?From the oyster to the eagle, from the swine to the tiger, all animals are to be found in men and each of them exists in some man, sometimes several at the time. Animals are nothing but the portrayal of our virtues and vices made manifest to our eyes, the visible reflections of our souls. God displays them to us to give us food for thought.?
Victor Hugo
This month?s issue of Cincinnati Profile is dedicated to our friends in the Animal Kingdom, and as Hugo reminds us, the wants and needs of our pets do not vary greatly from our own. In particular, animal owners realize the need to plan carefully ? Where will Fido go while we are in Chicago?? What time should the neighbor boy let Spot out for a walk?? How much food and water do I need to leave today for Paws while I am at work?
A good Family Master Plan is doggone common sense.
Financial planning requires just that ? an overarching plan. In last month?s issue of Cincinnati Profile, we discussed the comparative value of mutual fund investments managed by ?Good and Great? and ?Average or Elite? mutual fund managers. Without sound financial planning, however, even your best investment decisions are unlikely to lead you to a comfortable retirement.
?He who every morning plans the transaction of the day and follows out that plan, carries a thread that will guide him through the maze of the most busy life. But where no plan is laid, where the disposal of time is surrendered merely to the chance of incidence, chaos will soon reign.?
Victor Hugo
Apparently, Hugo was interested in pets and planning. So what constitutes a sound financial plan?? At Retirement Corporation of America (RCA), we provide clients with the Family Master Plan?. A Family Master Plan is the key to our Retire in Comfort? Program and is tailored to the specific needs of each client family. Prior to providing advisory services, a Registered Investment Adviser (RIA) such as RCA will ascertain each client?s investment goals and objectives. At RCA, we then allocate and/or recommend that the client allocate investment assets consistent with the client?s designated investment objective and risk tolerances.
The RCA Family Master Plan includes:
?? ? A defined budget outlining the income needed to replace your paycheck at retirement
?? ? Clearly defined risk parameters which are measured daily
?? ? Realistic performance targets which are measured daily
?? ? Clearly defined roles of advisory accountability
?? ? Clearly defined compliance checks and balances
?? ? Clear client reporting
Each Family Master Plan may also incorporate tax planning, insurance planning, cash flow and budget planning and estate planning from independent outside service providers.
As life changes, a master financial plan must change. At RCA, each client portfolio is measured, monitored and adjusted, as needed, on a regular basis. Once you develop a master financial plan, you should contact your RIA if there are any changes to your financial situation or investment objectives or if you wish to impose, add or modify any reasonable restrictions to your investment management services. Such changes could include a family addition, a new home or job?or even a Best in Show title in the Westminster dog show by your prized Shih Tzu!
In conjunction with the month?s edition of Cincinnati Profile, RCA is pleased to offer a complimentary consultation with one of our Certified Financial Planners?. You will receive a one-on-one financial planning session to review your current position, future plans, the performance (as applicable) of your 401(k) and other key areas which may impact your overall financial well being.
This initial consultation meeting may be in our office in Blue Ash or by phone and is considered an exploratory interview to determine the extent to which you may benefit from the investment management and/or retirement income planning services offered by RCA. Further, for the first five families that mention this article, we will provide a complimentary Family Master Plan.
Again, regardless of whether you are looking forward to a run on the beach with your favorite pet, or envisioning retirement at that same shore, planning is essential. Best of luck in your preparation, and enjoy the summer.
For more information about Retirement Corporation of America and to schedule a complimentary consultation with one of our Certified Financial Planners, please visit www.theretirmentcorporationofamerica.com.
Source: http://cincinnatiprofile.com/2011/07/finance/fetching-a-master-plan-for-retirement/
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