As you approach retirement, you may be wondering if you’re fully prepared for the next phase of life. This stage is all about fine-tuning your financial strategy, maximizing your savings, and ensuring you’re on track to meet your goals. Together, we’ll develop a plan that supports your transition from a paycheck to sustainable income, so you can enter retirement with confidence.

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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

Confirm prior year retirement plan contributions are made before tax filing deadline if needed.

Make updates to ongoing retirement plan contributions in accordance with the new year's contribution limits.

Quarter 2
April - June

Portfolio Review/Rebalance

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

Quarter 3
July - September

Portfolio Review/Rebalance

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

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

Confirm year-end tax planning strategies are completed before Dec. 31st. (e.g. Roth Conversion, contributions to employer plans, gifting, etc.)

Ensure year-end charitable giving strategies are completed and ensure to maximize tax benefit of gifts.

Ongoing Checklist Example

  • Retirement Plan

    Have we established goals and an ideal timeline?

    Is current retirement savings sufficient to support the retirement goals?

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

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

     

    Done?

    Notes

    Yes

    Clients wish to retire at 63 (husband) and 60 (wife) in the same calendar year.

    See Notes

    Clients are maxing out 401(k) plans, going to check at year end to see if they have cash to max out Roth IRAs (back-door)

    Yes

    We have discussed strategies, and they would like to file at 70 (husband) and 67 (wife) based on our recommendation.

    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

    Have we established a plan for the client's "next dollar?"

    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?

    What is overall savings rate (%)? What is the goal?

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

     

    Done?

    Notes

    Yes

     The current plan for their "next dollar" is to pad their savings account for a home renovation project next year.

    No - see notes

     Client does not currently have any non-mortgage debt & has cash set aside for next car purchase.

    In Progress

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

    In Progress

     Total savings rate is currently 15% without Roth IRA savings, goal is to push this above 20% in the years to come.

    Yes

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

     

  • 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?

    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.

    Yes

     Clients are over the income limit for IRA & Roth IRA contributions, but should qualify for back-door Roth contributions.

    Yes

     Not yet. Client is currently in a high tax bracket, but in the years to come we will keep an eye on this.

     

  • 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

     Life insurance is cost effective and appropriate given the client's current stage of life.

    Yes

     Husband has a strong long-term disability policy, but needs to look into short-term. Wife has both.

    Yes

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

    No

     We have discussed looking at long term care quotes in the next few years.

    No - see notes

     We have reminders set to reach out before their 65th birthday(s). This is many years away for now.