Gabe Fransen | April 22, 2025
As financial advisors, We believe a clear financial plan can help anchor a family’s future, not chasing wealth or making bold predictions, rather making thoughtful choices that align with your goals. We think of it as a roadmap, guiding families through life’s changes while keeping priorities in focus. Here’s a look at some of what we believe the key pieces of financial planning are to help families move forward with confidence.
We believe money is a balancing act. Spend too much today, and families might come up short in retirement. Save too much, and families could miss out on the moments that make life fulfilling—like a family vacation or an enjoyable dinner out. We believe a good plan helps you thread the needle, letting families enjoy the present while tucking away enough for the future. We believe it is about living well now and later. We consider taxes a piece of the puzzle that are often changing through the legislative process. They may quietly chip away at your savings, especially when starting to draw income in retirement. There are several different tax classifications or types that have different tax implications and understanding how those work may benefit your financial future. Whether the financial portfolio includes IRAs, Roth’s, Non-Qualified accounts, Inherited assets, etc.. can affect what you owe and when. Tax efficient strategies, like Roth Conversions, Tax Loss Harvesting, Social Security Benefit election strategies all can help to keep more in your pocket.
Investing is where many may feel the weight of their decisions most. It may be tempting to chase hot stocks or hide in ultra-safe options, but neither extreme may be best for your situation. Spreading your money across different strategies and investment options, tailored to your risk comfort and timeline, may set a steadier course. Younger folks might lean toward growth, while those nearing retirement may shift toward stability. We believe the key is staying true to your plan, not market buzz. Market volatility may test your resolve. When the market dips, the urge to change course can be strong, but we believe reacting on emotion can backfire in some scenarios. We believe a well-built plan acts like a guardrail, keeping you steady. If the ups and downs feel overwhelming, it may be a good time to review your investments to find a blend that is more suited to your risk tolerance or risk capacity. Portfolio’s may need occasional tuning. Over time, some assets may grow faster, potentially throwing your balance off and adding unintended risk. We recommend yearly financial reviews or check-in’s to review current financial situations and confirm the financial plan is on track to meet the families goals and objectives.
Inflation has been a hot topic in recent years, but we often see it being overlooked in long term financial planning. What one spends today for daily living is often much more when looking a few years down the road. Typically everything from groceries to healthcare gets pricier. At an historical average of 2-3% (30 year average based on CPI is 2.5%) a year, it adds up. We believe long term financial plans should assume rising costs, especially in retirement.
We believe that Insurance is a safety net and is often not marketed or sold appropriately. Paying for coverage you don’t need may drain resources unnecessarily. Also, being underinsured on essentials may leave families exposed. As life and family situations evolve your policies may need to as well.
Lastly, one area that may not be discussed or considered early on is the legacy you want to leave behind. Without an estate plan, your loved ones could face confusion or conflict when you’re gone. We believe a simple will, power of attorney, and updated beneficiary designations go a long way to clarify your wishes. As life shifts through marriage, kids, or other changes, revisiting these may help ensure your plan stays relevant. Estate planning may spare your family from big headaches and challenges down the road.
We believe that financial planning, at its heart, is about clarity. It may be a tool to help you focus on what matters—whether that’s retiring comfortably, funding a child’s education, or leaving a legacy. We don’t believe in the set-and-forget; life changes, and we believe your plan should adapt.