THE PLAN & PROCESS

Financial Planning is the process by which one systematically builds and manages wealth over time, aiming to:

• Have income for life
  
• Leave a desired legacy
  

Examining your present financial situation

Do you have a clear picture of your goals and dreams?

How are you working toward your goals and dreams?

How do you track your current income and expenses?

Your net worth?

What financial benefits do you receive from your employer?

How are your current assets and liabilities impacting your cash flow management?

Accumulating wealth

What are your accumulation goals?

• Saving for retirement
  
• Buying a home
  
• Investing for education
  
• Becoming a business owner
  
• Other goals
  

How do your current investments support your accumulation goals?

How much is needed? By when?

Will you have what you need?

What has your approach been to the following?

• Goal prioritization
  
• Risk tolerance
  
• Market fluctuations
  

Planning for retirement

What do you want to do in retirement?

How do you plan to make your retirement vision a reality?

Are you on track?

Are you confident that you will be able to recreate your paycheck in retirement?

How are your liabilities impacting your retirement goals?

How well do you understand the impact of inflation and taxes on your retirement savings and withdrawals?

Protecting what’s important

How might unexpected events impact your family’s goals?

What can’t you afford to lose?

How will you provide for dependents?

How have you prepared for financial risks?

• Illness
  
• Disability
  
• Long-term care
  
• Loss of life
  

What has your approach been to the following kinds of insurance protection?

• Auto insurance
  
• Home insurance
  
• Personal liability umbrella
  
• insurance
  

Managing your taxes

How do you manage your taxes?

What strategies do you use to help you manage timing of income and deductions?

What preferred tax rates are you using?

• Capital gains
  
• Dividends
  
• Other
  

What is your understanding of current tax laws and how they apply to you?

Leaving a Legacy

How would you like your assets distributed when you are gone?

How will your intentions be realized?

• Beneficiary designations
  
• A will
  
• A trust
  
• Power of attorney
  
• Health care directives
  

What purpose do you want your financial legacy to serve?

• Financial security for your family and loved ones
  
• Donations to a charity
  
• Support for your community
  

Will your plan let you achieve all your goals? How do you know?

Step 1: Prioritize your objectives

We’ll discuss your dreams, your goals and needs to develop a clear financial vision of your future.

Step 2: Gather information

Collect and understand important documents such as brokerage and bank statements, tax returns, insurance policies and retirement plans.

Step 3: Analyze information

We’ll work together to understand the big picture of your financial situation, and how the different elements may impact each other.

Step 4: Propose recommendations

We’ll provide specific and ongoing financial recommendations that align with your plan.

Step 5: Take action

Once we propose specific financial strategies to help you pursue your goals, you can take action on your plan.

Step 6: Track ongoing progress

Because your goals and needs evolve over time and finances are dynamic, it is important to track your progress as part of an ongoing process.