Here is a list of common topics, among others:
Identifying Goals. This is the main reason for financial planning. Whether your goal is to get your child through college debt-free, retire early or save for an annual family vacation, knowing where you are now is the necessary first step to reaching these goals.
Risk Management. This term is often used simply as a synonym for insurance, but it is so much more. It also includes ample cash reserves, adequate savings rate, estate planning documents and an appropriate investment portfolio.
Railroad Retirement Strategies. When is the right time to retire? How do I maximize my hard earned retirement benefits? How do Tier 1 and Tier 2 benefits affect my overall retirement? When can I comfortably retire? We will work through these questions and more to make sure that no stone is unturned in regards to retirement maximization.
College Preparation. No matter how old your child is, there’s something we can do to prepare for the cost of his or her education. I can help you figure out your best strategy and review your financial picture as it relates to eligibility for financial aid.
Employee Benefits Optimization. October and November of every year is usually a stressful time: open enrollment, 401(k) contributions, life insurance, employee stock purchase plans, legal services...the list is long. We review your benefits and determine whether you’re taking full advantage of the benefits available to you.
Healthcare and Long Term Care. We will help you navigate the intricacies of health care planning, especially in retirement. Medicare elections, Medicare supplemental plans, Long Term Care Insurance plans, and other health related issues will eventually arise and we will help you prepare.
Estate Planning. For most people, estate planning is a way of protecting your children in case anything happens to you. I can help identify needs in your existing estate plan and coordinate with your attorney to ensure that your estate plan works well with your overall financial plan.
Investment Analysis. Do you have investments spread all over the place and little idea how they all work together? I can explain the details and provide a high-level view of your entire portfolio as it exists today while recommending how to tailor it to your goals.
Cash Flow Management. We review your income and expenses to determine how much you are saving, how much you should be saving and where these savings come from. I can help you set up a system that is automatic and makes it easy to stick to your plan. If you have debt, we can also advise you on how best to pay these debts.
Tax Planning Strategies. I want you to understand your taxes and how they interact with the rest of your finances. I also look for ways to minimize current and future income taxes as a part of your overall financial plan. Knowledge of your tax situation will help guide strategy for investing income. I coordinate with your tax professional to make sure your tax decisions work well with the rest of your financial plan.
