Do You Have a Plan?

When I meet with clients I often notice deficiencies. Yes, getting an Estate Plan is a great step toward protecting your family but it is not the only piece. I often recommend that my clients to go see a financial advisor.

There are many reasons that I might suggest that a client go see a financial advisor, which include:

1. You have minor children.

         If you have minor children then you need to meet with a financial advisor. Yes, you may have life insurance but is the amount you have enough? Maybe you have children and do not have life insurance. I could go into some horror stories here but at the very least you would want your spouse and children to have enough money to survive if the unthinkable happens?

 2. You are retiring.

           If you are retiring then, congratulations. It is now time to speak with a financial advisor. They will make a plan with you to make your investments and retirement income go as far as you need it. They will help you get into the best investments and types of accounts to save you taxes and keep your money from getting into the hands of the Government. Most of the time when people retire they could be:
operating without a goal, approaching retirement with oversized home costs, unaware of employer match for retirement accounts, choosing the wrong tax strategy, neglecting to consolidate multiple accounts which could lose money, or helping out kids/grandkids before saving for retirement.

3. You do not have a plan.

           If you are just letting your retirement accounts collect your money then you need to speak with someone that can help you create an investment/retirement plan. You do not have to buy their products or services but you want to know if you are on the right track for your goals.
Maybe the reason you do not go to a financial advisor is because you do not want to pay fees; however, your current investments and life insurance are already taking those fees, without any face-time or planning from a person that can help. Not every financial advisor is the right one for you. The characteristics to look for in advisor is that they are transparent, caring and have a Certified Financial Planner license, etc. I recommend, Sarah Davis, of Thrivent. Not only do I respect Sarah for always doing the right thing with my clients, but her and her company care for people. They donate hundred’s of millions dollars to charity every year.

Coastal Pacific Law attorneys are experienced in estate planning, and can help with your trust administration, probate administration, wills and trusts. To schedule a complimentary consultation, call (619)786-6563, or fill out a Contact Request Form.

This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact an attorney directly.