What To Do When Your Income Reaches 7 Figures
Preserve your high net worth with these foundational tips.
Investment Planning
- Nitrogen Risk Tolerance and Risk Capacity Assessment
- Review of Portfolio
- Asset Allocation
- Time Horizon
- Withdrawal Strategies
- Investment Policy Statement
- Dollar Cost Averaging
- Product Research
- Rebalancing Strategies
- Stock Concentration
- Review Investments Held Outside of the Firm
Cash Flow and Budget
- Income Sources
- Expenses and Budgeting
- Debt Management
- Financing Strategies
- Major Capital Purchases
- Emergency Funding
- Mortgage Review
- Lines of Credit
Retirement Planning
- Retirement Vision
- Retirement Needs Analysis
- Retirement Funding Solutions
- Identifying Income in Retirement
- Employer-Sponsored Plans and IRAs
- Contribution Limits Planning
- Rollover Transition Assistance
- RMD and 72t Calculations, Explanations and Strategies
- Annuities and Pensions
- Employer Plans vs. Self-Directed Plans
- Accumulation and Distribution Strategies
- Social Security Optimization
- Medicare Planning
- Retirement Plan Stress Testing
- Self-Employed
- Business Planning
- Education on Various Retirement Plans
- Coordination of Retirement Plan Services
Risk Management and Insurance
- Risk Exposure Analysis
- Planning for Unforeseen Risks
- Review of Existing Policies
- Education on Types of Insurance
- Survivorship Income Planning
- Life Insurance Planning
- Policy Loans
- Disability Income Needs
- Long-Term Care Strategies
- Health Insurance
- Property & Casualty Insurance
- Umbrella Coverage
- Business Liability Review
- Cyber Risk Awareness
- Asset Allocation, Diversification and Securities Research
Estate Planning and Charitable Giving
- Generational Wealth Transfer Scenarios and Strategies
- Guidance on Sources of Estate Liquidity
- Explanation of Estate Planning Structures/Documents
- Explanation of General Taxation Issues of Trusts and Estates
- Explanation of Types and Treatment of Trust Income
- Guidance on Ownership and Titling of Assets
- Beneficiary Audit and Designation Planning
- Purposeful Planning
- Estate & Gift Tax Analysis and Planning
- Intra-family Loans
- Gifting Strategies
- Charitable Planning Strategies
Assistance to Loved Ones
- Education Planning
- Caring for Elderly
- Special Needs Planning
- Gifting Strategies
Income Tax Planning
- Asset Location
- Cost Basis Review and Analysis
- Tax Diversification
- Tax Law Changes and Projections
- Itemized Deduction Review
- Optimal Tax Strategies
- Deductible Retirement Contributions
- Tax Aware Investing
- Tax Loss Harvesting
- Provisional Income Planning
- Deductions and Credits
- Roth Conversion Strategies
- Health Savings and Flexible Spending Accounts
- Tax-free Income Planning
- Qualified Charitable Distributions
- Employee Stock Options Basics, Planning Strategies
- Tax Implications of Various Stock Plans
- Non-qualified Deferred Compensation Programs
- Income Taxation of Life Insurance and Annuity Products
Ongoing Financial Planning
- Account Aggregation Maintenance
- Updated Investment and Plan Assumptions
- Semi-Annual Financial Plan Updates
- Life Event Updates
- Client Progress Reporting
- Financial Document Storage and Organization
- Updating Tasks, Client Notes and Next Steps
- Implementation of Plan Strategy
- Education of Financial Concepts
Business Planning
- Cash Flow Analysis
- Cash Management
- Employee Benefits Planning
- Business Use of Insurance
- Financing Strategies
- Intra-family and Other Business Transfer Techniques
Executive Compensation Strategies
- Deferred Comp Funding and Distribution
- Stock Option Analysis
- Tax-Efficient Exercise and Vesting Strategies
- Risk Concentration Strategies