Step 01
Step 01

Our goal is to help each client develop a plan for reaching their desired destination. This process begins with an initial discussion that helps define and determine your needs.

Where are you today?
What assets have you set aside for retirement? We look at the type of accounts you are using as well as the amount of money you are currently saving every month. Do you have adequate life insurance, disability insurance and long-term care insurance? These are the three major life events that wreak havoc on a client’s portfolio. Do you have the necessary documents in place for the transfer of your estate? Have you updated the beneficiaries on your retirement plans and life insurance? Do you have a will or trust in place?

Where do you want to be?
Do you need money now, later or never? Are you five years or twenty years away from retirement? Maybe you just lost your job and have thought about retiring, but are not sure if you have enough money? Some clients want to achieve other financial goals outside of retirement such as a new home, funding a new business or providing education for children. Other goals to consider include ensuring adequate protection against personal risk, meeting retirement needs, minimizing expense, and planning for the distribution of your estate.

How do you get there?
Once we have established where you are and where you want to be, we can then chart the course to get you there. The first step is to learn more about long-term investment strategies. My definition of long-term investing is simple: Hold on tight and let First Mate do the work. Oftentimes this is not an easy thing to do. Warren Buffet always says, “Be fearful when others are greedy; and be greedy when others are fearful.” Considering a different approach and doing the opposite of what your friends and the media suggest is one of the hardest things to overcome. Experienced long-term investors understand that the market will go up and down. As your First Mate, We will help you stay focused on your long-term strategy through the high and lows. We structure the investments to help you meet your goals in a manner consistent with your risk tolerance. *Long-term investors should realize that 91.5% of your average long-term return comes from how the portfolio is allocated; not market timing or selecting the best companies. We advise clients to never buy something today that you would not want to own in a recession tomorrow.

Our biggest concern is making sure that you do not run out of money in retirement. People are living longer due to advances in medicine and technology. No one wants to be a burden on their family. Planning a proper course of action can alleviate a lot of these concerns.

Evaluate and Monitor the Plan.
This is the most important step. Things happen and sometimes even the best plans are altered due to life changing events. These events can include marriage, divorce, birth, job loss, disability, long-term care health problems, becoming the primary support for older parents and death. Or, perhaps you receive an inheritance? What should you do with the money? How does this affect your retirement? Let your First Mate help you navigate these life changing events and stay on course to reach your retirement destination.

* Source: Brinson, Singer and Beebower, Financial Analyst Journal, May/June 1991.
  Asset allocation/investment timing cannot eliminate the risk of fluctuating prices and uncertain returns.

The opinions expressed here are for general information only and are not intended to provide specific advice or recommendation for any individual situation or security. Information is based on sources believed to be reliable, but its accuracy is not guaranteed. Investing involves risk including the potential loss of principal. Neither the information presented nor any opinion expressed herein constitutes an offer to buy or sell any security. The information provided is not intended as tax or legal advice and may not be relied upon as such. Estate planning requires a team of experienced professionals including experts in estate, legal and tax issues. Individuals are encouraged to seek advice from their own tax or legal counsel.