How We Can Help
It is important to have a clear picture of where you stand financially. Many people do not have an idea of how they spend their money or what they want their money to do for them. They need direction and discipline.
Many people make impulsive decisions about their money. They buy a "hot stock" recommended by a co-worker, invest in a highly touted mutual fund or buy insurance that may not be appropriate. The pieces not only don't fit together, they might actually conflict with each other and compound the problem. It is important to have an understanding of your goals and objectives. Our planning process can help to integrate your assets with your goals and objectives.
Retirement planning is not just about increasing wealth. It is about determining your goals and then setting you on a course to reach those goals through the development and proper management of your financial resources. Retirement planning is not a product; it is a process.
Things to Consider:
- Often a certain event or need will require guidance or help. These might include:
- Help in making investment decisions about your 401k
- Rolling over a retirement plan
- How best to withdraw funds from your retirement plan
- Handling an inheritance or other financial windfall
- Funding an education
- Reducing the amount of taxes that you pay
- Help in dealing with life transitions
You may need help with just one or two of these issues. Whatever your needs, planning should be based on the context of your personal and financial situation. We believe it is important to understand the client's relationship with money, their values and what is important to them.
Today's Challenges
Years ago, the financial life of the average family was relatively uncomplicated. People worked for the same company most of their lives, and lived a few years in retirement on Social Security and their pension. However, increased longevity, changing demographics and a more complex, dynamic financial world have changed all that.
Consider these tough financial facts:
- Many retirees today will live 25 or more years in retirement, requiring far more in the way of financial management of resources to maintain a desired lifestyle.
- Social Security and company pensions no longer provide the majority of retirement funds for many people.
- Healthcare costs and college education expenses are rising significantly faster than the general inflation rate.
- Tax laws change almost annually.
- Downsizing companies no longer provide cradle-to-grave benefits or job security. The average American changes jobs seven times in a lifetime, and millions of Americans are self-employed. This demands new approaches toward savings, retirement, taxes and estate planning.
- With couples having children later in life, many are "sandwiched" between paying for college and helping elderly parents, while trying to save for their own retirement.