What is a Retirement Plan?

A retirement plan or financial plan is a comprehensive strategy designed to help individuals achieve their financial goals, especially those related to retirement. It involves analyzing your current financial situation, setting specific objectives, and creating a roadmap to achieve those goals. A well-constructed financial plan considers various aspects of your finances, including income, expenses, investments, taxes, insurance, and estate planning. Here are the six areas of financial planning generally included in a retirement or financial plan:

Financial Condition

  • Cash Flow Analysis
  • Creating a Budget
  • Buying vs Leasing a Car
  • Buying vs Renting a Home
  • Emergency Fund Planning
  • Reviewing Credit Scores
  • Vacation Home Planning
  • Debt Repayment Plans (Auto, Mortgage, HELOC, Personal, Business)
  • Student Loan Repayment Plans
  • Home Refinance Planning
  • Reverse Mortgage Planning
  • Saving for College (529 Plans, UTMAs, Roth IRAs, Taxable Accounts)

Risk Management

  • Life Insurance Needs Analysis
  • Disability Insurance Needs Analysis
  • Long Term Care Planning
  • Home / Auto Insurance Review
  • Umbrella Insurance Analysis
  • Employer Benefits Review

Investment Management

  • Investment Policy Statement Review
  • Investment Objective Review
  • Asset Location Review
  • Review Employee Stock Options
  • Review Concentrated Stock Positions
  • How to Invest an Inheritance

Tax Planning

  • Tax Return Review
  • Tax Loss Harvesting
  • Qualified Charitable Distributions (QCDs)
  • Donor Advised Funds & Charitable Trusts
  • Roth Conversions
  • Traditional vs Roth Contribution Analysis
  • Tax Credit Analysis / Opportunities
  • Tax Deduction Analysis / Opportunities

Retirement Planning

  • Retirement Plan Projections
  • Cash Flow Projections
  • Budgeting
  • Goal Planning
  • Social Security Analysis
  • Required Minimum Distribution Strategies

Estate Planning

  • Business Succession Planning
  • Federal Estate Tax Planning
  • State Estate Tax Planning
  • Gifting Strategies
  • Review Estate Planning Documents
  • Recommend Estate Planning Attorney to Draft Documents

A financial plan should be revisited and adjusted regularly to ensure it remains aligned with your goals and adapts to any changes in your life or the economic environment. Working with a financial advisor can provide valuable guidance in developing and maintaining an effective retirement or financial plan.

Reach out to a Nepsis, Inc. Wealth Advisor to build a comprehensive retirement plan for you and your family today.

Advisory Services offered through Nepsis, Inc.; An SEC Registered Investment Advisor.

Your goals, our process. Everyone has a different destination in mind, requiring a different roadmap. Our Clarity Roadmap® solution keeps you moving in the right direction helping to reach your long-term goals.
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Taxes play a major role in your overall plan and we believe it is paramount to be proactive instead of reactive. Our team executes strategic tax planning solutions to allow you to maximize income, minimize taxes and take advantage of financial opportunities.

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To ensure your assets are carried on to the people and causes you care about most, we work closely with you to structure your plan and protect your assets properly.

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Through the utilization of Separately Managed Accounts (SMAs), your investments are tailored to you and you alone — designed and managed to help you reach your goals.
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Our dedicated team identifies the instruments and policies needed to provide protection and care for your family, legacy, and material assets.
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Our attorneys work with you to provide insights and solutions on critical strategies for Trusts, Estate, Wealth Preservation, Legacy Planning, Charitable Giving, and others.
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As unique as you are, our solutions are designed around you, your family, and your business. We help you turn the challenges you face into opportunities for growth and security.

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