Financial Planning


“Failing to Plan is Planning to Fail” by Benjamin Franklin.

Financial plan helps individuals to better understand their situations, to have better vision of their future goals and to avoid making mistakes. A good financial plan takes into account individual's circumstances, needs, values and preferences. It should be clear, realistic and easy to implement. 

Financial Planning Process: 

  • Discuss, review and prioritize financial goals and objectives.
  • Assess current financial situations.
  • Assist with budgeting.
  • Identify essential living expenses vs. discretionary expenses.
  • Complete assets, liabilities and cash flow reports.
  • Perform current investments analysis.
  • Set target asset allocation (individual security selection is excluded), projected returns and inflation projection.
  • Complete a retirement planning assessment, including retirement income and expense projection, assets value at the beginning and at the end of the plan.
  • Perform probability analysis to identify likelihood of retirement success.
  • Perform “What If” analysis based on different retirement scenarios.
  • Develop and discuss retirement income withdrawal strategy such as social security income, pensions , annuities, Required Minimum Distributions (RMDs).
  • Identify basic estate planning and tax saving opportunities.
  • Present a final written plan that will be reviewed in detail with clients. It will contain recommendations designed to meet client's stated goals and objectives, supported by relevant financial summary illustrations.
  • General consultation regarding financial and savings instruments such as annuities, 401k vs. IRA rollover, IRA vs Roth, Roth conversion, small business retirement plans, long term care  insurance and life insurance policies.
  • Follow up consultation (within 30 days after the delivery of the final plan).
  • Referral to other professionals, as required, to assist with implementation of the action plan.