Our Services | Financial Planning
Assessing your current and future financial condition can be a complicated endeavor. Our team at Boston Wealth Management believes that every individual should have a sense of his/her current financial condition and a plan to achieve his/her financial goals. Antoine de Saint-Exupery stated it clearly that “a goal without a plan is just a wish”. Our team at Boston Wealth Management believes that this quote is true. Boston Wealth Management wants to assist our clients in making their wishes a reality through comprehensive analysis and planning. As Benjamin Franklin stated “by failing to prepare, you are preparing to fail.”
Boston Wealth Management’s Retirement Readiness Analysis is constructed through a comprehensive analysis of the individual’s current and future financial condition. The client completes a comprehensive financial planning questionnaire. The answers to that questionnaire and the in-depth interview our team has with the candidate is used to complete the Retirement Readiness Analysis. The analysis evaluates the client’s:
- Income Sources
- Current and Future Expense Needs
- Special Expense Needs (College, Vacation, Cars, etc.)
- Net Worth
- Asset Allocation
- Portfolio Diversification
- Portfolio Performance
- Insurance Coverage
Through the review of the analysis, our team at Boston Wealth Management will provide recommendations on:
- Portfolio Construction and Asset Allocation Strategies
- Pre and Post Tax Contribution Strategies
- Distribution Strategies to Minimize Tax Implications
- Life and Long-Term Care Insurance Strategies
- Estate Planning Strategies
Boston Wealth Management charges an initial flat fee charge for our Retirement Readiness Analysis. Future updates to the financial plan and the generation of a new Retirement Readiness Analysis report are offered at a reduced rate. Boston Wealth Management believes that all individuals should have a holistic and comprehensive analysis and investment plan. Furthermore, individuals should review and reassess their financial condition at least every 5 years. Through thoughtful analysis and careful planning, we can assist our clients in reaching their retirement goals.
Financial Plan
Creation of a Personal Financial Plan to provide you with an enhanced understanding of the interrelation of the various parts of your wealth leading to projections in areas reviewed with a Portfolio Manager and other BWM professionals as needed, including:
- Cash flow
- Net worth over time
- Monte Carlo analysis – value of investments
- Inflation impact
- Required Minimum Distributions – IRA
- Asset allocation strategy
- Roth IRA conversion comparison
- Estate strategy impact
- Education analysis
- Projected income
Documents needed: Financial Planning Questionnaire