THE RIPPLE EFFECT OF
FINANCIAL DECISIONS
The Ripple Effect refers to the continuing and spreading results of an action or decision.
There's a pattern! There are five main financial decisions and making those decisions as part of a coordinated plan will have a dramatic impact on your retirement.
The Ripple Effect refers to the continuing and spreading results of an action or decision.
There's a pattern! There are five main financial decisions and making those decisions as part of a coordinated plan will have a dramatic impact on your retirement.
Donald Cooley
Series 6/65, Life and
Long-Term Care,
RICP/CDFA
Get your Free Financial
Consultation Today!
"Let’s chat about your goals —
and what you want your outcomes to be! "
Donald Cooley
Series 6/65, Life and
Long-Term Care,
RICP/CDFA
Get your Free Financial Consultation Today!
"Let’s chat about your goals — and what you want your outcomes to be! "
What is the pattern and why should you take a coordinated approach?
At Home Decisions, we believe most families would be well served by focusing on making the best decisions possible in their five main core, foundational areas.
Home Ownership
Life Insurance (and Long-Term Care!)
Retirement Investing
Retirement Survival
Estate Planning
In addition, it’s imperative to understand the relationship of how decisions in one area can affect the others and how individual "advisors" may have competing intentions.
The 5 Foundational Steps of Main Street Americans
Home Ownership: It’s foundational and where many people start their wealth journey.
Life Insurance: With home ownership comes the responsibility to protect your family's future.
401k's and IRA's: This is where the majority start their retirement investing journey.
Retirement: It's crucially important to make the best decisions before you get here.
Legacy: What do you want to leave behind?
Additional Influential Factors to Consider: Taxes, Debt, Liquidity, Risk
Question: Are you making the best decisions possible to make it through this journey?
Questions to Consider
Home Ownership
Home Ownership is foundational. It's where many people start their asset investing. Getting this right can provide the foundation for everything going forward.
Questions to consider:
How much home should I buy or how much can I buy?
How much down payment should I make?
Should I pay off my mortgage faster?
Life Insurance
If you own a home or have a family, life insurance is a must. GoFundMe should not be the option for your family. Also, lack of long term care insurance can decimate everything you've worked for. Both are way less expensive than you might think.
Questions to consider:
Is term or permanent better for my family?
What’s my plan for paying for long term care?
What are the tax benefits of life insurance?
Retirement Investing
How did you pick the funds in your 401(k)'s and IRA’s? With long term investing, a minor change can have major results. We provide extensive experience in developing the best possible solutions for your financial situation.
Questions to consider:
What are the tax consequences of IRA's in retirement?
Can 1% or 2% interest really make a difference?
How will losses affect my future retirement?
Retirement Decumulation
When you get to this point, spending down your assets in an efficient way is an absolute must. Our team has experience in retirement income solutions to help make sure you don't run out of money.
Questions to consider:
What are my guaranteed sources of income in retirement?
What is sequence of returns risk?
How will a lack of long term care effect my retirement?
Legacy Planning
Leaving a legacy to your family can be fulfilling but will only happen if you made the best decisions before getting here. We have several partner firms if you need a referral to build your estate plan.
Questions to consider:
Will the courts make my decisions for me?
Do I have a complete estate plan with all necessary documents?
Will I still have a life insurance benefit to pass on to my loved ones??
Home Ownership
Home Ownership is foundational. It's where many people start their asset investing. Getting this right can provide the foundation for everything going forward.
Questions to consider:
How much home should I buy or how much can I buy?
How much down payment should I make?
Should I pay off my mortgage faster?
Life Insurance Protection
If you own a home or have a family, life insurance is a must. GoFundMe should not be an option. Long-term care and living benefits can be the difference between a great retirement outcome or one of stress.
Questions to consider:
Is term or permanent better for my family?
What’s my plan for paying for long term care?
What are the tax benefits of life insurance?
Retirement Investing
How did you pick the funds in your 401(k)'s and IRA’s? With long term investing, a minor change can have major results. We provide extensive experience in developing the best possible solutions for your financial situation.
Questions to consider:
What are the tax consequences of IRA's in retirement?
Can 1% or 2% interest really make a difference?
How will losses affect my future retirement?
Retirement Decumulation
When you get to this point, spending down your assets in an efficient way is an absolute must. Our team has experience in retirement income solutions to help make sure you don't run out of money.
Questions to consider:
What are my guaranteed sources of income in retirement?
What is sequence of returns risk?
How will a lack of long term care effect my retirement?
Legacy Planning
Leaving a legacy to your family can be fulfilling but will only happen if you made the best decisions before getting here. We have several partner firms if you need a referral to build your estate plan.
Questions to consider:
Will the courts make my decisions for me?
Do I have a complete estate plan with all necessary documents?
Will I still have a life insurance benefit to pass on to my loved ones??
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