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Services

Detailed Financial Services

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Financial Planning

We believe that the road to prosperity begins with a plan. You have a much better chance of reaching your financial and retirement goals with a sound financial plan. We utilize advanced planning software to help you determine if your current path is positioned to help you attain your goals and help you develop strategies to achieve your retirement success.

Protect What You've Built

You’ve worked hard to build a solid financial foundation for you and your family. You should protect it with insurance.

Cutter Financial Group can advise you about what kind of insurance is best for you, and how much you need. We consider the structure of policy ownership to avoid estate taxes. And we can do an independent evaluation of your existing coverage to make sure you’re getting everything you need.

Income Planning

A sound plan starts by defining your income needs throughout retirement. We help you analyze and maximize your current retirement income benefits including social security and company pension plans, ensuring you have the information you need to make an informed decision.

What do you think of, when you think about retirement?  Do you think about going someplace warm for the winter, owning a beach house, visiting family and friends, or traveling the world?  Retirement is meant to be the best years of your life.  But, you need to plan for it.  With fewer companies offering pension plans and a lot of uncertainty about the reliability of Social Security, it is more important than ever to plan for your own retirement, and a sound plan starts by defining your income needs throughout retirement. 

Our goal is to help you create a tax efficient retirement income plan that includes the necessities as well as the little luxuries that make life worth living.  Additionally, we need to understand the larger expenses you plan on making during retirement such as that retirement trip that you’ve been waiting for, the downsizing of your current home or maybe even the purchase of a second home.

Once we understand the income you want during retirement, we can now look at the retirement income options you have available, starting with your employer’s pension plans.  We will advise you on your options contained within your employer’s plan, letting you know the pros and cons of these options, allowing you to make a more informed decision for you and your family.

Next, we advise you one of the most important financial decisions you will make during retirement and that’s when and how to elect your Social Security benefits.   With half of Americans 65 and older relying on Social Security for at least 50 percent of their family income, making the wrong choices when it comes to claiming your Social Security benefits could drastically change how you live in retirement.

The last step is determining how to most tax efficiently withdraw the remaining income you need from your retirement accounts. 

Advanced Tax Planning

Through our advanced tax planning process we not only review your current tax situation but also a projection of what your tax situation would look like throughout retirement. Through our advanced tax planning strategies, we not only review your current tax situation but also provide information of what your tax situation could look like throughout retirement.

Will you be in a higher or lower tax bracket when you retire?  Do you think taxes are going up, going down or staying the same?   Your retirement is too important to be based on common retirement myths.

"The great enemy of the truth is very often not the lie - - deliberate, contrived and dishonest, but the myth - - persistent, persuasive, and unrealistic. Belief in myths allows comfort of opinion without the discomfort of thought." - John F. Kennedy

What is your current tax plan?  Do you have one?  If you’re like most retirees, you probably haven’t even considered what your taxes could be in retirement or you may be making the common assumption that you’ll be in a lower tax bracket when you retire.  And if you have voiced this concern to your financial advisor, they probably told you talk to your “tax advisor”.  The problem with this approach is your tax advisor’s primary concern is to

reduce your taxes today, after all, that is how most people determine if they have done a good job.  See, most tax advisors haven’t been properly trained on retirement taxes and how to look at what your future tax liability could be.

As a CPA with a Master of Science in Taxation and a Master Elite IRA Advisor under Ed Slott, America’s Leading IRA Expert, I’ve been trained on how to best manage and minimize taxes both now and during retirement.  Ed Slott can often be heard saying “Taxes will be the single biggest factor that separates people from their retirement dreams.”  Those of us who have saved the most will be the best customers for Uncle Sam.

The question you need to ask yourself is do you want to control your taxes or do you want to be controlled by your taxes?”  The choice is yours.

Legacy Planning

You’ve worked hard over the years to build your assets.We will discuss how to use insurance strategies to help ensure your financial future from unexpected expenses and life events.

Legacy planning is for everyone, not just the very wealthy, yet it is often the least understood part of the Financial Planning process by most advisors.  Wouldn’t it makes sense to work with a CPA and Personal Financial Specialist who has been trained in this area?

The purpose of Legacy planning is to anticipate and arrange for the transfer of your estate in the most tax efficient manner possible. Typically, Legacy planning will include provisions to eliminate uncertainties over the administration of a probate and maximize the value of your estate by reducing taxes and other fees and expenses.

