Hh
Holistic Financial Planning
( noun )
An approach that takes into account all aspects of an individual's financial situation and goals.
It goes beyond focusing soley on investments or retirement planning and considers factors such as income, expenses, taxes, insurance, estate planning, debt management, and more.
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the ramsey
process
Our tried and true approach to holistic financial planning
for our clients
2
gather
Data
3
Develop
Strategy
4
implementation
5
ongoing
monitoring
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Financial approach
Financial decisions are dependent
on a few factors: financial goals,
time horizon & risk tolerance.
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Our approach allows us to
examine the big picture,
including each of these factors
to put together a portfolio that
will best suit them accordingly.
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Financial
goals
risk
tolerance
time
horizon
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Case Studies
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Family 1
Family 2
Family 3
Early 20s, no kids
student loans to pay
Early 40s, 3 kids,
two incomes
early 60s, Empty nest,
Retirement ready
What is Time Horizon?
Each of the above families are on a different timeline, which means their investment portfolios have different time horizons. An investment time horizon is the time period one expects to hold an investment.
The length of your time horizon plays a role in how you invest. When the time horizon is longer, investments will have more time to grow.
And what about Risk Tolerance?
Risk tolerance is how much risk an individual is willing to tolerate with their investments in order to achieve a potential return.
Risk tolerance and time-horizon are extremely important factors to consider when creating an investment strategy.
An investor can take on more risk if their goal has a longer time horizon. Conversely, if the time horizon is shorter, the investor may prefer less volatility.
Financial success goes beyond choosing the ideal portfolio. Consistent management and oversight play integral roles.
Family 1
The newlyweds from Family 1 are in their early 20s, without children, and are currently paying off their student loans.
Their primary objective is to secure a substantial down payment for a home within the next three years. To achieve this goal, they sought the guidance of a financial professional.
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After their meeting with a financial advisor, the newlyweds expanded their financial aspirations.
In addition to saving for a home, they saw the need to start investing for retirement. With the assistance of their advisor, a comprehensive financial strategy was developed.
They created a savings plan and adjusted their budget to accommodate future mortgage payments. Furthermore, their advisor tailored their retirement portfolio to match their risk tolerance and time horizon, ensuring a sound foundation for their retirement savings.
Family 2
The parents are in their early 40s, have 3 kids, and two incomes. Their primary objective is to continue their investments for retirement and put some money away for college for their kids.
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Their main goal is to stay on track for retirement while ensuring that their investments align with this objective. Following a consultation with a financial advisor, Family 2 realized that the retirement savings they had been building up
were underfunded, incapable of sustaining their desired retirement income.
Upon examining their monthly budget, they found the opportunity to boost their contributions to their retirement investments.
Their advisor guided them in rebalancing their investment portfolio to better match their risk tolerance and time horizon.
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Family 3
The married couple is in their early 60s, they are empty nesters, and are retirement ready! Their primary objective is to conserve their retirement assets and make sure their investment portfolio will generate enough income during retirement.
In hopes to achieve their goal, they sought guidance from their financial advisor. Together, they devised a strategic withdrawal plan from their investments and rebalanced their portfolio
to align with their financial objectives.
Additionally, the couple's advisor started a conversation about the the rising costs of long term-care and the need for insurance to help protect their assets.
They scheduled a follow up meeting with their advisor to explore hybrid long-term care insurance options and how it can help protect their life savings.
Are ready to begin your
financial planning journey?