At Galean Financial we help our clients come up with a retirement strategy so they can focus on their life goals. To accomplish this, we first get an understanding of the client’s cash flow and goals. We then create a Bucket System to help clients visualize and understand how their money is divided and distributed.
Holds money that is used for base and essential living expenses in retirement such as food, shelter, taxes.
Holds money for lifestyle expenses such as vacations, gifts, dining out, entertainment, donations.
Holds money for emergency and protection such as funds for insurance (health, home, car, disability, life or long-term care) and unexpected expenses. At retirement, the amount of cash saved should be equal to one-year of your base living costs.
Once your buckets are established, we will determine how to fill them. We will balance the money saved for retirement between the buckets by crafting a customized diversified portfolio with several distribution choices during retirement. As you work to fill your buckets, we will continually monitor and adjust as needed.
Money from the buckets may grow over time and help you work towards your retirement goals.
Determine Your Optimal Risk Tolerance
I will have a better understanding about the amount of risk needed to meet your financial goals.
Guide you through the emotions of the market
Reviewing
I will review your current life insurance policy to make sure you have the appropriate policy that best aligns with your objectives.
Identifying
If you do not have a life insurance policy, I can help you decide if you need one, and if you do, then I will help you find a policy that meets your needs.
Long-Term Care
When it comes time to retire you may have a lot of questions involving you plan so let’s begin discussing your options now.
Reviewing
Your investment strategy and ensuring you are investing your wealth in the stocks that best align with your objectives.
Optimizing
Your spending habits so you continuously make decisions that benefit your broader financial picture.
To learn more about the plan, you can visit the UT System Retirement Program by clicking here.
Before enrolling online, be prepared to provide the following:
Verification Number: 225208
The name of each person you want to designate as beneficiary
At the conclusion of the enrollment process you will have the chance to review and confirm your entries before submitting your enrollment information. An email confirmation will be sent to the email address you provide upon completion of the enrollment process. In addition, a separate confirmation of your enrollment will be mailed to the address you provide. This confirmation will include a default PIN number you will need for accessing your account online.
You will use the UTRetirement Manager website to make your contribution election for your new account and you can also use the site to stop or change your contributions at any time. By clicking on the Contribution Election button below you will be taken to the UT System Retirement Program webpage. There you will find a link to the UTRetirement Manager website and instructions to login and how to use the site. If you have questions about determining an amount to contribute to your plan or for assistance with your contributions, please give me a call at 713-881-8735.
Would you like to consolidate your retirement accounts? Consolidating your retirement savings into a single account is one of your options that could help simplify your financial life. We can provide the administrative support to help set it up and inform you of your options. To get started you can securely upload statements of your existing accounts below, or send us a message by filling out the form at the bottom of the page.
Portfolio Value |
|
|
|
|
From - To |
Annual Advisor Fee |
First |
$0 - $250,000 |
1.15% |
Next |
$250,001 - $500,000 |
1.15% |
Next |
$500,001 – $1,000,000 |
1.15% |
Next |
$1,000,001 - $2,000,000 |
1.05% |
Next |
$2,000,001 - $5,000,000 |
0.95% |
Next |
$5,000,001 - $10,000,000 |
0.85%
|
Next |
$10,000,001 and over |
0.75% |
*The financial planning fees (fees) described above may increase or decrease depending upon the complexity of your individualized financial plan or the assets upon which your financial plan is based. Financial plans are sold pursuant to a Financial Planning Agreement (FPA) between Voya Financial Advisors, Inc. (VFA) and you, the client, pursuant to the terms and conditions contained therein. Please consult the fee listed on the FPA for the fee applicable to your financial plan. In the event of a discrepancy between the fees listed above and the fee listed on your FPA, the fee listed on your FPA will control.
Now. The market is always fluctuating. The goal is not to be aggressive and invest all your money. Invest a planned amount for retirement and other goals and stay the course.
Historically stock outperform bonds in the long run, however they fluctuate with the market. Also, stocks are not the only investment option. Depending on your goals I can customize a plan with diversified investments.
At least 6 months of living expenses in cash for emergencies or unexpected costs if single. At least 3 months of living expense if married and both spouses working.
Clients with many years before retirement should be aggressive with their investments. For example, investing 80% in the stocks and mutual funds and 20% in a fixed account or bonds maybe be appropriate for someone who has a higher risk tolerance and has many working years ahead before retirement.
Review your 401(k) statement with your financial professional. Update your risk tolerance questionnaire and request a personalized investment strategy.
Create a financial plan. In the financial planning world, age 59 ½ is what we call a triggering event. It’s time to create an income strategy for retirement and to put it in place. Doing so will help ensure you can retire even if the market does not cooperate.
Reduce your expenses. Set-up a budget and track your spending to stay within your budget. We can offer online tools to track your spending and send automated alerts to keep you within budget.
While every conversation is different, you should expect to cover some general information and get a sense of what it is like to collaborate together.
To help prepare for our meeting you need to have a basic idea of your current financial goals. Do you have any financial concerns? What do you hope to accomplish in the next few months and what do you hope to accomplish long term?
2925 Richmond Ave, Suite 1200
Houston, TX 77098
Monday - Friday
9AM - 6PM
jennifer.kim@voyafa.com
713-881-8735
281-962-5917
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