More Than Just Investments

A comprehensive financial plan needs to incorporate more than just investments. This summary provides a quick overview of the key questions you should ask when considering how the 5 Components of Financial Planning can help you achieve your Life Goals, Hopes and Dreams.

It is essential that you align your financial resources with those things that matter most to you to Bring Your Money to Life™. Each area requires specific attention. While one strategy may have worked well to get you TO retirement, it will not necessarily be the best strategy to help you IN retirement? An advisor equipped with a track record of experience in all these areas will assist integrating your financial plan to address all areas. Come and see the benefits offered by a fiduciary who has been navigating these complex issues for over 30 years.

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Create Wealth

We can generally agree, the more money, the better. More wealth opens more opportunities. The question is how do we get to MORE with the right amount of risk that will give us the right returns. Financial planning needs to be much more than a pie chart reflecting we have diverse allocations. While allocating investments diversely can be valuable, it does not align assets with short, medium and long-term planning. We need to balance longevity planning with liquidity to provide for our needs. Listen to learn more about making your plan work for you.

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Generate Income

It’s important to prepare for the time when there is no longer a paycheck from an employer or a business (aka “Retirement”). Regardless as to whether the income sources are payments from the government, from previous employers, or from personally structured financial products (which may or may not be guaranteed), they may need to be supplemented with invested assets referred to as a portfolio.

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There are many ways to structure an income solution. It may include guaranteed income products such as annuities, income-producing assets such as CDs, bonds or stocks, and cash from liquidated assets which may have appreciated in value.

The most important thing to remember is that the income plan must be specific, and not merely hypothetical. And, it must account for the various contingencies in life, including folks living longer than the average life expectancy, and possibly not in good health.

As you look through our resources for guidance on your financial journey, feel free to reach out for a complimentary personal consultation. With over 30 years of experience navigating the complexities of Financial Planning, we welcome the opportunity to review your retirement plan and help you plan for your golden years.

Minimize Taxes

While taxes are a fact of life, the amount you pay is NOT. How do you know if you’re paying more than you should? It is always advisable to reduce your tax obligation using all the tax strategies available to you.

Be sure to contact Dedicated Financial Services to discuss how financial strategies can be utilized to give you a better tax outcome. Keep in mind your tax planning objective should not simply be to report tax liabilities every year but to determine what actions you should be taking in the current year to reduce the tax liabilities you will be required to report and pay the following year.

Below are some of the most common strategies available to individuals who are retired or soon to be retired.

Be Prepared

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Neutralize Risk

We all want a wonderful, worry-free retirement with enough money to achieve our Life Goals, Hopes and Dreams for this new season. Retirement should be a golden time. But failing to plan really does mean planning to fail when it comes to retirement.

There are many potential concerns about financial stability during retirement, including:

  • Maintaining the same standard of living throughout your life without running out of money,
  • Getting sufficient returns from your investments without getting wiped out if the stock market crashes, and
  • Minimizing taxes on income and investments.

Should You Worry?

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Transfer Wealth

End of Life planning is essential for your intentions to be realized when your capabilities fade and after you pass away. Dedicated Financial Services does not provide legal services or advice but we understand the need for planning and how to help you identify what your intentions are for yourself and for you loved ones. We are happy to help you with these End of Life and Legacy Planning issues as part of the fully integrated financial planning services we provide our clients for their entire lives.

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Ready to Start Planning?

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