Updated: May 5
How We Help
Financial Planning for people born between the years 1946-1964. Our Financial Planning process of determining whether and how you can meet life goals through the proper management of financial resources. Let us show you how...
We can help you with:
Fortifying your budget
Setting short and long-term goals
Understanding your behavioral biases
investing for retirement the right way
Maximizing your employee benefits
Planning for education for your children or grandchildren
Protecting the people you care about
Retirement savings and income planning
Planning for extra vacations
Long-term tax strategies
Preparing for the "what ifs"
Developing your estate plan
Understanding your health care needs
Prepare for the costs of long-term care
Make the most out of retirement
Prepare your children for inheritance
Donate to the charities and causes you believe in
Our Financial Planning Process
Our Financial Planning process is modeled after the CFP Board's Financial Planning Practice Standards. Working with Generation X, we establish and define our relationship. This includes managing expectations for bother parties.
We gather all relevant and critical data during our onboarding process, which is culminated in our Getting Organized meeting.
Modern Wealth analyzes and evaluates our your goals, values, behaviors and resources.
We develop and present any and all financial planning recommendations, as a result of our evaluation.
Modern Wealth and our clients mutually agree on plan implementation and responsibilities. This varies from client to client.
We continue our relationship through regular meetings, monitoring of the plan through communication and the latest technology, evaluating changes and updating the client's plan as life happens.
So what goes into Financial Planning?
Financial Statement Preparation
A statement that estimates your financial resources and expenditures for a given period
Cash Flow Statement:
A statement that summarizes your cash inflows and outflows for a given period
Net Worth Statement:
A statement of your assets and liabilities
Strategies and Techniques:
Optimize your short- and mid-term cash flow, assets, and liabilities
Insurance Planning & Risk Management
Insurance Needs Analysis:
For disability, life, health, long-term care, property, and liability
Choose A Strategy:
Utilize some or all of the four primary risk management techniques available to you
Explain Factors That Affect Premiums:
Recommend appropriate methods for reducing your household insurance costs
Identify Strategies And Techniques:
Manage financial exposure due to personal risk
Employee Benefits Planning
Maximize Your Retirement Plan:
We help you understand and develop strategies to maximize your employer provided plan
Health Insurance Options:
Understand all the costs and benefits associated with the different types of plans
Employee Assistance Plans:
Weigh the benefits of what you have and potential utilization
FSA And HSA Plans:
We walk through the potential options and benefits
Employee Stock Option Plan:
We help you optimize and understand your options
We develop a plan that is best for you and your needs, which addresses the following questions:
What are your goals?
When do you need to reach those goals?
How much do you need to invest now or incrementally, as time goes by?
What is your investment style preference?
How Much risk are you comfortable taking?
How often do you want to adjust your plan?
Income Tax Planning
Family Net Worth:
We implement strategies and techniques to maximize present value of after-tax net worth
Minimize Tax Liability And Maximize After-Tax Returns:
We recommend actions for you and your dependents consistent with IRS Code with a tax conscious decisions
CPA And Tax Attorney:
We work closely with your CPA, or tax attorney, to identify and structure transactions that will minimize you and your tax burden across your life cycle
Private School and College:
We identify strategies and techniques to pay for Private School and College
Who create a plan of affordable options for College
Save And Invest For Education:
We develop strategies to best save and invest for education
Scholarships + Assistance And Loans:
We walk through various options for scholarships, assistance, and loans
Retirement Income Planning:
We develop strategies to coordinate income and make that retirement income last
We make sure your estate plan is able to implement your wishes
Health Care Needs:
We consider and prepare for health care needs and costs
We explore opportunities for potentially early retirement
We consider opportunities to donate to charities
We develop tax efficient strategies so you make the most out of retirement
Social Security And Medicare:
We help understand and choose your best strategies for Social Security and Medicare
Preservation and Distribution:
We implement strategies and techniques for preservation and distribution of accumulated assets
We properly designate beneficiaries on all of your accounts so that your money goes where it is supposed to
Coordinate With Attorney:
We coordinate with your current attorney or direct you to one you are comfortable with to implement critical documents such as:
Estate Planning Documents:
Last Will and Testament
Durable Power of Attorney
Health Care Proxy
If you are a Baby Boomer, born between the years 1946-1964, and you believe Modern Wealth could help you, please schedule an Intro Call!