CASH FLOW PLANNING
COMPREHENSIVE AND CUSTOMIZED FINANCIAL PLANNING IS CRITICAL TO CREATING A ROADMAP THAT WILL GUIDE CASH FLOW AS SEAMLESSLY AS POSSIBLE
Travel. Trust Funds. Taxes. Tee times. For clients who are approaching retirement, future expenses often lurk in unexpected places. That’s why comprehensive and customized financial planning is critical to creating a roadmap that will guide cash flow management as seamlessly as possible.
The Baby Boomer generation – loosely defined as people born between 1946 and 1964 – is either rapidly approaching this life stage, or well-settled already. More than half of Clearstead’s clients fall in this category, giving us a wealth of experience in guiding people toward a thoughtful cash flow plan for financial independence.
CASE STUDY
When Clients Experience Loss, Clearstead is There
Are you financially independent, and if so, at what age? If not, what do we do about it?
Beyond investment strategy, a solid retirement plan takes a holistic view of a client’s situation, including assets, short- and long-term goals, and the many variables that make each person’s needs unique.
It’s worth noting that while Clearstead prides itself on starting with a long view of retirement – sketching out a plan that looks 20 or even 30 years into the future – we also review that plan often – especially during significant life events such as a job change or a spouse’s death.
WHITE PAPER
Five ways to prepare for retirement cash flow
When creating a retirement cash flow plan, some factors that clients frequently overlook include
MEDICAL COSTS
Philanthropic
Educational expenses for grandchildren
Many clients underestimate the amount they will contribute toward college tuition and other related costs for grandchildren, but this is a common expense.
TRAVEL
The ClearSight Analysis
With our existing clients, Clearstead’s team of professionals builds a comprehensive overview of that person’s income streams and expenses. We factor in assumptions such as how aggressive a client’s temperament is for investing, and we look at issues such as when a particular income stream – for example, from an inheritance, or from Social Security – is likely to enter the fray. We ask questions like whether downsizing a home is a cost-effective strategy, whether a second or third home is something to consider acquiring or selling, and whether a life event such as a child’s wedding might factor into future cash flow needs. These assumptions are typically the largest and most varied section of an individual’s profile.
Our analysis helps us ask questions, so we better understand our clients’ positions: are funds depleting at a rate that causes concern? Or do funds back up and create questions about where that money will eventually go, such as to heirs or a charity, or both, and in what proportions?
Tax and Charitable Giving Strategies
Because we complete clients’ tax projections and returns, we can help optimize assets between retirement and taxable accounts. When the time comes to pull assets from one or the other, we can analyze which choice offers the most tax efficient strategy.
We can also determine the most strategic time for charitable giving in relation to the client’s tax profile, and assist with Social Security optimization: is it better to collect a lower payment at an earlier age, or wait until later?
Our goal is to create a plan that provides our clients with the comfort that we have planned for unforeseen events, such as a sudden death or a divorce. If that happens, we’re here to help you pick up the pieces and find a path forward. Clearstead isn’t just an investment advisor; we are trusted stewards of all aspects of your financial well-being.
LEARN ABOUT HOW OUR PROPRIETARY PROCESS WILL HELP TO GUIDE YOUR CASH FLOW MANAGEMENT ON THE RIGHT PATH
YOUR FUTURE IN FOCUS
At Clearstead, we create integrated, prudent, and custom strategies that bring clarity to you or your organization’s financial future.
Clearstead is an independent financial advisory firm serving wealthy families and leading institutions across the country. As a fiduciary, it provides wealth management services and investment consulting to help clients meet their financial objectives, achieve their aspirations, and build stronger futures.
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1100 Superior Avenue East
Suite 700 | Cleveland, Ohio 44114
216-621-1090
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