Key Elements of Financial Planning

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Join Dave and Nick as they recap the SRB financial planning process and list out the key elements they look at with each client as they walk them through their personalized financial planning goals.

Some of the nitty-gritty decision-making things that make a successful financial plan and lifelong terms to create the life that you want.

Retirement – Existing savings like 401k, Roth IRA, etc. What are the contributions, and are the savings adequate to meet your needs?

Tax Planning – This often feeds into current retirement planning regarding pre or post-tax contributions.

Investments & Risks – For every increase in return there is more risk, so what level of risk makes the most sense for you based on your personality and where you are at in your timeline for retirement?

Asset Allocations – How do we mix stocks, bonds, and cash to come up with the best plan? And then how we implement these plans.

Budget – This is important to have a good balance between saving and spending. How long will it take to get to the savings goals you have?

Retirement Timeline – When can you retire to meet all of your financial retirement goals?

Social Security – One of the things we can play around with within a plan is social security. What if Social Security gets cut by 25%? If the planning is good, needs are typically still met, but you may have to adjust your wants and discretionary spending.

Market Corrections – What if we have a market crash like 2008? We can plan for these things that may happen. If your mind hasn’t gone there or thought about these possibilities, you are more likely to panic with market corrections.

Our software allows us to stress test financial plans – we can put in things like passing away earlier or later than expected, stock market behavior, social security returns, and more.

Estate Planning – Everybody should have an estate plan to make sure you are taken care of while living and your assets are assigned correctly.

Related: Estate Planning Webinar with Molly Petitjean

Need Help with Your Financial Planning?

The financial advisors at Shotwell Rutter Baer work with many clients to maximize their retirement plan benefits and abilities. If you would like to find if there is more you can do with your plan, give us a call at 517-321-4832.

Check out our Strategic Reliable Blueprint process here. 

About Shotwell Rutter Baer

Shotwell Rutter Baer is proud to be an independent, fee-only registered investment advisory firm. This means that we are only compensated by our clients for our knowledge and guidance — not from commissions by selling financial products. Our only motivation is to help you achieve financial freedom and peace of mind. By structuring our business this way we believe that many of the conflicts of interest that plague the financial services industry are eliminated. We work for our clients, period.

Click here to learn about the Strategic Reliable Blueprint, our financial plan process for your future.

Call us at 517-321-4832 for financial and retirement investing advice.