Personal Financial Planning

Our Approach

Asset Management – Your unique investment strategy is designed based on what is important to you; your goals, your dreams and your time horizon. We use an experienced investment advisory committee to provide oversight and management of your investments by navigating nuances of the market landscape for you.

Retirement Planning – In the course of helping you navigate your financial future, we can review your retirement plan and make certain you are on track for a comfortable retirement.

Insurance Planning – You are protected along the way with a full risk assessment which offers advice to protect you, your family and/or your business.

Estate Planning – You can build, manage and preserve your wealth with our full range of strategies and solutions.

Tax Planning – Collaboration between our wealth management team and your tax advisor provides you with a distinct advantage in your financial planning process.

Financial Planning and Analysis

What is Financial Planning?
Comprehensive financial planning and analysis is the process of accumulating, preserving and distributing your assets. We help you develop a plan to accumulate and invest your money and address questions such as “How do I save money to invest?,” “How do I invest wisely?,” and “How do I not overpay on my taxes?”
How Do I Save Money To Invest?
Budgeting is the cornerstone of every financial plan. Your budget must be written, tracked and reviewed monthly. Do not be unrealistic, allow for unforeseen events and for fun. The goal is to save 10% of your earnings. As time goes on, try to increase the savings percentage.
How Do I Invest Wisely?
Most importantly, you must have trusted advisors who recommend adjustments to your portfolio in response to changes in our world. We work closely with your financial advisors to ensure we all understand this is your nest egg and is invested accordingly. The success of past returns is not indicative of future returns. You must maintain a disciplined approach with diversified holdings. We do not offer investment advice, but help you understand whether the risks correlate to your expected returns. Following these concepts will give you greater opportunities for success.
How Do I Not Overpay On Taxes?
There are sound strategies for minimizing income taxes that maximize deductions based on your lifestyle. You should utilize both deductible and nondeductible retirement plan contributions to save for the future and reduce income taxes. We address estate tax savings in our section on Estate Planning. Remember the goal is not to pay zero tax, but to minimize taxes with proper financial planning and coordination.

Retirement Planning

Can I retire? Am I ready to retire?

Not only are finances a key consideration, but so are psychological aspects. The lifestyle you desire is an integral part of this process. GSS will review with you your current holdings, cash flow and projected growth of your portfolio to determine if your current plan is attainable or if adjustments are necessary.

We can assist you with a lifestyle analysis, identify shortcomings and provide solutions for attaining your future goals. We will work with your investment advisor to develop your plan for retirement. As economic and financial needs change, we will help you revise your plan as necessary.

Retire on your terms with our help.

What documents do I need?

In addition to your estate planning documents (wills, trust documents, etc.), the following are critical to have when you retire:

  • A listing of all accounts (bank and investment), insurance policies, location of all safety deposit boxes, name of beneficiaries of retirement accounts (including pensions, 401(k)s, IRAs, Roth IRAs) and annuity contracts
  • Personal and family medical history (including living birth certificate, passport, death certificates of parents, marriage or divorce documents)
  • Proof of ownership of assets (including warranty deeds for real estate, proper titling – whether joint or individually owned, certificate of trust provisions)
  • Comparison of Tax Implications – How much will I pay in taxes? Should I convert to a Roth? Is my social security taxable? How do I reduce my taxes?

We focus on understanding your retirement goals and then our tax accountants help you reach those goals by avoiding unnecessary taxes.

When should I take Social Security?

Social Security benefits can start at age 62, 67 or 70 depending upon your current economic situation. Do you need money for living expenses or for investing? What is your medical history and life expectancy? We can provide the information you need to prepare a break-even analysis to determine the optimum age at which you should receive Social Security benefits.