Comprehensive Financial Planning & Wealth Management

Build wealth so you can live well.

Financial success is more of a journey than a destination. Are you at the beginning of your journey, down the road a bit, or are you planning to exit your business for a new path? Click below where you are so we can guide you on your way.

20’s, 30’s, 40’s….doesn’t matter. Your journey begins when you decide to get serious. Now you need a map.

You’ve been working, saving, and investing for awhile now. It’s time to take things to the next level.

How exciting and scary this can be, all at the same time. You’ve got this!

Our Featured Posts

We’re Never Ready but That’s Okay

| Financial Planning, Investing, Security | No Comments
Were you completely prepared for this? Was your family, your business, or your investment portfolio? I know I wasn’t completely prepared. How could I have been? The current crisis is…

A Life Lived

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You have never heard of any of my heroes, so naming them by name is unimportant. Besides, my hero’s are not interested in the publicity.   My hero’s lead quiet…

Calling It: The Exciting Day When Financial Independence Just Happens.

| All, Financial Planning | No Comments
"I think we're going to be able to call it.", Austin says as we review our client's financial plan and assets on the big screen in my office. We've been…

You Want Financial Independence? Here’s the First Step

| All, Financial Industry Regulation, Financial Planning | No Comments
Only a very small percentage of American's will ever experience financial independence. Why? Because just being successful in our professional careers is not enough. We have to know how to…

Beginning Your Journey

Meet the Millers. Joe and Sara met at the large local technology company where they both worked. Joe tripped over a cord in front of Sara’s cubicle. She laughed, he turned red, and next thing you know, they were married.

They bought a house. They got Sissy the Golden Retriever. Then Justin came along, followed by Taylor, and very shortly after came little Joey.

Life is wonderful and full of joy for the Miller’s. But it’s also very, very busy. Between work, kid activities, social, church, and civic responsibilities, there’s just not enough time for everything.

Sara and Joe know that putting three kids through college is going to require savings, and they try to save what they can. Will it be enough, they wonder?

Joe contributes to his 401(k), but he’s not sure if it’s invested the right way. And Sara has an old 401(k) hanging out there somewhere. She just can’t find the time to get it handled, and she is not sure what she should do with it anyway.

Retirement doesn’t seem as far off as it used to. Joe and Sara have a lot of unanswered questions around what they should be doing here. It’s kinda scary to think about, so they try not to.

They know they need wills done, but don’t know where to start or how. Sara and Joe bought life insurance years ago. Is it the right amount or kind of coverage? Their agent was a nice guy, but seemed more interested in closing the deal than helping them understand what they were buying, and they haven’t heard from him since. What if something happens? Another scary thing they try not to think about.

All of these loose ends are creating some stress. This is not how they operate or who they are, but Sara and Joe feel a little isolated and stuck with nobody to talk to about these issues and are not sure who can help.

Well, we can help. Sara and Joe are not alone. As a matter of fact, their situation is very common. The stage of life they are in is fulfilling but extremely challenging. There are critical financial actions and decisions that need to be made and implemented, all while it feels like you’re barely treading water.

Are you in this stage of life? If so, after a short initial series of meetings, Austin and I can provide you with a clear picture of where you stand and help you decide what needs to happen.

And it doesn’t stop there. We stay right there with you, assisting and guiding you. Before long, you’re not worried anymore about the kid’s college funds, retirement, investing, or even an untimely death.

It’s all handled and you are squared away, so you can be present and enjoy this incredible stage of life that only comes around once.

Be there. Live it. Let us help by scheduling a call with us now.

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Down The Road A Bit

Meet Bill and Susan Porter. Bill is an engineer at a local manufacturer and Susan is a high school teacher. Both of their kids have graduated from college and started their own careers. Over the years they have remained busy, primarily focused on their careers and kids. Now, things are starting to slow down a little.

They took a big cruise last summer through New England and down the St. Lawrence river into Canada. Just the two of them for the first time in a long while. It was a lot of fun, and they want to do more of it.

Financially, Bill and Susan are very comfortable now that the kid’s college expenses are over. They both have pensions, Bill has a nice 401(k) balance, and Susan has contributed a small amount to a 403(b) for many years.

Susan loves teaching, but things have changed over the years in public education that frustrate her. She is ready to retire.

