Financial Planning
Retirement Planning
Our retirement process begins by encouraging you to envision your retirement lifestyle.
What age would you like to retire?
Where would you like to live?
What activities do you want to do in retirement?
Etc…
Once you have an idea of what retirement looks like for you, it's time for us to develop a plan to make that vision a reality. Together we will look at your current assets and project where those assets could be in the future. Should your vision be bigger than your current means, we'll show you what changes can be made now to help you get on track to reaching those goals in retirement.
A primary focus when putting together your retirement plan will be to minimize the taxation of your retirement assets. While working, you have many different retirement saving options like your employer-sponsored plan, Roth IRA, taxable savings, etc. Each option will be taxed differently upon distribution in retirement. We will use the types of accounts above to develop a savings strategy for you that will both minimize your tax liability now and in retirement.
Once retirement begins, we will help you transition your savings strategy into a spending strategy that will best utilize and preserve your assets while giving you spending flexibility in retirement.
Estate Planning
At your death, you leave behind the people that you love and all your worldly goods. Without advance planning, you have no say about who gets what, and more of your property may go to others, like the federal government, instead of your loved ones. If you care about (1) how and to whom your property is distributed, and (2) ensuring that your property is preserved for your loved ones, you need to know more about estate planning.
Creating a successful estate plan takes specific goals. Key estate planning goals are minimizing taxes, avoiding probate, retaining control over property, protecting assets, and protecting against incapacity. There are a number of devices that can be employed to accomplish these goals; among them are gifts, wills, trusts (living or irrevocable), joint ownership arrangements, and beneficiary designations.
Working closely with your attorney, the work we do now will help organize your affairs. This will help to make the transition easier for those you leave behind.
Investment Tax Planning
Investment planning can be important for several reasons. However, any discussion of investment planning is incomplete without a thorough understanding of the applicable income tax ramifications. Tax planning can help you reduce the tax cost of your investments. Once we have created an investment plan to work toward your various financial goals, we will take advantage of the tax rules to ensure that you maximize the after-tax return on your investments. In other words, our goal is to select tax-favorable investments that are consistent with your overall investment plan.
Tax investment planning involves maximizing the after-tax return on your investments. This is beneficial because the wealth that remains after you pay your taxes is ultimately more important to you than the value of your investments. It's the after-tax payout that enables you to finance a home, a child's education, a vacation, or your retirement. We will help you make the best possible investment decisions to create a portfolio that maximizes your after-tax wealth.
Special Situations
Sometimes in our lives we come into money unexpectedly. Whether it be through a divorce, loss of a loved one, or a financial windfall, asset protection becomes very important. You will be faced with decisions that will have a significant and lasting impact on your future financial well being. We are here to help you sort through your affairs, identify any problems or issues, and prioritize the decisions that must be made at a pace that is comfortable for you. In these times, it is important to have a trusted partner who is familiar with such situations.
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