“When considering financial planning,” says Ron Braun, President of the Michigan office of Vantage Point Financial, “make sure you seek out a fiduciary as they are required to put the client’s interests first.” Another important consideration is to find an advisor who specializes in retirement planning, as retirement has specific risks and strategies that differ from when you were accumulating and growing your assets.
At Vantage Point, which has offices in Farmington Hills as well as in Illinois and Missouri, says Ron, “We are fiduciaries who are dedicated to leading clients to a retirement that is beyond their expectations.” Working with his son Jeffrey, who is also a fiduciary and financial advisor, Vantage Point uses a holistic approach that combines and integrates six areas of financial planning: Goal Planning, Income Planning, Investment Management, Tax Management, Health Care and Insurance Planning and Legacy Planning. “Each of these areas impact each other,” Ron explains, “so if one is neglected it could result in problems with other components of the plan.”
“You can’t have a plan that is ‘set it and forget it’” says Ron, so Vantage Point provides their clients with a written plan incorporating all six areas that is regularly reviewed and updated. “Life, financial markets, and the economy all change over time and a good plan must adapt and modify accordingly.”
Be sure to remember the non-financial issues also. “Where do you want to live, and how do you want to spend your time? The first six months of retirement can feel like an extended vacation, but then you must have a routine and a lifestyle to settle in to. Additionally, it can be an adjustment for a spouse who has been home to all of a sudden have her partner around 24/7. Frank and open discussions before retirement can be helpful to set expectations and develop a plan together.”
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Leading clients to a retirement that is beyond their expectations.
