Maintenance Financial planninng
We have already worked together. We have completed an initial plan or maybe did some hourly work. What happens now?
We do not stop! Financial planning is a never ending process and we can only do just a little bit better tomorrow than we did today. After working with different types of people and levels of assets for over a decade, I strongly believe that success comes down to having a plan for the future and that plan will change so much between yesterday and today. The best you can do it always be on top of it.
This service is designed for someone who has already done an initial (comprehensive or focused) plan and is looking for yearly maintenance.
Instead of charging hourly (like I have done for many years), I now offer a plan that consists of an average of 6-8 hours of work per year. I find that it helps both, me (because I do the work proactively rather when it might be too late) and you (because you do not have to call me randomly as these topics surface), We can then stay on top of exciting topics like 403(b) investment changes and tax efficiency consistently.
WHAT WILL YOU GET?
(1) Two meetings per year. It is your choice when to schedule them, but I recommend one in October/December (for any end of the year tax changes) and one in March/April (before taxes are filed).
(2) Unlimited email support.
(3) A complete overview of any investment assets twice a year. If it is an investment account, it will get looked at. You will be responsible for any changes (logging into your accounts and making those changes), but I will provide the exact allocation (fund and %). We can also do it together over a call if it is easier.
(4) Cash flow analysis and setting up goals for the next 6 months. i.e. this is the goal and the progress we would like to work on between now and the next meeting.
(5) Tax return analysis and suggestions for changes for the next year. I can work with your CPA/EA as well. I will not be preparing taxes (I am not a CPA or EA), but I will look at the return and look for opportunities to save money as it relates to financial planning. For example, in the fall meeting, we will be looking at the feasibility of Roth conversions and in the spring meeting to potential IRA contributions.
HOW MUCH WILL THIS COST?
A flat fee of $1,500 paid either monthly or quarterly. The fee is quoted with an expectation of 5-8 hours of work per year.