Services

Financial Planning

Financial planning is an integrated part of our investment management services to our clients.

We provide financial planning to our existing clients on complimentary basis.

For prospective clients, we charge a small amount of fees ranging between $500 - $2,500 depending upon the complexity of their situations. However, once they become clients we will refund the total cost on financial planning through management fee deductions.

Checklist for Different Life Stages

20s

    • Define your financial needs in short and long-terms, and set up saving goals.
    • Start to save for retirement as early as you receive the first paycheck.
    • Understanding choices for your retirement accounts.
    • In general Roth IRA could be the best choice for this life stage as the tax brackets could be higher later in life.

30s - 40s

    • Budget for monthly expense as liabilities like mortgage and auto loan payments need to be managed prudently.
    • Make sure life and disability insurance policies are in place to protect your family against unfortunate events.
    • Start college saving funds such as 529 plan as early as the child is born.
    • Try to max out tax deferred retirement contributions before funding college savings.

50s

    • Additional $1,000 retirement catchup contributions are permitted in your IRAs and Roth IRA when you turn 50.
    • When you turn 59 1/2 and Roth IRA account has been open for more than 5 years, the withdrawal from Roth IRA becomes penalty free. However, you should hold Roth IRA as the last resort for withdrawal
    • Adjust saving and spending priorities as you may have paid off mortgage, and there is no further need to fund college education accounts.

60S

    • Fine-tune retirement budget and prepare for retirement.
    • Review income and expected expenses: breaking down expenses into discretionary and non-discretionary.
    • Develop withdrawal strategy
    • Review existing insurance policies and avoid overpaying for the wrong kind of coverage. For instance, you may not need life insurance when you are no longer working. You may also consider supplemental health insurance.
    • Be sure to enroll Medicare 3 months before your 65th birthday.
    • Postpone taking social security payments, possibly till the age of 70 to maximize the benefits.

70s

    • At the age 70 1/2, you are required to take Required Minimum Distribution from tax deferred retirement accounts like IRAs. However, there is no requirement for taking distributions from Roth IRA accounts.
    • Update your Estate Plan and make sure you have beneficiary designations on all the accounts.
    • Periodically review your financial needs and update your Will as needed.
    • Enjoy your retirement.

Financial Planning

A goal without a plan is just a wish!

Let's Get Acquainted

We offer a complimentary "Get Acquainted" meeting to describe our services, and to see if our services are right for you.

Contact

  • Phone:
    (609) 924-5300
  • E-Mail:
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