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Dallas
Retirement Planning
Phone:
214-505-0393
E-mail:
scott.muirhead@yahoo.com
Looking for Dallas retirement
planning services? Contact Financial Consultant Scott Muirhead to see how he can help you!
Annuity
Annuities provide
tax-deferred growth potential like qualified retirement plans,
but contributions are not tax-deductible. Annuity contracts
can be used to supplement your employer-provided retirement
plans.
401(k)
By far the most common
employer-sponsored retirement plan is the 401(k) plan. The
401(k) plan is a defined contribution plan. It allows
employees to make pre-tax contributions, and the funds
contributed plus any earnings accumulate tax deferred.
CONCEPT INTERVIEW:
The first step is to get together and discuss your situation
and our services in detail to help ensure that your financial
profile fits what we do best. There is no financial obligation
at this meeting, which will take about one-hour. Information
to have on hand for this meeting includes: a net worth
statement or balance sheet and two-years worth of tax returns.
We quote a fee to work with our clients on an annual basis,
instead of hourly, so that they know up-front what the total
cost will be and so that there is freedom for us to work
through the planning process and for our clients to contact
and meet with us. Our fee is based upon the time and
complexity anticipated with each client and is quoted in
either the first or second step.
ENGAGEMENT PROPOSAL/FACT FINDING:
In this second meeting we will review the "Engagement
Proposal" which outlines the work we will do together over the
next 12 months. And most importantly, we will gather the
necessary data to help ensure a thorough understanding of your
situation. Our goal in this meeting is to step into your
financial shoes so we can begin to understand your thought
processes. This becomes the basis for the creation of a
financial model, which is used to evaluate your current
financial situation. It will show your current asset
allocation, your net worth, the direction and rate of its
change, your cash flow, income and estate tax liability and
other items. In addition, we'll review your wills, trusts,
life and disability insurance, investments and tax returns.
This is also the time that we discuss your goals, views,
attitudes and concerns. We do not offer legal or tax advice.
PLAN DESIGN:
Step three consists of identifying problems that are present
in your current planning. This is basically a process of
reconciling the likely outcome based upon your current
arrangements, with your desired outcome (objectives) we
summarized in "Step 2." It is in this third step that the full
benefit of the planning process begins to become apparent.
Issues that you never thought of and problems that you never
realized existed will be identified - simply because your
financial picture was never so completely developed, and your
objectives never so clearly and completely stated.
PRESENTATION:
Step four entails the development of recommendations -
specific strategies for implementation. Equipped with the
pro's and con's of each alternative, and an economic model to
determine their impact, you will be in the best position to
determine which strategies are right for you. The key is to
objectively allow "no stone to remain unturned," so that you
know you are making the best possible solution for your
situation. All of our recommendations are made in writing in a
logical progression of: Objectives, Observations, and
Recommendations.
IMPLEMENTATION:
The fifth step is implementation. This is where the "team"
aspect of the planning process is fully realized, as we work
with your other advisors to help ensure the strategies you
decided to move ahead with are implemented. Then, in addition,
should you choose, we will be working on your behalf to
evaluate various investment options and products to help
ensure they are right for each of your plan strategies. We are
continually acting on your behalf as a "key to the
marketplace", whether it is through coordinating tax and
estate strategies or in the evaluation of specific financial
products, to help minimize costs and maximize value. We feel
that it is only through this "maximization of value" that we
can expect you to speak highly of our firm and confidently
recommend our services to others.
REVIEW & SERVICE:
Step six is the ongoing review process. At the end of each
year we will review where we have come to date and what needs
to be done on an ongoing basis. The majority of our clients
retain us annually because planning is a process that is
always changing. Our renewal fee is typically 50%-75% of our
then current planning fee.
Disclaimer: We are licensed to sell Insurance Products and
Securities in Texas only. This site is for informational
purposes only, and does not constitute an offer to buy or sell
any security mentioned herein. The information is subject to
change without notice, and is not intended to be a complete
analysis of a security, issuer or industry discussed, and is
not to be considered an offer or a solicitation of offers to
buy or sell any security.
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