FAQs

Saving is a key component of every financial plan. Usually, people wonder how much they should be saving for retirement. A good rule of thumb is 10-15% of your income should go towards retirement if you start at a young age. Everyone has different nuances that affect how much to save. Work with us to see if you are saving enough to retire how you want to.

Saving comes first, but investing is what gives your money the chance to compound. How you should invest depends on your goals, age, and risk tolerance. Some investments that make sense for you will not work for someone else’s financial plan. If you’re looking for an analysis on your investments, reach out today.

Taxes are something we are asked about often. While we are not tax professionals nor do we offer tax or accounting advice, we work with your accountant or CPA. Our goal is to work with your CPA to coordinate decisions instead of you feeling your investments are on a separate island from your taxes. Let us handle coordination between the different tax professionals in your life.

Estate planning is an important part of your financial plan. We are not licensed attorneys and do not draft legal documents. We coordinate your finances with your attorney or can help you find an attorney that is the right fit for you. Talking through your estate is part of setting up a financial plan for success. Let us be your contact person working with different professionals.

Protection of the money you worked to earn is imperative. Protection depends on what sort of risk you are looking to avoid. A plan to protect from a nursing home looks different than a plan to protect from market risk. We work with you to understand what risks are top of your mind and how protection can be built into your plan.

Gifting your children money looks different in every stage of life. When they are young, you may want to give money to them to prepare for college. Once you retire, it may be time to think about how you want to give part of your portfolio to them to enjoy with their family. Planning for how money passes to your heirs at death also has a meaningful impact on children and grandchildren.

Debt is often a large part of people’s financial picture. Paying it off can provide financial freedom and opportunity for your net worth to grow. The priority of debt payment depends on the other assets, liabilities, and your income.

Usually, a variety of accounts allow efficient saving and interest income. On the other hand, we also see people that have a variety of accounts spread out and it is causing them to invest inefficiently. Examining the types of accounts you have is often a first step to determine the best direction to go next.

There are many ways to earn interest on your cash that you want to have accessible. These rates vary in interest as well as risk with some rates carrying a lower level of risk.

Going from a paycheck you have earned through work and switching to a paycheck created from your portfolio involves some key decisions. Some of these decisions can be changed, while others are important, timely decisions. If you are wondering if you are on track to retire, we can visit with you and create a financial plan for your retirement income.