Step One – Discovery
During this initial meeting we take the time to find out about you, how you got to this point in life, and most importantly where you want to go from this point forward. We will listen to what you want, what’s most important to you. We will determine your personal risk tolerance, understand your investment experience, retirement income needs, current tax situation and any other relevant information.
Step Two – Financial Analysis
We then go to work evaluating your current financial situation and analyze your portfolio’s risk of loss, income tax efficiency, liquidity, growth opportunities, and true cost. Based upon those results, we will then start to construct an asset allocation model that is unique to you. We will help you invest your money based on what you want your money to do for you and your family.
Step Three – Strategy Session
During this complimentary session, we go over the results of our in depth analysis of your current financial situation. If you are like most people, you saved money for a long time to be able to use it when you retired to supplement your income and live your desired lifestyle. That was the Asset Accumulation Phase of retirement planning. But now you have to transition into the Income Distribution and Asset Preservation Phase. This transition is the key to creating a plan that will let you use your assets for income without ever worrying about running out of money during your lifetime. We will go over the strategies and recommendations and define expectations to ensure both parties are comfortable with the plan and commitment.
Step Four – Plan Implementation
During this process we reposition assets and fund the new plan while continuing to help you thoroughly understand your plan and the risks involved.
Step Five – Regularly Review and Adjust
We have created a comprehensive plan, but the work doesn’t stop there. As your life changes, just like the economy, markets and tax laws, planning strategies and opportunities will change. This requires continued monitoring and adjustments. We will meet with you as often as needed to monitor your plan. You may need more income in the future, you may sell your house and buy a new one, you may need money to buy a car or complete a home remodel. Whatever the situation, we will meet to review the best ways to adjust your plan to include these changes while continuing to maximize your probability for a successful retirement.