From: The Desk of Bill Lethemon
Is your hard work and career success moving you closer to your financial goals?
As you accumulate more wealth, your financial life often becomes more complicated and its hard to know if you’re making progress towards the financial goals that are most important to you.
With busier schedules and more responsibilities at work, sometimes we find ourselves not paying as much attention to our personal finances as we would like.
After all, there is a lot that we need to know and keep track of
… and it just takes a lot of time.
If you’re like many of my clients before they started working with me, then all of this might have you feeling overwhelmed or maybe even a little stressed out.
And while you may see your assets growing, you may be wondering if you’re on the right track, or if you’re making any mistakes.
Your financial life has a lot of moving pieces and you need to have a system that brings it all together, so you can feel confident about the decisions you’re making with your money.
Some questions you may be asking yourself…
If you have ever felt like you’re just spinning your wheels, or have questions like these, I can help!
4 One-on-One Meetings with Bill
Including a 90 Minute initial plan presentation meeting plus 3 one hour follow up meetings to really dive deep into your plan, answer all of your questions and get clear actionable ideas.
A detailed written summary after each one of your meetings with Bill with any action items, to-do’s or recommendations clearly bulleted out.
Lifetime Access to the Retirement Time Machine Video Library
12 Months Access to Money Evolution Elite
Ready to get started? Schedule a FREE, One-on-One, 30 minute Intro Call to learn more about The Money Evolution Plan!
If you’ve ever felt like your finances are getting more complicated to keep track of and maybe you’re a little unsure as to how all of these different pieces fit together into your overall financial strategy…
We will help you bring together and organize all of your financial resources through a very detailed and comprehensive fact finding process to help you organize all of your financial information in a way that’s simple and easy as possible.
Our team will work with you to help you gather and organize your financial information so that we can build your plan with the greatest accuracy.
Your plan will be built into the advanced planning module of the eMoney Financial Planning Software. I’ve been in the financial planning world for over 30 years, and hands down I think this is the best planning software on the market today. Especially when it comes to its what-if modeling capabilities and the high end income tax planning features.
Working together one on one, we will guide you through the financial planning process helping you create your map with actionable ideas and strategies to take you from wherever you are today towards your most important financial goals.
With everything organized, and a clear map, we can begin to explore what financial dreams are truly possible.
Understanding where your money goes and being able to accurately forecast how your cash flow changes over time is critical to creating a plan to optimize your financial resources.
Money Evolution Plan provides a detailed map of money coming in and money going out, year by year, over your lifetime.
Here’s just some of what we can help you map out in your Cash Flow Projections
Understanding your cash flow can help you to be more efficient with your money and to identify new savings opportunities and plan for retirement gaps.
No one wants to pay more taxes.
The problem with most tax planning, is that it’s often just focused on your short term tax strategy. How much you might pay in taxes this year or maybe over the next couple of years.
To really create an effective tax plan you need to understand not only your current tax situation but how your taxes could change over time.
Money Evolution Plan will help you forecast your current and future tax rates, so you can take specific actions that can save you taxes over your lifetime, not just for the current tax year. Something most CPA’s are not even doing for their clients.
Throughout our meetings together, tax planning will be incorporated into every aspect of your plan. Always asking the question, how will this affect my taxes. You will receive specific recommendations and actionable ideas that can help you save money on your taxes.
Income taxes are complicated. Different sources of income, have different rules and different tax rates.
W2 Earnings, Business Income, Dividends, Long and Short Term Capital Gains, Social Security Income, Selling properties or your Business, Stock Options, Restricted Stock, Deferred Comp Payouts just to name a few.
You need a plan to map out these different sources of income to understand how each affect your actual taxes, and the deductions you can take to offset that income.
Understanding this will help you to see how your tax bracket could change over time.
Will you be in a higher or lower tax rate in the future, and what are the levers we can pull that can have an impact on your taxable income?
While we may not be able to help someone completely avoid taxes we can help develop timing strategies to shift your income from years when your income tax rates are higher to years when it may be lower.
Here are just some of the things we can help you do with your tax strategy…
When you’re saving and investing for retirement the only thing that really matters is your long term average rate of return. In fact, market volatility can actually work to your benefit as you’re often able to buy more shares of your investments at cheaper prices.
However, as you approach retirement, something called the sequence of returns is often more important than the average of your returns.
Especially if you experience flat or negative returns in the early part of your retirement, this could lead to the possibility of running out of money.
We will help you create a detailed Retirement Withdrawal Strategy Including…
As we work through your plan, we will address and provide detailed written recommendations to help you with every facet of your financial life.
Working collaboratively on your plan we will be working out ideas, strategies and recommendations in real time!
With each scenario we model, we are able to show the impact on your plan in a number of key areas based on our assumptions…
Here are just some of the Things we can Explore…
Buy/Sell Real Estate Transactions. Showing a detailed analysis of expenses of one property vs. expenses on a new property, including transaction expenses and showing the pay off of one mortgage and taking out a new one.
Moving to a new State We can show how your taxes could be affected by new state tax rates and rules and help you develop a strategy to best optimize that change in tax rates.
Roth Conversions. Learn what tax bracket you should be targeting for your conversions and how much you can convert before going into that next bracket. Know what to expect to pay in taxes, both Federal and State, on your conversions, so you can properly plan. Understand the potential long term positive impact that Roth Conversions can have on reducing your total lifetime taxes.
