Cash Flow Planner

It's been my experience that waiting until you have money means a person will likely never have money. It's like saying "I'll go to the gym once I get into shape". Working with a financial advisor helps build the financial literacy and good money habits that increase the chances of reaching your goals sooner than you would on your own.

Great question. I don't charge a fee for my services unless clients are requesting a customized plan, like a business succession strategy or estate conservation. Because of this my fee is based on two things: if find there is a gap in your finances that can be filled with a specific solution (like an insurance or investment tool), I would expect you purchase that through me and I'm compensated from the carrier I broker the business with in the form of a commission. The second way I get paid (and more valuable to me) is if you feel the advice I provide is helpful, I'd expect you would help me expand my practice by introducing me to other people you feel could benefit from my services. But that's only at the end and only if you are satisfied. Other than that there are no costs to you to work with me.

If your compensation package is sufficient for all your financial needs, I'll be the first person to say "Congratulations, you're all set." However, it's rare to find a benefits plan so comprehensive that is satisfies all the needs of a family. Keep in mind that work benefits can often be changed (or cancelled) by the employer and you often have to leave the benefits behind (except for any vested pension) if you leave. Many of my clients chose to complement their work plans with their own personal strategy.

Mortgage insurance from the bank is better than nothing but be aware that it's "creditor" insurance only. This means that if you die, the balance of the mortgage gets paid to the lender, not the surviving spouse (if it pays out at all). The best-case-scenario is that the mortgage is paid off but there are no additional funds for final expenses, emergency savings, education plans or even some income replacement while the family tries to get back on it's feet. Personally held life insurance has a level benefit that goes directly to the beneficiary tax-free and the premiums are often lower than mortgage insurance.

Retirement means different things to different people. The way I ask my clients is, "When do you want to be in a position to choose to work because you want to, not because you have to?" The Gaining Altitude program will take all your sources of income and build a projection of assets at the age you select. Then we will know if you have enough money to support your desired lifestyle for the rest of your life. Of course, a plan is built on a number of assumptions like expected earnings, stable expenses and no changes in health, family, lifestyle or even an early death. As your life moves forward, we review the plan on a regular basis to see if anything needs to be adjusted.