Healthcare Planning
A financial plan would be incomplete without factoring in healthcare needs.
Seven out of ten retirees will need some sort of long-term care assistance, yet few retirees have a long-term care plan. During the three-year span that long-term care is needed on average, a retiree could easily spend between $144,000 to $288,000 on long-term care costs. A married couple could have over a half-million dollars in health care costs to cover.
As an independent insurance professional, MARSH can help you navigate the ins and outs of factoring healthcare into your customized financial plan. We consult on health savings accounts and Medicare cost minimization while helping you plan for long-term care funding.
Work with a Financial Planner to Achieve Your Financial Goals
Certified Financial Planner & CPA in
“If you don’t know where you are going, you’ll end up someplace else.”
– Yogi Berra
As we began to approach retirement, we realized that we had no idea whether we were prepared to make that important decision. Our funds were scattered. We had great anxiety as we looked ahead. The MARSH team calmly and methodically worked with us to put together a plan for both the short and long term. The team listened to us every step of the way and addressed our needs. Guess what? We have now retired and have confidence in our financial future! Thank you MWM.
Andy W. and Karen N.
Client, not paid
Income Planning
As you approach or enter retirement, even a sizable 401(k) or other retirement account does not equate to a plan. MARSH can help you develop a strategic retirement plan that will provide you with investment income after you are no longer generating employment income. Said another way, income planning is about making your money work hard for you after you’ve worked hard to earn it.
Using dedicated Social Security maximization software, MARSH can identify your optimal Social Security claiming strategy. We then build a personalized Retirement Income Plan to determine sustainable spending goals over various life expectancies, using your current assets and savings rates and applying inflation factors and estimated investment returns.
Investment Strategy
You’ve spent much of your life saving for retirement. Why take unnecessary financial risks now? The experts at MARSH will guide you through the development of a retirement plan that will bring you peace of mind. We help you weigh risks and determine what’s right for you and your family.
Your plan will include an investment bucket strategy that categorizes your assets for Now, Soon, and Later while honoring your risk preferences. This process involves carefully timed and planned transitions within each phase of the money cycle: Accumulation, Preservation, and Distribution, all with an eye toward minimizing your tax burden and ensuring you are prepared to weather market volatility.
Tax Optimization
The skilled CPA-fiduciary team at MARSH is well versed in Roth IRA strategies (including back-door Roth conversions that aren’t subject to income limitations), tax-efficient order of withdrawals, RMD and QCD rules, legacy tax planning, and more. We can give you tax advice in conjunction with proactive tax planning, a combination that few investment advisors can provide. We will assess the tax-efficiency of your current strategy and outline the most tax-efficient order of asset withdrawal during retirement.
Your Personalized Tax Plan from MARSH will help you approach and organize your assets proactively so you can keep more of what you’ve earned. Expiring tax cuts, a stressed Social Security system, and a ballooning national debt are likely to push tax rates higher, eating into your savings and using up your money faster than you expected. The CPAs at Marsh can advise you on the most tax-efficient order of withdrawals to minimize your tax burden.
Some of our tax-smart strategies are simple; some are more complex. But all share the goal of minimizing your taxes. Because you shouldn’t pay any more in taxes than you have to.
Legacy & Estate Planning
At MARSH, we listen to your legacy goals, review beneficiary designations, and make recommendations from a tax and probate perspective. We will work with you to disarm potential landmines that your heirs could face in the future.
We find that our financial planning strategies work well for people who have saved at least $500,000 in investable assets. We offer an in-depth financial planning process that yields a fully customized plan to help you reach your personal financial goals — whether that’s saving for college, purchasing a vacation home, or taking an early retirement. Our integrated financial plans cover the following five key financial areas. Keep reading to learn more about each area of financial planning, or select from the list below.
