Abacus Financial Services

Again, briefly stated... Abacus offers a life-centered approach. Every major transition such as marriage, starting a family, buying a house, changing careers, or approaching retirement involves complex financial decisions.

We'll consider the net effect (overall financial impact) of multiple influences before making recommendations. As professionals we serve as your personal finance guide, helping you navigate life's various money decisions. With pride we help overcome client concerns in order to make life simpler.

To illustrate, let's apply this process to a universal and relatable long-term example, retirement planning....

A comfortable retirement just doesn't happen, it's a deliberate lifelong effort. The earlier you start, the better. You'll need to consider your current age, timeline, even the tax implications involved. What about anticipated major expenses along the way? Will there be a shortfall...?  What's your capacity for risk, not risk tolerance? They're two separate considerations when addressing a possible shortfall. How about the after-tax result on employer-sponsored assets...? When considering these questions and others, the retirement realities where we generally assist usually involve three area's: Cash-Flow, Flexible Assets and Guaranteed Sources of income....

Cash-Flow Assets

This area is all about maintaining and/or protecting cash flow now and during retirement. Things like employment, having rental property, even cash-value life insurance all fall under this category. Identifying future cash flow is key, outlining a "Cash Flow Plan" is worth considering to build "Flexible" and "Guaranteed" assets going forward. Planning should be self-directed though. Why...? Because even though professional guidance will probably be necessary, important actually, it's you, and only you, that determines what's in your best interest.

Flexible Assets

Your Employer-Sponsored Retirement Plan, Brokerage Accounts or other liquid Non-Employer Savings and Investments fall into this category. When considering retirement and your Employer-Sponsored assets, there may be a need to develop additional strategies using Non-Employer assets to counter shortfalls created over the longer term. Shortfalls generally occur when various life events impact your ability to save for retirement, such as... buying a home, college tuition or taking care of an elderly family member. They’re called flexible sources because you can influence when, where and how much you withdraw or generate depending on your tolerance and capacity for risk.

Guaranteed Assets

This group is made up of assets with a fixed payout, such as Social Security and Employer Pension Plans. The goal is to have these assets produce enough monthly income to cover housing, utilities and grocery expenses (HUG) during retirement. It’s no secret that pension plans are becoming scarce. So this may be why some people explore certain annuities as a pension replacement, especially if they are risk-averse. Annuities are complex, there are many options available and your need for professional assistance will be elevated during that process.

Success lies in the ability to identify the shortfalls…

While it’s true that identifying shortfalls is critical in retirement planning, it's only one piece of the puzzle. There may be other concerns. We utilize our ability to coordinate internally to review potential issues relevant to services requested. For example: when considering tax implications by using IRS Enrolled Agents or perhaps a CPA when accounting and other business interests are involved. Also, if assets are substantial enough to be concerned with estate planning, an attorney. Additionally, product options (when needed) are researched and suggested by investment or insurance professionals for your consideration.

We offer one-stop access to licensed professionals to address tax, accounting, investment, insurance, estate and/or succession planning issues as required. Individuals hire a professional because they have the knowledge, skill, ability and tools to provide the services needed, which allows practical experience to become a technique that sharpens the tools of their trade. We build solutions for both individuals and small businesses, which includes home-based businesses as well.