Net Worth Statement Before you set out on the road toward your financial goals, you must first gain an understanding of where you currently stand financially. The first section of your Stifel Wealth Strategist Report® – your personal net worth statement – serves as the starting point for your journey. By examining your liquid, investment, and personal assets, as well as your current liabilities, we’ll be able to help you develop an appropriate strategy for pursuing your financial objectives.

Risk Management Strategies There is always the possibility that unforeseen roadblocks can appear on the journey toward your financial goals. That’s where risk management strategies come into play. Your Stifel Wealth Strategist Report® will help you put a plan in place to help ensure that your family’s needs are addressed in the event of the loss of a wage earner’s income due to injury, illness, long-term care need, or death. It will examine whether or not your existing disability, life, and long-term care insurance coverage will be adequate in the event of a need and offer suggestions as to how much coverage you may need to preserve your income and assets.

 

Portfolio Creation Now that you know where your journey begins, it’s time to take a look at the different routes you can follow toward your destination. In this section, your investment objectives will be discussed and asset allocation alternatives will be presented. Your personal asset allocation – the percentage of investable assets distributed in stocks, bonds, cash, and alternatives – will be based on your financial goals, age, current and future income, and tolerance for risk. Asset allocation does not ensure a profit or protect against loss.

Education Planning The next section of the Stifel Wealth Strategist Report® will help you define your education goals, analyze your current situation, and identify a savings program designed to help you accumulate the funds needed to pursue your goals.  For example, the report will detail projected tuition and related expenses and offer a look at various savings vehicles that may help you reach your education savings goal.

 

Retirement Funding With your retirement goals and dreams in place, it’s time to see what’s waiting for you down the road. This section of the Stifel Wealth Strategist Report® examines all of your retirement income, including pension or other sources of income, personal savings, retirement plans, and anticipated Social Security benefits. Based upon this information and your retirement spending goal(s), an individualized financial picture will be created to assist you in preparing for and working toward enjoying your retirement years. By showing how inflation can affect your goals, you’ll have an idea of how much your accounts may be worth in your retirement years and how your assets will be used.

Estate Analysis Once you have reached your destination, you will likely want to preserve your wealth for future generations. Proper estate planning can help you minimize taxes and administrative expenses and help ensure that your assets will pass to loved ones and charities according to your wishes. Proactive planning can also ease the burden on your loved ones during a stressful period. Your Stifel Wealth Strategist Report® will illustrate the projected growth of your estate and examine the impact of taxes and other estate settlement costs. The report will provide information on common estate planning documents, such as wills, revocable living trusts, and powers of attorney, as well as estate planning strategies, such as credit shelter trusts and marital trusts.

 

You Can Get There From Here A solid plan is one of the most important factors in determining whether families and individuals can work toward their financial goals. Unfortunately, planning is time-consuming and complex. For that reason, many people never develop a plan and never reach their goals. The power to plan your financial future begins with the Tanner Wealth Management Group’s understanding of your goals and your financial resources. The Stifel Wealth Strategist Report® is designed to help control your finances and potentially reduce anxiety about your future, as well as the opportunity to enjoy the pursuits of your life.

Stifel does not provide legal or tax advice.  You should consult with your legal and tax advisors regarding your particular situation.