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The Benefits of Having a Retirement Plan

You’d never go on a long trip to an unknown place for the first time without using some mapping app, right?  Yet, some of the most important journeys of your life—saving for retirement, funding a child’s education, or building a financial legacy—are financial journeys.

Want to know if someone has a retirement plan?  Just ask them:  "What's your retirement date?"  If they don't have a date, they don't have a plan.

Do you really want to work for your hard-earned money for decades, winging it without a plan?

A common reason people don't have a plan is because no one ever showed them what one looks like and how easy it is to get started.

We’ll show you.  We’ll help you organize what’s needed.  And we’ll create a plan for you.

So when someone asks you:  "What's your retirement date?"  You'll be able to give them (and you) an answer.

What's In A Financial Plan?

A financial plan involves three things;

  1. Your Needs – Because it’s all about helping you achieve your goals
  2. Planning Software – It organizes and presents huge amounts of data
  3. Advisor Leadership – To design your strategy, analyze data, and explain it to you.

Your plan may address a single need or may show how many aspects of your financial life work together (or don't).  Today’s planning software tests your strategy against numerous scenarios to help ensure you optimize your return, but minimize your risk.

Financial plans are revealing.  If you believe in solving problems, you'll think your financial plan provides great benefit to you.  It's a dress rehearsal that reveals any problems which an advisor may help you correct prior to the actual performance.

Plan To Succeed

If you consider how much money you’ll earn and spend over a lifetime, often millions, having a plan to efficiently allocate your money to match your goals may pay for itself . . . and then some.

Would you do a project at work without any planning?  You wouldn’t.

Is that how you’re treating your own retirement and financial goals?

Your advisor can organize your investment accounts and insurance policies into a coherent, customized plan.  Your planning strategy will show you how much to save and how often to save under certain assumptions to reach your financial goal.

Driving through life without a financial plan?  That’s like driving without a map.  Unnecessary.

Help Prevent Financial Problems Before They Occur

A huge benefit of having a plan is you may uncover a problem, such as when you might run out of money, many years in advance.  (See the red colored area of the chart.)  That foresight allows you to more easily fix the problem so you never have to experience it. 

For example, the red area in the chart shows a shortage of household income starting in 20 years.  Seeing this decades in advance helps you make changes now to prevent that problem from ever occurring.

Schedule Your Financial Celebrations

The day you pay off your mortgage, pay for your child’s college education, or reach your financial independence day—those are worth celebrating.

Retirement?  It's just a word.  That’s the day you can work because you want to, not because you have to.  It's possible.  Schedule it.

Our Planning Capabilities

Your advisor will use planning software to organize his or her thoughts for your benefit.  A lot goes into designing a strategy that fits your needs. 

Planning:  It’s About You

There’s a reason we were given two ears and one mouth.  Effective advisors use these in the same proportion, spending about twice as much time listening to clients as speaking to them.  Your advisor may carefully spend time helping you clarify your goals because that’s what your plan is supposed to reflect:  where and how you get there.

A Plan For Life

You should periodically review your plan so it reflects any job changes, new situations, and updated needs.  That’s one reason many advisors serve their clients as “lifetime advisors”.  The engagement may not be to help you launch your financial journey, but to help ensure you achieve your goals.

Financial Consulting

Our vast resources allow us to assess many financial problems you or your company faces on a complimentary consultative basis.  But for special purpose projects we offer an option:  we'll design and perform a consultative analysis to your specs for your purpose for a fee.

Examples of corporate decision making which may benefit from independent, fee-based consulting include:

  • Board of Directors-sanctioned advisor opinion of plan alternatives
  • Charitable organization fundraising strategies
  • Pro forma multi-employer plan architecture strategies
  • Other projects per your specifications

Personal consultative projects often include an advisor opinion to help the individual with wealth-based decision making, such as: 

  • Personal asset allocation and risk analysis
  • Customized financial plan options, including retirement planning
  • Comparison of private/public education funding options
  • Estate/Legacy planning strategies
  • Other projects per your specifications

We are happy to discuss your needs with you.

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