Estate Planning
Save money and your beneficiaries time by having a written plan for your life. Having the right beneficiaries listed on your assets, coordinating with your Estate Attorney on your Will, help determining if a Trust makes sense for your situation are all vital to your peace of mind. Also, if you’ve ever been responsible for a loved ones estate after they have passed, you know how important it is to have a coordinated/written plan where all your assets. As your financial quarterback, your heirs have a trusted place to know where your money is.
Employee Benefits
You need help navigating complicated employee stock plans such as Stock Options, Restricted Stock Units, Performance Stock Units, Deferred Compensation, Employee Stock Option Plans, etc. There are tax consequences and investing implications that affect how you participate in these plans, and every plan is slightly different, so you need a plan.
If you have access to an HSA or FSA at work, there are tax benefits to participating in these plans. But there are rules and pros/cons, does it make sense for you and your situation?
Insurance and Annuities
Insurance is the ultimate “what-if” solution. What if I pass away, what if I become disabled, etc. Without the right protection, good financial plans can be ruined by the unforeseen events of life. Steadfast believes in term life insurance until you are “Self-insured”. Being self-insured means you have reach asset balance to maintain your loved ones lifestyle God forbid one of these events happened. But sometimes insurance for the rest of your life makes sense such as long-term care, umbrella policies, etc.
In retirement some may take the opportunity to turn their asset balance into an income stream with annuities. This can be a valuable tool to many for the peace of mind. But choosing the right annuity can help reduce regret and costs down the road.
Education Planning
Saving for college or T-12 education expenses doesn’t have to be complicated. With the help of forecasting software, we help you understand what you need to save to keep up with he rising college costs are an various schools. In most cases a dedicated college 529 plan makes sense from a tax and investing standpoint. But sometimes clients ask “What if I want to save but my child ends up not going to college?” - that’s where we recommend opening a general investing account in case you have other ideas for helping your child.
