Greater Confidence Through Objective Advice
We’re often asked which areas of a client’s financial life we can help them with. Although the answers depend on each client’s unique situation, there are many common questions that arise in the planning process that often frame the advice we provide. Accordingly, we thought it would be helpful to share some of the aspects of a client’s financial life that we can advise them on.
The following is not intended to be comprehensive, as each individual situation is different. Likewise, not every client requires or wants advice on every aspect of their financial life. However, this list of financial planning questions should provide a good sense of the types of questions we can help you answer and the areas we can provide analysis and advice.
- My 401k plan has over 20 different investment options. How do I know which funds to choose?
- Am I getting the full match from my employer on my 401k contributions?
- Should I invest in a traditional IRA or a Roth IRA?
- My husband and I each have several retirement and investment accounts. How should they be invested?
- It seems like I am paying a lot of taxes on my investments. Is there a way to lower this expense?
- When can I retire?
- How much do I need to save in order to live the life that I want?
- When should I take Social Security?
- Should I choose the annuity option or take a lump-sum payout for my pension?
- How can I ensure that I won’t run out of money?
Saving for College
- How much do I need to save for my child(ren) to go to college?
- Should I save for college using a 529 plan or a Coverdell Education Savings Account?
- Which 529 Plan offers the best combination of investment options?
- Should I invest in my state’s 529 plan or should I open an account under another state’s plan?
- What is the best way for my parents to help their grandchildren pay for college?
Insurance and Risk Management
- Do I have the right types of insurance to protect my family?
- Am I paying for insurance that I don’t need?
- How much life insurance do I need ensure my family is taken care of if I pass away? Should I get a whole life or a term policy?
- Are my insurance premiums competitive?
- Should I consider a high-deductible medial insurance plan and a health savings account (HSA)?
- How can I withdraw money from my retirement accounts and pay the least amount of taxes possible?
- I would like to reduce my taxes by saving for retirement through my small business. What are the best options?
- I have stock in a company that I used to work for that I would like to sell. How can I do so while incurring the least amount of taxes?
- I purchased a variable annuity that I would like to get out of because of the high fees. What are the tax implications?
- I have employee stock options from my current employer. Should I exercise them and sell the stock to diversify?
Estate and Gifting
- What would happen to my money if I passed away unexpectedly?
- Who will watch over my children if my wife and I are gone?
- I would like to support my grandchildren with their college tuition. What is the best way for me to do that?
- Since I have my financial needs taken care of, should I start giving now or should I let my estate grow?
- How much can I afford to comfortably give away without risking my own retirement?