In fact, it seems many clients do not know all that we offer. We have tried to share our many services with clients in various ways, including with the creation of our Financial Future Planning Chart
, which lists and explains many of the services we offer. Now that 2017 is right around the corner, we want you to consider the many ways we can assist you in the New Year.
Whether you already have an estate plan or not, we can help. We believe estate planning is one of the most important things you can do to ensure that your wishes are met even after you are unable to carry them out yourself. Proper estate planning can also help avoid family disputes and misunderstandings about the administration of your estate.
We help our clients prepare and review estate plans, minimize estate taxes, review and consider charitable giving, and think through decisions about guardians, beneficiaries, and administrators. Is it time to review your estate plan?
Retirement Planning: WealthMatch
This definitely ties into the financial planning aspect of our business, but our retirement planning goes further with thoroughness and thoughtfulness. With the help of WealthMatch, we are able to create and review scenarios way into the future to help you see where you are now and where you’re headed. WealthMatch is designed to connect your financial decisions to the people and things that matter most in your life – helping clients live the best days of their lives!
(*see disclosure at the end of this article)
We can help you set retirement goals and make your “bucket list.” Then, we can create a WealthMatch plan and review it with you periodically to help you remain on track toward your goals. As part of the retirement planning, we also perform social security analysis, cash flow analysis, and review of retirement plans, annuities, and pensions. Also, if you are considering IRA contributions or Roth conversions, or if you need help figuring out how to approach Required Minimum Distributions (RMDs), we can help you strategize.
If you don’t have any insurance policies, you should consider different types of policies for different reasons. Many of our clients have multiple insurance policies and we know that staying on top of them can become overwhelming. An insurance policy shouldn’t be a “set it and forget it” type of document. Because we know that circumstances can often change, we encourage our clients to review their insurance policies at least annually.
When was the last time your reviewed your insurance policies? Policies get out of date and we can often obtain substantial cost savings for clients. We help our clients review existing policies on an annual basis, including health insurance (and health savings accounts [HSA]), homeowner’s or renter’s insurance, and liability insurance. But we also assist with analyses of life insurance needs, long term care insurance, and disability insurance. Additionally, we offer Medicare advice and guidance, which we believe you will find to be an invaluable service.
Cash Flow and Budget Planning
Creating a spending plan for your money is vital and helps organize your money to use it effectively for the things that are important to you. It can also help you stay out of debt (or get out of debt).
We can help you review your income sources, manage your debt, plan for large expenses, and create an emergency fund. Additionally, we can consider dollar cost averaging, as well as review your mortgage options and discuss the benefits/risks of obtaining a line of credit.
Now is the best time to get started on your 2017 budget – have you started?
Assistance to Loved Ones
Being a parent or caregiver can be overwhelming, especially with respect to financial planning for your loved ones. We assist our clients with gifting options and establishing trusts, including special needs trusts. We also help clients plan for college (for their children and grandchildren), including assistance with 529 College Savings Plans and UGMA/UTMA accounts.
Caring for the elderly is also something we feel strongly about, and we are always looking for ways we can help our clients care for their aging parents and other family members. We have even assisted clients in their search for a retirement home or assisted living facility, and created plans to help fund these types of living arrangements for their loved ones. Consider your needs and let us help.
Tax planning is huge and can really help you save money if given the right attention. We always consider tax sensitive investing for our clients. But, toward year-end, tax planning is especially important. We can review cost-basis, realized gains, tax loss harvesting, and tax returns, as well as consider carrying forward losses. Considering deductions and credits, and reviewing your health savings and flexible spending accounts, as well as potential Roth conversions, can also help you save money. (Traditional IRA account owners should consider the tax ramifications, age and income restrictions in regards to executing a conversion from a Traditional IRA to a Roth IRA. The converted amount is generally subject to income taxation.)
No matter what you’re going through or what you’re considering, we encourage you to talk to us about it. Don’t assume we can’t help, rather assume we can! Even in instances where we can’t directly assist you, we will do what we can to get you in touch with the appropriate professionals and set you on the right path. Please contact our office with any questions. No matter where you’re headed, it is our mission to guide our clients on their journey towards well-being and a prosperous life.
Call us. We are here to help!