Personal Financial Planning

Sterk Financial Services, Inc. - Personal Financial Planning

What's included in a Financial Plan?

A sound financial plan generally consists of six distinct areas of financial strategies.  By focusing on these six specific areas, with the guidance of our Certified Financial Planners, you can determine the best way to achieve your goals.  You may choose to start with a focus on just one area of the plan, but with the understanding that one area affects all of the others, a complete financial plan should address all six.

Financial Position

Taking a look at all areas of your financial life and seeing how the various parts fit together is a critical step in creating a financial strategy for the rest of your life.  Our Certified Financial Planners will help you define your specific financial objectives, define your dangers, strengths, and opportunities, and then assist you in prioritizing your goals.  By taking a look at your present financial position we can determine whether you are making the best choices in achieving a balance between your current and future expectations.

Risk Management

Protection for your family takes a variety of forms, such as income replacement, wealth replacement, and mortgage coverage.  Adequately preparing for these situations will ensure that your passing will not have a devastating financial effect on your loved ones.  We can make sure that your family will be taken care of financially when you cannot.

Wealth Accumulation

Financial security is a goal that we all strive to achieve.  We will assist you in implementing a financial strategy that will take you confidently into the future, secure in the knowledge that you have provided for your family, no matter what the needs might be.  We will design a portfolio of investments that matches your risk tolerance with your needs, adjusting when necessary to meet a changing world economy.  We will work with you to insure that the necessary funds are available to meet the educational needs of your children.  Your financial plan will include recommendations for health, life, disability and long-term care insurance for you and your spouse.  All services provided by our certified financial planners are approached with the most beneficial tax avoidance strategies in mind.  In addition, we provide out clients with an Investment Performance Analysis, our unique, in-depth quarterly tracking analysis and report.

Retirement Planning

Retirement is a serious concern for many since people are living longer, social security and pension income are limited in what they will pay out, and taxes plus inflation erode  purchasing power over time.  For that reason, it is important to implement a retirement plan to make sure that you do not outlive your income.  A sound financial plan focuses on both the wealth accumulation and the distribution of your assets during your retirement.  We will work with you to form a retirement plan where your needs are more likely to be met during those years.

Wealth Preservation

You have worked hard during your life to accumulate wealth and assets that will sustain you over your retirement years.  But you need to make absolutely sure that you will not out-live your assets and that you and your family will be taken care of for a very long time.  You need to make sure that your funds are invested and wisely managed by the best people that you can afford.  Our Certified Financial Planners can help take some of the emotion out of money management by applying strategies of asset allocation according to your personal risk profile.  We can help you protect your income from being used for the high costs associated with nursing homes or medical bills.

Estate Planning

A solid estate plan will help to ensure that your assets are eventually distributed according to your wishes.  Planning for your own death is not pleasant but it is an important process.  A lack of planning might result in income and estate taxes reducing your legacy by as much as 70%.  Our Certified Financial Planners will help you organize your estate and personal affairs, and determine the most tax effective strategy to ensure that you pass on a legacy, not a tax burden.