Bill still enjoys what he does for a living but wants more time to devote to his hobbies and travelling with Susan.

All of a sudden, retirement seems real for the first time. They are excited, but there is also anxiety surrounding the many financial decisions they now need to make.

Bill and Susan have a general idea how much they will receive in pension income and when, but the choices between different payout options seem complicated and daunting. They don’t want to make any mistakes here.

Other teachers have talked about complications surrounding Teachers Retirement System (TRS) and Social Security offsets and reductions. They wonder how these rules affect them and what the best strategy will be for drawing Social Security.

They are unsure about what their options are for medical insurance and Medicare, or how much it will cost.

And their insurance agent is recommending they purchase Long Term Care insurance. Do they really need it and if so, what plan options are important?

Bill feels like he has done a good job managing his 401(k) investment choices and other investment accounts, but is unsure how to safely invest going forward once they start drawing income. Also, Susan has never been interested in any of the investment decision making, so Bill worries about who would help her if something happened to him.

It seems like just when life should start becoming simpler, the financial decisions get harder. They don’t want to go it alone. Bill and Susan want to discuss these things with somebody.

We can help.

The issues and decisions Bill and Susan are dealing with are complicated, but we deal with these things all of the time. Through our processes, Bill and Susan will better understand their choices so they can make sound decisions about their retirement. We’ll make recommendations based upon detailed projections and analysis, and it won’t stop there. We’ll be there throughout their retirement to insure everything goes smoothly.

Are you in this stage of life? If so, congratulations! You have a lot of great experiences and fun to look forward to. Let us help make sense of the financial aspects so you can get started.

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Planning To Exit Your Business For A New Path

Meet Jim. Jim grew up in a small, North Texas town, graduated from TCU, married a local girl and has called Fort Worth his home for over 30 years now. The marriage didn’t last, but he has two twin girls and boy who all attended private Fort Worth Schools. The oldest just graduated from UT. The twins just started their freshman year together at SMU (ouch).

Jim started out as a banker, but when he was 32 he bought a manufacturing facility. Over the last 25 years, he has grown the business very successfully, moving out to a new facility near Alliance 10 years ago that he now owns free and clear.

Jim pulls a very nice salary and distributions from his company, but he spends it. In addition to a mortgage on a nice new home, he makes sizable payments to his ex-wife (had to buy her out of Smith Manufacturing two years ago), and has the twins tuition to deal with. Suffice it to say, Jim’s investable assets outside of his business are relatively low. It’s not uncommon for business owners to have a high percentage of their wealth tied up in their company. This is why it’s so important to carefully plan a transition that accomplishes your personal goals.

When considering a business transition, the most important question is not “how much can I GET for my business” like most believe. Rather, the most important question is “how much do I need”.

Take Jim. He’s spent most of his adult life building up his business. Along the way, life has brought good things, and some challenges. Regardless, this is where he is, right now, so we have to ask: “How much money does Jim need to get the twins educated, and live the rest of his days without Smith Manufacturing feeding his checking account every month?

Projecting cash flow needs into the future and matching those needs to income sources and assets, we can get a picture of what Jim needs out of the business. This important financial planning step cannot be skipped. You must know how much you need before figuring out how much you can get.

And this step also helps you figure out “when”.

It’s critically important to find the timing for a sale that best supports your personal financial goals. This puts you ahead of the curve and in a position to dictate your own terms instead of letting market conditions dictate the outcome.

If Jim sold today, he would probably get less. Why? Because he’s crossing the spread. Think of it as if you were selling your house this evening. Is it ready? How do the walls look? The garage? That plumbing issue in the guest bathroom? All of these things may cause you to sell for less than the actual value. In other words, to cross over to the buyer’s offer instead of the other way around.

But Jim is good with waiting because he knows steady income from the company will help defray college costs and pay down the note to his ex-wife prior to sale. He can use this time to clean up his balance sheet, analyze ratios, and make changes that will optimize the value of his business to a potential buyer. With the financial planning we completed for him, he has a target sales price to shoot for.

As a business owner, you have been setting and attaining business goals for your entire career. Don’t stop now. We can help you transition smoothly and efficiently into the next, exciting stage of your life.

It starts with a plan. Call us today.

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