Scope of Planning
Cash Flow Diagnostics & Planning
Begin by comprehensively analyzing the past 3-6 months' financial records to track both personal and business cash flows, identifying their sources and destinations.
Formulate an actionable cash flow strategy by setting monthly, quarterly, and yearly objectives that can be executed effectively.
Continuously monitor the performance of your cash flow strategy and adapt it as necessary in response to significant life events.
Adjust monthly target goals as needed to optimize cash flow efficiency.
Regularly review monthly expenses to ensure that your financial plan remains aligned with its established boundaries.
Evaluate the strengths and weaknesses of your current banking and credit card usage patterns.
Enhance your banking structure by assigning specific purposes to your funds, enabling you to closely track their growth within the framework of your financial plan.
Life Stage Planning & Major Events Planning
Begin by accurately assessing the current life cycle stage you are in and proactively initiate preparations for the next life cycle stage, along with any major milestones that lie ahead.
Whether you're contemplating family planning, considering a sabbatical, exploring a job change, embarking on a home purchase, relocating, saving for your children's future, venturing into a new business, expanding or divesting from your your real estate portfolio, or any other significant financial endeavor, collaborate to formulate a comprehensive strategy. This strategy should include a timeline and the necessary steps to effectively manage these events from a financial perspective.
Act as a supportive and empathetic listener and coach as you navigate the decision-making process for major life events, offering guidance, perspective, and a sounding board for your thoughts and concerns.
Work together to optimize your financial planning and strategies to efficiently achieve your next milestones and celebrate your successes when you reach these significant goals.
Risk Identification & Mitigation
Conduct a comprehensive review of your existing risk mitigation strategies, encompassing Health Insurance Policies, Auto Policies, Life Policies, Disability Policies, Homeowners Policies, Renters Policies, Long-Term Care Policies, and Pet Insurance, with the aim of verifying that they adequately address your specific risks. This analysis will ensure that you are neither over-insured nor under-insured.
Assess and calculate the current need for these risk mitigation strategies, identifying any potential gaps in coverage.
Present a detailed analysis of the advantages and disadvantages of maintaining your current insurance plan versus addressing any identified coverage gaps. This will provide clarity on how your plan will be affected if these gaps are filled.
Develop a strategic plan to effectively address these identified gaps in your risk mitigation strategies, ensuring that your insurance coverage aligns with your specific needs and requirements.
On an annual basis, review your Employer Benefits Plan to ensure you are making the most of the benefits offered by your employer.
Annually evaluate your Auto Insurance and Homeowners insurance policies to guarantee that you are securing the most cost-effective rates available by actively shopping for competitive offers.
Tax Planning Strategies
Analyze your previous years' tax returns to discern patterns in your tax obligations and income.
Examine past tax returns to verify that appropriate strategies were employed to minimize your tax liabilities effectively.
Review your current income structure, assess the adequacy of your tax withholdings, and implement measures to address future tax obligations while exploring avenues to reduce your tax burden.
Ensure that your investment portfolio includes appropriate account types that optimize your future tax efficiency, including Tax Advantaged, Pre-Tax, and Tax-Free Savings options.
Proactively create an annual tax planning projection to gain insight into your projected annual tax liability. This foresight will enable informed decisions regarding investment strategies, such as Roth conversions, liquidations, and tax loss harvesting.
For business owners, ensure that you are maximizing the utilization of business expenses, optimizing deductions, and applying appropriate tax mitigation strategies to minimize your tax liability effectively.
Investment Savings & Investment Management
Conduct a thorough review of your existing investment accounts and strategies to ensure they are in alignment with your short-term, mid-term, and long-term financial objectives.
Verify that your investment accounts do not have a high expense ratio and that you are not incurring unnecessary fees or commissions.
Create a systematic and well-structured approach to your investment strategies, tailored to meet your short-term, mid-term, and long-term financial goals, while carefully managing risk.
Assist you in rebalancing your Retirement Account Portfolios to maintain optimal asset allocation and risk management.
Periodically assess your Employer Benefits Plan to ensure you are making the most of the benefits offered by your employer.
Offer support in establishing new investment accounts and provide investment management services, with fees calculated as a percentage of the assets under management.
Raise awareness of the potential tax advantages associated with different investment accounts to optimize your overall financial strategy.
Stock Options Planning Strategies
Thoroughly analyze your existing stock options plan and provide you with an educational overview of how these stock options can impact your current and future tax structure. Additionally, we will identify any potential risks associated with holding a concentrated position in these options.
Work together to develop a strategic exercise plan for your various stock options, such as RSUs (Restricted Stock Units), ISOs (Incentive Stock Options), NSOs (Non-Qualified Stock Options), ESOPs (Employee Stock Ownership Plans), etc. The goal is to minimize your tax liabilities, maximize efficiency, and appropriately diversify your investment risks.
Incorporate these stock options strategies into your overall tax plan to ensure that there are no unexpected surprises when it comes to your tax obligations. By doing so, we will be well-prepared to handle any taxes triggered by the exercise or sale of these options.
Estate Planning Strategies
Examine your existing Estate Planning strategies to identify any potential loopholes or threats that may affect the efficacy of your plan.
Provide comprehensive education and information on various estate planning documents, explaining their significance in different scenarios and why they are essential for your specific needs.
Assist you in identifying the most suitable methods for acquiring these estate planning documents, ensuring they are correctly completed to align with your wishes and requirements.
Conduct a thorough review of your estate planning documents to ensure they accurately reflect your wishes and needs, making any necessary adjustments or revisions to address any discrepancies or changes in your circumstances.
