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Six Areas of Financial Planning

Income Allocation

  1. Evaluating your Current Net Worth
  2. Evaluating your Cash Flow
  3. Development of Strategies to
  4. Save/Spend
    • Checking
    • Savings
    • Investments
    • Emergency Fund
  5. Debt Reduction Strategies
  6. Financing (Home, Car, etc.)

Risk Management

  1. Evaluating Current Insurance Coverage
  2. Insurance:
    • Life Insurance
    • Long Term Care
    • Disability Insurance

Portfolio Analysis

  1. Portfolio Analysis
  2. Asset Allocation
  3. Goal Savings:
    • Purchase a Home
    • College Education Expenses
    • Vacation Home
    • Wedding

Tax Planning

  1. Tax Avoidance & Mitigation Strategies
  2. Tax Deferred
    • 401(k)
    • IRA
    • TSP
    • 403(b)
  3. Tax Free
    • Roth IRA
    • Insurance
    • Education Plans
    • Municipal Bonds Health Savings Accounts

Retirement Planning

  1. Planning for Retirement
  2. How Much do I Need to Save?
  3. Social Security & Pension
  4. Employee/ Employer Retirement Plans:
    • 401(k)
    • IRA
    • Roth IRA
    • TSP
    • 403(b)
    • 457
  5. Annuities: Fixed, Variable, Indexed

Estate Planning

  1. Distribution of Assets at Death
  2. Legacy Maximization
  3. Developing a Trust
    • ILIT
    • GRAT
    • CLT
  4. Buy/Sell Agreements