Personal financial planning involves finding the appropriate path for you to pursue your goals, on your schedule. We start with understanding how much each of your goals will cost. How much do you have saved? What gaps need to be filled? When do you want to achieve these goals? How much can you save? What market rate of return can we target given the time period allotted? Can we fund all of your goals without the need to prioritize?
Next we look at the pitfalls that may prevent you from realizing your goals. How will you or your family pay the bills if you become sick and cannot work or if you pass away unexpectedly? Will you need custodial long-term care? Do your assets give you the option to “self-insure” these risks? If you do, would it not be better to pass some of that risk on to an insurance company?
We’ll also assess the “leakages” that may erode your wealth. These include spending, taxes, fees, expenses. Litigation, fraud, theft, divorce settlements and other events might be leading to a loss of assets. We will find strategies to try to plug these leakages.
If you have specific targeted goals or personal financial planning goals, such as retirement planning or that you want help with, this service may be appropriate.
- Can I retire early?
- Are my investments working hard enough?
- What’s the best approach for college savings?
- What are the elements of a sound estate planning strategy?
- Do I have enough life insurance for my family?
