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Retirement Plan.
In-depth analysis and planning concerning retirement issues. Takes into
account assets available for retirement, retirement lifestyle requirements,
income during retirement, income taxes, expected return on retirement
investments, social security, expected inflation and life expectancy.
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Investment Portfolio. We determine the client’s risk tolerance, tax bracket,
investment horizon and preferred types of investments. Then, we recommend a
mix of specific assets to meet the client’s requirements.
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Funding College Education for Children.
We determine the time horizon, investment preferences, tax bracket and
preferred types of investments. Then, we recommend various investment
strategies and investment vehicles.
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Cash Flow. We develop a
statement of cash flow, which summarizes the client’s income and expenses, and
a statement of net worth, which shows the client’s assets and liabilities.
This is then used to plan for cash flow needs for the future, which in turn
allows the client to plan for future investments or future borrowing.
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Debt Management.
In today's consumer culture
it is easy to get in over one's head
with consumer debt. At Stukey Financial Planning, we start with a statement of
cash flow (income and expenses) and a statement of net worth (assets and
liabilities) and then help
the client develop a plan to manage and reduce his/her debt.
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Funding a
New Business. We help the client plan for funding a new business. As part
of the plan we assist in making up a budget and projected cash flow statement.
Based upon the client's situation, we then recommend various investment
strategies and vehicles.
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Rollover of Retirement Funds.
Oftentimes, when an employee terminates from a job, there are retirement funds
to be considered. We provide advice on investment vehicles and rollover
strategies. It is important to get good advice on how to handle the funds
because there can be tax consequences and/or penalties.
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Life Insurance. Most people do not have
enough life insurance. We do an in-depth analysis of the client's needs.
If additional insurance or changes in
current insurance are needed, we make
specific recommendations of insurance carrier and types and amounts of
insurance.
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Long-Term
Care Insurance. We do an in-depth analysis of
the client's needs. If additional insurance or changes in current insurance
are needed, we make specific
recommendations of insurance carrier and types and amounts of insurance.
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Auto, Home and Umbrella Liability
Insurance. We review these policies and insure that they adequately cover
the client’s needs and requirements.
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End-of-Life Issues. We
review a client’s end-of-life documents such as the will, living will,
estate plan, etc. Funeral expenses can be estimated and included in the financial plan.
We then make recommendations based upon our findings. We
are not attorneys, do not give legal advice and cannot draft legal documents.
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Disability Insurance. Research shows
that more people are likely to need disability insurance than life insurance
during their working careers. Oftentimes, employers offer disability insurance
to their employees. For those clients whose employer does not offer (or
provides inadequate) disability insurance or for the self-employed, we provide
help determining the level and type of insurance required.
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Annuities.
An annuity can be a valuable tool, when used properly. We look at the
client's situation and make recommendations based upon stage of life, risk
tolerance, net worth, investment horizon, etc.
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Spouse
Quits Work. There are many reasons that one spouse may decide to quit
working (e.g. new baby, caring for an aging parent). We review the client's cash flow, budget, retirement
funding, life insurance, etc. and recommend adjustments that are needed to
implement the new plan.
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Credit History/Report Review. Credit reports
are very important. They are used for many decisions made by lenders,
insurance companies and other businesses. We assist the client in reviewing
his/her credit report to insure that is is accurate and make recommendations
on how to improve the credit score.
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Financial
Issues Relating to Divorce.
We help the client plan for life as a single person.
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Funding
Child's Wedding. We review the client's financial picture, expectations
for wedding plans, time horizon, risk tolerance and devise a strategy for
funding the wedding.
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Home
Mortgage. Advice on home mortgages and refinancing. We shop the market for
the best rates and service.
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Stock Options. We assist the
client in determining the best approach to handle stock options offered by
his/her company.
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Distribution of Retirement Funds. When
an employee retires and/or terminates from a job, it is important to get good
advice on how to handle distributions from a retirement plan because there can
be tax consequences and/or penalties. We provided advice on investment
vehicles and distribution strategies.
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Budgeting. Some clients find it helpful
to have a budget. We provide help developing a budget that is consistent with
the client’s goals, income and expenses.
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Minimizing Income Tax. Many financial
decisions affect income taxes. In all the various planning we do, our goal is
to help the client make decisions that minimize income tax.
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Health Insurance.
Some employers offer more than one health
insurance option, and sometimes married clients have employers that both
offer insurance. Based upon the
financial situation of the client, we review the insurance options available
and make recommendations as to which option is best.
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Estate Planning. We assist the client
in planning for the next generation.
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Charitable Options. We assist the
client in planning for charitable gifts.
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Flex Account. We assist the client in
evaluating whether to pay into and how much to pay into a Flex account at
his/her job.
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Hedging Against Inflation. We work with
the client to develop investments that will keep pace with inflation.
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Maximizing Employee Benefits. We
evaluate the benefits offered by the client’s employer and help determine the
best strategy.
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Personal Financial Planning. Generic
phrase which can include any or all of the above topics.