Creating a Strong Financial Plan Creating a Strong Financial Plan

PLANNING FOR THE ROAD AHEAD /// Focus on your specific needs and goals Use those to shape decisions on your investment, retirement, education, taxes, insurance and estate planning The path to financial security can be challenging

WHAT TO EXPECT IN A FINANCIAL PLAN /// A customized, unbiased proposal based on your unique needs, resources and goals Practical strategies to navigate the complexities of your financial life, building on strengths and addressing weaknesses Flexibility to handle the good, bad and unexpected in personal and professional lives Help monitoring and revising to meet your goals as well as your lifestyle

The AICPA Statement on Standards in Personal Financial Planning Services and CPA Professional Code of Conduct – “in the client’s best interest” Apply all of the objectivity, integrity and diligence you expect from a CPA Integrate tax considerations within the entire financial plan Consider how decisions affect other areas of the plan Identify and address areas of risk in the plan A CPA FINANCIAL PLANNER’S APPROACH ///

A clear understanding of where you are and where you want to be WHAT ARE YOUR NEEDS? /// Income tax planning and preparation Estate planning Retirement planning Investment planning Education planning Strategic business planning and consulting Risk management planning

INCOME TAX PLANNING AND PREPARATION Impact of tax-law changes Short- and long-term planning Reducing future liability Dealing with the IRS

ESTATE PLANNING Review wills, trusts and retirement plans Keep all documents up to date Preserve assets for the next generation and reduce tax liability Honor your wishes

RETIREMENT PLANNING What does your retirement dream look like? How much is needed to get there? Primary sources of retirement income and distribution models Tax-efficient financial choices can be considered

INVESTMENT PLANNING Risk tolerance Asset allocation and cash flow Investment options Tax implications Strategies for financial setbacks or windfalls

EDUCATION PLANNING Strategies for consideration Tax credits and deductions Involving your children Updating your plan to reflect life-event changes

BUSINESS PLANNING A realistic business plan Organizational structure Financing Employee benefits, executive compensation, retirement plans, insurance and other considerations Integration with personal financial goals and plan

RISK MANAGEMENT PLANNING Protection of assets Understanding liability in business ventures Affect of loss on income or assets World events, both natural and man-made

SELECTING A FINANCIAL PLANNER /// Relationship and trust Adherence to a professional code of ethics Education, qualifications and credentials Complex tax knowledge Year-round availability

QUESTIONS ///

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