Stress Testing We can show you how a period of high inflation, or a stock market crash could impact your long term retirement goals and determine if there are any adjustments that need to be made.
Premature Death Explore how the loss of a family member and their income could negatively impact the ability for family survivors to be able to continue to maintain their lifestyle, and discuss what strategies to have in place so that they’re protected.
My goal is to provide confidence and clarity to all of your most important financial goals with actionable ideas and strategies to help you really get the most out of your financial resources and get prepared for your retirement. I am confident that I can do that for you and that you’re going to love your plan.
However, if for any reason at all, after our first two meetings together, if you are not 100% happy with your plan, just email my personal assistant at Angeli@MoneyEvolution.com and I will refund 100% of your financial planning fee. No questions asked, super simple.
Seriously, If it doesn’t work for you, we don’t want to keep your money.
Ready to get started? Schedule a FREE, One-on-One, 30 minute Intro Call to learn more about The Money Evolution Plan!
Here are some of the most common questions I get asked regarding the Money Evolution Plan…
If you don’t see your question answered here, don’t worry, I can probably answer it on your free no obligation introductory call
The call is not designed to answer any specific questions regarding your individual financial situation.
If you really are just starting out, then honestly the Retirement Time Machine may be the better option for you. However, if you want a little more help getting it all together and personalized recommendations then the Money Evolution Plan may still be a good fit. If you’re unsure, just schedule a free call with me to see what makes the most sense for you.
That’s a hard question to answer only because there are so many different types of plans ranging from the ultra basic to the super advanced.
Our plan falls into the super advanced category really diving deep into the details.
Money Evolution Plan is a stand alone financial plan, not a plan to sell you our investment services. Which means that you can take our recommendations and implement them wherever you decide to keep your money. Often, I hear stories about people going in for a financial plan, only to receive a proposal that sells the advisors investment services.
Our planning software uses what is known as cash flow based financial planning. This differs greatly from “goals based planing”. So if you’ve ever done one of those basic plans, you probably noticed that it lacked the specific detail.
In the hundreds of plans that I have done just over the past couple of years that has never been the case. Doing that many plans has made me very good at using the software and really making the most out of our time together. In some cases, I will go over our allotted time together, if needed, to make sure all of your questions are answered and you walk away with a solid plan.
That’s a great question! For many people the Retirement Time Machine may be all that you need. It really is a great program that goes deeper than many other alternative options. However, if your situation is more advanced, the Money Evolution Plan is the way to go. Here’s a few situations where the Money Evolution Plan makes sense.
You don’t want a DIY plan, you want someone to build your plan for you and personally walk you through every step of creating your financial plan.
Questions answered by a retirement and financial planning expert with written summaries and an exact next step action plan.
You have a net worth greater than $2 million
Want detailed recommendations one how much Roth Conversions you should do each year, with reports that show long term projected outcomes on tax savings, asset values, and future tax brackets
You want to plan and illustrate the sale of a business and show tax implications, changes to cash flow etc.
You plan to move to a different state and want plan for changes to your state income taxes and how that affects current and future decisions such as what types of accounts to save in and Roth Conversion opportunities
You have buy/sell real estate transactions, and want to see how that affects your cash flow and tax situation. Such as downsizing or upsizing your home. Buying a second, third etc home.
Advanced reporting for business and real estate income.
Running advanced what if scenarios, such as premature death, High inflation, financial market crashes and other stress tests to your plan
Your CPA or tax preparer may be great at making sure that your tax information gets on the correct lines of your tax return, and maybe some advice on how to minimize your taxes for the current year or maybe even the next couple of years.
What CPA’s typically lack is the ability to do long range tax forecasting. That’s because there are so many moving pieces and variable that go into that.
To really understand what your future tax rates are we need to know, not only how much money you’re making, but also how much money you’re saving. What types of accounts that savings is going into, and as you go into retirement, where and how much you may withdrawing from your portfolio accounts. All of this will have a direct impact on your taxes today and into the future.
The only way to really do this accurately is through advanced financial planning software. Thats what we do!
Unfortunately, no. Even though I probably could answer a few general financial planning questions, most would require having the detailed plan to really give the best advice. For general information, you can check out my YouTube Channel or my DIY Retirement Planning Program, The Retirement Time Machine.
That’s ok. Many of our financial planning clients are already working with an advisor that they are perfectly happy with. The strategies and recommendations can be implemented wherever you choose to keep your money whether that’s with a financial advisor or if you do your own investing.
Chances are, like a lot of our clients, you may have been putting off doing a financial plan because the timing just wasn’t right. One thing, that I can honestly say is that, for most our our clients, I wish we had met sooner to do their plan, because in many cases we missed out on some powerful strategies that could have really made a big difference even if we started just a year or two sooner.
Copyright Money Evolution – 2023 – All Rights Reserved
Financial Planning Services offered through Money Evolution LLC, a Michigan Based Registered Investment Advisor and separate entity from LPL.
Investment management associated with this site may only discuss and/or transact securities business with residents of the following states: Securities: AR, AZ, CA, CO, CT, DE, FL, GA, IL, IN, KY, MA, MD, MI, MS, NC, OH, SC, TX, VA, WA, WI Insurance: FL, MA, MI, TX and WA.
Securities and advisory services offered through LPL Financial, a registered investment advisor
Check the background of investment professional associated with this site on FINRA Brokercheck