FINANCIAL PLANNING PROCESS

PLANNING PROCESS COMPONENTS

• Review of your Objectives and Risk/Reward Attitudes: Short term, medium range and long term goals as well as perceptions of risks and expected rewards
• Asset Structure: Review of current holdings, present value, cost basis, growth and expected purchases
• Liabilities: Present and anticipated debt obligations
• Income Tax Analysis: Projections for ten years, with review of personal tax returns for last two years
• Cash Flow Management: Projections for ten years, determine effective use of anticipated surplus, managing deficits
• Investment Review: Analysis and recommendations
• Insurance Review: Analysis and recommendations
• Employee Benefits: Review and recommendations co-ordinate with personal assets and spousal plans
• Disability Income: Analysis and recommendations ten year projections of taxes, cash flow and net worth
• Estate Distribution: Costs and taxation analysis methods of reducing probate costs and estate duties
• Capital Needs and Survivor Income Analysis: Analysis and recommendations
• Retirement Income: Analysis and recommendations inflation, qualified plans and increasing net cash flow
• Financial Organizer File: For all documents, policy records
• Income Tax Organizer File: Used each year to accumulate and store vital records to support tax returns
• Master Implementation Checklist: To monitor your financial progress and be aware of advisor performance
• Periodic Review Sessions: Verify progress evaluation of investments, benefit plans and document completion