Financial Planning

Making a Difference for You and Your Family

The Certified Financial Planner Board defines financial planning as “the process of determining whether and how an individual can meet life goals through the proper management of financial resources.” Creating a financial plan helps you see the big picture and set long and short-term life goals. This is a crucial step in mapping out your financial future.

When you retain the services of the firm, our team meets with you to gather information about your financial background, circumstances to consider, resources available to fund your future desired lifestyle, and goals and objectives. Next, we consider your risk tolerance, Family Index Number, and tax situation including your tax brackets and the tax attributes of your current portfolio (Taxable, Tax Deferred, and Tax Free). The team then develops a multi-year cash flow based on your current assets, projected asset growth, projected future income and your projected spending plan. Monte Carlo testing is utilized to determine a portfolio’s probability of success in supporting your retirement goals by comparing thousands of computer-generated trials with random yearly stock market returns to test your portfolio’s robustness. Eighty-five percent is considered the minimum acceptable probability of success. If the probability of success is below this, the team considers different retirement planning options or scenarios to determine the alternatives most suitable for you. The team effort results in a comprehensive Written Financial Plan for your review. The Retirement Extender® team then uses your approved Written Financial Plan along with your Client Investment Policy Statement as key resources to prepare initial portfolios and to provide on-going monitoring and management of investments.