The goal of the Financial Dashboard Plan is to help you keep the same standard of living both now and in the future. Nobody wants to live lavishly today and run short later. Or the reverse, scrimping now for money you never get to enjoy.
That idea has a name. It’s called consumption smoothing.
To estimate the highest living standard your resources can sustain, we use the advisor version of MaxiFi® Planner software. This short video explains how consumption smoothing works.
We start by listening to your goals. Then we build multiple scenarios with you, trying different retirement dates, Social Security start dates, and lifespans. The aim is a strategy that supports a consistent, sustainable level of spending for the rest of your life.
After that, we update the plan regularly so you can see whether you’re on track as the years go by.
Financial planning is more than a budget. Once your information is in the plan, we have an estimate of your annual income and expenses. We use that to forecast your taxable income and look for places where some tax planning could help.
Good software is a strong foundation. But an experienced planner can see the bigger picture and help you spot the “gotchas” down the road.
Long-term care is one of them.
If you have a smaller estate, you may be relying on government programs. If you have a larger estate, you may be looking at an insurance policy. The two call for very different planning approaches, and we can help you work out the most affordable strategy for your situation. The one thing you don’t want is to become unable to care for yourself with no long-term care plan in place.
We don’t offer insurance and we aren’t affiliated with an insurance agency, but we can provide referrals on request. For more on the Medicaid side, see Medicaid Planning.
Over the years we’ve worked with hundreds of clients, and there isn’t much we haven’t seen. Reach out and we’ll talk about whether we’re a good fit.
