Because I care, that’s why!

I recently started working with a couple that is three years from retirement. During our first meeting, all we did was talk. I wanted to know what they are doing now, about their family, what they want to do with their time in retirement and what are their dreams and desires. During our second meeting, I reviewed all of their assets, liabilities, pensions, social security and expenses. Then it was time for me to work.

At our third meeting, I presented them with a retirement plan that looked at their cash flow, taxes, which pension choice to choose, when to start social security, and gave them independent investment information on their current investments. I then asked them to take everything, digest the information and write down any questions they have so we can discuss them. I want everyone I meet to feel comfortable with the plans I give them, and most important, be able to understand the plan.

After the third meeting, Mrs. Client asked why her current guy at the bank didn’t do any of this stuff, and why the only call she has received in three years is to be told she has a new Rep?

Because I care – that’s why. I want my client to understand what I am presenting and that I want to see them regularly, at least every six months, to keep up to date on each other. This is how I have run my business for 30 years. This is what I will continue to do.

 

disclosures:http://www.hechteffect.net/?page_id=31

I love saying yes!

Last week I met with three different clients that all want to retire. Their retirement ages are 56, 58, and 67; all have been in their careers for 30+ years. What I asked them for was a list of their current expenses and any large expenses they expect to incur over the next few years, current tax return, statements on their savings and investments, and Social Security statement. I ran a comprehensive plan that included inflation and a conservative growth rate to age 90. I am happy to say that I was able to say “Yes you can retire” to all three. But then I asked the most important question……

“What do you plan on doing now?” Knowing that the economics of retirement will work is important but if you do not know why you will be getting out of bed each morning, you have no business retiring. Each of these three clients was able to tell me of their retirement plans and how they will spend their time. All three will walk different paths but they had put thought into their own view of what to do with their time and the many, many years in front of them.

It is possibly more important to think of the mental, emotional, and actual day to day of your retirement than the economic. I love saying yes!

Disclosures:http://www.hechteffect.net/?page_id=31

Take advantage of me!

Many of you may think of me only as the girl that manages your investments, but I am so much more than that. I am licensed to provide all types of insurance such as Life, Health, Long Term Care, and Disability. I am trained to provide analysis regarding your taxes and estate planning, though I am not a CPA or Attorney. I have enough knowledge in those areas to perhaps save you some money when you do meet with those professionals. Beyond all of this, I am the one that can hold your hand and hopefully provide you with the answers you need to have a happy, long retirement.

A large part of what I do is hand holding. Deciding to actually retire is a big decision and there is a lot of mental discussion that goes along with the financial discussions. The biggest question becomes what to do when you finally retire. If you do not have a clear idea of how you will spend your time, you cannot pull this trigger. This is a big discussion I have with all of my clients. It can lead to many Life-Cycle event discussions. Where to live, what happens if you get sick, what happens when you pass? Through twenty nine years in business I have had all of these conversations. I can share what I have learned from other clients and the large network of services I have created to help with many of the Life-Cycle concerns.

Yes, I put together your retirement plan, I manage your accounts and I meet with you regularly to review and update. Beyond those very important issues, I have so much more to share. So go ahead, take advantage of all I have to offer.

Yesterday was my 53rd birthday.

At dinner, my daughter asked how much longer I thought I might work. Without hesitation I said “20 years, maybe a few less than that”. I can easily see myself still in this profession in my early 70’s. I love what I do.
Every client meeting is different. Every client is different and that keeps things interesting and exciting. Beyond that, I love the problem solving, number crunching, presenting complex ideas in plain English that this career allows. I love meeting with my clients to keep them up to date on their investments and beyond that, to catch up on their families and their lives.
I also love being able to talk on our radio show, “On the money” as well as working with the local Fox & CBS affiliates. Being able to make this crazy world of financial planning easier to understand is what I like to do. So mid 70s to retire, that seems about right to me.

It’s time for resolutions

Peace of mind comes with understanding and being in control of your own financial situation. Whether this need arises during a major life transition such as divorce, or with your everyday finances, we help empower you to make sound financial decisions by providing advice, analysis, and education.

