Financial Planning

Financial planning helps improve the likelihood of achieving your financial goals. It helps you understand your current situations, stay focus, reduce anxiety and avoid short-term reactions that could hinder your best interest. Depending on your unique situations, financial planning service may include:

  • Discuss, review and prioritize financial goals and objectives.
  • Assess current financial situations.
  • Assist with budgeting.
  • Identify essential living expenses vs. discretionary expenses.
  • Complete assets, liabilities and cash flow reports.
  • Perform current investments analysis.
  • Set target asset allocation (individual security selection is excluded), projected returns and inflation projection.
  • Complete a retirement planning assessment, including retirement income and expense projection, assets value at the beginning and at the end of the plan.
  • Perform probability analysis to identify likelihood of retirement success.
  • Perform “What If” analysis based on different retirement scenarios.
  • Develop and discuss retirement income withdrawal strategy such as social security income, pensions , annuities, Required Minimum Distributions (RMD).
  • Identify basic estate planning and tax saving opportunities.
  • Present a final written plan that will be reviewed in detail with you. It will contain recommendations designed to meet your stated goals and objectives, supported by relevant financial summary illustrations.
  • General consultation regarding financial and savings instruments such as annuities, 401k vs. IRA rollover, IRA vs Roth, Roth conversion, small business retirement plans, long term care  insurance and life insurance policies.
  • Follow up consultation (within 30 days after the delivery of the final plan).
  • Referral to other professionals, as required, to assist with implementation of the action plan.

TAK’s Advisory’s fiduciary, fee-only service model removes potential conflicts of interest and provides transparency. Client has flexible fee options: Asset-based fee, Annual Flat fee or Hourly fee. For more information, please contact Tak at 207-799-2010 or email, or refer to form ADV Part II on About tab. Thank you.