Over the next few months, we’ll be reaching out to everyone about creating your personal financial plan, utilizing new interactive and dynamic financial planning technology. We will offer three levels of the application:
- Essentials—Free to anyone and everyone.
- Interactive—A monthly $50 subscription service for folks who like to work with us electronically.
- Premium—Included free for clients with more than $250,000 under our management, or offered as an $80/month subscription.
All of our offerings—including Essentials, which is free—will include Retirement planning, real-time net worth tracking, budgeting, cash flow analysis, investment allocation analysis, an estate planning checklist, a private document vault, and real-time links to investment, bank, and credit accounts. We’ll also be able to assign and complete planning tasks right within the application. You can consider it similar to Mint.com, only better: complete with interactive planning features from your friends at Sommers Financial Management.
Our new software will give you the ability to log in to one financial application and see your bank accounts, investment accounts, credit cards, mortgages, etc.—all in one place. You can also securely store tax returns, wills, trusts, insurances, and other important documents.
For those of you working on paying down debts, our Interactive and Premium services offer debt management strategies and analysis. We also can demonstrate how to maximize your Social Security benefits—and the reasoning behind why we suggest a certain optimal claiming strategy.
There is also an education planning module— which we only recommend if your retirement plan is on track—and a life insurance needs analysis, to prepare for the worst case scenario.
Our Interactive and Premium subscriptions even project your federal tax returns each year through the end of plan. Preview your future Form 1040s (and schedules)—a tremendous help when it comes to tax planning.
I’m most excited about the ability to plan for Roth IRA conversions. I recently read a book about living in the 0% tax bracket, and if you take full advantage of our planning application, we are now better able to help you maximize tax-free income in retirement, and plan for a tax-free estate.
As we perform our annual client reviews, I’ll be reaching out to set up your new financial suite. Of course, you can always let us know if you’d like to get started today!