While our firm’s main focus is on accounting and taxes, we also assist our clients in other aspects of their financial lives.
Personal financial planning can involve a number of other professionals including Certified Financial Planners, Investment Advisors, Estate Attorneys, and Insurance Agents. We believe strongly in a team approach and work to support our clients in their relationships with other professionals. In some cases, we serve as our client’s “team leader” and help to manage these relationships.
Listed below are a series of preliminary questions that will help you gauge whether you need assistance in this area.
1. Do you have a financial plan?
a. Is it meeting your goals?
2. Do you have a retirement plan?
a. Do you know how much income it will provide you at retirement?
b. Is this enough?
c. Do you know the average annual rates of return your retirement plan assets are earning?
3. Do you have an estate plan?
a. Do you have a current will?
b. Will your estate plan work? For example, are your assets titled in a manner that is consistent with your estate plan?
4. Who do you consider to be your “team leader” for the purpose of financial planning?
b. A professional advisor
c. I need a “team leader”
5. Do you have adequate insurance coverage in the following areas?
c. Long-Term Care
d. Personal Liability