The process begins with obtaining a clear understanding of how you want your assets to pass to your desired beneficiaries, including those with special needs or charitable causes.  We will then review any wills and trusts you currently have in place to determine if they match our understanding of your wishes. If there are discrepancies between your wishes and your current estate planning documents, or you simply don’t have the appropriate estate planning documents, we will work with your attorney or can recommend one to help you correct these deficiencies.

You have worked hard over the years to build up your assets.  We will help you develop strategies for a safe and tax efficient transfer of those assets to your desired beneficiaries, including those with special needs or charitable causes, leaving the legacy you desire.

Risk Management

Protecting your family wealth and future is vital. Understanding financial risks is important and being unprepared can be a significant mistake. We will discuss ways to help you protect your financial future from unexpected expenses and life events.

Congratulations, you’re finished with your financial plan, but what happens if…… 

In the final stage of the financial planning process, we’ll run your plan through several “what-if” scenarios to determine what the effect would be on your plan and review potential solutions to help minimize these effects and maximize your probability of success.

Two of the common “what-if” scenarios we will run are:

Death of a spouse: Do you know what would happen financially to your surviving spouse if you were to pass away prematurely or even at life expectancy?  What portion of your pension will they retain?  Did you realize that your surviving spouse will only retain the higher of your and their Social Security, but the lower benefit will be lost?  Did you realize that once you pass away, your surviving spouse will be subject to the “widows penalty”, now be taxed as a single individual, often resulting in a substantial increase in taxes?  These are just a few of the potential financial pitfalls that can happen when one spouse passes away.  Through our “what-if” scenarios we can see these effects and determine what actions can be taken today to lessen the devastating effects to your spouse.

Long term care:  One of the biggest concerns may not be outliving your income, but instead outliving good health.  What would happen to your spouse if you were to need long term care for a period of time?  With the median cost for a private room in a nursing home now at over $90,000 and increasing at twice the rate of inflation how many years of care could you pay before you run out of money, leaving your spouse destitute.  If you already have a long term care insurance policy, is it sufficient to meet the need.  Or maybe you have enough assets to pay for the care, but is there a better way.  Through our “what-if” scenarios we can these and other questions to determine the effects of under your current situation and looks at options that could improve your overall financial situation.

Through our risk management process we will help you prepare for the unexpected and the inevitable.

Investment Planning

With a clear understanding of your retirement income needs, sources of income and what you’re current and future tax situation looks like, we will help you establish a risk-managed financial plan designed to fit your needs and help increase your opportunity for a successful retirement. As a fiduciary, we only make recommendations that in your best interest.

Your investments should have a specific place and purpose where it fits properly into your retirement planning.  However, without a complete review of your personal situation, risk tolerance, income needs, tax situation, long-term care needs, and estate and charitable desires, no one can or should have an opinion on whether a specific product is right for you.   The discovery of your true desires and needs should be the first step, not the choice of investment products.  

With the understanding gained by going through the Income Planning and Advanced Tax Planning processes, we can now start to determine which investment options could be right for your situation and where they would best fit in your plan.  

“Rule No. 1: Never Lose Money. Rule No. 2: Never Forget Rule No. 1.” – Warren Buffet

In these turbulent times, investment management is critical, especially for individuals consider retirement in the near future or already in retirement.  A significant loss in the years just prior to and/or just after you retire can have a damaging impact on the level of income you receive over the course of your life. 

We manage investments with a 21st century approach to protect against market downturns. Instead of relying on stock selection and asset allocation to limit risk, we offer a mix of modern tactical institutional managers, hedged equity, high probability option strategies, fixed indexed annuities, structured notes & market-linked CDs that are designed to protect against the downside and succeed in all markets: bull, bear and neutral.  We seek to maintain a risk-managed approach toward investing looking at performance through a complete market cycle.

All of our investment strategies are then stress tested gauging the potential risk and opportunities before they unfold using advanced statistical relationship modeling between economic levers and our investment recommendations.  Through this advanced technology we are able to model the impact of recessions, crises, and other economic events, using historical research and analysis on how economic indicators are correlated and their potential effects on your investments.  The Federal Reserve uses similar technology when examining a bank’s balance sheet and cash flow, stress testing them under a range of economic assumptions. 

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