Professional Financial Planners learn their stills by taking college level courses which involve them reading through and studying what we call “case studies.” Then we discuss these cases in class as a group. This includes reviewing the fact-finding data provided, including but not limited to income and assets. Then a description of the goals and objectives of the clients involving their retirement and estate planning. These include the client’s feelings on investment risk taking and what their expectations are for inflation.
We review each possible Plan design option the client could be present to accomplish their objectives. We weigh the likelihood of success of each and the obstacles. We also discuss the conflicts of interest and ethics for the Financial Planner if they also sell financial products as solutions.
I am offering you to do the same, that is to learn by a case study with you as the subject. That is the “twist” you are the client learning to be a financial planner for that specific client, you, who should be the most important person in the world to you!
The case study will walk you through their step-by-step decision-making process, starting with whether or not you can actually afford to retire early or should wait. Selection of pension options and when and how to use their social security resources. Dealing with questions like how much money will I/we need in retirement, how long will it last. How to implement a capital retention strategy, which allows you to essentially live on interest income and avoid the common and traditional capital depletion-planning often called our "spend-down period." I will share the process of designing a plan to manage your risk (as you perceive it) of living too long, the potential of huge long-term care expenses when you get older, and of course that of inflation, and how to deal with those. Then that all important subject of asset allocation for investment in their portfolio, and the possible use, as part of that the blend of FIA's (for nest egg growth) and SPIAs (for providing monthly income) and Life Insurance. If and as needed, may involve the installation, by me, of suitable products/programs which I specialize in, and for which I would receive a commission. Below is a short explanation of what these are.
This would involve me doing the necessary updating of fact-finding information to learn about your current situation. With a few exceptions, you must be meeting my “client profile” as published on this site and be a client of mine now. This is expanded to at least having been a customer who has purchased one or more financial products from me in the past. This includes such financial instruments and services as Residential Mortgages, Stocks, Bonds, Mutual Funds, Annuities, Life Insurance, Disability Insurance, Health Insurance; or worked for a company for which I have been the Broker/Administrator for the company’s 401(k) plan, or paid me as an Registered Insurance Advisor hourly for financial planning in the past.
There are three exceptions to this, if you are:
A family member of mine.
A friend of mine.
A direct verifiable referral from family member, friend or client of mine.