Broker Check

Annual Account Review

At a minimum, as a client of ours, we need to conduct at least one review per year. The last step of the financial planning process is “monitor”. It is important for us to not only review the plan and investments in the plan, but to review your personal situation. Death, divorce, retirement, inheritance, the sale of a business, births, job loss, etc… are all important events that can change your circumstances and thus change your financial plan. But if we do not know that those events have happened, there is no way for us to know to adapt and change the plan. So as you come in for your annual review, know that I will be asking, “So have there been any major financial changes in your life in the last twelve months?” With that, it is helpful to us for you to bring as much information as possible. It is optional, but below are three printable documents to use and bring with you to the review. When Kim calls you for your review, she will remind you of these documents.

Cash Flow Worksheet

Simply money in – money out. What do you earn and what do you spend? Without this, it is very difficult for us to formulate a financial plan.

Download

Net Worth Statement

What are you worth? Please list approximate amounts for real assets such as homes, farms*, business’, etc. For investments, please bring recent statements on investment accounts, IRA’s, 401-ks, etc…


Download

Annual Review Checklist

This is a checklist of documents to bring with you. It is helpful if you bring this with you to your review.

Download

*There is a separate sheet for farms to provide cost basis, income, acreage, etc…

If you use our “Wealth Vision” service, your net worth statement will be updated automatically and entered into your “living financial plan”. Wealth Vision is a free service. Ask us about it if you are not using it.

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