Financial Planning & Money Management

Financial Planning Definition:  Financial Planning is a collaborative process that helps maximize a Client’s potential for meeting life goals through Financial Advice that integrates relevant elements of the Client’s personal and financial circumstances.

CFP Board’s Code of Ethics and Standards of Conduct for CFP® Professionals

Effective October 1, 2019.


Financial Planning Process

  • Determine short-term and long-term financial goals and objectives.
  • Assess current financial status.
  • Evaluate goals and objectives in light of current financial status.
  • Consider options going forward.
  • Implement the plan.
  • Review and update.

Components of Financial Planning Process

  • Cash flow analysis.
  • Debt reduction [if applicable]
  • Risk management issues.
    • List risks, determine if risks are insurable, discuss insurance coverage options, decided if the risk to insure or self-insure.
      • [Does not include liability or property-casualty insurance risks.]
  • Pre-retirement planning.
    • List expected retirement age and retirement income objective.
    • Determine expected sources of retirement income.
    • Project sources of income’s ability to maintain long-term retirement income objectives.
  • Post-retirement planning.
    • Review current retirement income and expenses.
    • Project possible new expenses.
    • Evaluate retirement income sources ability to maintain retirement objectives.
  • Evaluate the money management strategy.
    • List money management objectives.
    • Review current asset allocation.
    • Discuss expected return and historical volatility.
    • Assess the strategy’s ability to meet objectives.
  • Determine estate planning objectives.
    • Discuss appropriate estate planning documents. 
      • [Estate plan and documents should be drafted by a qualified estate planning attorney.]
    • Review of beneficiary designations in light of estate planning objectives.
  • Tax Considerations
    • Discuss the impact of taxes on goals and objectives.
    • Consider various tax planning strategies. 
      • [Tax planning and preparation should be done with qualified tax planning accountant.]

Learn more by contacting me today.  Fee-only billing.  

Money Management

Money management is an important part of long term financial planning.  A money management strategy should take into consideration the following:

  • Short-term and long-term cash and/or income needs.
  • The time horizon for cash and/or income needs.
  • Asset allocation options and strategies.
  • The desired rate of return compared to asset allocation expected rate of return.
  • Tolerance for risk or volatility compared historical risk or volatility of various asset allocations.


I do not manage money in any form.  I do provide with information and analysis on your money management objectives including:

  • Asset allocation options and strategies.
  • Analysis of short-term and long-term cash needs in light of various asset allocation options and strategies.
  • Desired return compared to the expected return.
  • Acceptance of risk or volatility with current or possible asset allocation strategies.


I do not receive compensation from any investment company or a third party money manager.  At the client’s request, I do provide information on various investment options including fixed annuities, variable annuities, annuities with living benefit riders, immediate annuities, mutual funds, exchanged traded funds, individual stocks, and bonds, investment managers.


Learn more by contacting me today.  Fee-only billing.