Financial Planning

If you choose to employ us as your financial planner, we will work together to design a financial roadmap to help you as you strive to reach your financial goals and objectives. By assisting you in developing and implementing your personal financial plan, true control will take place in your financial life as you get closer and closer to reaching your ultimate life goals. Financial Planning is a series of steps taken in order to help you accomplish your goals. We will first gather and analyze data about your income, expenses, taxes, insurance coverage, retirement plans, wills, trusts, investments and other information pertinent to your overall financial situation. We will help you set realistic goals, prepare a list of recommendations, and alternate strategies for achieving them. Each strategy will be recommended in the context of other strategies to achieve a coordinated overall result. Once you decide which recommendations to follow, we will help you implement those decisions and continue to review and revise the plan, if needed.


In the investment planning process, we begin by focusing on your unique situation and goals, risk tolerance and income tax considerations. Next, we seek to diversify investment assets into different asset categories. Investing is an interlinked component of financial planning. Among other things, your investment plan should outline your investment goals, minimum level of return needed to achieve those goals, types of investments you will and won`t include, what portion of the portfolio each investment will compose, timeframe the assets will be in the portfolio, and what portion of the investments need to remain liquid. Diversifying and investing regularly (dollar-cost averaging), can potentially help you earn a reasonable return over time. Periodic investment plans do not assure a profit or protection against loss in declining markets. Dollar-cost averaging involves continuous investment in securities regardless of fluctuating price levels. Investors should carefully consider their financial ability to continue their purchases through periods of low price levels.


In the tax area, we study your present situation and your projected tax burden. We then will employ sound tax-saving procedures that will reduce your tax burden as well as defer some of the taxes to later years, if this is in your best interest. As your situation dictates, we work closely with your accountant and his analysis to help coordinate your overall tax planning efforts. Many Americans fail to take advantage of substantial tax deductions. Many strategies overlooked during the tax year cannot be salvaged in the waning days of December or when you`re hunched over your tax return in April. Decisions you make today can affect your tax bill next year and beyond.


In an attempt to identify and uncover financial risk for your particular situation, we address the area of insurance if there is a need to transfer risk to someone else. This process involves determining the amount of need and then deciding among a multitude of competing policies and companies to transfer the risk to. If you haven`t examined your protection plans recently, they may no longer be meeting your needs. Your financial circumstances may have changed, or perhaps you have too much protection. Insurance should be used to cover only those significant risks to your person, to your property, and to your assets that you cannot sufficiently avoid, reduce, or self-insure. Sometimes it is not a question of having enough, it`s a question of having the right kinds.


Based upon the amount of retirement income desired, we develop an investment plan that takes into consideration your risk tolerance, inflation and tax planning needs. Our objective is to help you obtain the financial independence desired during retirement while potentially enhancing return and protecting capital. When planning for retirement, the sooner the better. We will assist you with your retirement objectives and calculate how much money will be needed to live on each month over your expected retirement lifetime taking into account taxes and inflation. Our next step will determine how much, if any, additional money you`ll need to save through personal investments to fund that portion of your monthly income not provided by Social Security and any pension.


At Kendrick Group, we understand the needs of the business owner and will show you how to make optimal use of your time and your money. Our services are designed to help you achieve both your personal and business objectives, protect the equity in your company, reduce your tax liability, increase your benefit dollars, preserve your estate and attract and retain employees. We help business owners develop sound business strategies in business asset management, business continuation, employee benefits, and executive benefits. To support these considerations, we use a wide range of products and services to help you meet your needs through, business continuation plans, retirement plans, group insurance plans, executive benefit plans, investment strategies, financial education for employees, and employee benefit communication required by ERISA section 404(c). Whatever the life stage of your business, we are here to address your business financial planning concerns.


Based on the type of school you want to send your child, we will project the costs and calculate how much you need to save or allocate and what investments would be suitable for your entire financial picture in light of the time you have and your risk tolerance. Depending on the numbers of years you have to save, there are several possible investment strategies. Based on your unique situation, we will help you decide among the new education IRA, tax credits, retirement plans, uniform gifts/transfers to minors, student assistant/loan plans, and several other considerations. We will work with you to choose among the education planning options and investments that can help make college a reality for your children or grandchildren.


KG provides advice in the estate planning area by determining your current estate liquidity and estate tax obligations. We will make recommendations regarding the basic structure of your estate and how you may maintain liquidity and reduce your estate tax burden in the future. Should the need arise for management of your estate in the event of death, we will assist your heirs in accordance with your instructions and our knowledge of your financial plan. Anyone who owns assets has an estate. Congress continues to target estates as a source of revenue. Whether your estate is small or large requiring complicated trusts, family partnerships and gifting programs, you should develop an estate plan to ensure that your current and future assets will be distributed to your beneficiaries with maximum ease and minimum costs. Remember if you haven`t prepared your own estate plan, then the government will dictate a plan for you when you die - one that you and your beneficiaries may not prefer.


Social Capital is a powerful concept that redefines wealth and its potential impact on society. But what do we mean by social capital? Put very simply, social capital is that part of our wealth that we cannot keep. For example, as you think about your estate (income + net worth), you can see it consists of two parts. First, there is your personal financial capital - this is the wealth you spend and give to your heirs. This is the wealth you keep. What is left? The second part - the wealth you cannot keep, spend, or give to your heirs. This wealth is called social capital because it is destined, by federal law, to go to social uses beyond you and your family - to support education, social services and a host of other needs common to us all. Typically, our social capital will be extracted involuntarily in the form of government directed taxes. But when this occurs, we have given up control of that wealth. A glance at the federal budget tells us instantly that we have very little understanding of where our government-directed social capital goes, and virtually no control at all over how it is used. It is essential to understand there is an alternative to voluntarily self-direct your social capital without giving up control of its use. You have the capacity to redirect your wealth to non-profit organizations and causes that support your personal values, and the ability to accomplish your own personal financial goals, without disinheriting your heirs, or jeopardizing your future financial independence. You do have a choice to control whether the distribution of your social capital is in the form of taxes or charitable gifts. Your choice is a function of your values and how you choose to use your lasting mark on society.

"It is not what you accumulate that counts. It`s how you give away yourself. Life isn`t a collection. It`s a celebration." - Denis Waitley