Independent Financial Planning

Financial Planning BluePrint

Quiz:  

What's the most important piece in building out a puzzle?

Most people when asked this question will reply "the edge pieces" or "the corner pieces". 

Answer (click)

Having a plan with the flexibility to deal with changes and life issues is critical.

We call this cornerstone of our planning philosophy the business plan for life.

​A business plan is based on cash flow and tax impact, rather than insurance and investments.  

Utilizing best in class technology we can deal with multiple what if scenarios at any point in time.

A plan for life is about setting financial goals, identifying obstacles, and creating checkpoints to address necessary changes along the way.   It is a process to help you make smarter choices with your money.

financial planning

The business plan for life considers all of your assets as a business and manages it with the same hands on scrutiny it takes to run a business successfully.

A plan can help you quickly identify the trade-offs involved and whether such information is helping you advance towards your stated goals.  With planning you gain awareness and clarity in decision making. You identify your blind spots and can better address and prioritize your decisions.

​"You must navigate by the stars not the lights of each passing ship."--Gen Omar Bradley


Financial Plan Maintenance

Whether it is asset management (investing money), liability management (mortgages, equity lines, etc.), protective strategies (life insurance, long term care, disability etc.), or legacy planning (wills, trusts, estate tax planning, etc.), we want our clients to be the most knowledgeable financial consumers they can be.

Each quarter we focus on a different topic. It is our goal to make the quarterly topic a starting point to open up discussions about the given subject. We believe that utilizing our Proactive Wealth Process will help put an end to procrastination and help create a disciplined approach to investing and planning. This process is designed to allow the client to rest easy knowing that it covers and addresses most aspects of one’s financial life.

Quarterly Review Cycle​

Jan - Mar​

Cash Flow

- How am I progressing on my Goals?

- Am I saving enough?

- Am I on track for my retirement date?

- Can I spend more money now?

- How is my risk level?  Too high or too low?

- Should I restructure my debt?

- Do I have enough for financial emergencies?

- What are the risks to my financial life?

Apr - Jun

Investment Positioning

- What is the optimal mix of investments for my situation?

- How do I change from where my investments are today to where I need to be?

- How should my retirement plans at work be invested?

- What are the tax implications to making changes in my portfolio?

- Is my record keeping adequate for my investments?

- Are there different types of investments that I should be considering?

Jul - Sept​

Estate Preservation

- Do I have an effective power of attorney in place?

- Do I need to re-evaluate my cash flow?

- What if I couldn't work anymore?  Am I prepared?

- What happens if I need custodial care someday?

Do I have the right amount of life insurance?

What are the risks to my personal property?

- When I die, will my assets trasfer simply to my heirs?

- What should I do with my workplace benefits?

Oct - Dec​

Tax Planning

- Are there year end decisions I could make to limit my tax liability?

- How can I effectively communicate my tax situation to my accountant?

- Should I take gains or losses this year or next?

- How should tax law changes affect my decisions?

- Am I using my retirement plans correctly?

- Should I try to accelerate or delay income and expenses?

- Are my investments tax efficient?

- Am I withholding enough?

Sherrill Wealth Management, LLC, Investment Management, Bradenton, FL
Certified Financial Planner Bradenton

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Need some Personalized Advice?

Contact us and we will be happy to point you in the right direction.  No bull.