Anything that could affect a family or individual financial situation today, or in the future, brings with it the need to reevaluate where you are today, where you would like to be and if you are track to get there.
By John Sastry, J.D., CFP® – Vice President & Financial Planning Officer
There are a number of common scenarios we see as we work with clients on their individual financial plan. Perhaps the most common question is, “Do I have enough money to retire?”
To arrive at a correct conclusion, you have to examine important things such as family health and life expectancy. You must also explore the possibility of both expected and unexpected medical expenses in retirement.
You should also look globally at your investible assets, ensuring that your overall allocation meets your objectives and risk tolerance. In addition, there should be a thorough examination of the sequence of assets you wish to liquidate and when they should be liquidated to meet your unique income needs. This order of asset liquidation can be a material component to your plan’s success.
In sum, we have found that there is not a “cookie-cutter” approach to financial planning. At Central Trust Company, each of our financial plans are fully customized to meet you and your family’s specifications.