We believe a “bottoms up” cash flow approach is the cornerstone to completing a robust comprehensive financial plan. In our opinion, these inputs provide the most accurate projections for your financial future. However, you should also be aware, and expect, financial plans to change over time. Therefore, we believe it’s important to update your financial plan when experiencing a life event, altering major goals or annually to update all major assumptions.
One can engage our services for an hourly charge of $200 to cover a specific area(s) of concern. However, we usually recommend a comprehensive financial plan to address all of your applicable financial planning areas holistically and consider the possible interrelationships between each. Comprehensive financial plans are a full review of your financial well-being and typically cost $2,000 – $3,500. If one is utilizing our Portfolio Management services, financial planning is included with no additional charge. The cost for Portfolio Management services are based on a tiered fee schedule that starts at 0.95% and scales down to 0.45% as one’s asset level increases.
Below are examples of questions that can be addressed within our financial planning services.
Investment Analysis
- What types of funds, ETFs or stocks should I be invested in?
- Are my investments properly diversified?
- What should my bond vs. equity allocation look like?
- I just received a large inheritance. How should I invest it?
- What should I do with my company stock grants?
- How do my company stock options work?
Cash Flow/Debt Management
- At our current rate, what does our net worth look like in 5 years, 10 years and 20 years?
- What do we need to do to be able to retire early?
- We are finally bringing in more money than we are spending, where should we invest it?
- I have enough of cash to pay my mortgage in full. Should I?
- Are we taking on too much risk if we purchase a second home?
Developing, Analyzing and Executing a Retirement Strategy
- Should I deposit into a Roth IRA or 401K and how much?
- I’m self-employed, can I set up a retirement account?
- I have a pension at work and am contemplating when to retire. I need help understanding what is the opportunity cost of retiring now vs. in the future?
Tax Efficiency
- I need $50K for a down payment on a house. Should I withdraw it from my savings account, taxable account or qualified account?
- Somebody told me to do a back door Roth IRA. Does it really make sense to?
- What is the most efficient way to minimize taxes while selling out of my current investments?
College Savings
- What amount of money do we need to save per year to have enough to pay for our child’s education?
- Does it make sense to open up a 529 college savings account?
- How much will college cost us for our child in 15 years?
Risk Analysis
- Do I need life insurance? If so, how much and what type?
- What should I do with the whole life insurance policy I bought 10 years ago?
- My employer provides some disability insurance, does it make sense to purchase a supplemental policy?
