BENEFITS OF FINANCIAL PLANNING | Helping You Meet Your Financial Goals
- Financial planning enables you to define your financial goals and measure your progress towards those goals.
- Through “what if” scenarios, financial planning also explores the risks to achieving your goals.
- Additionally, it provides a living document, which will be updated regularly and shared with your accountant and attorney with your permission.
Types of Financial Planning | Helping Answer Life’s Biggest Questions
Asset Allocation Planning
Do my non-Central Trust Company investments fit into my overall goals and objectives?
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In this analysis, we will determine your proper risk tolerance by assessing objective measures. We will determine how much risk you can tolerate in light of your specific goals, and determine whether you are taking appropriate risks with your present investments. We then analyze how an ideal investment portfolio might look for you, taking into account the above factors, and will make specific recommendations. Finally, we stress test our findings using a sophisticated probability analysis, based on thousands of iterations.
Retirement Planning
Do I have the assets needed to satisfy my retirement income goals?
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In this analysis, we determine whether you have enough money to retire, based upon your specific goals. This includes analyzing which assets you should liquidate and when you should withdraw them. We also look at the potential tax impact of doing so to your overall plan.
Education
Planning
How do I pay for part or all of my children's educational expenses in a tax-efficient manner?
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Whether you are planning on paying all or part of education expenses for your family members, it is important to understand your funding options. It is also important to understand the escalating costs of tuition, room, board and books when creating your plan. This analysis will explain and analyze funding options and their potential tax consequences.
Insurance
Planning
What would happen to my family if I died unexpectedly or became incapacitated?
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Unexpected death or incapacity can cause financial chaos to your family. This analysis will first review any existing life insurance you or your spouse might own and then determines its adequacy. A needs-based analysis is then performed to determine how much life insurance is needed, based upon your family’s unique needs.
Estate
Planning
How can I leave a lasting legacy for my family or community?
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You’ve worked hard to acquire your wealth and you worry about how to leave it behind. Given the ever-changing tax laws, how do you develop a lasting plan? In this analysis, we present a number of options to pass on your wealth without paying undue administrative expenses and taxes, including gifting and philanthropy.
AS LIFE CHANGES, SO WILL YOUR UNIQUE NEEDS. FINANCIAL PLANNING SHOULD BE AN ONGOING PART OF YOUR RELATIONSHIP WITH YOUR FINANCIAL ADVISOR.
RECENT FINANCIAL PLANNING INSIGHTS | Helping You Understand the Journey
