In order to provide the highest level of service and a comprehensive projection of your financial future, we need to completely understand your current status.
Gather financial information
- Cash savings (and approximate year-over-year changes, if any)
- Estimation of current spending habits
- Bank, brokerage, 401k/retirement plan, insurance policy statements
- Real estate holdings
- Social security benefit estimates
- Income: investment, pension, trust, rent, social security, etc.
- Inheritance considerations
- Debt payments, current balances and interest rates
- Trust benefits
For maximum time efficiency, this information can be provided before the first client meeting
Assess risk tolerance
- Risk tolerance questionnaire
- Discussion of investment experiences through varying market conditions
Establish goals and time horizons
- What do you want to accomplish with your money?
- Time until realization of each goal or financial commitment
- Prioritization of retirement goals
- Desired retirement age
- Desired future income
- Legacy—what to you want to leave behind, and to whom (people, charity, trusts)
Determine whether goals are within range of feasibility
- If so, move on to the next step
- If not, goals and risk need to be reconsidered