- Explore what retirement means to you
- Consider income and available assets needed to fund that vision
- Examine where you are and where you need to be
- Identify baseline income sources (pensions, social security, etc.)
- Consider additional expenses you may incur (health care, long term care)
- Create a roadmap to achieve goals; include regular checkpoints
- Monitor progress to track impact over time
- Review your experiences, strategies, beliefs, biases, etc. concerning investing
- Create an investment strategy that aligns with those findings, as well as your roadmap for retirement planning, education funding, and more
- Monitor the allocation of the portfolio continually for necessary adjustments to reach objectives
- Explore ongoing income and available assets that may be needed to overcome an unexpected situations such as disability or a premature death.
- Examine assets and insurance coverages currently available
- Determine whether adjustments (an increase or decrease) are needed to protect your family
- Explore goals pertaining to your impact, your legacy
- Review current estate planning documents (wills, trusts, power of attorney)
- Review current ownership and beneficiary designations on existing assets, liabilities, and accounts
- Refer you to a local attorney, if necessary
- Explore current or future obligations/desires you may have for your family; will you support or care for a loved one? Will you invest in your children’s education? Will you receive an inheritance from one or many sources?
- Explore the way your family communicates about money; how will you educate your children about finance? How can you incorporate lessons about money into your family’s daily life?
- Build a roadmap to prepare for these situations as you deem appropriate