1. VoRNADO Realty TrusT 2017 Manager retreat
FINANCIAL PLANNING Presentation

2. Goals and Objectives
An effective financial plan is built around clearly defined Goals and Objectives
People are 42% more likely to achieve goals by writing them down on a regular basis
Goals should be S.M.A.R.T.
Specific
Measurable
Actionable
Results Oriented
Time Specific

3. Estate planning “Must Have” Documents Last Will & Testament
Durable Power of Attorney
Healthcare Directives
“Might Need” Documents
Irrevocable Life Insurance Trust
Revocable Living Trust
Other Considerations
Asset Titling
Designated Beneficiaries

4. Life Insurance Why you need it? Family Protection Income Replacement
How much is needed?
Future college costs: $500,000
Mortgage payoff: $500,000
Income replacement: $2,000,000
Special Events (wedding): $100,000
$3,100,000
Structure is critical
Term
Permanent

5. Disability insurance
Your chances of becoming disabled for 90 days or longer prior to age 65 are 25%
The ability to earn an income is one of your greatest assets
Short–term vs. Long–term disability
How much disability should you have?
Pre-tax vs. Post-tax considerations

6. Long term care insurance
Why you may need Long Term Care Insurance?
LTC pays for services required if you are unable to care for yourself due to:
Injury
Chronic Illness
Disability
When to start thinking about it?
Myths about LTC…
I’m too young
My family will take care of me
I will save enough to cover costs
Traditional vs. Non-Traditional policies

7. Property & casualty insurance
Main Policies:
Auto Insurance
Homeowner’s Insurance
Umbrella Liability Insurance
How often should your policies be reviewed?

8. Education planning Your goals for funding higher education Fully fund?
Utilize student loans?
Graduate school?
Start Early, Start Early, Start Early!
Varying costs of school
Public
Private
529 Education Savings Account
Automatic monthly contributions

9. Cash flow/retirement planning
Start saving early…
Much easier to make a change early on vs. waiting
Risks of outliving your money
Get a handle on your expenses
Helpful tools include Quicken or Mint
Automate your savings
401(k) / IRA / HSA Plans
Taxable Savings Accounts
The role of medical costs in retirement

10. Charitable planning Different methods of charitable giving:
Cash donations
Stock/Mutual Fund donations
Donor Advised Funds
Tax Advantages

11. Portfolio management Have a plan in place, and test it often!
Stick to your plan
Rebalance your portfolio
Scheduled rebalancing
After big changes
Know that downturns can happen
Aggregation software – consolidated view of all accounts
Keep expenses low

12. Today’s Speaker Donald J. Hertling, CFP®, MST Phone: (973) 287 – 5433
As President, Chief Compliance Officer and Head of Financial Planning at Heller Wealth Advisors, Don has more than 21 years of experience in wealth management. In his role as President, Don is a driving force for innovation, process and growth. In his other capacities, Don develops, implements and monitors our clients’ financial planning strategies and heads the firm’s compliance program. Don takes great pride in our team’s ability to provide an exceptional experience to each and every client.
Previously, Don spent nine years at a regional wealth advisory firm where he led the financial planning department. Don earned his Master’s in Taxation from Fairleigh Dickenson University and his bachelor’s degree in Business Administration from Rider University. He also holds the CERTIFIED FINANCIAL PLANNER (CFP®) designation. Don is a past Board Member of the New Jersey Institute of Certified Financial Planners and the New Jersey Financial Planning Association.
Don resides in Morganville, New Jersey with his wife Tara and two children, Ryan and Reilly.