WHO REALLY NEEDS A FINANCIAL PLANNER?

Managing money is a survival skill, and unless you've got enough to throw it into the wind... you might need some help.

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People initially come to Zora Financial for a host of reasons, but here are a few common client concerns we solve. (See more on the website under services >> Personal Planning.)

1.     I WANT AN OBJECTIVE OPINION ON PREVIOUS ADVICE OR PRODUCT SALES

  • Is permanent life insurance appropriate?
  • Are my investment allocations optimal?
  • I want a more customized approach to financial decisions versus the advice from mainstream financial gurus.
  • Should insurance be used as an investing tool?
  • What is a variable or indexed annuity, and is it appropriate for my situation?
  • There has to be more to financial planning; why did I only get offered products?

2.     I WANT TO GET STARTED ON THE RIGHT FOOT

  • How should I prioritize debt and savings?
  • Which IRA or savings vehicle should I choose?
  • What insurance coverage is needed?
  • How can I take full advantage of employee benefits?
  • I need help budgeting. (We stay out of your personal spending unless it is an issue you want us to address)
  • I am interested in evidence-based investment strategies and management.
  • How do I invest and save tax-efficiently?
  • How do credit scores actually work?
  • Which other professionals do I need at this point in my life?

3.     I AM CHANGING EMPLOYMENT

  • What do I do with old retirement plans?
  • I need advice on evaluating job offers.
  • Are the employee benefits adequate for my needs?
  • Should I go with my new employer’s retirement plan?  If so, how much should be contributed, and what do I do with the excess?  If not, where should I be investing and saving?

4.     I AM RETIRING (WHETHER FORCED OR VOLUNTARY)

  • What is the best way to structure my retirement income? (How much can be withdrawn? From which accounts? I want someone to manage my investments.)
  • What is the best way to structure Social Security and/or Medicare?
  • What are my pension withdrawal options?
  • What will retirement look like? (We can run multiple scenarios to see the impact different variables make on each client’s plan.)

5.     I AM RECEIVING A WINDFALL (INHERITANCE, GIFT, LEGAL SETTLEMENT OR ANY OTHER TYPE OF LUMP SUM)

  • How does this change life?
  • How will it fit into my plan?
  • How much should be invested, and how will it be managed?
  • What can be done about taxation?
  • What are the withdrawal options?

6.     I WANT TO PURCHASE OR REFINANCE A HOME

  • Is it time to purchase, or should I continue to rent?
  • Do the current interest rates combined with expenses necessitate a refinance?
  • What are some of my options when it comes to loans?
  • Should I pursue private or public lending?
  • I need a referral to a mortgage broker or bank.

7.     I AM TIRED OF EVERYTHING BEING SPREAD OUT AND COMPLICATED

  • How can I be more organized?
  • I want to have one firm manage everything in a holistic fashion making it easier to understand.
  • Should I have a professional comb my accounts and re-evaluate?
  • How can I build portfolios across multiple accounts to reduce cost and redundancy?
  • I want to have one point of contact for everything.

8.     I WAS RECENTLY WIDOWED OR DIVORCED

  • What do things look like going forward?
  • How should my accounts be titled?
  • What should I consider when I am creating a new cash flow plan?
  • I need help re-evaluating employee benefits and insurance needs.
  • How can life insurance proceeds be utilized?
  • How should inherited assets be transferred?
  • What Social Security options do I have?
  • How should I restructure my estate plan?
  • Are there legitimate credit rebuilding and repair options?
  • Help me with asset allocations and management.

9.     I AM ENGAGED OR RECENTLY MARRIED

  • How should our accounts be titled?
  • Are we properly integrating employee benefits and insurance?
  • Where do we start on creating an estate plan?
  • We need to determine whether or not to combine finances and build creative strategies to do so.
  • We want a professional to foster an environment of financial conversation.
  • How much do we need to save and in which accounts?
  • How do we combine goals and risk tolerances?
  • How should debt payment and investing be balanced?

10.     I AM NOT ACCEPTED OR UNDERSTOOD BY OTHER ADVISORS

  • What if I do not want to retire but want to take a hiatus at some point?
  • How can I balance my lifestyle with work and what are the trade-offs involved?
  • How should entrepreneurs balance public investing, taxes and their company?
  • What are the tax ramifications for same-sex couples?
  • We need to determine whether or not to combine finances and build creative strategies to do so.
  • How should we shape our estate plan?
  • How should we structure healthcare?
  • What are the options for Social Security?
  • How do we arrange our employee benefits?

Do any of these scenarios sound familiar? Click here to schedule a no obligation, no cost meeting with me today to find out how Zora Financial can serve you.


My next blog topic: WHAT IS HOLISTIC FINANCIAL PLANNING? I will discuss Zora Financial’s view on financial planning versus the way the majority are using it... I hope to show you how different we really are!