At Rand Financial Planning, we understand that retirement planning can be complex and overwhelming. Marge is passionate about helping her clients make sense of it all while providing a clear path forward. Her comprehensive approach analyzes your whole financial picture by walking through the services listed below and many more. This thorough analysis results in guidance based on an accurate and complete financial picture. With an extensive tax background, she can create tax-efficient strategies for pre-retirees and retirees.
The process we use to create your financial plan encompasses our services, but at the heart of it, Marge strives to develop a personalized working relationship that lasts many years. To that end, she intentionally keeps her firm small so she’s able to provide exceptional value tailored to each client. As financial pictures shift and change, she’s available anytime her clients need her to address financial concerns as they arise.
Below is an overview of some of the steps Marge walks you through to build your personalized financial plan.
As retirement approaches, it’s crucial to plan for the income you will rely on when your career ends. To help you prepare for this next chapter of life, we review your income, expenses, current investments, and potential cash flow to help you develop a savings and investment plan that incorporates your goals for retirement. I work with you to determine when you can retire, develop tax-efficient distribution strategies, establish when to claim Social Security, discuss healthcare options, and more. We utilize advanced planning tools that compare different strategies to uncover the most appropriate path for you that provides tax-efficient and stable income in retirement.
Investment Planning and Implementation
We work together to create an investment portfolio that is cost-efficient and tax-efficient to improve your portfolio’s rate of return. This involves developing an asset allocation strategy based on your goals, risk tolerance, and tax situation. Once the investment plan is finalized, I will help you implement your new investment strategy and consolidate accounts if necessary. We then regularly review and rebalance your portfolio as needed to keep it on track to meet your goals.
Social Security Planning
By reviewing your Social Security eligibility, benefits, and potential spousal benefits, we determine a collection plan to start claiming Social Security that helps to maximize your lifetime benefits.
Tax Planning & Preparation
Tackling the intricacies of taxes is a crucial aspect of financial planning. I help you make sense of the taxes you’ll be facing at different times in your financial life and in different circumstances. I provide guidance on tax-efficient strategies and recommend tax-sensitive investment strategies by taking into account income and deductions, Social Security benefits and required minimum distributions (RMDs), in addition to non-retirement accounts. We also regularly evaluate potential Roth conversions to minimize taxes in retirement.
Insurance Planning & Risk Management
A good “defense” is critical to any retirement plan. I do not sell any insurance or get any kickbacks. I simply review your current insurance policies for any potential savings or risks to mitigate. We review your homeowners, automobile, life, disability, etc., evaluate your risks, and then recommend options best suited for you. We also explore long-term care funding options as well.
The ever-changing tax laws make estate planning a necessity for everyone. Even if your legal documents are up to date and your net worth is below the estate tax exemption amount, there are many other issues to address. With an extensive background in estate taxation, I help you navigate this complex area and make recommendations to align legal documents with your financial strategies, providing a seamless and comprehensive approach to tax-efficient estate planning.
Cash Flow Planning
When it comes to retirement planning, cash flow planning plays a pivotal role in enjoying a comfortable and stress-free retirement. We work with you to analyze your current spending and savings habits, identify and manage any debt, and develop a spending plan that allows you to maintain a lifestyle that aligns with your retirement goals without compromising your financial stability.
If you’re looking for a financial partner who specializes in retirement planning, we at Rand Financial Planning invite you to schedule an introductory call online or reach out to us at 908-895-2406 or firstname.lastname@example.org to see if we are the right firm to help you on your financial journey. We are located in Flemington, New Jersey, but work with clients throughout central and northern New Jersey, and eastern Pennsylvania, as well as others throughout the United States. We look forward to hearing from you!