We've wrapped up our spring client financial review meetings where we updated everyone's financial projections, discussed investments and savings (or distributions), and reviewed your home and auto insurance coverage. If you weren't able to schedule yours during the February-April time frame, we have a few meeting times available in early May. You can also ask that we cover these topics during your summer or fall meeting with us. [We'll be sending scheduling links out for these meetings soon.]
Most of our clients sent in their tax returns for us to review for tax planning ideas and also to double check that areas that we are involved in (e.g., TD IRA contributions, conversions, or distributions, 1099s from capital gains from your TD Ameritrade accounts) were accounted for appropriately on your tax return. While not guaranteed, we get giddy with excitement when we find overlooked tax deductions. We are also available if you have questions on preparing your tax returns or even making the most of tax planning opportunities during the year.
If you haven't already, please send us your completed tax returns and we'll prepare a summary report with observations and recommendations for you. Later in May, we'll be setting up tax projection worksheets for use for making investment recommendations and tax planning for the rest of the year.
We continue to increase our use of the excellent cash flow tools in the eMoney software. These include current and future projected income and expenses and how your finances and future decisions interact with one another. Set up a call with Courtney if you want to dive in more deeply on your own exploration of where your money goes each month.
Debbie will be out of the office from May 25th through June 10th to spend time with grandchildren (who for better or worse live in Germany). Irina, Kim, and Courtney will be monitoring email communications and providing client services. And of course I'm only a phone call away.
In June, we'll turn our attention to client investment portfolios and, for our retired clients, creating "retirement paychecks" through IRA distributions and annuities. These topics are on the agenda for our summer investment meetings (June 21-July 14).
Also coming up in late May and early June, we'll be hosting two speakers who specialize in annuities via two separate zoom webinars for all our clients. Be on the look out for a scheduling link coming to you via email in mid-May. We believe that annuities can play a key role in guaranteed income and adding security and peace of mind for your "retirement paycheck." Learn more about annuities and ask questions directly of our expert speakers. Then during your summer investment call, we can further explore whether an annuity is right for you.
We are already planning our fall financial review meetings (September and October). Topics will include updating your financial plan, integrating more specific cash flow projections into your retirement projections, yet more tax planning, preparing an investment review update, and a discussing our review of your life, long term care, and/or long term disability insurance coverage. Before our fall meeting, we'll send out an inventory of what we know about your current insurances and ask you to provide us with updated/corrected information. Then we'll explore with you whether you would benefit from adding (or even subtracting) insurance coverages.
The fall meeting time also overlaps with employee benefit open season as well as Medicare and Health Care Exchange open enrollments for clients obtaining health insurance through these programs. Be sure to bring up your questions during our fall meeting - or each out via email or phone if you need advice more quickly. This is also a good time to be evaluating how much to add to your Flexible Spending plans or Health Savings Accounts.
And we'll wrap up the rest of 2022 with final tax planning, investment rebalancing, and end of the year financial planning in November and December.