Observations - August, 2010

In my extensive experience in working with clients as a financial planning professional, we focus primarily on developing and implementing strategies to ensure that there are sufficient assets to support the lifestyle they envision for their retirement, and perhaps provide for their heirs when they are gone. Once we have answered the questions around Financial Matters (asset allocation and investment management, tax planning, estate planning, life insurance and long term care insurance), we are well on our way to covering most of the areas of importance. We have come to recognize that there are two other important considerations:

PERSONAL MATTERS
What will our clients’ legacy be? Not money or their “estate”, but what about their values, cherished memories, family stories, life lessons, or words of wisdom? In most cases, these are their most prized possessions, the things that money cannot buy. They constitute a personal legacy.

PRACTICAL MATTERS
There are a number of practical matters that most of us never think of documenting unless we are going on vacation. These details can be very helpful as your survivors continue to carry on with life: location of key documents, information on household maintenance, care of children and pets, and funeral arrangements.

For questions or additional information on this newsletter, please contact us.

The projections of returns for specific investment types are estimates and projections and therefore prone to error. Actual returns may differ significantly from projections. Your experience will differ from the performance of specific asset types to the extent that several types exist in your account, and to the extent that your specific investments perform differently than the average of that asset type. Whether any of the asset types mentioned above are suitable for your account must be determined individually, and your portfolio may not contain some of the asset types described. These views represent an appraisal of possible events. Outcomes and performance is not guaranteed. The investments listed may go up or down in value, and they are not suitable for all investors. Securities offered through Ensemble Financial Services, Member FINRA (formerly the NASD, SIPC).