A written comprehensive financial plan is your strategy for the achieviement of your financial objectives and goals. It wil address all areas of your personal financial situation along with relevant data that relates to the development of your plan, which includes:
- Pertinent personal and family information for everyone that is included in the financial plan.
- Goals and objectives.
- Identifying problems and issues in reaching those objectives and goals.
- Creating a twenty-five year cash flow projection, while developing assumptions that will be used in the plan including investment growth, inflation, and mortality statistics.
- Generating an estate assets and liabilities worksheet and your personal financial statement.
- a cash flow analysis which will show the sources and uses of funds through the years, and which will indicate “net cash flow”
- Income tax planning which will minimize taxes over the full length of the financial plan.
At Squam Lakes Financial Advisors, we will typically complete a thorough financial plan for new clients in 3 to 5 meetings. This plan will ensure that all crucial financial areas have been addressed. At the end of the process, our clients receive a full and complete comprehensive financial plan. that plan is then reviewed in exacting detail, which includes implementation steps.
During this review process, we will make recommendations on each of these critical areas:
Long Term Spending
- the twenty-five year cash flow projection, which will include tax estimates and income projections.
- Exploring tax-efficient long-term strategies for financing your children’s and grandchildren’s college education.
- Helping to prepare an investment policy statement.
- Id’ing a planning horizon for investments.
- Selecting an asset allocation which matches risk, time horizon, and other criteria.
- Offering a recommendation for the selection of a portfolio manager to implement investments (or, overseeing communications with the client’s current investment manager, if so desired).
- A thorough Review of qualified plan contributions, employment-related benefits, and other tax-deferral arrangements. Also recommend ways to maximize these benefits.
- Estimate your Social Security benefits, as well as recommend a Social Security start date and and give advce on implementing additional strategies.
- Discuss Certificate of Need healthcare and long-term care in your retirement.
- Deferral strategies and tax minimization, which include tax-free bonds, your contributions to IRAs, college savings programs and qualified retirement plans.
- Planning for Alternative Minimum Tax.
- Analyze your current insurance policies with a insurance professional.
- Recommending the types and amounts of coverage for property and casualty, major medical, health, disability, excess liability,life insurance, and long-term care coverage.
- Supply referrals to insurance professionals, as they are needed.
- A in-depth review of current wills, powers of attorney, trusts, and other related documents. Recommendations on new or updated documents.
- An analysis of proper titling of assets, and beneficiary designations.
- Talk about gifting strategies as desired
The client is reponsible for Implementing whatever recommendations come from us, unless the client decides to go with the Comprehensive Financial Planning with Retainer package we offer.
SQUAM LAKES FINANCIAL ADVISORS encourages all potential clients to take advantage of the informative no-obligation consultation available. Bob Maloney can meet you at your home in Berlin, NH, or you are cordially invited to meet us at our home and office on beautiful Squam Lake.F
At Squam Lakes Financial Advisors, We Are On Our Client’s Side.
Squam Lakes Financial Advisors, LLC
Comprehensive Financial Planning
Serving NH, Vermont, Maine, and Massachusetts
31 Coxboro Road
Holderness, NH 03245