicare doesn’t?

• Have you considered Medigap?

*Employee Benefit Research Institute, 2015

How will you secure your legacy?

As you take the steps to plan for a comfortable retirement for as long as you may live it, it’s important to think even further. Ask yourself what kind of legacy you want to leave. How are you going to make sure you’re secure against financial fraud and work toward passing assets – and information – to your heirs to help secure your family’s future?

let’s talk about:

• Have you spent significant time thinking about your legacy?

• Who will have access to your important documents and information when the time comes?

• How will you protect your assets and inheritors from financial fraud?

Who will take care of you?

As we all live longer, chances are you may, at some point, provide care for a loved one or receive care yourself. Becoming a caregiver can be not only stressful, but also can have financial consequences if it requires taking time away from work. And long-term care is not covered by Medicare.

let’s talk about:

• Do you understand the full impact of being a caregiver?

• How will you get the care you need as you age?

• Should you consider long-term care insurance?

Will you have enough?

Giving yourself every opportunity to save enough for a long, fulfilling life requires careful, detailed longevity planning, strategies for saving, investing and taking withdrawals. Making the right Social Security claiming decisions is vital to optimizing your retirement income strategy.

let’s talk about:

• When are you planning to retire?

• What sources of income will you have in retirement?

• How much income you will need in retirement?

Helping you address your retirement planning priorities

We understand that there should be no compromise when it comes to your financial future. That’s why we work diligently to serve as the ultimate steward for your wealth, simplifying life’s complexities with a full spectrum of strategies for a tailored plan that we believe is the only one you’ll ever need.

No matter what stage of life you’re in, we can help you pursue independence, freedom and the things that matter most to you. Your journey begins now. Let us help get you on your way.

Planning for retirement

When it comes to your financial future, the most important factor in your favor is your age. We take advantage of the time you have, regularly contributing to tax advantaged retirement accounts and potentially boosting savings with matching funds offered by your employer.

Your goal should be to begin building up enough assets to provide adequate income to meet your needs throughout retirement – accounting for factors like increased longevity, healthcare costs, and inflation. To accomplish this goal, you need a plan. That’s where we can help.

Wherever your work or life leads you, we assist in managing your cash flow and allocating your resources, striving to help you reach both your short- and intermediate-term goals without endangering your long-term plans.

Almost to retirement

Life has a way of throwing curveballs. As you approach the end of your career, you may have questions about what comes next or if you’re ready emotionally. Together, we uncover the answers, identify and address any concerns you may have, and update your estate plan to reflect your current wishes.

We start by identifying your short- and long-term goals. When do you want to retire? Where do you want to live? How will you spend your days? Then, we estimate income and expenses for the life you’re envisioning, taking into account the unexpected and other obligations so they won’t catch you unprepared.

In retirement

With the right plan, we bring your vision into sharper focus, so you can enjoy the lifestyle you want and deserve. Keep in mind that the planning doesn’t stop when your paychecks do. It’s a continuous process that goes on all the way through retirement.

We analyze your current situation to help you remain on track to pursue all you’ve envisioned from retirement, identifying sources of income and expenses to create and adhere to a tax-efficient withdrawal strategy. We make the most of your assets and income streams by creating a steady and sustainable income strategy, consolidating accounts, if necessary, to effectively recreate the predictable cash flow of a steady paycheck and ensuring contributions to your philanthropic interests.

Your needs and wants will change during this time. We reevaluate your plan so you can maintain a clear picture of the kind of lifestyle you desire, reassessing your short- and long-term goals, plus your risk tolerance in retirement. We also make sure you have the proper up-to-date documentation to help ensure your legacy is preserved and wishes are respected.

As your life changes, so will your plan. We will regularly review your plan and make adjustments, as needed, along the way.