Meeting with an advisor at Wealth Distribution Strategies, LLC is all about you, our client. It is about developing a financial strategy that will assist you in meeting your goals. Whether you are just starting out and wanting to save for a new home or child’s education; or you are in the middle of your journey and wanting to plan for retirement; or you are already retired and want to make sure your investments are working for you, having a strategy is important. Here’s what you can expect from the advisors and staff at Wealth Distribution Strategies, LLC as we partner to develop your personalized financial strategy.
This meeting is designed for you to inform your financial advisor about your current situation and the lifestyle goals which you are working to achieve. At this meeting, we will use our data form to guide our conversation and make sure we have a good understanding of your goals and objectives.
Comprehensive Financial Analysis
This is an educational process which we organize in a binder to go through the many components of your analysis. The analysis includes:
Financial Profile – We review your lifestyle goals, income sources, insurance, benefits, investment accounts, and assumptions on taxes and inflation.
Asset Allocation – We review your current household allocation in comparison to a target allocation based on a Risk Tolerance Questionnaire. We also use Morningstar analytics to educate you on your current holdings and discuss strategies to reduce risk and/or enhance potential returns.
Retirement Goals – We help you determine if you are on pace to meet your retirement goals through three different methods, including a Monte Carlo Analysis. We also discuss how pensions, Social Security, other income sources, and taxes will impact your ability to have a successful retirement.
Distribution Process – One of the most overlooked expenses that people have in retirement are income taxes. We will help you understand the impact income taxes will have on your distributions from different types of investment vehicles.
Survivor Needs – Many people have life insurance, but do you have the correct amount? Based on your individual goals, we can help you determine an appropriate amount and type of insurance to best meet your needs.
Long-Term Care Needs – Have you considered how you may pay for expenses related to a long-term care experience? There are many different ways to approach this often overlooked retirement expense; we help you navigate the options.
Action Items – Strategies and ideas to enhance your situation are discussed. This includes potential investment allocation changes, Roth conversion strategies, and establishing a retirement income plan.