The document uses nautical terminology to discuss financial planning and retirement. It discusses navigating through different financial "waves and squalls" like business cycles, as well as "tides and currents" like demographic changes. It emphasizes setting a clear "number" or financial goal as a destination, then planning provisions, outfitting your resources, and paying for the journey to reach that destination. The document provides an overview of the financial planning process using nautical metaphors.

1. Waves and Squalls
&
Tides and Currents
Navigating to Your Number
Joseph R. Birkofer, CFP ®
Principal
Legacy Asset Management, Inc.
713-355-7171
jbirkofer@legacyasset.com
www.legacyasset.com

2. Waves

3. Tides

4. Squalls

5. Currents
Male 85 92
Age 65
50% chance of 25% chance of
living to 85 living to 92
88 94
Female
Age 65 50% chance of 25% chance of
living to 88 living to 94
92 97
Couple
At least one person
(Both Age 65) 50% chance of has a 25% chance
living to 92 of living to 97
5

6. Business Owners Focus:
Waves and Squalls
Sales
Supplies
Human Resources
Competition
Regulation
Risk management

7. Boomer Business Owners
High Tide Low Tide
Sellers market Buyers market
Competitive advantage No barriers to entry
Strong staff Disengaged employees
Loyal customers Commodity customers
Exit strategy One day at a time

8. A rising tide raises all boats.
A falling tide shows who is swimming
naked!

9. A Falling Tide of Demographics

10. What does all of this nautical terminology
have to do with your “Number” ?
Your “Number” is not a dollar amount
Your “Number” is the Location you are
trying to get to

11. The “Number” is Latitude and Longitude

12. Conventional Thinking
Ten million?
Twenty million?
One Hundred million?
Five million?
That’s not where people live

13. Setting the Course
Plan the route
Talk to scouts, traders, trappers &
guides

14. Destination Planning
What will you do when you get there?
Family
Fun
Philanthropy
Work
Consulting
All of It

15. Provision Planning
How are you going to eat?
How will you stay sheltered?
How will you stay healthy?
How will you manage illness?
How are you going to enjoy Life?
How will you leave a Legacy?

16. Outfitting
Assess strength & quality of your Vessel
business model
capital needs
competitive advantages

17. Outfitting
Assess strength & quality of the crew
Who is second in command
Improve the crew
Mutiny conditions

18. Outfitting
Secure the lines
Products
Services
Customers
Sales
Patents
True up the measurements

19. Outfitting
Secure provisions
Retirement Plans
Mitigate risk
Plenty of tradesmen to help:
CPA’s
Investment Bankers
Lawyers & Strategists
HR Consultants
Financial Planners
Insurance & Risk Management

20. Paying for the Journey
With the Course planned out,
With the Costs of provisioning known,
With the Vessel shipshape and the crew at the
ready:

21. Paying for the Journey
Calculating the cost for the journey becomes a
pretty straight forward exercise
Finding the right “Sponsor” becomes a function of
“when”, not “hope.”

22. Paying for the Journey
There will still be waves and squalls to contend with
but there will a plan, and pilots, to guide you.

23. Questions & Comments
Thank You!
Joseph R. Birkofer, CFP
Principal
Legacy Asset Management, Inc.
713-355-7171
jbirkofer@legacyasset.com
www.legacyasset.com

24. Gary Cooper, CPA Carlos Lopez Joseph Birkofer Matt Register
Succession Planning Auditing Wealth Management Investment Banking
Director
Patrick Murphy Darrell Hail Devin Hunter Don Kelly
Attorney Risk Management Human Resources Strategic Planning
www.forwardresults.com