Money is a means to an end, not an end in itself.

We believe priority should be given to identifying ways to enjoy it and use it as a tool to accomplish other life goals or objectives. For some, taking time off from work to travel or simply change gears for a while is top of mind.

For others, the ability to work differently, such as start a company, work in an entrepreneurial setting, or change industries, would be a dream come true. Often, all of these options are completely doable. The key is to work with an advisor to help you outline a clear picture as to what it will look financially and determine what works and what doesn’t.

Scenario Planning

We find that financial modeling of various scenarios (including stress testing) around life expectancy, investment returns, and income and spending assumptions, etc., can serve as an effective roadmap and help clients make big decisions with confidence. In addition to solving the money equation, it’s also important to think through and successfully navigate insurance coverage, tax withholdings, and logistics around cash flow from month to month during a work hiatus. Moreover, low-income years may present financial planning opportunities, such as taking advantage of Roth IRA conversions at low tax rates or reducing a concentrated stock position at more favorable capital gains tax rates. You’ll want to work with someone who is not only equipped to help you plan for the long term but also proactive year-to-year to help you take advantage of tax and other planning opportunities along the way.

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