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The philosophy behind lifecycle financial planning is simple: Maintain a basket of financial and insurance products, adjusting them as your needs change. But not so fast!
the cain & osborne difference
Lifecycle money management is not new. But at Cain & Osborne, we’ve improved on the concept by structuring your financial plan so that the income from your assets never runs out. Most plans are structured to care for you until age 90. Ours go to 100 and beyond. And if you want to live beyond 100, we can certainly work with you in planning for that too!
You face many challenges that necessitate protecting your savings so you won’t outlive them:
- Government retirement benefits that were never designed to provide a full retirement income
- The reduction in the availability of defined benefit plans from employers and the precarious state of employer-funded retirement plans
- The erosion of buying power through inflation
- The possibility of a market downturn when you most need your assets
- The increase in life expectancy and the rising costs of providing comfortable health and living care as we age.
With our guidance as your financial planners, you’ll be able to make choices about earning, spending, saving, insuring, and investing. Our six step process involves you in your financial plan through every stage of your lifecycle.
The Wealth Creation Process Makes Sense
Wealth creation drives the process that Cain & Osborne Associates maintains throughout your lifetime. You won’t hear trumpets or gongs at the end of each step. Well, maybe you will! As your financial planners, we treat this process as a relationship between you and your investments and your advisor.
Plan Your Trip of a Lifetime
So you’re off to Barbados? How much time did you spend picking the right hotel, researching the sights, shopping for new clothes, and booking your flights? All for a one-week get-away. Now think of your retirement as a holiday, one that can last decades. Take the time you would spend to plan your holiday and apply it to the time you need to spend planning for your retirement. Then multiply that figure by as many weeks as you’ll be retired! Now that’s planning!
Step 1: Determining Where You Are
During our initial meeting, we get to know each other to determine whether we’re compatible for a long-term relationship. We talk about where you want to go. We explain the benefits of lifecycle planning, showing what you need to do at each stage of your life to guarantee an income for life.
Step 2: Outlining Where You Want to Go
Part of the financial planning process is to look more fully into your goals and priorities. What do you want to do? Buy a house? Start a business? Retire at 60? We look more closely at your financial and insurance information to define where you are and what would work best for you.
Step 3: Gathering All the Right Elements
We research what’s needed to give the plan the elements it needs to protect your lifestyle choices throughout your lifetime. We also look at what you need to do to help yourself. That could mean controlling expenses (still want that Ferrari?) or increasing income. No free rides here!
Step 4: Putting the Elements into Place
We design a financial plan that uses your assets and income to create the wealth you need at every stage of your lifecycle. Trust us, it’s the exciting part.
Step 5: Getting it All Working
We’re ready to implement an investment plan: the right funds, the right money instruments, the right insurance, and the right action on your part.
Step 6: Monitoring Your Progress
Once we implement your plan, we constantly monitor it, keeping you involved. You don’t need to subscribe to the Financial Post; we keep on top of financial matters for you. We also help you stay on track with your spending and savings goals.
Step 0: Booking a Free Consultation
Step 0! Yes, because you have to do this one before you do any of the others. Besides, we love talking to people. We meet you in your home, at your office, or in the cozy comfort of a coffee oasis of your choice. Call us to get ideas on a financial plan that protects the savings you never outlive.