Accumulating Wealth
Our first priority is assessing what you value most. Every client has a different mindset entering the early stages of life. Some are focused on paying off student loans, others are worried about budgeting day-to-day expenses, and some may be consistently contributing to their 401K already looking ahead into retirement. Our goal as your financial advisor is to help prioritize these short-term goals so that we can make your long-term goals a reality. Whether that may be simply living within your means, buying your dream boat house, or leaving a legacy for family.
Managing Wealth
As clients continue to maintain focus on accumulating wealth, they eventually start to face roadblocks along the way. Some factors to take into consideration include educational funding, insurance, tax planning, and retirement funding. Clients begin to think about a family and this is where the purchase of a home, insurance for themselves and their kids, funds for future college expenses, and many other barriers a client may not think about come into play. This is a very important decision-making point along client's career paths that will help set them up for future financial success. That is why it is our job to help guide the client as they battle these uphill barriers.
Pre-Retirement Planning
As we continue to guide our clients down their financial path, we start to shift gears as they enter the pre-retirement planning stage. Clients need to take a step back for a second and visualize the big picture. They need to ask themselves where do I want to be at in the next 5-10 years, how do I maximize social security benefits, am I financially stable enough to retire, and ultimately what do I need to do down the home stretch to live a happy retirement life. As the client's motives start to change, we begin diving deeper in asset allocation remodeling. Clients start to lose income as their career comes to an end and it is our job to replace that income for them now and come retirement.
Retirement & Legacy Planning
Our last priority as the client's career winds down and they enter retirement is to make sure all the pieces are in the right place, so that they can have a smooth transition. This process can be quite simple such as reviewing beneficiaries, making sure the client's RMD is taken each year, and keeping tabs of any family gifting or charitable donations that need to be made. This can also be very complex where client's attorneys, accountants, and financial advisors all must work together to dissect an estate plan. Legacy planning can become overwhelming, but if the client and their financial advisor continue to effectively communicate amongst each other they will leave no room for error. As our team preaches, open and honest communication has been and will continue to be the cornerstone of our foundation of success.
