Cash Flow Planning
income. discovery. knowledge.
Our process begins with cash flow planning because that’s how people live their daily lives. Money comes into the household (income) and money leaves the household (expenses). How you manage that process will determine your success in creating the financial picture you want. Our cash flow planning is comprised of the following:
We analyze your income and learn about where your money comes from. Some clients may earn a regular paycheck, others may have a variable pay rate, and still others may receive most of their income through investments. Where your money comes from is important, as each source offers unique opportunities for tax efficiencies.
We look at where your money goes – your repeat expenses, variable purchases, and overall savings rate. An in-depth look at your expenditures tells us what matters in your day-to-day life, and how we can better prioritize your stated goals.
Ideally, your income will be more than your expenses. That extra income is the fuel used to produce additional growth through investments. If that’s not the case, we’ll suggest ways to get you net positive.
Income changes and expenses fluctuate. That’s why we regularly update your cash flow. It allows us to stay abreast of the developments in your life and continually uncover new ways to plan for your future success.
Income Tax Planning
efficient. strategic. prepared.
The second part of our three-pronged service model is a holistic review of your assets, and more specifically, the tax implications of those assets.
It starts by analyzing your previous tax returns. What did you owe? Did you itemize, or take the standard deduction? What opportunities were potentially overlooked, or not taken advantage of?
The most common opportunity we find is tax-efficient investing. That is analyzing your investments, deposits, and account types to help ensure you receive all of the tax breaks available for you. Each individual break may be small, but together they can add up to huge savings for you and your family. So instead of paying the IRS, you can reinvest that saved money to further your financial goals.
We’ll review your tax implications each year to adjust allocations in accordance with the latest tax law. As things change, you’ll still be prepared with an updated tax-efficient strategy.
holistic. ongoing. everlasting.
Your cash flow is projected and your investments are optimized in accordance with current tax law. Now that your financial foundation is secure, it’s time to look to the future.
Our primary goal is to help ensure you have money for the future, whatever that future could be. We start with exploring your goals for now and throughout retirement. What do you want to do? Focus on your hobbies? Travel? Dote on children and grandchildren? Give back to charitable organizations?
We’ll help you explore options and create a list of your goals. Those goals will typically have a financial component. For distant goals, we can estimate the cost and prepare a savings and investment roadmap. For goals in the near future, we can identify how to accomplish them using your existing assets.
Note that your financial plan is never fully complete. As you mature and we accomplish goals, new ones may come to the forefront, such as estate and long-term care planning. Our financial planning will cover your entire life – from your working years, to retirement, and into the next generation.
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Grand Financial Advisors
130 South Bemiston Avenue, Suite 508
Clayton, Missouri 63105