Resolutions need not be big or grand. Baby steps make being financially secure much easier. First take a look at where you stand financially. How much debt do you have? How much are you saving on a regular basis? What big expenses are down the road? Second, you need to put together a plan of action. Here are a couple of steps for you to take:

Pay yourself first. This is a very old idea, but an important one. Pay yourself as you would any other monthly bill. As you see your account balance increase, you will know that you are giving yourself the power of choice. Having cash gives you the power to choose how you spend it. There is no better feeling.

Reduce your consumer debt. If you are only paying the minimum toward this debt – increase the payment. Once your consumer debt is gone, do not charge any more than you can pay off the next month. This takes you back to the previous point- you will now have financial choice.

Start a slush fund for the large expenses that are down the road. If you know that you will need to replace your car in a couple of years, start saving now for the down payment, or maybe even half the value of what you might spend.

Resolutions can be hard to keep, but for 2012, give yourself the peace of mind that comes with financial freedom

Time for a financial checkup

Would you let more than a year go by without taking your child for an annual physical? Of course not. And although your financial future isn’t your child, its health and growth are in your care, too. When was the last time it had a checkup?

A lot has been changing on the economic front in the past 12 months. You see and hear the headlines every day: stocks, housing, automakers, retail, jobs, bank bailouts and all the rest. No one is untouched by the fallout. Perhaps it’s affecting your career and your income. Even if not, it’s a sure bet that they’re affecting your investments and your emergency cash-in-hand fund.

Like many people, you may have found yourself dipping into that fund recently. You’ve heard it before, but there’s no time like the present to restate it: You need six months’ worth of living expenses in cash savings (or close to six months as possible) as your emergency fund. It’s there to cover a sudden loss of income, or out-of pocket costs for unexpected house expenses (summer’s here, and you’re A/C unit isn’t getting any younger) or car repairs, or medical expenses, or . . . the list goes on. Start adding to your emergency fund now.

Once it’s en route to being replenished, you can move on to your longer-term savings goals and holdings, from CDs to your investment portfolio. If you haven’t already, meet with your Certified Financial Planner (CFP) for a checkup of your retirement account and your investments—stocks, bonds, mutual funds, etc. They may need to be re-balanced. Also consider your “time line” (how long before you retire), your reduced investment balances, and how current economic conditions my have affected your original goals. Your CFP can rework that long-term plan for you.

One more checkup: Insurance. Review your medical coverage, disability protection, long-term care plan, and life insurance. Because people are living longer, costs are coming down for many types of coverage—which means you may be paying too much if your costs are based on outdated actuarial tables. And don’t overlook savings on home and auto insurance. Shop around: rates are often competitive there, too. And if your home and auto are insured by the same company, they typically give a discount.

As with physical health, good financial health is critical, so take good care of it. Call your Certified Financial Planner for a checkup now: a little preventive “medicine” can help ensure a financially healthy future for you and your family.

My Hairdresser knows…

I have had gray hair since I was 16. By the age of 22 I had an evenly balanced head of salt & pepper hair. At the age of 30, completely gray, I started coloring my hair. What does all of this have to do with Financial Planning and Money Management… my hairdresser can tell when the markets have been wacky because I need to get my roots colored a lot more frequently.

A big part of what I do is meeting regularly with my clients. There is nothing better than a face-to-face meeting for review & updates. I like to keep up with the changes and events in my clients’ lives and keep them up to date with the market fluctuations and any impact that may have on their plans. Some impacts are not so great, some are beneficial. Since 2008 the fluctuations in the markets have given us a lot to talk about. This is why the roots need more attention.

I worry for my clients. They know that I am watching the different sectors that may affect their investments and will contact when something needs to be done. I enjoy and embrace this responsibility. Any Planner can talk to their clients in good times I will be the one that is calling my clients and holding their hands during the not-so-good times. Contact with my clients, whether via letter, email, or face to face is what sets me apart from other planners. So I will spend more time getting my hair done- it is a small price to pay