Comprehensive vs. Modular

While most investors are focused on Retirement Planning, it often makes the most sense to plan and navigate your total financial journey. This is not a straight course just to retirement, but one must address a number of challenges along the way. That is why it makes sense to prepare a Comprehensive plan, reviewing a number of subjects from debt reduction, college education, retirement and estate plan. It integrates all the variables from taxes, cost structure, investments, debt, to a detailed estate plan. A Comprehensive Plan includes a Retirement Plan plus at least two or more of the following plans.

Retirement Plan includes the calculation of the cost of retirement, analysis of existing retirement income sources, recommendations to implement a revised retirement investment program and analysis of alternative distribution methods.

Investment Plan is a review of current investment portfolio and recommendations to implement a revised investment plan.

Estate Plan is the analysis of existing estate tax and settlement situation, along with recommendations to implement a revised estate plan including wills, distributions, trusts, gifting, charitable trusts, legacy IRAs, and life insurance, if necessary.

Educational Savings Plan includes the calculation of the expected cost of education, analysis of existing sources of education funding and recommendations to implement a revised plan.

Tax Plan includes the analysis of existing tax returns, along with recommendations to reduce or defer taxes and maximize the benefits allowed under the latest tax laws.

Risk Management Plan is an insurance needs analysis with an analysis of all existing insurance coverage and recommendations to improve protection against financial risks.

Cash Management is the analysis of current budget and recommendations to implement a revised cash management program.

Debt Management is the review and analysis of the current debt structure with recommendations of reordering, consolidation, and refinancing in necessary.

Each of the above financial plans involves an initial meeting to gather information and discuss goals and objectives, and a follow up meeting to review and discuss the resulting financial plan.

At Quest Financial Services Inc. we strongly encourage all of our clients to have a comprehensive financial plan done in order to provide them a navigation chart on their progress to retirement. We will also update this on an annual basis. Working with our clients, we can develop an action plan of specific steps to get back on course on their route to Financial Freedom. If interested, please see the Services tab on this website. Contact the professionals at Quest Financial Services Inc. to set up a complementary consultation.