It is better live rich than to die rich.
–Samuel Johnson

At COVENANT, we are insistent on understanding our clients’ financial circumstances before recommending an investment plan. A clear vision of your future goals (especially relating to retirement) is necessary to ensure your investment plan is designed to meet your future needs. This is what we mean by “purpose based investing”. The financial planning process will vary from client to client depending on your financial assets and your time horizon, and in some instances, a detailed income and expense analysis will be appropriate, but for other clients, such detail is not required.

In addition to retirement planning other possible financial planning topics often explored with clients includes:

• Estate matters and gift
• Insurance needs
• Income tax planning
• Education funding
• Health and long-term care
• Social Security benefit options
• Eldercare challenges
• Budgeting and cash flow

Before serious financial planning can be contemplated, it’s important to consider the broader “life planning” subject. This is a particularly critical and vital part of retirement planning and often overlooked or hastily contemplated. Life often changes dramatically after ceasing full-time employment, so Clients are encouraged to dream about the future and what they hope to do and accomplish during their retirement years. This shouldn’t be a quickly constructed list of retirement goals, but rather a thoughtful analysis of your true desires for the future without any regrets left on the table. Obviously these lifetime plans need to be realistic, but don’t omit any true desires, and then together we can reconcile those lifetime goals to your financial plans in an effort to make your dreams a reality.