Philosophy
We believe that all retirement planning activities are working towards a philosophical goal that we call the “Three S’s of Retirement – Success, Security and Satisfaction”. We strive to optimize Wealth Accumulation, Income and Advanced Planning where the ultimate goal is success, security and satisfaction in retirement.
Current and soon-to-be retirees are entering a new era of retirement challenges. U.S. domestic and global events such as COVID and political policy may continue to test conventional retirement wisdom. A fresh, more forward-thinking approach to retirement planning should be considered. Retirees may enhance retirement satisfaction by utilizing a comprehensive retirement management approach based on the principles of RST.
Process
Each new engagement starts with a consultative process that has been developed and refined over many years. This allows us to have an open dialogue in which we learn about every client’s values and goals while working with them to tailor a plan to help achieve them.
The diagram below illustrates the five steps we take with each new client. Prospective clients can enjoy a portion of this experience at no cost through our Second-Opinion Service.
Discovery
During the Discovery meeting, we will determine your investor type and life stage.
We categorize investors into two main groups
1. Wealth Builder
Wealth Builders are engaged in the activities needed to create financial independence. They are still working, saving and investing in various forms.
They have less financial capital but still have time value and human capital available. They are typically paying a mortgage, have financial dependents, and/or are funding college. Ongoing coaching is applied to increase the probability of success.
2. Wealth Preservers
Wealth Preservers have achieved financial independence and are seeking income with more stability of principle. They may have retired or are facing a liquidity event like the sale of a business or inheritance. They may still be working but not because they must – work is now an option. They have accumulated sufficient financial resources to provide a lifetime of spending needs. They may be interested in income guaranteed philanthropy and or family wealth succession and are looking forward to living the lifestyle they have dreamed about during their career.
Life stage – There are three stages of retirement and pre-retirement. We will determine where you are on the time spectrum and adjust the plan accordingly.
Apply the Retirement Satisfaction formula;
RS = IM + AP
Retirement Satisfaction = Investment/Income Management + Advanced Planning
If Wealth Builder
- Discovery – we take a deep dive into your life to learn about you.
- Perform Retirement Readiness Assessment.
- Perform Risk Assessment
- Use results to create a personal Investment Policy Statement, update savings and investment plans.
- Dollarized goal and work towards it.
- Monitor and meet on an agreed-upon timeline, update every year.
- Administer Advanced Planning Topics – Taxes, Insurance, Mortgage, College Funding, etc.
if Wealth Preserver
- Discovery – we take a deep dive into your life to learn about you.
- Perform Retirement Sustainability Analysis
- Perform Risk Assessment
- Use results to create a personal Retirement Policy Statement- adjust cash flow, investment portfolio, improve quality of income sources, etc.
- Monitor and meet on an agreed-upon timeline, update every year.
- Administer Advanced Planning Topics – Taxes, Estate Planning, Insurance, Longevity Planning, and Document Organization.