What We Do
Financial Goal Setting
Building and preserving wealth: Our clients focus on building and preserving their wealth over the long term. We help to develop investment strategies that help them grow their wealth while minimizing risk.
Charitable giving: Our clients have a strong desire to give back to their communities and support charitable causes. They may set goals for how much they want to give each year and we work to create a giving plan that aligns with their values and financial objectives.
Tax planning: Our clients are often subject to higher tax rates and may need to take additional steps to minimize their tax liability. They may work with tax professionals to develop strategies that help them reduce their tax burden while complying with applicable laws and regulations.
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Retirement Projections
Determining retirement income needs: Retirement planning involves estimating how much income you will need to maintain your current lifestyle after you stop working. This includes factoring in expenses like housing, healthcare, food, transportation, and leisure activities.
Creating a retirement budget: Once you have determined your retirement income needs, you can create a budget that accounts for all of your expected expenses. This can help you plan for how much you need to save and how to allocate your retirement savings.
Calculating retirement savings: Retirement planning involves estimating how much you need to save in order to reach your retirement goals. This includes factoring in your current savings, expected Social Security benefits, and any pensions or other retirement income streams.
Choosing retirement accounts: There are various types of retirement accounts available, including 401(k)s, IRAs, and Roth IRAs. Retirement planning involves choosing the accounts that best suit your needs and goals.
Managing investment risk: Retirement planning involves managing investment risk, including diversifying your investments and rebalancing your portfolio as you age.
Planning for healthcare costs: Healthcare costs are a major expense in retirement. Retirement planning involves estimating how much you may need to pay for healthcare and considering options like long-term care insurance.
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Insurance Planning
Insurance planning involves evaluating an individual's insurance needs and identifying the most appropriate insurance policies to mitigate financial risk. Examples of insurance planning include:
Life insurance planning: This involves determining the amount of life insurance needed to protect loved ones in the event of the policyholder's death.
Disability insurance planning: This involves identifying the amount of disability insurance needed to replace lost income if the policyholder becomes unable to work due to illness or injury.
Long-term care insurance planning: This involves evaluating the need for long-term care insurance to cover the cost of care for individuals who can no longer perform daily activities due to illness, disability or aging.
Health insurance planning: This involves evaluating the type of health insurance needed to cover medical expenses, including hospitalization, prescription drugs, and routine check-ups.
Property and casualty insurance planning: This involves evaluating the need for homeowner's insurance, auto insurance, and liability insurance to protect against financial losses due to property damage, theft, or accidents.
Business insurance planning: This involves evaluating the insurance needs of a business, including property and casualty insurance, liability insurance, and worker's compensation insurance.
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Portfolio Reviews
A review of a client's investment portfolio to provide an unbiased assessment of its performance, risk level, and alignment with the client's financial goals. This service is designed to give the client a fresh perspective on their investments and to identify any potential areas for improvement or optimization. The financial advisor may analyze the portfolio's asset allocation, diversification, fees, and overall risk level, among other factors. The goal is to provide the client with an independent evaluation of their investment strategy and to help them make informed decisions about their financial future.
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Gifting Strategies
Annual Gift Exclusion: This strategy allows an individual to gift up to a certain amount without incurring any gift tax. This can be a great way to transfer wealth to loved ones while reducing the taxable value of an estate.
Charitable Giving: Charitable giving is another effective gifting strategy that can benefit both the donor and the charity. Charitable contributions can be deducted from income tax and can also reduce the taxable value of an estate.
Trusts: Trusts can be an effective gifting strategy, particularly for individuals who want to transfer assets to their heirs while minimizing taxes and maintaining some control over the assets. There are different types of trusts available, such as a revocable living trust or an irrevocable trust, which can be tailored to an individual's specific needs and goals.
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Giving Strategies
Planned giving: This involves making a charitable gift or donation as part of a larger financial plan, usually with the assistance of a financial advisor or attorney. Planned giving can include donating appreciated assets like stocks or real estate, setting up a charitable trust, or naming a charity as a beneficiary in a will or life insurance policy.
Donor-advised funds: These are charitable giving accounts that allow individuals or families to make donations to a public charity and receive an immediate tax deduction. The funds can then be invested and grow tax-free, and the account holder can recommend grants to other charities over time.
Impact investing: This is a type of investing that seeks to generate a positive social or environmental impact alongside financial returns. Impact investors may invest in companies or funds that align with their values, or seek to support specific causes or issues through their investments. This strategy can allow individuals to support causes they care about while also achieving financial goals.
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Financial Education
Monthly Newsletter: Our monthly newsletter helps clients to stay informed, educated, and engaged with their financial planning, which can ultimately lead to better outcomes.
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Wealth Transfer
Wealth transfer refers to the process of passing on one's assets to their heirs or beneficiaries after their death. The value of wealth transfer lies in its ability to help individuals ensure that their assets are distributed according to their wishes and values, providing financial security and support for their loved ones. Wealth transfer can also help individuals minimize the impact of taxes and other expenses on their estate, allowing them to leave a greater legacy for their beneficiaries. Additionally, the act of planning for wealth transfer can help individuals establish a clear sense of purpose and legacy, giving them greater peace of mind and a sense of fulfillment in their financial planning efforts.
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Retire Confidently, Transfer Wealth Wisely
We focus on working with individuals and families who seek to establish a robust financial plan for their future. Specifically, we specialize in helping clients transitioning into retirement and those who wish to transfer $1 Million or more to their children or charitable causes during their lifetime. We take pride in providing our best efforts to support our clients in these important financial matters.
