Personal Financial Plan
At Spiritus Financial Planning, it is our intention to create an environment where you feel inspired by all the infinite possibilities life holds in store for you. Our holistic approach to financial planning provides you the capability to align your money and your life with your goals and values. It’s making an investment in your life today that will pay dividends for a lifetime.
Developing a personal financial plan offers you an abundance of benefits. At the top of the list for many is peace of mind. It’s when you feel the sense of accomplishment by reaching your long range goals that you’re able to look back and see the remarkable and powerful benefits having a financial plan has brought to your life - and with that comes peace of mind.
By using state of the art comprehensive financial planning software and choosing conservative assumptions, we simulate and model multiple what-if scenarios. Being able to distinguish and evaluate how these scenarios unfold ten, twenty or thirty years from now will provide you an essential element for making smart financial decisions today. This aspect of the financial planning process is often referred to as the science of financial planning.
The art of financial planning is focused on mind, body and spirit. It’s integrating your imagination, visualization, intuition, spiritual and core values into the design of a life plan. It’s stepping back, looking at the big picture and describing in rich detail how you desire your future to manifest. It’s a process of self-inquiry, self-reflection and goal setting that puts you in control of your life. It’s making sure your decisions around money truly reflect your core values.
Having a financial plan will provide you the guidance and self-confidence you need in order to make smart and responsible financial life decisions today. It’s a personal financial roadmap to your future. It’s how you turn your dreams and goals into reality.
Call or email us for a complimentary 30 minute consultation and discover how a Personal Financial Plan can benefit you.
Your Personal Financial Plan
Depending on the complexity of your individual situation, your personalized financial plan will include some or all of the following:
CASH FLOW
• Budgeting and cash flow analysis
• Cash flow projections
• Spending plans
• Debt reduction strategies
• Scenario analysis (moving to a larger home, staying home with a new baby, working part-time, starting a new job or business)
• Financial goals planning (i.e., college funding, retirement saving, home down payment)
NET WORTH
• Current net worth statement
• Net worth analysis
• Net worth projections based on various financial strategies
• Net worth yearly goals
INVESTMENTS
• Asset allocation and portfolio construction
• Portfolio review and re-balancing
• Specific investment advice (purchases, sales)
• Account specific advice (rollovers, consolidation)
• Education planning and funding
• Objective review of third party money managers
RISK MANAGEMENT
• Life and health insurance needs analysis; amount and type of insurance
• Disability, long term care and health insurance recommendations
• Current property and casualty insurance policy review (auto, homeowner’s, umbrella)
• Health insurance needs analysis for small businesses, including
• Health Savings Accounts (HSAs)
• Employee benefits analysis
TAX PLANNING
• Tax planning and projections
• Tax implications of various financial decisions (i.e. home buying, income changes, capital gains)
• Tax reduction strategies
RETIREMENT PLANNING
• Income and cash flow needs analysis
• Retirement projections and scenario analysis
• How much to save; what accounts to fund
• How to take distributions from qualified retirement accounts
ESTATE PLANNING
• Recommendations on estate planning documentation needed
• Wills/trusts review
• Tax minimization
• Asset accumulation and distribution
• Inheritance and legacy planning
SPECIAL PROJECTS
• Rental real estate
• Stock option planning
• Other projects as requested