Personal Retirement & Financial Planning
We help individuals identify and prioritize their financial goals. Although each client’s goals and objectives are unique, the process remains the same.
- Identify the goal
- Identify the time frame for accomplishing the goal
- Establish a plan for accomplishing the goal
- Implement the plan
- Monitor the plan and make needed adjustments
For many clients, the primary focus is retirement planning. Planning for retirement consist of two distinct phases, the accumulation phase and the income phase.
Steps in the accumulation phase
- Project the amount of income needed in retirement.
- Project the amount of money you will need accumulated to produce the needed income.
- Project the amount of income from all sources such as personal investments, retirement plans, inheritances, work after retirement and social security.
- Calculate based on projected retirement age how much additional you need to invest to achieve these goals.
- Identify and monitor appropriate investment vehicles.
Steps in the income phase
- Project how long you will need the income
- Project income requirements of your surviving spouse and/or dependents
- Select assumptions for growth rates, taxes & inflation.
- If appropriate, adopt gifting program
- Determine ultimate estate distribution