Your Financial Review – Three Areas To Be Addressed

A financial review should not be just about the performance of one’s portfolio. I know, that is all we really care about. But I would suggest that it is not the only subject to review. The following 3 subject areas need to be addressed as well.

Protection

• Deductibles on your property casualty coverages—can they be increased to save premiums?
• Liability limits on your property casualty coverages- do you have an umbrella? Are limits high enough to protect all assets?
• Disability insurance protection…at work or personally owned.
• Medical coverage, are you eligible for a health savings account?
• Have your social security benefits been reported accurately?
• Wills (trusts if appropriate) up to date with supporting durable power of attorney, medical POA, and Physician’s directive.
• Ownership arrangements…community property, separate property, joint tenants, tenants in common, transfer on death.
• Life insurance policies…is the amount adequate, are the policies performing as planned, term expiring, universal life policy soon to lapse.

Savings

A full discussion of interest rates and tax implications now and in the future.

• Cash accounts, bank savings, credit union, money market certificates of deposit
• Tax deferred accounts, annuities, college 529’s
• Tax free accounts-Roth IRA
• Tax deductible accounts- 401k, pension, IRA

Growth

Again, a full discussion of diversification, not only by asset class, but management style, fees and tax implication.

• Government, Corporate and Municipal bonds
• Utility blue chip stocks growth securities
• Collectibles, real estate, tax shelters

We are actively calling to schedule review meetings, if we have not reached out to you yet and you are ready to meet, feel free to give us a call today at 817-717-3812 and we can get your review meeting scheduled. We offer in person, conference call or Zoom meetings, which ever you prefer is fine with us. We are here to assist you in any way we can.