Money comes and goes, that’s the way of life. But as your advisors, we work with you to figure out how much you need whether it’s to save for retirement, to put a down payment on a house, or to make sure you can pay your taxes.
Income
Depending on where you’re at in your life journey will impact what income is coming in and what income you may need to help ensure that you feel comfortable with your lifestyle:
- Salary or Pension
- Social Security
- Portfolio Distributions
Tax Rate
Taxes can be intimidating, but not for us. We have several advisors who have worked with taxes and enjoy strategizing about numbers to aid you in financial decisions. Here are a few tax items we consider when working on your financial plan:
- Income
- Deductions
- Capital Gains
- Marginal & Effective Tax rates
Debt Rate
At some point everyone has had debt, and that’s okay. We’re here to guide you through decisions to help you manage your debt. Here are just a few examples of what we look at:
- Mortgage
- Credit Cards
- Student Loans
Savings Rate
How much do you put away for the future? Whether it’s long term like retirement or for your dream vacation, let’s look at how much and where you’re saving in comparison to your income.
- Savings account
- 401k
- 529 College Account
Burn Rate
If you had all your money and assets in cash, with no income, and continued to spend as usual, how long would your money last you?
- Living expenses
- Debt payments
- Entertainment
Distribution Rate
The generally accepted distribution rate of a portfolio is 4%, but that may not be the case for you and your needs, so part of our job is to help create the right distribution to meet your needs, all while making sure your money will last.
- Investment total
- Distribution amount
- Percent of total distributions