Financial Planning

Preparing a long-term financial plan is a complex process that involves careful consideration of both your short and long-term goals. At Shah Wealth Management, our goal is to develop a customized financial plan that incorporates your entire financial picture and addresses your current needs and future goals. To do so, we take a holistic approach, evaluating six key areas to understand where you are today and where you want to be years down the road. 

Your Current Financial Situation

We examine your present financial situation, identifying your current net worth, income and expenses, and liabilities and assets. You will learn what is working well and what areas can be improved.

Protection

We help you prepare for life’s “what ifs” that could potentially happen and we provide you with information to questions such as, "How might unexpected events impact your family's goals?" We also review the different kinds of insurance you have or are missing to ensure you are adequately covered.

Accumulation

We want to know what you are saving for, whether that is retirement, a new home, or a child’s college education. Once we understand your needs, we analyze your current investments and see if they support your accumulation goals.

Taxes

We will create a strategy to help minimize your federal and state income taxes, and help you manage the timing of income and deductions.

Retirement

We will review if you have adequate income during retirement, factoring in government benefits, employee plans, and personal savings and investments. If certain elements are missing, we can help determine opportunities for generating additional income for your retirement. 

Legacy

We review how your assets will be distributed and through which vehicles. Such as beneficiary designations, trusts, wills, and powers of attorney. Our goal is to help you work towards what you want your financial legacy to be. Whether that is financial security for family and loved ones, supporting a charity, or giving back to the community.

Through our comprehensive approach, we seek to help get you on the right track toward pursuing your goals efficiently and effectively.