Age based planning 2013
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Age based planning 2013

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Life is a long journey. This is how we’ll ensure yours – at each new stage, through every financial challenge and opportunity – is well planned.

Life is a long journey. This is how we’ll ensure yours – at each new stage, through every financial challenge and opportunity – is well planned.

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  • After we’ve thoroughly discussed all these factors, we’ll implement a plan that reflects what is most important to you and balances the risks you face throughout your life.We can conduct a more robust analysis to stress test your financial situation and give you confidence to reach your goals.Then, we’ll monitor and adjust the plan as needed.

Age based planning 2013 Age based planning 2013 Presentation Transcript

  • Timothy J. McNeely CFP® CIMA® 18919 Nordhoff St., Suite 6C Northridge CA 91324 888-300-8003 ||818-534-4949 tim@mcneelyfs.com mcneelyfs.com ©2012 Raymond James Financial Services, Inc., member FINRA/SIPC. Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC.1 Digital Financial Planning for DentistsTM
  • PLANNING FOR A LIFETIME LIFETIME PLANNING STAGES LAYING THE GROWING MAKING THE FOUNDATION YOUR ASSETS TRANSITION SPENDING YOUR LOOKING TO MONEY WISELY THE FUTURE2 Digital Financial Planning for DentistsTM
  • PLANNING FOR A LIFETIME LAYING THE FOUNDATION GROWING PLANNING FOR A LIFETIME YOUR ASSETS Life is a long journey. This is how we’ll ensure yours – at each new stage, MAKING THE TRANSITION through every financial challenge and opportunity – is well planned. SPENDING YOUR MONEY WISELY LOOKING TO THE FUTURE3 Digital Financial Planning for DentistsTM
  • PLANNING FOR A LIFETIME LAYING THE FOUNDATION LAYING THE FOUNDATION BALANCING PRIORITIES AND MAKING PLANS GROWING YOUR ASSETS The most important step in financial planning is simply to start. And the earlier you start the MAKING THE better your chance of building a solid financial TRANSITION foundation that can grow with you and support your near-term needs and long-term SPENDING YOUR MONEY goals. As you begin planning, these are the WISELY challenges you’ll face and how we can help you solve them. LOOKING TO THE FUTURE4 Digital Financial Planning for DentistsTM
  • LAYING THE FOUNDATION Maintaining an appropriate balance between spending and saving We’ll help you create a sustainable plan in which you spend less than you earn and direct savings toward important goals. Managing and eliminating debt We’ll encourage you to stick to your plan to avoid accruing new debt and help you structure a plan to systematically pay down existing debt. Planning for near-term goals We’ll help you quantify and prioritize your more immediate needs and wants, like starting a family, taking a vacation or buying a car. Preparing for unforeseen expenses We can assist you with starting an emergency fund with three to six months’ worth of living expenses, at minimum.5 Digital Financial Planning for DentistsTM
  • PLANNING FOR A LIFETIME LAYING THE FOUNDATION GROWING YOUR ASSETS ACCUMULATING FUNDS AND GROWING MAXIMIZING POTENTIAL YOUR ASSETS With your financial plan in place, now you can focus your efforts on accumulating the funds MAKING THE TRANSITION that will support you, your family, your career and your future. At this point in the planning process, you’re likely nearing the peak of your SPENDING YOUR MONEY earning potential, so make the most of it and WISELY keep these challenges in mind. LOOKING TO THE FUTURE6 Digital Financial Planning for DentistsTM
  • GROWING YOUR ASSETS Managing your competing needs and goals We’ll work with you to prioritize your goals and plan accordingly, while always being thoughtful about your current lifestyle choices versus future wants. Planning for retirement We’ll make your retirement our first priority – ensuring you are taking full advantage of savings vehicles, particularly tax advantaged accounts available to you through your employer and Raymond James. Planning for college We’ll help explain and evaluate all of your and your child’s education funding options – from savings plans to scholarships.7 Digital Financial Planning for DentistsTM
  • GROWING YOUR ASSETS (CONTINUED) Maximizing your employer benefits We’ll be sure to help make good decisions and factor your retirement, medical, life and disability benefits into your overall planning. Selecting appropriate investments We have access to a wide variety of investments when designing portfolios for our clients and – with the support of Raymond James research and due diligence, and our own analysis and understanding of your needs – we choose investments best suited to your needs, constraints, obligations and goals. Managing risk We’ll work with you to mitigate volatility in your portfolio, identify risks and assist you with finding the appropriate insurance where needed (renters/homeowners, health, life, disability, etc.).8 Digital Financial Planning for DentistsTM
  • PLANNING FOR A LIFETIME LAYING THE FOUNDATION MAKING THE TRANSITION SHIFTING STRATEGIES AHEAD GROWING YOUR ASSETS As you move closer to retirement, your priorities will shift again and new concerns may arise. MAKING THE TRANSITION Your planning should shift as well, from accumulation to distribution. Now’s the time to begin developing a sensible strategy for how SPENDING YOUR MONEY you’ll spend money in retirement and how you’ll WISELY continue generating income in the years ahead. LOOKING TO THE FUTURE9 Digital Financial Planning for DentistsTM
