Financial Planning – Solving the Puzzle

How do you know that you are financially prepared for your retirement years? Are you confident in the ability to navigate any challenge and live life on your terms?

If you answered “no” to either of those questions, you need a plan.

Planning for retirement begins with defining your goals. These may include part-time work, an active lifestyle, travel, social engagement, charitable interests, hobbies, or time with children and grandchildren. For most of us, this pleasant scenario is quickly followed by questions about how we will reach these goals – Are we saving enough for retirement? When can we retire? What are our investment, insurance, and estate plan risks?

The answers to these questions can be elusive. Complicating factors may include changes in income, level of retirement savings, current or future health challenges, tax obligations, unexpected disability, elder care costs, or additions to the family. Without the guidance of a financial planning professional to help lead you through these challenges, your retirement picture may appear to be an unfinished jigsaw puzzle; one where the pieces are not quite fitting together.

LCNB| Wealth offers financial planning services. Our analysis starts with a review of your:

• financial statements – including those from your banks, brokerage firms, and retirement account custodians
• recent tax documentation
• monthly cash flow – income and expenses
• summary of your debt – mortgage, credit cards, car loans
• insurance documents – life insurance, long term care insurance
• estate planning documents – wills, powers of attorney, trusts
• completed LCNB Wealth retirement questionnaire

With a comprehensive process that starts with in-depth analysis of your goals and your current financial situation, we will identify the missing puzzle pieces.

Some examples of our findings might include:

• Inappropriate investments, excessive fees, or an outdated asset allocation which may significantly hamper the performance of your retirement or investment accounts.
• Not considering effect of taxes when making investment or withdrawal decisions.
• An exposure to unnecessary risks which could be remedied with a proper insurance policy.
• An incomplete estate plan which may result in problems if you happen to become incapacitated or results in an unintended inheritance for your beneficiaries.

We seek to understand your current financial picture, including plans you may have with other professionals. We then develop and implement recommendations which will bring you peace of mind. Without proper planning, you may face an increased risk that your financial goals remain out of reach, leaving an incomplete puzzle for you and your heirs.