Lotus Financial Planning
Creating a Long Term Comprehensive Financial Life Plan
Long term comprehensive financial life planning is a simple idea: it is the matching of your long term goals with your resources. We won't make you rich; that's your job. But we will do everything we can to make sure that you are never poor.
We will prepare a long term comprehensive financial life plan for a flat fee of $3,000, payable at the beginning of the engagement. We will cover tax planning, estate planning, insurance planning, investment planning, and whatever else comes up that impacts your long term financial security. It's a very holistic approach.
The centerpiece for most people is the retirement income projection. We put your future on our "crystal wall" and, by examining how various actions impact the achievement of your goals, come up with a plan that, if properly implemented, has a high probability of success of achieving your goals. Think of it as a road map. You tell us where you want to go; we create a plan that has a high probability of getting you there. For most people, "there" is enjoying life without any fear that they will run out of money before they run out of life. Or phrased another way, "there" is your long term happiness.
The whole process involves at least two, but often more than two, meetings. In the first meeting we identify your goals and values. We will ask questions. We will listen. We will make you think. We will learn what makes you happy and what makes you afraid. We will look at the last page in your book.
In the second meeting we examine your resources and present suggestions for improving the odds that your resources and your goals match. We will suggest ways to increase your resources. But we might also suggest that you look carefully at your goals. Retiring early and seeing the world in 5-star hotels might not be realistic.
If necessary, we will have additional meetings to make sure that your plan is being implemented. If selecting a money manager to implement our investment recommendations is part of the plan, Kevin will meet with you to explain our recommendations and your options. If creating an estate plan is part of the plan, one of us will attend your first meeting with the estate planning attorney to make sure that the estate plan is consistent with the financial plan.
We would be happy to explain the process and the benefits in greater detail in a free "meet & greet." Just send us an e-mail if you would like to do that.
If, after careful consideration, you want to move forward with the process, I will send you an engagement letter and some questionnaires to get us started. Sign and return the engagement letter to us, answer and return the questionnaires to us, set up a date and time for the first meeting, and then give yourself a round of applause and a big pat on the back for taking control of your future.
Thanks!
Jim
PS A few illustrations for your enjoyment: