Services for Individuals

We have developed The Journey Guide™ so that you can experience the level of service before committing to an ongoing engagement. This is important because financial planning expertly executed, is a dynamic process. We are confident that in setting your expectations and putting you in control of the relationship, you will make better decisions.

In order for you to get the most out of your time in this meeting, please ask yourself these questions: Why are you researching financial planners and/or investment managers? Why now? What do you hope to discover? We want to determine if we are the best firm to serve you and your specific situation.

We offer a complimentary discovery meeting to help you clarify how we may best serve you. People tell us that their no-obligation discovery meeting is incredibly helpful to them. It is not unusual for people to say that we raised questions that they didn't even think to ask, profoundly altering their course of action in a positive direction. Let us do the same for you.

Services

Comprehensive Financial Planning—Integrating retirement, education, investments, insurance, taxes, and estate planning are the essential elements of a comprehensive plan. Spending, saving and use of credit are the foundation. Like so many things that are important in life, the magic occurs at the seams, or the transitions. The plan provides the map.

Not everyone needs help with every element of a comprehensive financial plan. We are happy to work with you on one or more of these aspects of your finances.

Retirement Planning (For those still working and saving for five or more years)—Analyze the current situation including: spending, saving, debt, future windfalls, shape goals and scenarios, identify gaps and opportunities, research and develop options, make recommendations, implement or guide implementation, monitor, review and update as needed. Common decisions that people want help with include: 401(k) rollover, Roth versus IRA, Roth Conversions & Re-characterizations, IRA consolidations, Portfolio Allocation, Beneficiary Designation questions.

Retirement Income Planning (For those looking to retire within the next 5 years or already retired)—This is hard work. All the work that is done in retirement planning (above) needs to be done here, plus other difficult decisions need to be made. The complexity of investing is increased once in retirement because people need to make sure that they don't run out of money or experience “longevity risk.” There are six broad areas that add complexity:

One, decisions about where to live, buy or rent come to light.
Two, health issues may impact insurance eligibility and costs which may cause healthcare funding challenges. The decision to purchase long term care must be a considered one.
Three, many retired adults are paying off mortgage and education debt while experiencing a reduction in income.
Four, it is not uncommon for the baby boomer generation to be supporting children, grandchildren and increasingly parents and siblings while in their own retirement.
Five, investment decisions are more difficult to sort out: portfolio allocation, withdrawal rates, use of fixed annuities or variable annuities, time dated funds, CD and bond ladders may all need to be considered depending on the client's situation and current market conditions. Fixed income investing is not simple.
Six, income withdrawal decisions are complex. Required minimum withdrawals, social security, tax implications, and calculating the annual spending ability based on the amount of assets available...presents quite a puzzle.

Most advisors don't have a lot of experience with this phase of financial planning. We believe in time segmenting your investible assets over the current, near term and long term to make sure that even if the market takes a dive, you will continue to receive the amount you need to cover your expenses and the rest will be able to stay in the market long enough to recover. Time segmenting investing, in combination with liability-driven investing i.e., matching your cash flow needs with separate portfolios or investments are progressive approaches. Most in the industry are selling retirement products such as time dated funds and annuities. Those products may have a role, but do not confuse products with planning, especially in retirement.

College and Education Planning—Is a 529 right for everyone? Is a pre-paid plan an option? “It depends” is the only right answer. What about when you or your spouse wants to determine if going back to school for another degree is worth it or affordable? What about private school for your prodigy progeny? The tradeoff of paying for your children's education versus your own retirement (or continuing education) is often never resolved by advisors who are really only comfortable with investing which they confuse with planning. The best funding sources require a good understanding of each family's values, tax issues and circumstances. That is why we analyze the current situation, shape goals and scenarios, identify gaps and opportunities, develop options, make recommendations implement or guide implementation, monitor, and review and update as needed.

Retirement and Education Planning—As mentioned above in the education planning section, generally it is best to combine these two goals into one financial plan with separate investment plans to get to the best results.

Investments—We consult with clients to understand and develop their investment philosophy. Then we analyze the current situation, clarify risk tolerance and timeframes, identify gaps and opportunities, research and develop portfolio recommendations, implement or guide implementation, monitor, and review and update as needed. Our aim is to reduce risk, expenses, and improve performance and attainment of goals. We educate our clients so all of the investment choices can be put into context for better decision making and investing. Clients will gain enough knowledge to be confident in choosing an investment philosophy whether that turns out to be active, passive, or rational and efficient. How stocks, bonds, alternative investments, mutual funds, etfs, index funds, Reits, 529 plans, 401 (k), Ira, Roth Ira, HSAs fit into the picture will actually make sense after working with us. Clients will feel comfortable and confident about their investments.

Insurance—Analyze the current situation, identify gaps, risk and opportunities, research and develop options, make recommendations, implement or guide implementation, monitor, review and update as needed. Health, disability, long term care, and property and casualty are all evaluated and optimized. Partnering with the client's Insurance professionals or identifying one to ensure optimal implementation is a part of what we do for clients.

Taxes—Integrate smart tax strategies into all aspects of planning and investing. Knowing what moves to make and implementing them effectively can improve cash flow, free up income for saving and accelerate the attainment of goals. Weaving tax savvy recommendations into the financial plan takes focus and knowledge. Taxes spans retirement, education, investments, insurance and Estate Planning decisions. Partnering with the client's accounting professionals or identifying a CPA to ensure optimal implementation is included.

Estate Planning—Analyze the current situation, shape goals and scenarios, identify gaps and opportunities, research and develop options, make recommendations, implement or guide implementation, monitor, review and update as needed. Wills, living wills, power of attorney, health proxies, gifting and trust strategies are all considered as necessary. Partnering with the client's attorney or identifying one to ensure optimal implementation is included.

Take control

See why Journey Financial Planners is uniquely qualified to work with business owners, professionals and entrepreneurs. Schedule a no-obligation discovery meeting today.