You've worked hard in your career, and are ready for relaxation and celebration. However, the transition from a career and steady paycheck to living on the wealth you've accumulated can be filled with uncertainty.

Together, we'll develop a plan that helps you accumulate wealth while you're still working, and aid your transition to a fixed retirement income.

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Below is an example of what services and interactions Business Owners (or retirees, or pre-retirees) can expect from us throughout the year.

Ongoing Reviews

Review investment strategy and allocations. Make changes as necessary.
Ensure comprehensive financial plan checklist is up to date.
Update and discuss comprehensive financial plan. Review, add, and/or adjust future goals.

Touch Points

We will touch base with you throughout the year. The frequency of this will be based on the complexity of your plan and how much assistance you need.

Monthly Newsletters & Social Media

Stay in the loop with what our office is up to, as well as helpful insights from our monthly (emailed) newsletter.
Connect with us on LinkedIn & Facebook for timely updates.

Client Events

Periodically, we have events that client who live locally will be invited to. (We invite out of town clients as well if the timing/event makes sense)
Every year, we have a Christmas party locally and all clients are invited to join us.

Quarter 1
January - March

Portfolio Review/Rebalance

Review and analyze withdrawal rate.

Calculate RMD (required minimum distribution) for the year ahead and ensure there is a strategy in place to satisfy the requirement.

Quarter 2
April - June

Portfolio Review/Rebalance

Review and analyze withdrawal rate.

Review prior year tax returns and discuss any changes that may impact tax strategies.

Quarter 3
July - September

Portfolio Review/Rebalance

Review and analyze withdrawal rate.

Compliance check - behind the scenes ensure that all documentation is up to date and compliant with regulations.

Beneficiary check - behind the scenes ensure that all beneficiaries on accounts are accurate and do not need any updates following major life changes.

Quarter 4
October - December

Portfolio Review/Rebalance

Review and analyze withdrawal rate.

Strategize for the year ahead - what are our 1 year goals and priorities? Do we need to make any adjustments to savings or expenses?

Ensure year-end charitable giving strategies and tax strategies are completed and ensure to minimize client's lifetime tax bill.

Ongoing Checklist Example

  • Retirement

    Have we established overall retirement goals and timeline? 

    Have we discussed the client's Social Security plan? Any action needed? 

    Does the client have any other income sources in retirement (pension, rental income, etc.)?

     

    Done?

    Notes

    Yes

    Clients retired 8 years ago. 

    Yes

    Husband filed at full retirement age (67) and wife is delaying to age 70.

    Yes

    Clients own a rental property and expect roughly $3,000/month of net income to supplement retirement expenses. 

     

  • Investment/Portfolio Review

    Does the portfolio/investment mix match the client's risk tolerance? 

    Does the portfolio/investment mix line up with the client’s goals (short term vs. long term).

    Is the client comfortable with on-going account rebalances?  

    Do investment accounts have beneficiary/transfer on death instructions set up? 

     

    Done?

    Notes

    Yes

    We have discussed their risk tolerance in detail and they are comfortable with the current mix.

    Yes

    The current mix currently has adequate funding for short term goals and Leave the longterm goals invested for appropriately.  

    Yes

    The clients prefer that their accounts are consistently rebalanced. 

    Yes

    All of the clients accounts have been reviewed with their estate planning attorney and match their wishes. 

     

  • Cash Flow Plan

    Analyze debt to income ratios. Does client have a plan to pay off non-mortgage debt?

    What is the current emergency fund balance? What is the goal? 

    Is charitable giving important to the client? If so, are they taking advantage of the tax benefits.

    Can the client make qualified charitable distributions (QCDs)?

     

    Done?

    Notes

    No

    Clients are debt free.

    Yes

     6 months of expenses would be roughly $50,000, current savings is above this but not excessively.

    Yes

    Giving is important to the client, they itemize deductions so their monthly giving (10%) is included in this.                 

    Yes

    Husband is planning to use part of his RMD amount as a QCD to his church.

     

  • Tax Analysis/Review

    Do we have the prior year tax return on file? 

    Review prior year tax return. 

    Analyze how changes to upcoming cash flow/goal strategies might affect next year's tax return. 

    Is the client eligible for Traditional IRA contributions, Roth IRA contributions, or Back-Door Roth IRA contributions? 

    Does the client have RMDs (required minimum distributions) for this year?

    Analyze Roth Conversion strategy.

     

    Done?

    Notes

    Yes

    Clients have sent us their most recent tax return and we have saved this in their client file.

    Yes

    Return was reviewed when it was sent in the 2nd Quarter, and notes were emailed.

    No need

    Cash flow should remain somewhat steady for the next few years. 

    No

    Clients are retired and cannot make contributions anymore.

    Yes

    Husband currently has RMDs and will be satified by year end. RMDs will begin at 73 for wife.

    Yes

    Currently working on a 12 year Roth Conversion plan in order to keep them below the 22% tax bracket.

     

  • Estate Plan

    Does client have will/estate documents completed?

    When was the last time they were completed? Who is their trusted attorney?

    Do we have copies in their client file?

     

    Done?

    Notes

    Yes

     They have completed them, and seem very happy with them.

    Yes

     Clients used a local attorney 3 years ago to complete their will and trust documents.

    Yes

     We do have copies of the documents completed 3 years ago.

     

  • Insurance

    Confirm updated information on existing policies (employer provided, and privately owned)

    Analyze if life insurance policies are appropriate and cost effective.

    Analyze if disability policies are appropriate and cost effective.

    Does the client have/need umbrella insurance?

    Does the client have/need long-term care insurance?

    Is the client approaching Medicare eligibility? Do they need assistance?

     

    Done?

    Notes

    Yes

     Information is up to date and accurate in the planning software.

    Yes

    Clients are retired and debt free. They do not want life insurance at this time.

    Yes

    Clients are retired and no longer have earned income. They do not want disability insurance.

    Yes

    Clients have a strong umbrella policy through their homeowner's insurance.

    Yes

    We have reviewed Long Term Care insurance illustrations with clients. They will let us know if they want to purchase.

    Yes

    Clients are both enrolled in Medicare parts A, B, & D and have supplement policy.