The Retirement Planning Process
Retirement income planning is more than just money management. It’s like designing a custom house. You have to develop the plan in light of the client’s resources, desires, and unique situation. To design an excellent plan typically takes 3 to 4 meetings.
In the first meeting we get to know each other, discuss the vision you have of your life, and, if we are in agreement, take a financial inventory. At this point, we get our financial planning team started on an analysis of your current holdings.
In the second meeting, we review the work our financial planning team has done to discover the strengths and weaknesses of your current asset allocation. We include potential reactions to up markets and down markets as well as any fees you are being assessed. We discuss potential improvements to bring your investments in alignment with your lifestyle needs and risk tolerance.
In the third meeting, we present and discuss options for meeting your goals, including income, tax management, and portfolio selection. Once we have an agreement on the direction, we will begin to implement the plan which entails opening accounts, completing paperwork, transferring funds, etc.
Once the plan is in place, we monitor all the investments, talk with you on a quarterly basis to see what, if any, changes have occurred that require us to tweak the plan and meet at least annually to review your progress and discuss any changes that need to be made.