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DIYers:  Start Your Financial Planning

We can help you get started!

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We Can Help

If you're like most people, you may have the desire to get started understanding your personal financial situation, but may fall short on knowing how to get started.  If this is you, we have a service that can help you get your financials in order.

We can walk you through the process to get everything organized in just about 30 minutes.  If you can gather your financial information, we can help you paint the picture of your current financial situation. With our assistance, you'll be able to:

* Understand Your Income, Assets and Liabilities
* Set and Track Goals
* Develop a Meaningful Budget
* Run Preliminary Retirement Projections
* See Your Overall Financial Health Metrics

What this is not

his consultation would not be a comprehensive financial plan.  It would not be a retirement plan.  But it would be a good start in getting a basic understanding of where you're at currently and provide some meaningful information that you could take to a Planner for additional consulting services.

Beyond DIY, What a financial professional may provide

Financial Planning and Retirement Planning is a skill that is developed over time and generally best performed by someone that is professionally educated in this space.  There are just too many variables, scenarios, and unknowns that make retirement planning beyond the scope of the average person and limited software tools publicly available.

Most Planners will provide you a set of software-generated graphs that depict your retirement projections and maybe a few page write-up with a set of observations and recommended action plans.  Seems simple enough. 
But the reality is there is several hours of a professional’s time that goes into creating those pretty graphics.  Financial ‘modeling’ in the latest software can be challenging for most novices and getting that part wrong will just propagate errors throughout the analysis.
Even if your case is simple, such as a single 401(k), IRA, a brokerage account, and a couple of cash accounts, there are certain tax designations that need to be assigned to each account.  IRS rules for handling differently taxed accounts makes it challenging to develop a tax-efficient withdrawal strategy.
Analyzing a De-Accumulation strategy (withdrawal strategy) when you start retirement and continue throughout your retirement time horizon is far more complex than your wealth accumulation years.  Getting this part wrong may cause you to deplete your retirement nest egg too soon.
Inflation, tax laws, market dynamics, and Social Security are in constant flux and parameters need to be adjusted as you progress in your retirement time horizon.

DIY Risks

  • Lack of publicly available software to do a comprehensive analysis
  • Financial ‘modeling’ is an art and a science
  • Tax implications of your withdrawal strategy
  • Portfolio building has an enormous amount of stocks, bonds, fund types and funds available
  • Risk Tolerance is best performed on you by someone other than yourself
  • Estate Planning can be complex and could put undue stress on your heirs if not done correctly
    These are just a sampling of some of the complexities and risks that need to be considered in Retirement Planning, especially in the de-accumulation years.

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If you are a DIYer and want a low-fee service to get started, and you believe you could benefit from working with a financial professional, let’s review your situation to see if you’re a good match for this offering.