Who you are.
Successfully managing a nest egg through a long retirement takes time and attention, technical expertise, and keeping your emotions around money on an even keel. You’re looking to partner with a professional on all counts.
Preparing to retire?
It’s a tectonic shift to go from decades of saving into your portfolio, to taking distributions out of your portfolio. We’ll run, and re-run your retirement projections until you’ve got a sustainable plan. We’ll get your investments sorted out, so you can have confidence in taking portfolio distributions. We’ll look at schedules that show you where the money’s coming from every year, demystifying the process of creating the retirement paycheck.
If you’re closing in on retirement, we’ll be going over the laundry list: Social Security. Rollovers. Roth conversions. Tax-smart portfolio distributions. Estimated taxes and tax withholding. Longevity risk. Sustainable spending. These are a few of the issues I live with on a daily basis.
With any luck, the early years post-retirement are calm. You’ve got a spending plan that works, your insurance coverage and estate documents are in order, and you’ve adjusted to spending down instead of saving money.
Time stops for no one, however. Goals shift, tax law changes, and markets move. As you age, you’ll have new financial concerns, and we’ll address them together: funding college for grandkids, simplifying your financial life, bringing adult children in on your finances, and planning for how and where you’ll live as you get older.
On your own?
We all need somebody to talk to about our money. If you’re on your own it can be very helpful to work with an advisor who you trust. A good advisor can give you confidence — confidence that you’re being smart with your money, confidence to stick with it when stock prices are falling, and confidence that you understand your choices as financial decisions need to be made.
Start it up.
How does this work? First step: Give me a call.
We’ll talk, and if it looks like there’s a possible fit, we’ll schedule a complimentary face-to-face meeting to deepen the conversation. After that meeting, you decide whether you want to work with me, and vice-versa.
Our work together starts with a meeting to go over your homework (it’s all upfront, so the pain is intense, but brief). Once I have your information, we meet 4-5 times over the next few months to create a comprehensive financial plan: an analysis of your current financial position and your strengths and weaknesses, followed by written analysis and recommendations on investments, retirement, taxes, insurance, and estate issues — all designed to align your finances with your short and long term goals.
We’ll iterate your retirement projections until we have something that works, set up your investments so they’re diversified, low cost, tax-efficient and risk-appropriate, and identify the tasks needed to get your financial ducks in a row.
From that point forward we meet twice a year, once to review your portfolio, and once to update retirement projections and address financial planning topics. Of course, as issues arise, we talk, email, and have additional meetings as needed.
What does it cost? This is an ongoing service, with ongoing fees.
You pay a percentage of your portfolio to cover my services for investment management and financial planning (also known as an assets under management fee). Fee-only means no commissions and no referral fees; my only compensation comes from my clients. Annual fees are:
• 1% of the first $500,000 in the portfolio
• 0.50% of the amount from $500,001 to $1,000,000
• 0.40% of the amount over $1,000,000
For example, if you have a $1,000,000 portfolio, you pay 0.75% each year, or $7,500. It’s billed quarterly, to reflect your account balance as it changes, but that’s the calculation.
The minimum assets under management for new clients is $1 million.