Financial Planning
Financial planning is the process of identifying your financial goals and creating a roadmap for how to achieve them. The primary objective is to determine how to build and manage assets and how to plan for the future. To create a financial plan, we help you establish your short and long-term goals, determine your assets and liabilities, and evaluate your current financial position. From there, we can work together to implement your financial roadmap.
In creating your financial strategies, we address all areas of your financial life, including:
Retirement Planning
Social Security benefits, employer-sponsored plans, and personal retirement savings, including investments, IRAs and annuities, typically comprise one’s retirement income. Deciding which retirement choices are most appropriate for you can be overwhelming. We can help you evaluate options that will support and enhance your overall investment strategies.
Estate Planning
An efficient estate plan not only incorporates tax reduction strategies, but also involves crafting a plan to ensure that your assets transfer to your desired beneficiaries and that they are protected as best as possible from lawsuits, divorce, and other risks. We work with you to create a detailed inventory of your assets and who will receive what and when. We can also work with your attorneys to help coordinate all of your planning needs.
Education Planning
Many families may want to plan for future college funding while still saving for their own retirement. We seek to strike a balance between the immediate need of college planning and future retirement goals. We help clients determine appropriate educational plans, such as a 529 plan, that allow them to also save and plan for their retirement.
Risk Management
Not only is it important to manage the risk of investments, but also the risk of the investor. Risk can take many forms beyond investments: illness, accident, liability, and natural disasters, to name a few. Failing to manage risk properly may jeopardize your financial future. Whether you are a business owner or individual, it’s critical to thoroughly ensure you have a plan to protect your assets and avoid potential financial losses. With access to a wide array of insurance products, we help you determine what type of coverage is appropriate for your circumstances.
Business Planning
As with your personal finances, it’s important to create strategies for your business, including optimizing cash flow, preparing for your eventual exit, protecting your business and family, improving your tax situation, and more. We can assist with a number of your needs, from cash management to insurance.
Succession Planning
Whether you pass on your business to a family member or sell it, eventually you will one day retire and leave the business. Whatever you decide, a succession plan is critical for ensuring a smooth transition and organized transfer of ownership. We believe a succession plan should address multiple concerns and goals, including your business owner retirement objectives and desire to protect against unexpected occurrences. Our goal is to create a succession plan designed to help you retire on schedule and efficiently transfer your business to a buyer or successor.
Business Valuation
Determining the value of your business is critical for a number of reasons, whether you are planning on selling your business, estimating estate taxes, or applying for a loan. There are a number of valuation tactics, which can make it a complicated exercise. Paul Stabrowski is a Certified Valuation Analyst with more than 15 years of experience. Over the course of his career, he has learned to recognize the value intricacies involved, including the debatable aspects of the valuation (such as the life expectancy of certain business equipment) and the subjective (the value of the company’s reputation). We have the knowledge and experience to provide you with an in-depth analysis, which can help you determine the wealth you have built in your business, a purchase or selling price, and more.