Working With A Real Planner

GOALS – The purpose of planning is to reach your goals. We will help you establish and prioritize those goals. Are they needs, wants, or wishes? Short, medium, or long-term? 

HINT: A dignified, independent retirement is a goal. Investment performance is not.

CASH FLOWCash flow is the lifeblood of a plan. We will review your net cash flow (income – expenses) and help you establish or improve your budget. Can expenses be reduced? If you’re still earning an income, are you directing enough of your net cash flow toward your goals? If you’re retired, are your basic expenses covered by guaranteed income? Are you spending too much/not enough?

BALANCE SHEET – Your balance sheet is a snapshot of your current financial picture (what you own minus what you owe). We will help you figure out if you’re on track to reach your goals. If you’re not on track, what adjustments should you consider? 

Some other questions we address:

  • Does your asset allocation match your goals? Are you taking too much risk? 
  • Are you taking advantage of tax-smart planning? 
  • Do you have enough liquidity to cover emergencies and short-term goals?
  • Are you paying too much interest on loans? Should you pay down debt or invest?

PROTECTION – We will also help you identify possible interruptions to reaching your goals. What steps have you taken to make sure these risks can’t de-rail your plan? Do you have enough assets to self-insure, or should you transfer some of the risk to insurance companies? Which risks cannot be insured? Would your beneficiaries feel your estate is in good order if you died tomorrow? 

LONG-TERM RELATIONSHIP – Planning is a journey, not a destination.  Once a plan is in place, the remaining 80% of a real planner’s job is helping you stick to the plan for the long-term.