Four Areas of Financial Planning
Building a successful financial plan can be confusing. A coordinated financial plan provides a framework for achieving financial security. A proper financial plan will look at 4 important aspects of your overall financial position. These areas include:
- Financial Planning
- Investment Management
- Risk Management
- Estate Legacy Planning
IGNITE the F.I.R.E.
Our clients, in the past, when inquiring about their investments, might have asked if they were investing properly; are they in the right funds, or if the funds were performing at their peak. In comparison, they might have asked the same question in regards to the “car” scenario; is it fast enough, is it the right car for the trip?
We cannot foresee what might happen down the road but if we undergo a thorough process on how to plan for our “trip”and we can help you navigate the road ahead.
Financial Planning: Investors today ( drivers) are engaged in being prosperous; sometimes so much so, they have no time to check out the maps and in which direction they are bound for. Navigating so that our “driver” recognizes, and defines where the road is heading – eliminating or minimizing any “forks,” we will help them select opportunities to view the big picture. This is what we do best.
Investment Management: Once we determine the route, we can then select a suitable
investment vehicle. Selecting a suitable vehicle Samson Chan will move his clients forward in a manner that they are at ease with, and that makes the most sense for their situation, and lifestyle.
Risk Management: Assessing for obstacles, or road conditions such as traffic, peaks and hills, incidents that block the process, the right insurance coverages, and how to maintain the “vehicle” properly, help minimize risks. Samson Chan helps guide his clients with the appropriate risk-undertaking essentials moving them comfortably, quickly to their individual destination, and in their own timeframe.
Estate Planning: When it’s time…When the time is appropriate to transfer or allocate assets, or company to the one(s) designated, as it is with a vehicle, we can then accurately allot the elected amount to the appropriate recipients, at the appropriate time, and, if a business, at the appropriate price. Our team of consultants advises on how and when to move this “vehicle” for the best possible potential outcome, now or down the road.
|Financial Planning||Investment Management||Risk Management||Estate Legacy Planning*|
|Cash reserve levels||Tax reduction||Minimum distribuitions||Asset allocation||Disability options||Estate balancing|
|Cash reserve strategies||Tax deferral||Pre-59 ½ strategies||Education planning||Long-term care-timing/prem/coverage||Capital transfer|
|Debt mgmt||Tax avoidance||401 Ks||Lump-sum accumulation||Umbrella liability||Asset ownership|
|Cash flow management||Future taxes due||IRAs||Options/restricted stock/non-qualified deferred compensation||Life insurance||Trusts|
|Net worth||Withholding||Medicare/Medigap||Ongoing investment fees||Medical/Health||Wills|
|Discretionary income||Tax diversification||Social security||Risk tolerance||Property & casualty||Trust funding|
|Expected large inflow/outflow||Qualified investments||Roth conversions||Tax implications||Deductibles vs cash reserves||IRD|
|Lines of credit||Non-qualified investments||Income streams||Cost basis||Policy status||Succession planning|
|Effects of liquidation||Income streames-transitions||Timeframes||Policy loans||Special needs dependents|
|Filling status||Health care||Diversification strategies||Beneficiary designations||Minor children|
|Business ownership||Tax transitions||Dollar-cost averaging||Special needs situations||Generation skipping|
|Non-traditional ownership||Risk tolerance transition||Market timing issues||Alternate/ add’1 coverage strategies||Short-term life expectancies|
|Timing issues||Estate liquidity|