25 Ways We Help Clients Build Better Relationships with Their Money
4.) We encourage better saving habits, which in turn builds a stronger financial plan and financial confidence in our clients.
Arrivity financial planners take a look at your paystubs, investments, social security statements, annuity and pension statements etc. . . and determine what money you have coming in (“Inflows”) versus what money you spend each month or plan to spend each month (“Outflows”). We can then talk through any trouble-spots we foresee and plan accordingly.
After we meet and start working on your plan, when we see savings/checking accounts or certificate of deposits (CDs) are providing lower interest and dividend rates than reliable competitors, we let you know and recommend substitutes. After we analyze your investment portfolios, if we see average expense ratios higher than we think is reasonable, we talk through some alternative investments we recommend that have lower expense ratios to remove that higher fee “drag” from your investments.
Even small expense ratios, similar to Asset Under Management (AUM) fees, can markedly reduce your portfolio returns over many years and decades. What may seem like a small percentage, like a 1% fee, can result in a decrease of 20%-40% of your ending portfolio value if compounded over multiple decades (depending on market returns).
Also, if we see there is wiggle-room or excess cash accumulating each month, we make recommendations on how to put that money to use, whether that be increasing your travel budget during your “go-go” years of retirement, opening and investing in a taxable brokerage account or maxing out your traditional or Roth IRA each year while you are still working.
Please contact us at: Contact Arrivity, 206.217.2583 or info@arrivity.com if we can assist you or someone you know with financial planning.
Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.