Financial Freedom
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Financial Independence Planning |
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We are a Fee Only financial planning practice whose business purpose is to assist our clients in meeting their life goals. Our motto "Live for Today, Plan for Tomorrow" measures our success not by performance statistics, but by how we help our clients succeed. Our seashell logo says we will listen first before we provide advice, just as children, we listened for the ocean in the shells along the beach. At Lifetime Planning Concepts, I have taken financial freedom planning seriously as evidenced by my writing and speaking to professional groups. I call it financial freedom or financial independence rather than retirement planning for one simple reason. The goal should be to reach a level of financial freedom to be able to make changes in your life without waiting to retire. For those interested in more details go to the listing of seminars and articles where I provide very technical descriptions of IRA, Qualified Plan and Roth IRA rules as well as explore some Lifetime Planning Concepts in more depth. Knowledgeable investors are starting to realize the importance of "Tax Efficiency". As a Certified Public Accountant, tax efficiency is part of my training and at Lifetime Planning Concepts we maximize it throughout our planning process. IRA planning is very complex and requires thoughtful consideration of your life goals. Naming beneficiaries and notifying your custodian of required distribution elections are critical steps that require a full understanding of the laws. Just as important, however, is a clear understanding of how your goals may conflict with tax efficient strategies and making informed choices of the available options. |
How our Financial Freedom Process Works |
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First and foremost we want to meet you and listen to the reasons you sought us out. Like many financial advisors we ask that you provide us a summary of your goals, objectives, concerns and financial information on our data gathering forms. (Data gathering form soon to be downloadable from here, check back soon!) Everything we do is based on your own personal situation, the assets you have accumulated or will accumulate, your spending habits or dream vacations. Your goals and objectives are significant factors effecting financial freedom. We review your personalized information to prepare a written engagement letter spelling out the services to be provided and an estimated fee range. All of our services are provided on a Fee Only basis, guaranteed in writing and signed by the President, James A. Shambo CPA/PFS. Upon acceptance as a client you receive our written Team Commitment and your initial meeting is scheduled. We prepare several individualized financial freedom profiles for the initial meeting. Our software allows maximum flexibility of assumptions so we develop a solid foundation for the steps to come. You also receive your first of many educational sessions to help you understand the basis for the assumptions used and the strategies developed. You help us create your financial freedom strategy in an interactive session where facts and emotions blend. You learn and implement as we go. To be a client of Lifetime Planning Concepts, you must become involved and be willing to learn and to teach. Our process relies heavily on your ability to communicate your fears, concerns and wants. That is how you teach us to understand your needs. The journey we embark on together will help you take the difficult, but needed steps with a better understanding of the risks you assume. As a result, one of our commitments to you is that we will manage your expectations before we manage your money.
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