Financial Life Planner (FLP) Benefits

The GCD Financial Life Planner™ (FLP) is designed to be unlike any other model offered by a brokerage firm, insurance agency or source on the Internet. The benefits of this unique and comprehensive tool include:

Calculating more realistic projected annual cash flows

In retirement (or now that you are retired), our FLP will calculate your annual cash flows and identify where these funds should be coming from. This will take all your income sources into consideration – Social Security, pensions, IRAs, assets, etc.

Calculating annual tax liabilities using actual current rates

With GCD advisors all being CPAs, our FLP calculates all of your federal, state and payroll taxes each year using current actual rates based on your actual tax bracket. There will be no guesses or flat rates used. This enables you to know your annual tax liabilities and helps you to plan ahead wisely.

Calculating amounts needed and affordability of life, long-term care and disability insurance

Most people buy insurance based on arbitrary information provided by an insurance agent. Our FLP calculates the actual coverage your family needs and determines how these costs will impact your ability to still achieve all your financial goals.

Determining the varying investment rates of return required throughout your lifetime

After forecasting all of your cash flows in and out, from now and through the end of your life, our FLP calculates the varying rates of return you will need throughout your life. Although NOT intended to provide forecasted investment growth rates, this results in more prudent and appropriate investment strategies throughout your life, while taking your age and risk tolerance into consideration at each stage of your life.

Identifying opportunities and potential problems before they occur

Let's face it, no one knows what the future holds. However, you can either “plan to fail” or “fail to plan.” Our FLP arms you with solid information to make proactive and prudent financial decisions. The model can help you take advantage of opportunities involving acquisition or disposition of investments, real estate, businesses, etc. At the same time, it can help to identify financial issues that may exist, such as having too much risk in your portfolio or not having adequate insurance protection. With the FLP, you can plan for the future in a way that most people can't even dream of.

Creating a dynamic and customized plan for your unique situation that is monitored and revisited at regular intervals

Our FLP model is driven by your calculated projected net worth at the end of each year. We update your plan annually to ensure that you are still on track, point out new opportunities and address potential concerns.

Determining and planning for potential estate tax liability

Many people claim not to care about estate taxes but when your portfolio has the ability to grow for 30 to 60 years, the amount left at the end can be much larger than you expect. Without proper planning, a significant portion of the financial legacy you leave to your loved ones could be eroded by estate and/or income taxes. Our FLP helps to determine if your estate will need additional strategies to minimize this tax burden.

Helping your spouse understand and participate in the planning process

Unfortunately, you can't plan your death and sometimes it is not a result of old age. We have found that many clients have done planning on their own, and in many cases, this planning does not necessarily reflect the mutual desires of both spouses. Having this model created while the primary earner is alive and healthy will not only help to align your thoughts and desires but also gives spouses an opportunity to participate in the plan creation instead of just being forced to follow the plan later.