Sample Solutions: The Seven Basic Areas
CASH FLOW MANAGEMENT
• Restructuring Mortgages*
(Video Part 1) | (Video Part 2)
• Home Finance Strategies
• Debt Elimination Planning
• Determine Liquidity Needs
• Identify Cash Reserve Alternatives
• Identify Where Money Is “Disappearing”
• Securing Important Financial Information
• Strategies For Credit Card Use/Management
• Strategies For Financing Major Purchases, Such As Automobiles
*(Click Restructuring Mortgages Part 1 & 2 to watch video and/or view a print version)
INCOME AND ASSET PROTECTION
• Clarify “Need vs. Luxury” Insurance
• Identifying Which Insurances Are Necessary
• Identifying How Much Coverage Is Needed
• Evaluate Cost-Effectiveness of Current Coverage
• Determine the Most Ideal Type(s) Of Coverage
• No or Low- Load Life Insurance Recommendations
• Recommend Optimal Property & Casualty Coverage
• Recommended Medical & Long Term Care Coverage
EDUCATION PLANNING
• Identify Projected Cost Of College
• Determine Financial Aid Qualification
• Evaluate Gifting Strategies For Education
• Provide Effective Strategies For Funding Education
• Prioritize Education vs. Other Financial Objectives
• Use Of 529 Plans, UGMA/UTMA Accounts, Grants, Scholarships, etc.
INVESTMENT STRATEGY
• Clarify Investment “Risks”
• Analyze Current Investments
• Identify Ideal Investment Vehicles
• Evaluate Current Investment Strategy
• Compare Current Strategy Limitations vs. Ideal Strategy
• Establish Most Appropriate Types Of Investment Accounts
• Identify Proper Liquid and Non-Liquid Investment Balance
• Incorporate Socially Responsible Objectives With Investments
• Research Most Cost-Effective/Tax Efficient Transition Strategy
• Discussion Of Taxable, Tax Deferred, and Tax-Free Investments
• Clarify Appropriate Balance Of Account Types & Asset Proportions
• Provide Understanding Of Current and Recommended Investment Expenses
TAX PLANNING
• Itemizing vs. Standard Deduction
• Manage Capital Gains and Losses
• Roth IRAs and Roth Conversions
• Most Ideal Withholding Strategies
• Estate Tax Minimization Strategies
• Minimizing Tax Impact of Investments
• Maximizing Tax Benefits of Mortgages
• Best Use Of Fixed & Variable Annuities
• Maximize Current & Projected Tax Benefits
• Determine Current & Projected Estate Tax Liability
• Identifying Ideal Use of Tax Deferred Accounts, such as IRAs, Roth IRAs, and 401ks
RETIREMENT PLANNING
• Determine Ideal Investment Amounts
• Required Distribution & Withdrawal Advice
• Career, Work & Social Security Tax Advice
• Calculate Projected Retirement Income Needs
• Social Security Income Calculations & Timing
• Determine of Ideal Amounts to Invest for Retirement
• Identify Most Suitable Investment Vehicles For Funding
• Determine Ideal Retirement Account Distribution Strategies
• Current & Future Company Sponsored Benefits Decision Making Advice
ESTATE PLANNING
• Appropriate Gifting Strategies
• Advice On Bequeathing Assets
• Clarify Types & Use Of Various Trusts
• Desirability Of Revocable Living Trusts
• Projection Of Estate Settlement Expenses
• Life Insurance & Estate Planning Options
• Minimization Of Estate Settlement Expenses
• Identify Appropriate Estate Planning Documents