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Financial Planning - Financial planning is a thorough evaluation of your current and future financial state by using known variables to predict future cash flows, asset values and drawdown plans. The key aspect of financial planning is that through the planning process, all available information is considered as it impacts your entire financial life.
Investment Management – Investment options can be confusing! Engage provides support and continuous advice regarding your investment options based on individual needs. Through consultation, we discuss goals and objectives based on your particular circumstances. Engage develops your personal investment plan with an asset allocation target and manages your portfolio based on consultation with you.
Cash Flow and Debt Management - Sometimes we all need a little help understanding where our money is going. We will conduct a review of your income and expenses with advice on prioritizing how any surplus should be used, or how to reduce expenses exceeding your income. Advice such as which debts to pay first can be invaluable. We may also recommend an appropriate cash reserve for emergencies and other financial goals, along with a review of accounts (such as money market funds, certificates of deposit) for such reserves, plus strategies to save desired amounts.
College Savings - Engage Advising can help you project the amount needed for college or other post‐secondary education funding goals. Recommendations as to savings strategies are included, and, if needed, we will review your financial situation as it relates to eligibility for financial aid or the best way to save for education.
Employee Benefits Optimization - If requested, Engage will provide you with a review and analysis as to whether you are taking the maximum advantage possible of your employee benefits. For business owners, we will consider and/or recommend various benefit programs that can be structured to meet both business and personal retirement goals.
Estate Planning - This usually includes an analysis of your exposure to estate taxes and your current estate plan. Do you have a will, powers of attorney, trusts and other related documents? Which, if any, do you need? Our advice typically includes ways for you to minimize or avoid future estate taxes and prepare for end of life issues.
We are not attorneys and always recommend that you consult with a qualified attorney when you initiate, update, or complete estate planning activities.
Financial Goals - We will help you identify financial goals and develop a plan to reach them.
Insurance - Review of existing policies to ensure proper coverage for life, health, disability, long‐term care, liability, home and automobile.
Investment Analysis - This may involve developing an asset allocation strategy to meet your financial goals and risk tolerance, providing information on investment vehicles and strategies, reviewing employee equity grants (stock options, employee stock purchase plans, etc.), as well as assisting you in establishing your own investment account.
Retirement Planning - Our retirement planning services typically include projections of your likelihood of achieving your financial goals, focusing on financial independence as the primary objective. For situations where projections show less than the desired results, we may make recommendations, including those that may impact the original projections by adjusting certain variables.
If you are near retirement or retired, advice may be given on appropriate distribution strategies or reallocation of investments to minimize the likelihood of running out of money or having to adversely alter spending during your retirement years.
Risk Management - A risk management review includes an analysis of your exposure to major risks that could have a significantly adverse effect on your financial health, such as premature death, disability, property and casualty losses, or the need for long‐term care planning. Advice may be provided on ways to minimize such risks and about weighing the costs of purchasing insurance versus the benefits of doing so and, likewise, the potential cost of not purchasing insurance (“self‐insuring”).
Tax Planning Strategies - Taxes, taxes, taxes! Engage can review your situation and provide advice on ways to minimize current and future income taxes as a part of your overall financial planning. For example, we may make recommendations on which type of account(s) or specific investments should be owned based in part on their “tax efficiency,” with consideration that there is always a possibility of future changes to federal, state or local tax laws and rates that may impact your financial situation.
We recommend that you consult with a qualified tax professional before initiating any tax planning strategy. We will participate in meetings between you and your tax professional with your approval.