  • MAKING THE TRANSITION Keeping your retirement plan on track We’ll work with you to maximize contributions, consider your rollover options and create strategies for distribution. Preparing for the transition into retirement We’ll estimate when you expect to retire and begin mapping out your “exit strategy” well in advance of that date. Maximizing government benefits We’ll help explore your options with regard to programs like Social Security and Medicare to help ensure you’ll get the most from them, and integrate them into your overall retirement income plan.10 Digital Financial Planning for DentistsTM
  • MAKING THE TRANSITION (CONTINUED) Caring for an elderly parent Should the need arise, we can help you assess and manage your parent’s finances, as well as help explore and maximize available public resources such as Medicaid. Assisting adult children We’ll work with you to ensure you can help your children without hurting yourself, helping you determine what you can do without adversely impacting your own plans. Streamlining your finances We can help you consolidate your investments and other financial accounts wherever possible to build a simplified process for managing cash flow.11 Digital Financial Planning for DentistsTM
  • MAKING THE TRANSITION (CONTINUED) Dealing with health issues We’ll work with you to incorporate healthcare expenses, Medicare, long-term care and emergency planning into your overall financial plan. Making the most of your resources We’ll help you determine the best methods for maximizing any pension, Social Security or other income you expect to receive. Starting to plan a legacy We’ll coordinate with you and your other professionals to help create a will and incapacity documents, and begin discussing your wishes for estate distribution and charitable giving.12 Digital Financial Planning for DentistsTM
  • ESTABLISHING YOUR LONG-TERM PLAN Retirement is all about making good decisions This is a great point to identify and record your goals There are a lot of decisions and trade-offs facing you as you consider your next phase of life. What are your goals for retirement, how much income will you need, what do you want to do with your money and your time? What benefits can you expect? What about your health? Are you in the Confidence Zone? We have the tools and resources to ensure that you understand your choices and how they can impact your confidence in a secure retirement.13 Digital Financial Planning for DentistsTM
  • STARTING THE PLAN One of the best ways to ensure that you achieve a goal is to write it down. The same applies to financial goals. We have tools and resources to help you get started. The process can be relatively easy: 1. Identify your goals (needs) and expenses (wants) 2. Identify your assets and income sources 3. Use our interactive tool in collaboration with your advisor 4. Analyze the likelihood of reaching those goals 5. Create an action plan to give you confidence14 Digital Financial Planning for DentistsTM
  • PLANNING FOR A LIFETIME LAYING THE FOUNDATIONSPENDING YOUR MONEY WISELY GROWING Achieving goals and conserving resources YOUR ASSETS It’s time to retire – to start reaping the rewards of all your hard work. But it’s also a MAKING THE TRANSITION critical period in your financial planning process. You’ll soon have the dual responsibilities of spending and preserving SPENDING YOUR MONEY the funds you’ve accumulated. So, while you WISELY should certainly enjoy this time, don’t forget you still have some important LOOKING TO things to consider. THE FUTURE15 Digital Financial Planning for DentistsTM
  • SPENDING YOUR MONEY WISELY Knowing when you’re ready We’ll continually monitor your progress – reviewing your portfolio and other accounts as well as the income you can expect from other sources to help determine when the time is right for you to officially retire. Making a successful transition We’ll encourage you to lay out a solid plan for how you’ll spend your time post-retirement, beginning immediately after your retirement date. Preparing for the unexpected You face the risk of many unforeseen costs in retirement. We can help identify and plan for key unknowns, such as the potential need for long-term care.16 Digital Financial Planning for DentistsTM
  • SPENDING YOUR MONEY WISELY (CONTINUED) Generating income in retirement We’ll shift the strategy behind your portfolio from one driven by generating returns to one designed to generate consistent income and preserve wealth, while keeping up with inflation. Staying disciplined We’ll work with you to develop and stick to a sustainable spending policy that differentiates your needs from your wants and is designed to make your money last through retirement. Maintaining open communication A collaborative, ongoing process is essential to achieving a comfortable retirement. We’ll work hard to communicate frequently to ensure you are on the right track.17 Digital Financial Planning for DentistsTM
  • PLANNING FOR A LIFETIME LAYING THE FOUNDATION LOOKING TO THE FUTURE Living well and making an impact GROWING YOUR ASSETS By now, you’ll hopefully be in a good place – you’ll have adjusted to a new pace and MAKING THE TRANSITION lifestyle, and you’ll have more time to focus on things beyond the day to day. This is when you should start looking at the biggest SPENDING YOUR MONEY of big pictures: your legacy. WISELY LOOKING TO THE FUTURE18 Digital Financial Planning for DentistsTM
  • LOOKING TO THE FUTURE Protecting your wealth We’ll review your existing coverage to make sure you’re well protected and explore insurance strategies that can help to preserve your assets. Ensuring your wealth ends up where you want it to We’ll collaborate with your other professional advisors to develop a coordinated estate planning strategy that outlines to whom, where and how you want your assets distributed. Leaving a lasting impact With your help, we’ll identify the causes you care about most and create a generous, tax-advantageous giving strategy. Sharing your plans with the people in your life We’ll encourage you to share your plans with your family to ensure everyone is aware of your intentions.19 Digital Financial Planning for DentistsTM
  • TESTING YOUR PLAN As you look to the future, there are a lot of unknowns, and the key to successful planning is making sure that the plan is flexible enough to withstand the unexpected. We can evaluate your personal plan for its sensitivity to changes in many of the different risks that can impact your chances of achieving your goals. Longevity Spending and Unknowns Outliving your money Withdrawals “What if …”  Long retirement Spending beyond your means  Long-term care needs horizons due to  Wants vs. needs  Potential disability longer life expectancies  Sustainability of withdrawals  Medical expenses  Outliving assets  Impact of spending behavior  Early death of a spouse  Unexpected expenses Inflation Market Risks Things cost more over time Can’t control the markets  Erodes the value of savings  Uncertain returns and income and reduces returns  Return sequence  Healthcare inflation 6+% Source: U.S. Bureau of Labor Statistics  Asset allocation and location Stress testing your plan against key risk factors can help move you into “The Confidence Zone.”20 Digital Financial Planning for DentistsTM
  • REVISIT YOUR PLAN REGULARLY The future is a long time, and part of staying in the confidence zone is about flexibility and adapting your goals to your personal situation. We have collaborative tools that let you keep track of your plan and track your progress toward your individual goals. Identify your goals (needs) and expenses (wants)  Identify your assets and income sources  Use our interactive tool in collaboration with your advisor  Analyze the likelihood of reaching those goals  Create an action plan to give you confidence21 Digital Financial Planning for DentistsTM
  • RAYMOND JAMES AT A GLANCEDespite the financial turmoil of the past few years, Raymond James has delivered 98 consecutive quarters of profitability, reinforcingits reputation as a pillar of stability for our advisors and their clients. We believe that success has a lot to do with the firm’s unwaveringcommitment to its founding core values of putting clients first, conservatism, independence and integrity.BY THE NUMBERS STRENGTH AND STABILITY HONORS AND ACCOLADES Earnings Per Share – Trailing 10 Years In March 2012, Fortune magazine ranked Raymond James Financial the fourth most admired securities company in the world for the 98 consecutive second year in a row. The survey involved 698 quarters of profitability companies from 32 countries. Judging was based on attributes such as quality of More than 10,000 management, products, services and social associates worldwide responsibility. Over 6,000 financial advisors In May 2011, SmartMoney named Raymond James the best full-service broker Over 2,500 locations in its 2011 Annual Broker Survey for the third (United States, time in four years. In fact, Raymond James Canada and abroad) 2011 Total Revenue – By Business Unit was one of only two full-service brokers in the survey whose model portfolios beat the 2 million client accounts S&P 500. Approximately $375 billion in client assets In April 2011, The Wall Street Journal ranked Approximately $40 billion seven Raymond James analysts as managed by our subsidiary Master Stock Pickers for 2010 as part of its 19th annual asset managers “Best on the Street” survey.Updated 7/26/2012. The data provided is for informational purposes only and is not a solicitation to buy or sell Raymond James Financial stock. Past performance may not be indicative of future results. Please note that fees and charges will reduce an investor’s return. Investing involves riskincluding the potential loss of capital. SmartMoney does not endorse any product or service of Raymond James. The survey criteria included performance of recommended stocks, customer satisfaction, and user-friendliness of account statements and websites. The S&P 500 is an unmanagedindex of 500 widely held securities. An investment cannot be made directly in the index. Fortune magazine does not endorse any product or service of Raymond James. The Wall Street Journal does not endorse, sponsor or approve the investment programs of Raymond James. The Wall StreetJournal survey identifies the top five analysts across various industry categories, basing the awards on stock-picking skill. Digital Financial Planning for DentistsTM