I'm Jason Vincent president or co-founder of Matco Financial. Let's talk about financial planning for accumulators.
At Matco we believe there are eight key gauges that make up your dashboard. Many Financial plans are an inch thick but are so big that they don't get executed or monitored. Ours is three pages long.
First page is very simple it outlines who the plan is for and it outlines the customization that works best for you. Page two of your financial projections we lay out the groundwork of your goals, your assumptions, your current net worth statement, and finally, your expense summary. Being an accumulator, the goal is to set yourself up for retirement. We outline expected retirement date and then discuss investment accounts and other goals.
Assumptions are critical as it is here we consider expected returns, based off your risk profile of course, as well as other assumptions like inflation rates. With the information that we received from you, we determine your current net worth. This is the number that is your anchor. This is the number that we watch and monitor each year to ensure that you are on track to achieve your retirement goals. Finally we will track and monitor your expenses, this isn't about monitoring every cup of coffee purchase, but rather is to keep you on track to your expected revenue your returns and your net worth.
The final page, page three, there's four key gauges. The first be net worth summary, one could argue this is the most important graph. It shows whether you will have enough money to retire without running out of money. Looking closely you can see how your real assets are performing compared to your financial assets. More importantly, it shows that your net worth holds steady even after retirement.
Although this plan is focused on accumulation of the high net worth summary, it leads to the retirement income summary. At a high level this graph illustrates how you will replace your salary income with investment income. Knowing your net worth summary followed by your retirement income leaves you of course with your expected estate summary. This leaves you with both bookends. As an example you started off with 500,000 when you were 33 years of age, and now you've accumulated at age of 93 to $2.2 million.
Finally your recommendation summary Matco wealth program takes you on a journey it requires yearly reviews and modifications to stay on course. Markets go up and down, your priorities will change year-over-year. But your goals are clear. Accumulate net worth with a plan that is reviewed yearly and will meet your financial and lifestyle goals.
Please give me a call or drop me a note to receive your complimentary financial projection plan.
