What does it mean to “Help You Live a Wealthy Life”
“Living a wealthy life” involves balancing your needs for today with achieving your dreams for the future. This requires planning the interactions between your ability to earn, desire to save and amount of risk you are willing and able to accept. Once we understand your vision for the future, we will work with you to develop and implement a plan. A sound strategic plan clarifies the linkage between today’s choices and future goals; simplifying and informing daily financial decisions.
What We Do
Our Investment Philosophy
All investing is for a purpose. You may want to save for college for your children, put an extra room on your house, buy a lake house, or have a great retirement. The time frames associated with each of these objectives as well as the number of payments needed help determine the level of risk you could be willing to take. Do you need a single lump sum or a steady stream of income that has the potential to grow with inflation? Once we have defined the goal, we can define the strategy.
First, we define an appropriate level of risk given your goals, assets, personal history, and thoughts on investments. Achieving your goals is important, but so is comfort with the process and sleeping soundly at night.
Second, is a focus on Asset Allocation—strategically positioning your investments across different asset classes to help manage risk and enhance returns. A wide world of potential investments exists, from domestic companies to emerging markets, with larger established companies and smaller companies with exciting prospects. Adding in bonds and commodities creates a diverse world of investments with unique characteristics. Often events will affect investments differently with some benefiting as other fall or simply not impacted at all. By carefully considering your goals, time horizon, risk tolerance, and our economic outlook, we seek to build a diverse and supportive portfolio.
Finally, markets move up and down over time. We do not just passively ride the wave. Instead, rebalancing the portfolio on a routine basis can result in capturing gains from winners and investing in other areas of the portfolio, potentially poised for a rebound. We also update our Asset Allocation as our economic views shift*.*Rebalancing and diversification do not guarantee a profit or protection against loss.
A distinction of Flodder Financial Group is our dedication to effective, straightforward communication and creative problem solving in addition to spending time with clients building long-term relationships. Every family is different, we strive to understand your unique needs and aspirations as we work together to help you achieve your goals not just for the short term, but over a lifetime.
It’s our vision to work alongside you as a trusted professional as you plan for your financial success. Life does not always go as expected and our needs can change. We will be by your side for those moments and help adjust back to the path to your financial destination. The flexibility to respond quickly as personal circumstances or market conditions change is critical, and we will be there to help you navigate these situations.Getting to Know You
You come to the table with an understanding of your hopes, dreams, fears and uncertainties. We come to the table with many years of planning experience, strong financial credentials and a wide range of possible strategies. Our goal is to understand how you got here, where you are headed and to ensure that you know which strategies make sense to help you move forward in achieving your financial goals.Our planning begins with 6 questions, covering the following topics:
- Retirement Goals and Savings
- Cash Flow
- Wealth Preservation / Estate Planning
- Risk Management
- Accumulating for the Future
- Tax Strategies
These questions have been crafted over many years to enable us to look at the breadth of your financial situation. We can identify your strengths and your gaps, if any, and then help you utilize your strengths to fill your gaps.Building A Plan
We carefully analyze our discussions to assemble a financial strategy for you, resulting in a recommendation letter and financial analysis. We define a basic framework and strategy for the rest of your life. Then focus on specific areas of strength or concern with recommended next steps. Finally, we summarize specific recommendations designed to “Help You Live a Wealthy Life.”Implementing Your Plan
Once the path is defined, we work with you to methodically implement the plan. Opening accounts, transferring assets, obtaining insurances, and implementing estate plans while carefully considering tax strategies forms the foundation of our relationship.
Planning Your Estate
You know the old saying “you can’t take it with you.” However, you’ve worked hard to create your wealth and you can determine where your assets go and have a streamlined plan in place to ensure it happens. Your needs for sound legal documents for the matters of your estate are essential to ensure your assets are distributed to your intended beneficiaries in a tax efficient manner.
Working in conjunction with your legal and tax advisers, we can provide you with guidance and help you develop a plan to ensure you leave the legacy you desire, while mitigating the effect of changing estate tax laws.A few basics to consider taking care of:
- A properly constructed will that is appropriate for your type of assets and net worth.
- Beneficiary statements coordinated with your will to ensure that the will can fulfill its designed purpose.
- Custodial designation for the care of children under 18 and their assets as well as a strategy for a timeline of gaining access to their wealth.
- Living documents to enhance your quality of life, including but not limited to:
- Durable power of attorney
- Medical power of attorney
- Directive to physicians
With proper planning, we can help determine which of these strategies best fits your needs.