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The 6 Pillars of Financial Planning
Financial Position
Cash reserve strategies – debt. management – cash flow strategies
Net worth – discretionary income – expected large inflow/outflow – lines of credit
Protection Planning
Disability options – long-term care-timing/prem/coverage – umbrella liability – life insurance
Medical/health – property & casualty – deductibles vs. cash reserves – policy status
Policy loans – beneficiary designations – special needs situations
Alternate/add’l coverage strategies
Investment Planning
Asset allocation – education planning – lump-sum accumulation
Options/restricted stock/non-qualified deferred compensation – ongoing investment fees
Risk tolerance – tax implications – cost basis – timeframes – diversification strategies
Dollar-cost averaging – market timing issues
Tax Planning
Tax reduction – tax deferral – tax avoidance – future taxes due – withholding
Tax diversification - qualified investments – non-qualified investments
Effects of liquidation – filing status - Business ownership – non-traditional ownership
Retirement Planning
Minimum distributions – pre-591/2 strategies – 401Ks – IRAs – Medicare/Medigap
Social security – Roth conversions - Income streams – income streams-transitions
Health care – tax transitions – risk of tolerance transition – timing issues
Estate Planning
Estate balancing – capital transfer – asset ownership – trusts – wills – trust funding – IRD
Succession planning – special needs dependents – minor children – generation skipping
Short-term life expectancies – estate liquidity
* Neither New England Securities nor any of its affiliates, employees or representatives provide specific tax or legal advice. Please consult your legal or tax advisor for more information on these subjects. Security products and financial planning are offered through registered representatives and financial planners, respectively, of New England Securities Corp., a broker-dealer (member FINRA/SIPC) and a Registered Investment Advisor. Merrimack is a separate entity from New England Securities.
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