“Tell me and I forget. Teach me and I remember. Involve me and I learn.”
The path to financial independence is covered with jargon, buzzwords and complex scenarios that are often difficult to comprehend if you don't work in the industry. But our job as your trusted partner is to help you see through the financial fog. In clear terms, we'll teach you the benefits of each option that's presented to you as we create your financial future. In effect, we are your personal financial and retirement planning tutor.
Here’s how a few lessons could unfold:
Lesson 1: How to Save for Your Children's College Education
Take, for example, saving for your children's education. There are numerous options you could employ for accomplishing this goal. We'll teach you the benefits of a 529 plan. Can grandparents contribute, and what are the best instruments to facilitate this?
If grandparents do contribute through a 529 plan it's better to give the money in the student's third and fourth year. A gift in the first two years of college must be reported as income, which will decrease eligibility from FAFSA awards.
Lesson 2: How to Choose the Right Stock Option Grants
Many of our clients are eligible to purchase company stock at a discounted rate where they work. We'll teach you how to assess the benefits of these plans, and we’ll even fill out the paperwork and submit it on your behalf to your employer. We'll also share our knowledge on when is the best time to exercise sizable stock option grants. And what about taxes?
Lesson 3: How to Time Your Charitable Giving to Benefit all Parties
If you are charitably inclined, we'll teach you that giving is just another component of income planning. We'll help you understand what assets to give charitably, what vehicle to use to give charitably and when to give the gift. These three aspects of charitable giving are foundational to TruNorth’s philosophy. The goal is to benefit your charity, and you!
School is Now in Session
As your financial plan takes shape with us, we'll "teach" many lessons. The good news: You won't have to take any tests. Our Certified Financial Planners® know the what, and we'll teach you the why.
What’s your TruNorth?