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Comprehensive Financial Planning (offered through Lincoln Financial Securities Corporation)
Many people feel that they can handle their own financial affairs, or at least they feel that they should. But from our experience, most people plan their finances as if it were a crapshoot: they invest here, they invest there, without investing within the parameters of a financial plan. Nor do they review it frequently to stay on track.
Few people achieve success on anything they do without a plan. Remember the expression: "to plan for success, you need a successful plan." The truth of the matter is that most Americans simply are not getting it done. Personal bankruptcies are at a record-high, more than 10 times the rate in the Depression. It is the middle class, not the low class, filing here. Personal savings was actually negative across the country. Credit card use continues to climb, as does credit card trouble. Many people are barely making the minimum monthly payments of 2% of balance, which means you will pay off your balance in 17 lifetimes. Now the credit card companies are being forced to double the minimum payment to 4% so that by the time you die you will have just paid off your credit card balance. Financial challenges abound, with the Sandwich Generation worrying about funding their ailing parents' medical bills, their kids education and last but not least, their own retirement. Time is ticking on all of us... We begin the financial planning process with our five-page financial plan questionnaire. With that information, we discuss with you - based on a multitude of assumptions - how your cashflow will hold up before and during retirement, how your assets grow over time, how your expenses increase or decrease and whether you will have any assets available at life expectancy, how well or not your investments are growing, how well you are covering all of your financial risks, is your mortgage the right one for your financial situation, etc. One of the big questions everybody wants to know is this: Will you outlive your financial resources? Once we run the plan, we review and discuss with our clients about the findings. Sometimes we go back and change the assumptions and re-run the plan to see the effect. Will an extra 1% return on your investments make a difference, what if you lived to 100 instead of life expectancy of 90, what if your annual expenses in retirement were $50,000 instead of $45,000? Then we write up a summary report - and action plan - with suggestions on how to tackle your financial issues. Then we take each issue, in order of priority, and help you solve it. Which means beating on you until you get it done! The beauty of comprehensive financial planning is that it is done on a regular basis. We update our clients plans quarterly, semi-annually, annually or whenever something changes in their lives - marriage, kids, divorce, college graduation, weddings, big time expenses of auto or home, etc. We are compensated by one of two methods - on an hourly basis/fixed price for the plan or we can enter into a fee-on-assets basis if you would like us to manage your investments. |
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Nearman Financial 1005 Cameron Street Old Town Alexandria, VA 22314 Phone: 703-683-4660 Fax: 703-683-9433 Cell: 703-587-4321 Email: Nearman Financial |
Neither the information nor any opinion contained on this website constitutes a solicitation or offer by Nearman Financial Consulting Inc. or its affiliates to buy or sell any securities, futures, options or other financial or insurance instruments or provide any investment advice or service.
Securities and advisory services offered through representatives of Lincoln Financial Securities Corporation, Member FINRA/SIPC, to residents of the District of Columbia, Virginia, Maryland, West Virginia, Georgia, Florida, Arizona, Nevada, Pennsylvania, Massachusetts and California. Nearman Financial Consulting Inc. and Lincoln Financial Securities Corporation are not affiliated. |
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