Financial Planning

Establishing a destination without direction will only take you so far. We help draw a map so you can get where you’re going.

GOAL ASSESSMENT

We begin by helping you determine financial goals, taking into account the particularities and unique factors for each client.

Short-term goals are those you hope to achieve in the next five years—such as paying off debt or buying a new car.
Medium-term goals are those you hope to achieve in the next five to 10 years—such as the down payment on a home or starting your own business.
Long-term goals are those that are 10 or more years away—including college and, of course, retirement.

NET WORTH STATEMENTS AND ASSET PROJECTION

We create and build net worth statements and monitor them on an ongoing basis through Black Diamond, our customized wealth management platform.

CASH FLOW TRACKING

From budgeting to emergency funds, debt management, and cash flow planning, we customize and track cash flow for our clients.

Budget
Your budget is a key part of the road map and can help you determine where your money is going and where you can cut back in order to meet your goals.

Emergency Funds
When something unexpected happens—you lose your job, for example, or get hit with an unexpected medical bill—an emergency fund can help you avoid tapping your long-term savings to make ends meet.

It’s generally a good idea to save enough to cover at least three to six months’—but ideally up to 12 months—worth of essential living expenses (e.g., groceries, housing, transportation, and utilities). Save this money in a highly liquid checking or savings account so you can access it in a hurry should the need arise.

Cash Flow Planning
Whether you’re building toward retirement or have already entered into it, assessing your cash flow needs and expense budgeting is critical to developing a sustainable plan. We use tools like MoneyGuidePro, a robust software that accounts for hundreds of variables, to help clients visualize their long-term plans.

INSURANCE PLANNING

Nobody really likes discussing insurance, but we respect its importance in a holistic financial plan. From health insurance to life insurance to long-term care, we advise clients on appropriate levels of coverage. And even though we’re licensed to sell it, we always outsource it to other brokers, never seeking to sell a product to receive a commission.

RETIREMENT PLANNING

Retirement planning determines retirement goals and the actions and decisions necessary to achieve those goals. This includes identifying sources of income, sizing up expenses, implementing a savings program, and managing assets and risk. Future cash flows are estimated to gauge whether the retirement income goal will be achieved.
Ideally, retirement planning is a lifelong process. You can start at any time, but it works best if you factor it into your financial planning from the beginning. That’s the best way to ensure a safe, secure and fun retirement — all reasons to pay attention to the serious and perhaps boring part: planning how you’ll get there.

EDUCATION PLANNING

At least for our own kids, hopefully college is “free” someday! But hope isn’t actually a sound strategy we support. Instead, we help parents and grandparents plan for post-secondary education. We manage both 529 Plans and UTMA accounts.

TAX PLANNING & TAX MANAGEMENT

We aren’t CPAs, but we have years of experience working closely with tax professionals and guiding clients to making tax-efficient decisions. We feel that the relationship between a client’s financial advisor and CPA should be synergistic and proactive. We can work hand-in-hand with your personal CPA, or connect you with one of our preferred local professionals.