Sample Solutions: The Seven Basic Areas
CASH FLOW MANAGEMENT
- Restructuring Mortgages
- Home Finance Strategies
- Debt Elimination Planning
- Determine Liquidity Needs
- Identify Cash Reserve Alternatives
- Identify Where Money Is “Disappearing”
- Securing Important Financial Information
- Strategies For Credit Card Use/Management
- Strategies For Financing Major Purchases, Such As Automobiles
INCOME AND ASSET PROTECTION
- Clarify “Need vs. Luxury” Insurance
- Identifying Which Insurances Are Necessary
- Identifying How Much Coverage Is Needed
- Evaluate Cost-Effectiveness of Current Coverage
- Determine the Most Ideal Type(s) Of Coverage
- No or Low- Load Life Insurance Recommendations
- Recommend Optimal Property & Casualty Coverage
- Recommended Medical & Long Term Care Coverage
EDUCATION PLANNING
- Identify Projected Cost Of College
- Determine Financial Aid Qualification
- Evaluate Gifting Strategies For Education
- Provide Effective Strategies For Funding Education
- Prioritize Education vs. Other Financial Objectives
- Use Of 529 Plans, UGMA/UTMA Accounts, Grants, Scholarships, etc.
INVESTMENT STRATEGY
- Clarify Investment “Risks”
- Analyze Current Investments
- Identify Ideal Investment Vehicles
- Evaluate Current Investment Strategy
- Compare Current Strategy Limitations vs. Ideal Strategy
- Recommend Most Appropriate Types Of Investment Accounts
- Identify Proper Liquid and Non-Liquid Investment Balance
- Incorporate Socially Responsible Objectives With Investments
- Research Most Cost-Effective/Tax Efficient Transition Strategy
- Discussion Of Taxable, Tax Deferred, and Tax-Free Investments
- Clarify Appropriate Balance Of Account Types & Asset Proportions
- Provide Understanding Of Current and Recommended Investment Expenses
TAX PLANNING
- Itemizing vs. Standard Deduction
- Manage Capital Gains and Losses
- Roth IRAs and Roth Conversions
- Most Ideal Withholding Strategies
- Estate Tax Minimization Strategies
- Minimizing Tax Impact of Investments
- Maximizing Tax Benefits of Mortgages
- Best Use Of Fixed & Variable Annuities
- Maximize Current & Projected Tax Benefits
- Determine Current & Projected Estate Tax Liability
- Identifying Ideal Use of Tax Deferred Accounts, such as IRAs, Roth IRAs, and 401ks
RETIREMENT PLANNING
- Determine Ideal Investment Amounts
- Required Distribution & Withdrawal Advice
- Evaluate Current Career & 2nd Career potential
- Calculate Projected Retirement Income Needs
- Social Security Income Calculations & Timing
- Determine of Ideal Amounts to Invest for Retirement
- Identify Most Suitable Investment Vehicles For Funding
- Determine Ideal Retirement Account Distribution Strategies
- Current & Future Company Sponsored Benefits Decision Making Input
ESTATE PLANNING
- Appropriate Gifting Strategies
- Advice On Bequeathing Assets
- Clarify Types & Use Of Various Trusts
- Desirability Of Revocable Living Trusts
- Projection Of Estate Settlement Expenses
- Life Insurance & Estate Planning Options
- Minimization Of Estate Settlement Expenses
- Identify Appropriate Estate Planning Documents