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Not sure how financial planning could make an impact in your life? Below are three unique (and hypothetical) client situations to help show the decisions and questions that get addressed as part of the process:
Results: After going through the financial planning process, we set up a cash flow strategy to organize how his salary and commissions would be allocated based on his discretionary expenses and essential expenses.
On the investment side, we set up a low cost index fund portfolio so he could have an easy, low-maintenance way to build wealth over time.
He also started switching from a regular 401(k) to a Roth 401(k) as he still is unsure where his income will be with the side hustle that he will transition full-time. This split helps reduce the uncertainty of his future tax liability while still stashing away money for retirement.
Results: One of the first steps we took was combine their finances under one system and planning out how they would allocate their expenses based on their income.
Jerry liquidated his RSU’s to pay down his high interest debt and to rebuild his short term savings. This also helped reduced the amount of concentration that he desired into one company.
Laura was able to create an emergency fund personally AND for her business. From there, we set up a Solo 401(k) so she could maximize her own benefits and provide some deductions for the business.
For taxes, outside of the investment plan, they also able to take advantage of combining their finances after marriage to lower their overall tax bracket.
Results: After reviewing their full financial picture, we determined that it made sense for Tom to take advantage of his company’s ESPP to increase further income. Becky also took advantage of her company’s 401(k) match while lowering their income (from the pre-tax contributions).
We also reviewed potential life insurance coverage to protect their education, retirement, and debt goals. They also started contributing to their child’s financial future between a 529 plan and a brokerage account to offer flexibility.
For their home, we went through an analysis to determine if it was a right fit or to take the leap and move to a nicer home. With where their current cash flow was and their top goals, they wanted to first make sure their income was large enough to ensure they would not be financially trapped with their new home’s high price & high rates and as a result, they decided to wait until the time is right.
Given the size of their equity and property, they were also referred to an estate planning attorney to set up a trust and will.
The goal is you getting to us and us getting to know you. We want to make sure we are a right fit in terms of where our values align and the type of person you want to work with. This will be an opportunity understand if it makes sense to work with each other.
Schedule a Call with MaxWe dive into your goals and what you would like to accomplish in your lifetime. We’ll dive into your goals on a personal, professional and financial level.
During the process, we’ll want to organize all of your financial items all under one roof. This is an opportunity to establish your platform for your personal access and track your progress over time.
The blueprint will accomplish the following areas:
A snapshot of your current financial situation
Identifying each of the areas to analyze we’ll be working on
Establishing recommendations we will take care of now
The game plan moving forward:
We spend time with each other implementing the immediate action items
A financial plan is useless if it is never acted on and built upon. Throughout the process we will meet on a quarterly basis in addition to checking in when needed in between.
Each meeting will outline your progress over time with a one page quarterly snapshot.
The future of financial planning is here - a place where advice is the priority.
Talk with MaxPASHMAN FINANCIAL, LLC (“Pashman Financial”) is a registered investment advisor offering advisory services in California and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by Pashman Financial in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption. All written content on this site is for information purposes only. Opinions expressed herein are solely those of Pashman Financial, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to other parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.
