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Planning Your Life Stages

Your financial goals will change as you go through different stages in your life.  A well thought out financial plan will guide you through each stage. Our goal is to provide education and guidance through this process.

Starting Your Career

  • Cash flow and expenses analysis. What is coming in and what’s going out. 

  • Establish a savings account for short-term needs and emergencies.  

  • Understand all of your company benefits.

  • Debt management and pay down plan.

  • Plan out the next three years of financial needs.

  • Save in your company retirement plan or set up an IRA. 

  • Establish a non-retirement investment savings plan.

  • Life insurance to cover debt.  Disability insurance to cover income.

  • Execute a power of attorney and health proxy.

Startin Your Career

Mid-Career / Family Life:

  • Continue to save and increase contributions to company retirement plan.   

  • Emergency savings account – 3-6 months of expenses.

  • Develop a retirement projection to make sure on track with savings.

  • College/Education savings plan.

  • Additional savings to investments.

  • Life insurance to cover mortgage, capital to replace income to support family, and education/college costs.

  • Increase disability coverage as income increases.

  • Company benefits to take advantage of pre-tax savings account and supplemental benefits.  

  • Implement a comprehensive estate plan.


Getting Close to Retirement / Late Career

  • Review and update retirement projection to make sure you are on track.

  • Review current debts – develop a plan to pay down.

  • Review current risk of investment portfolio.

  • Plan for long-term care needs.

  • Health insurance plan – signing up for Medicare and exploring supplemental plans.

  • Strategy for social security payments.

  • Review current beneficiary designations for retirement accounts and life insurance plan.

  • Review estate plan – updates for changes in family.

Close to retirement

Last Steps to Retirement

  • Calculate your estimated retirement income sources – identify income gap.

  • List of your anticipated expense.

  • Review debt.

  • Have 1 -2 years of savings in a money market/bank (can be in your IRA/retirement account).

  • Sign up for Medicare and finalize supplemental plan.

  • Project tax

  • Finalize social security payment plan.

  • Distribution income plan – best way to take income from your savings.

  • Capital expenses: updates to home, car.

  • Estate plan updates.

Last Steps to Retirement
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