There are several ways to approach financial planning. Ours centers on your unique goals and values. How does that translate into a strategy? We use the CFP Board's 7 Step Financial Planning Process.
Our first blog introduced the idea of what a fiduciary advisor is and why it has been an integral component of the CFP Board since its inception. Today, we are going to discuss the other 11 rules that make up this 15-part system. Let’s get started!
Working with a fiduciary seems to be on any check-list for people in search of a new advisor, but what does being a fiduciary really mean and why does this designation affect you, the client?
Your finances are a deeply personal part of who you are. In order to reach your goals, you need to work with someone who understands what they are and has a clear vision for helping you get there.
We want to thrive in our environment and use the tools and resources we have to build a beautiful life. But there are many things that stand in our way. One element that has certainly proven itself a formidable opponent is the coronavirus pandemic. While we may still be weathering this storm, there is a way to bring light and life to your finances this year.
Married couples have a unique opportunity to create a Social Security plan that supports both people. This makes spousal and survivor benefits so important. Let's take a closer look at what these are and how they will impact you.
Social Security is an important part of your retirement plan. Our team at Step by Step will help you evaluate your needs and create a strategy that will optimize your goals both now and in the future.
Planning for your retirement income is an important process with many moving parts. There are different income channels that you will need to account for like your investment portfolio, designated retirement accounts, Social Security, and your pension benefits.
Financial conversations are ongoing. Establishing a foundation of trust, transparency, and honesty will help you both find the meaning and fulfillment you desire in your golden years. We are going to tackle 4 unique aspects of retirement planning today. Let’s start the conversation.
Retirement saving is an important and integral component of your financial plan. While there are many ways to save for retirement, one of the most popular and ubiquitous vehicles is a 401(k). Your 401(k) has allowed you, and your employer in the case of a match program, to facilitate and manage your retirement savings. But what happens to that money should you decide to change jobs?
Investments are important tools to help you reach your financial goals. There are many pieces that comprise your investment strategy and today we are going to talk about one that doesn’t receive a ton of attention but can have a big impact on your net gain: asset location.
There are so many things that change when someone retires and one of the factors that new retirees have a tough time managing is their changing cash flow. For so many years, they have been dedicated to putting money into their retirement accounts, but what happens when they have to take it out?
Resolutions come from a place of positivity and introspection. They are a catalyst for change but perhaps aren’t the most efficient vehicles to help us get there. This year, you can do something different. You can change your resolution into something that can help you make the change you wish to see: a goal.
Taxes can be confusing and stressful for many people, and we want to do what we can to alleviate that stress. We are passionate about the role that strong financial planning and accurate tax preparation play in your financial landscape and would love to see what these services can do for your finances.
Your charitable ambitions have helped guide your life from the organizations you support to all of the wonderful relationships you have sustained along the way and your passion for giving can also shine through as you plan for your legacy.
The giving of ourselves for the greater good, that is what charity is all about. Today, I’d like to explore a few ways that you can adopt a new dimension into your charitable efforts: your time.
Having transparency in your financial life when it comes to your emotions can help you better plan and execute a financial strategy that is centered around your values and priorities. Money will never stop being emotional and it is important to embrace those emotions, understand where they are coming from, and use them to make an impact on your life and the lives of those around you.
Charitable giving is an integral piece of life—something that we all should strive for 365 days a year. One thing that can help promote that spirit of giving is creating a plan for your charitable contributions throughout the year, and while there are many ways to do that, one that is becoming increasingly popular is the use of a donor-advised fund.
Many retirees want to maintain their charitable efforts, but don’t know where to start. QCDs are an excellent tool because they allow you to create a planned giving strategy in retirement. You are able to build-in a giving plan into your retirement budget which will help you be more consistent in your charitable efforts.
Once of the reasons that Step By Step Financial is a Dimensional Fund Advisor is DFA's focus on...