Also known as cash management, this is the guts of any financial plan. Spending less than you make is easier in concept than in actual practice. There is greater emphasis on this area of financial planning for young people. But both young and old must be successful with this area to be able to achieve their long-term goals.
Our investment consulting approach is both disciplined and strategic. We specialize in helping you achieve your goals based on your customized financial plan, with an eye on your risk tolerance level.
Woodhull will recommend a portfolio structure that achieves the best combination of investments based on your risk vs return profile. We’re focused on keeping both taxes and investment expenses low so you can keep more of what you earn.
While it is important to be adequately insured in all areas, most won’t know if they are under-insured until it’s too late. Our analysis will help you understand your current coverage needs. We’ll work with your current trusted providers to make sure you are adequately protected or provide you with a vetted list should you request one. As fee-only financial planners, we don’t sell insurance or receive commissions. We provide the unbiased analysis that discovers your true insurance needs.
This is the area of financial planning that is often the most unique for every individual. Retirement means something different to every person. Whether you want to travel, continue to work in a new job or start a new business, will dictate the type of planning that needs to be done.
Woodhull’s client-centered financial planning approach will help you prepare for your ideal retirement. The transition into your retirement and the preparation along the way can be smooth if the planning is done with your specific goals in mind. We make sure you are protected and prepared.
Estate planning is not something that should wait until later in life. It should be part of the overall financial planning process. The basic estate planning documents should be in place as soon as possible: a will, durable power of attorney for finance and health, a living will or any needed trusts. Those legal documents can give you and your loved ones peace of mind.
We’ll keep these documents on file and encourage you to regularly update them and let your loved ones of any updates to your estate plan. We’ll help you to understand key estate planning issues, including planning for philanthropic gifts or other legacy items. We’ll work with you and your attorney in a manner designed to keep your overall estate planning costs to an efficient minimum.
College planning has taken a seat front center in most clients’ financial plan. The enormous present day four-year cost of educating a college student is rising at an inflation rate that often exceeds 8% a year. This planning can be challenging. Even more challenging is the debt management associated with the enormous size of student loan debt owed by many of today’s young adults.
Tax planning is an area of financial planning that often received only a token nod in the past. But tax planning is now receiving the attention it deserves. Obviously, any attempts to reduce taxes can have an enormous impact on all phases of one’s accumulation of wealth.
Many people unknowingly pay more taxes than they might otherwise need to. We will work closely with your tax advisors to minimize the tax exposure in your investment portfolio and other financial planning areas where you may not be taking full advantage.