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The Wealth Management Planning Process

Because life changes quickly, your plan needs ongoing review and adjustment. Each conversation we have is a chance for you to share what’s going on in your life, and our meeting cycle ensures that we cover the major financial planning topics each year.

 

Goal Tracking

JANUARY - APRIL

In order to reach your financial goals it is important to track your financial goals.
 

In our first meeting of the year, we will help you reaffirm your priorities and measure progress toward your goals. This discussion may cover:

  • Review and update of your goals

  • Net worth and cash flow

  • Saving and investment strategies

    • Is your lifestyle sustainable based on your savings amount?

    • Are you saving to appropriate types of accounts to maximize tax benefits and investment opportunities?

    • Is the investment risk in your portfolio suitable for your goals, time horizon, and risk tolerance?

  • Stress tests to prepare for major economic disruptions

  • Strategies to enhance your gifting to family, friends and charity

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Mid Year Review

May - August

 

In our summer meeting we will help you understand and prepare for financial risks. This discussion may cover:

  • Contingency planning

    • Do you need to add to or modify your insurance portfolio (life, disability, long term care, liability, etc.)?

    • Could you become financially liable for aging family members or a dependent with special needs?

    • Are there other risks specific to your situation?

  • Your estate plan*

    • Who will inherit your money when you die?

    • Do you need to create or revise your will or other legal documents?

    • Do you need to create or update a trust? Have you properly implemented your trust?

    • Are your beneficiary designations up to date?

  • Legacy planning strategies to coordinate lifetime giving and bequests at your death

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Tax Planning

September - December

 

As the year comes to an end, we will review your income tax situation and consider strategies to reduce taxes*. This discussion may cover:

  • Reducing taxes this year

    • Available deductions or credits

    • Contributions to tax-advantaged retirement plans

    • Charitable gift planning

  • Minimizing future taxes

    • Contributions to Roth accounts

    • Conversions to Roth accounts

    • Tax-efficient investing

    • Planned giving to family

  • Pertinent updates to the tax code

  • Coordination with your professional tax advisor

    *Note: we do not provide tax or legal advice.

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In each meeting we will also review your investment strategy and our current market outlook.

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