This is the key to the whole process. The end result of this process is the roadmap taking into account your current financial picture and how we navigate forward to where you want to go. In this step we'll assist you with setting and achieving specific goals such as; saving for a particular purchase or event, maximizing your annual savings, paying off debts or establish an individualized plan for the future.
The basic steps;
- Establish and define goals of the relationship
- Gather personal and financial data
- Analyze and evaluate the client data
- Develop the plan
- Implement the plan
- Monitor the plan
Similar to the financial planning process, we will review, analyze and monitor your current retirement assets and help you project your future retirement needs and retirement income. In addition, we will assist you in maximizing your present retirement savings. For any clients who participate in their employer sponsored 401k, we would be happy to make any recommendations as to an optimal allocation based on the options within your plan as well as a plan for distributions.
Omega Capital will happily make any recommendations regarding Wills, Powers of Attorney, Health Care Directives or Trusts that we can and since we are not licensed attorney's we do not prepare any legal documents. We will happily work with your attorney. We will be glad to refer you to a qualified estate planning attorney if requested.
We will review and analyze your current life insurance policy(s) to ensure you have the proper amount of coverage as well as the proper type of coverage. In addition, we will review your policy(s) to make sure that your current life insurance policy(s) are performing as expected and provide you with the coverage that you require.
We will work with you in analyzing your current college savings strategy and will be happy to help you begin or even modify your current strategy. In today's world with the annual cost of college continuing to rise, the best offense we have is to start saving and save wisely.
We will run a cash flow analysis to help you determine how much you can afford based on your income, down payment, interest rates and your current financial obligations. We will also help you identify what type of mortgage is best for you based on your finances, your timeframe and your objectives.