Individual Retirement Planning
Saving a percentage of your income in your employer-sponsored retirement account—at least enough to get the full company match—is a good start.
We spend much of every day helping our clients understand what they have, if they are on track to reach their goals, and what do they need to do to get there. For many, retirement planning is a central focus of those discussions. Traditionally, the problem with financial planning is that it often leads to a reporting output that is so large and infrequent, that it simply collects dust on your bookshelf or is left unopened on your hard drive. Ultimately, ongoing discussions are not had, and actionable ideas are not acted on.
HOW WE APPROACH RETIREMENT PLANNING
We have partnered with Asset+Map to help layout your entire household’s finances on one simple-to-understand page. In turn, we can bring forth actionable ideas that give you confidence in the path ahead.
Life is constantly changing, and your ability to understand the impact on various decisions should be made in as real time as possible. Providing an annual financial plan doesn’t cut it. Are you contemplating a job change and want to know what type of impact it may have on your long-term retirement planning strategy? Did your child recently receive scholarship money toward college, and you want to know what impact there may be if you start shifting money from a 529 plan to your retirement plan accounts? These are just a couple examples on relevant discussions that pop up in our lives. We are here to help you through it.
We center most of our discussions around what we call, “Financial Fire Drills”, which are six events that commonly change the course of financial well-being. With this, we can help develop household plans and approaches in dealing with these financial eventualities.
“What is your/the household plan in the event of __________?”
Liquidity Needs
Long-Term Disability Events
Loss of Life
Long-Term Care Events
Longevity (long-term cash flows)
Legal/Liability/Legacy