Comprehensive Financial Planning consists of an upfront charge of $750 and an ongoing fee that is paid monthly, in advance, at the rate of $150 to $250 per month, depending upon the complexity of your plan.
Before we get started, we offer a 90-minute complementary meeting.
Throughout the first year, we will cover all aspects of planning:
Establishing healthy cash flows
Debt retirement
Insurance planning
Retirement planning
Taxation review and planning
Estate planning - will help you prepare for an eventual meeting with an estate planning attorney or provide you with resources to create a will and other important estate document and if needed,Education savings planning
Student loan analysis
Buy/Sell decision analysis
We work with you throughout the year to make sure all aspects of your plan are implemented. We also reassess your plan annually, or more frequently if needed, to make sure you are on the right track.
Starting Out If you are just starting your career, we will help you monitor your cash flows to cover your needs and save for goals, establish and maintain good credit, set short and long-term career goals, and have important estate documents.
Settling Down Plan for education, consider life insurance, start planning and save for retirement, consider buying a home, and save for vacations.
Entering Midlife If you are in mid-career, perhaps you have started to think about saving for retirement. We will work with you to develop beneficial tax strategies, plan for college costs, and prepare for any unforeseen circumstances.
Near Retirement If you are considering retirement, we do a thorough retirement income analysis to make sure you are adequately prepared for a change in your work life status! If not, we will guide you to fortify your retirement! We also help you develop your estate plan. We evaluate your insurance policies and your health care needs.
Enjoying Retirement In retirement, we look every two years at your retirement plan; just to make sure you are on track with your current spending. We may also help you evaluate any philanthropic opportunities and monitor your estate plan, just to make sure it is up to date. We will also review your insurance needs to make sure you minimize any risk of liability.
We offer three classes for groups of friends, family or colleagues:
Financial Planning Basics (75 minutes including time for questions) includes the basics of financial literacy and best practices. Cost $20 per person.
Introduction to Retirement Savings (2 hours) covers the need for retirement savings and various ways to save for retirement. Cost $50 per person.
Understanding your Form 1040 (90 minutes) – the Form 1040 compiles all your tax information. This class helps you to understand every line of this two page document. Understanding the documentation of your tax data is important prior to signing the Form 1040. Cost $50 per person.
First, through our financial planning process, we will learn your priorities and goals and we will discuss your knowledge and attitude toward investing. Next, we use a comprehensive risk analysis tool to find a level of volatility (movement in the financial markets) that is comfortable for you. After assessing your appetite for risk and now knowing your goals, we create an investment plan for you. With your approval of the investment plan, we manage your assets at Charles Schwab & Co.
The fees for investment management are based on the value of your assets under management. We charge an annual flat fee of 50 bps (half of one percent). For example, if your quarterly average balance is $100,000, your investment management fee would be $500 per year. Fees are paid quarterly and are subtracted from your account. These fees are in addition to our fees for financial planning.
Comprehensive financial planning covers all aspects of your financial life: goal setting, cash flows, debt reduction, investments, tax planning, retirement planning, and insurance and estate review. We consult on your financial decision making. Includes quarterly meetings either inperson or online.
