A financial plan is a comprehensive written analysis of all aspects that relate to your personal finances. The purpose of a financial plan is to allow you to see exactly where you stand in relation to the objectives that are most important to you. Everything from cash flow management and budgeting, income tax planning, personal investments and company retirement plans, deciphering your benefits package, reviewing your insurance, to planning your estate can be covered a financial plan. All of these concerns are analyzed to see how efficiently they are working together to help achieve your goals. Typical goals that many clients have include planning for a worry-free retirement that will keep up with inflation, financing college costs for your children, paying for big ticket purchases such as a home or business, etc., and finding the appropriate balance that allows you to address them all as successfully as possible.
We specialize in working with "baby boomers" who are nearing or in the midst of retirement. Our most popular financial plan - a "Retirement Planning Analysis / Portfolio Evaluation" focuses on the key issues surrounding your retirement. It provides a detailed analysis of your budget and all retirement income sources - adjusted for inflation over time, and helps you visualize the feasibility of your retirement. Financial projections are made using a "Monte Carlo analysis" - illustrating the odds of a successful retirement. Also included is an objective evaluation of your existing portfolio compared to a recommended portfolio - taking into consideration the likely financial challenges ahead. This plan as well as future updates is provided to clients utilizing Investment Advisory Services (discussed below) with no additional fee, as the cost is covered by the asset management fee.
The objective analysis provided in a financial plan allows you to see your strengths and weaknesses, and helps you to make clear decisions without having to second guess yourself. A good financial plan will provide clear recommendations to the specific courses of action necessary in order to simultaneously address all objectives laid out in the plan, and periodic updates help to insure that things stay on course.