Saving for Retirement & College

Personalized Guidance to Help You Secure Your Financial Future

If you are like most people who are working to save for retirement and/or their children’s future college expenses, you may be seeking answers to one or more of the following questions:

Am I saving enough to meet my future retirement income needs?
Are my retirement savings invested appropriately? Am I taking on too much risk or too little risk?
Do I have the financial resources to change careers or start a business without sacrificing my family’s financial security?
How do I balance the need to save for retirement against the need to save for my children’s future college expenses?
If something were to happen to my spouse/partner or me, is our insurance coverage adequate to protect our family?

Before we get into the nuts and bolts of financial planning, we start by getting to know you and what makes you tick. This includes your financial goals, your tolerance for risk, and any additional challenges you face. Armed with this information, we then sit down with you to develop a comprehensive financial plan that encompasses the following services.

Personal Risk Assessment

We work with you to quantify your true tolerance for market volatility. Using a sophisticated tool called Riskalyze, we work to find the optimum balance of risk versus reward so that your assets continue to grow and generate income, but without taking on more risk than you can tolerate. We also examine other potential risks to you and your family. This includes determining whether you have adequate life and disability insurance coverage.

Portfolio Construction and Management

We typically invest in a mix of low-cost actively managed mutual funds and exchange traded funds (ETFs). Every portfolio we manage is based on each client’s unique risk tolerance and goals. Portfolios are rebalanced regularly in response to market events and changes in your personal financial situation.

College Savings Plan

If you have children and you anticipate they will attend college, we will work with you to develop a disciplined college savings plan. This includes deciding how much you can afford to contribute toward your children’s future education expenses, your financial aid options, and options for investing in a 529 college savings plan.

Retirement Income Needs Assessment

One of the most critical but often overlooked questions for future retirees is, “How much income will you need to meet your monthly expenses?” We start by calculating your current expenses for housing, food, insurance, taxes, and other non-discretionary expenses. We then factor in the impact of inflation to project your future income needs. Next, we analyze your potential sources of retirement income, including Social Security, pensions, income from investment properties, inheritances, and your own retirement savings.

Retirement Income Planning

We examine your current savings, including investments held within a 401(k) or 403(b) account and any stock options you may own. Using MoneyGuidePro financial planning software, we run a series of simulations to determine the probability of meeting your income needs for as long as you (and if applicable) your spouse live.